Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1918-11-26
GOVERNMENT AID
IS ARRANGED FOR
CATTLE GROWERS
War Finance Corporation ES-
tabIiSheS Office at Dallas to
Give Financial Help to Suf-
fererS From Drouth,

inc secretary Of the New Mexico
cattle and Horse Growers association
mere has sent out notice to all mem
bers OF the association to the effect
that the war finance corporation has
established an agency at Dallas for
the prose of making loans to live
stock raisers. This has been done TO
meet the emergency created by the
drouth throughout the west and
southwest. The Instructions in full
follow:
l.. To meet the emergency caused
bN the extended drouth throughout
the west and southwest and the ne
cessity of preserving and conserving
the stocker and breeding herds and
.tlocks of our country, the war finance
corporation has established an agency
AT Dallas for the purpose of making
loans. when imperative, to persons,
tirms and corporations engaged il
breeding and raising livestock. 1t has
Deen determined to authorize loans
and advances to such persons upon
proper application. where such loans
cannot be obtained through the regu-
lar established channels, and this let
ter Is to advise briefly the scope of
such agency and the conditions under
which loans will be made.
2. No loan will be made to mature
later than November 10, 1919, if
made during the u resent year or for
longer time than twelve months if
made in the year 1919; but may be
made to mature at an earlier date.
The interest on direct loans, where
made to individuals, will be at the
rate of s per cent uer annum and
where made for more than year the
interest must be paid at the expira-
ton of the semi-annual period
3. No loan will be made whore
The applicant does not show proper
facilities and the possession of-or
he ability to acquire and secure
he necessary feed and range, and
whose experience does not indicate
hat the applicant is amply capable to
properly care for the livestock offered
Is security
All applications must be made
n writing, on forms to be furnished
~ the corporation (Which will be
nailed on request, such applications
0 be accompanied by the signed fl |
lancial statement of the borrower.
.. NO application for q loan will !
'e considered unless executed by the |
'erson, firm or corporation owning
he livestock offered as security, and !
My for the purpose of conserving |
he breeding herds of the country |
nd upon what is known as the |
locker cattle. which. as here identi- /
led, viii consist of bulls, cows, calves |
nd l. and 2year-old cattle of either
eX, rams. ewes and lambs and bucks,
annles and kid goats; and no loan
MI be approved for greater amount
nan 10 per cent of the appraised
alue or the livestock offered as Sc
lrlty, except that in special cases
mere funds are desired to purchase
vestock which would otherwise be
freed on the market, the corporation
its discretion may advance the full
mount of such purchase price, upon
lie borrower furnishing other APP I
roVed security in any amount equal Il
at least 80 per cent of the amount
aned.
6. Necessary forms will be fur
shed, as stated, on request An eX-
and inspection of all prop
'ty offered as security will be made
regularly selected appraiser
lmed by the corporation.
Z. Applications for loans approved
wv. "SSHIN Will nc submitted TO
e war finance corporation for final
1proval,
3. The corporation will reserve the ]
ghts, in its discretion at any time I
ter the loan is made, to require ad-
tional security, and the failure of
e borrower to furnish same will, at
e option of the corporation, at once
allure the loan.
3. The facilities offered banks and
ust companies in the circular letteg
.. 80. dated July 2S, 1918, by Il. l..
IN Zandt, governor of the federal
serve bank of Dallas, will be con-
lued. and banks and trust COM
MES may continue to secure adj
noes on the terms and conditions
erein explained.
10. Our facilities for making in
ections are limited. and as applied
small loans, quite expensive. 1t is
erefore hoped that all loans of
500 or less can be placed with
al banks, which loans in turn can,
len desired by the banks and APP
owed by us, be taken care of by the
rporaton under the terms of letter
}. 80. above referred to.
IL. All communications relative to
2 above subject should be addressed q
the Cattle Loan Agency of the =
ar Finance corporation, 721 Linz n
Hiding, Dallas, Texas. RI
------@---------
Write for knight-Campbelrs big