OCR Text |
Show the land described. Prospective borrowers bor-rowers miut also state that they have neither the means nor the credit with which to secure these produc- 1 tion supplies, and that unless the lean is granted, they will be unable to farm in 1933. Significant differences between the 1933 and 1932 regulations governing !crop production loans are that this I year the maximum permitted to any one borrower is $300, and that, to qualify for a loan, borrowers must agree to reduce their acreage of cash crops 30 per cent below their 1932 acreage, provided their farming operations op-erations are above a specified mini- , mum. As in 1932, a first lien on the 1933 crop is required on or before October 31, 1933. The regulations make it unlawful for any person to dispose of or assist in disposing of any crop given as security for any crop loan, except for the account of the Secretary of Agriculture and provide for fine and imprisonment for violation of such requirement. The regulations require each borrower borrow-er to agree to plant a garden for home use and to plant sufficient ( acreage to provide necessary live- I stock feed. I n Charges for Helping Help-ing Farmers Apply Ap-ply for Loans Prohibited Pro-hibited Farmers who apply for loans this year from the $90,000,000 fund authorized auth-orized by Congress" for crop production produc-tion loan, should refuse to pay any fees for help in the preparation of their loan applications, it was declared de-clared by M. E. Kartchner Jr., Field Inspector of the Crop Production Loan Office, stationed at American Fork, Utah, according to schedule heretofore published. The law as enacted by Congress this year specifically prohibits the charging of any fee for the preparation prepara-tion of the application, Mr. Kartchner Kartch-ner explained, and provides for fine or imprisonment, or both, for any person found guilty of assessing such a charge. Notarial fees, however, are still necessary, as are fees charged charg-ed for the comity recording official for recordmg the lien given as security se-curity for the loan, and for searching search-ing the records for prior liens. Prospective borrowers need not write to Washington for application blanks and detailed information about the loans, Mr. Kartchner said but may get that material direct from him The application blank this yeai requires a statement of the amount of the loan desired, the number oi acres for which seed and fertilize! are to be purchased, the amount desired de-sired for feed, and the amount desired de-sired for fuel and oil for tractors The application also requires statement of the amount of the loar which is to be used for making repairs re-pairs or for the purchase of othe: supplies. The sum total of thes several items must not exceed th maximum rates per acre specified ii the regulations. A legal description of the land oi which the crops are to be planted i also required, together with a state ment of the acreage of crops growi by the applicant in 1932, and th yield obtained. The applicant is re quired to file a statement of see: and feed on hand at the time of ap plying for a loan. To obtain the loan, the applicatioi blank stipulates, the applicant mus agree to use the money loaned onl; for the purchase of supplies neces sary for crop production in 1933 oi |