Show 1935 FARM CREDIT ACT IN OPERATION oakland calif july first ap for a commitment under th the farm credit act ot of 1935 came to th the bank for cooperatives here today it was from a cooperatively owned mutual water company in southern california and is the first of many expected by the bank under the amended farm credit act ac cooperative purchasing associations are qualified to ma make e phy physical ical facility loans for financing or re firt financing aning their equipment hitherto only marketing associations ot of farmers wore were qualified to secure this type ot of loan from the banks for cooperatives the present rats rate of interest on facility loans is 4 per cent the mutual water companies previously were financed with lorns bearing from 6 to 8 per cent interest in rost |