Show LOANS FOR FARMERS AND STOCKMEN lewis longhurst secretary treas aurer of the rich county national fain association te received c vi word that president truman has hai sighed the bill passed by congress which increases the powers of the association and speeds up the granting of loans to farmers and stockmen stoc kmen under the new law the association may lend up to 65 per cent of the normal agricultural value of the farm in the past a loan was limited to 50 per cent of the appraised normal value of the land plus 20 per cent of the permanent improvements the authority to continue making commissioner loans is extended to july 1 1946 the contract interest rate on these loans is 5 per cent while the contract rate for land bank loans remains at pre present serit all time low of 4 per cent secretary I 1 treasurer Long said that many commissioner loans have been bean repaid and that tha others have been reduced so that they can now be re financed with 4 per cent land bank loans this he said is of benefit to many borrowers forit fordt reduces their interest rate and consolidates soli dates their loans |