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Show Farm Surplus Loans Climb To $4 Billion Mark The government's investment in farm surpluses under its price support program has climbed to the $4,000,000,000 mark. The agriculture department reported that it hud $3,947,-1 $3,947,-1 424,000 tied up in loans on farm held surpluses and inventories of its own as of Jan. 31. Major items in the big pool of surpluses include corn, wheat, cotton, tobacco, linseed oil, flaxseed, flax-seed, dried eggs, butter, dried milk, barjey, dry peans and wool, The department said that on Jan. 31, it still had $1,119,000,-000 $1,119,000,-000 left in borrowing authority to cover price support operations opera-tions after that date. However, outstanding were obligations of $739,000,000.00, some of w.hich may have to be met from the remaining borrowing borrow-ing authority. Secretary of Agriculture Brannan has asked Congress to grant the department an additional addi-tional $2,000,000,000 in borrowing borrow-ing authority for future price support programs. He said remaining re-maining funds are not sufficient to cover price aid commitments for 1950 crops. Legislation covering Mr. Brannan's request is pending before congressional committees, commit-tees, . The department reported also that it had lost $96,4040,000 on price support operations between be-tween last July 1 and Jan. 31. In the main, the losses were suffered when the department sold commodities for less than it paid for them. A large part of the loss occurred occur-red in connection with a potato price support program. The department de-partment is offering to give away potatoes for relief use. |