| Show LOANS FOR FEE 0 AND SEE 0 NOW AVAILABLE I 1 N application forms may now be had at local FERA office loans to farmers anci ana stoc stockmen kmen for the purchase of feed or seed for forage crops are now available in counties which have been designated as emergency areas these loans will be made from funds appropriated under an act of congress approved june 19 1934 loans will be administered by the emergency crop loan section of the farm credit administration and will be made to applicants who because of drought do not have the necessary feed to maintain their livestock and must buy feed or produce a forage crop and have not the funds or av available ail credit to obtain such feed or undertake the production of a forage crop the amount loaned to purchase feed for livestock will be limited to a maximum for each head bead an and d the loans for production of fora forage ge crops will be limited to a maximum amount per acre such loan limits being determined accord according lug to the cost of feed or tho the cash cost of growing fora forage g e crops in the various drought areas the minimum amount of a loan or advance is 25 for either pu purpose loans will not be made to purchase feed for livestock acquired since april 1 1934 security for the drought relief loans will consist of the borrowers e rs promissory note accompanied by a disturbance non agreement signed by each chattle mortgage lien holder except where the lien holder is a production credit association cia tion regional agricultural credit corporation federal land bank the secretary of agriculture or the governor of the farm credit administration in announcing these unusually liberal security arrangements which do not require borrowers from the drought relief fund to give chattel mortgages or waivers governor myers stated that all loans will be advanced in monthly installments in amounts sufficient to feed the approved number of livestock for one month further advances will not be made to any borrower who fa fails ils to ob serve good faith by encumbering his livestock feed or crops or by waiving his rights to them after he be has obtained a drought relief loan or advance the promissory notes given by borrowers borrower as security for drought relief loans will mature november 1 1934 with interest at the rate of 5 per cent per annum interest on the loan until maturity will not be deducted at the time the loan is made loans will not be made to applicants cants whose principal business is the commercial feeding and fat toning of livestock for market nor to any applicant which is a corporation po ration unless its principal business is farming loans may not be mado made for purchase of feed for livestock or for producing forage crops outside the designated emer gency drought areas nor for feed for livestock that have been moved into a drought area since april 1 1934 forms for use in making applications are now available at the F E R A office in |
