The Bozeman courier., 1921-11-02
RESTORING SPIRIT.
WAsHrNGToN. Nov. 2.-The be!

WASHINGTON, Nov. 2.-The best
and suerest test of any government
agency is the manner in which it
functions. For that reason it is in
teresting to note the work being per-
formed by the War Finance Corpo-
ration under the additional powers
granted it by the present session OF
congress, whereby it is enabled to
assist Agricultural and livestock in
terests.
A record of it's loans during the
first three weeks of October is fairly |
illustrative of the work it is doing. |
These loans aggregate $4155,868. !
The first loan made during the month
of October was an advance of $175,-
1863 to a Chicago financial Institution
which had made loans of that amount
on livestock in Idaho. On October
10 the Corporation approved of a
loan of S1,00O,000 to an institution
financing the livestock interests in
Montana and Wyoming. On the same
Gay it made three loans of $65'OOO,
sol 900 and $4,000, respectively, to
three different banks in Texas to be
applied to the livestock industry;
$4,000 to a bank in Georgia to be
applied on general agricultural loans,
and S5OO,OO0 to another bank in
Georgia to finance the export Of cot
ton.
In between these two dates the
Corporation had approved of loans
of S215,OOO to livestock interests in
Wyoming; 81 1,25OO,OOp to coop
erative association of fruit growers
in California; 100000 to two Kan
sas banks financing livestock inter-
ests; $4,000 to an Indiana bank
which had made loans for agricul-
t1ral purposes; S235, 900 to a bank in
North Carolina for agricultural pur-
poses; 100000 to a bank in South
Carolina for agricultural purposes;
S4O0,OOOto South Carolina cotton in
terests.
This list gives an idea of the man.
ner in which the War Finance Cor
poration is going to the rescue of
the agricultural interests of the coun-
try It's largest single loan was
approved the last week in Septem-
Der. This was loan of $4,000, ,OOG
to a cooperative association of grain
dealers in Minnesota, South and
North Dakota.
Mr.. Eugene Meyer, Jr., director OF
the War Finance Corporation, has
Just returned from an extensive tror
throughout the west. He is very op
timistic over the outlook. According
to Mr.. Meyer the knowledge that the
War Finance Corporation is able anC
ready to assist all legitimate agricul
tural and livestoc kinterests is re
storing confidence throughout tn
western section of the United States
which in Mr.. Meyers opinion is al
most as important a factor as tn
actual loaning of the money.
eve have been able to ease tn
whole situation" says Mr.. Meyer
"Since the banks in California kney
that we would advance half Of thei
requirements, they wished to ad
vance the entire amount. The growt
of confidence is illustrated by a ma
in Colorado, who informs us that no.
that he is certain that he will be abb
to get credit when he needs it, h
will buy 5000 head Of cattle to graz
on land that has been going to vast
Utah has responded to the need b
forming a company with subscribe
capital Of $50O,000 to make livestoC
loans in Utah and Idaho. Westel
Nebraska bankers have organized
100000 livestock loan company.
"Other companies are in proce
Of formation in other sections Of t
United States. Through the orga
ization of these companies to suppl
ment existing companies and banl
the War Finance Corporation will
able to make its funds availat
Throughout the agricultural sectio
Of the country. This will enable
livestock interests to keep tn
breeding herds and stop the mark
ing Of immature cattle at a tremeT
GUS sacrifice"
MEMBERS OF LEAGUE.