Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1921-09-28
RURAL ACTIVE TIES AND NEWS
OF INTEREST TO THE FARMER
II RMERS Will
GET " R / d | AID
War Finance Corporation Funds SOor
Available For llort Invest
ne II. Agricult 81 S3.

Available For \ lori INVESTS
" u. lAgriclllt ure
Financial help is in sight for N in
Enesota farmers whose assets justify the
extension Of additional hi credit, r. E.
3MacGregOr cha irman OF the War Fin
Aance corporate On's comm tee for Min
Enesota and the DakOtas, told q confer
Fence OF farmers and bankers at state
sheadqa Of the N Minnesota Farm
Bureau fedora ton here ss
Funds to be loaned for agricnlt ural
purposes probably will be available as
soon as the committee can be complete
w gained, Mr.. Mac regor said.
f His The conferenc was called by the
farm bureau fedora ton Committee Sof
Six, represent ing farmers and country
bankers, to lay before Duluth and twin
city bankers the credit needs of the
farmer. The meeting. attended by rep
resentatives Of the Duluth, st. Paul and
Minneapo polls clearing house associat lions,
the federal reserve bank and the fed
eral land bank !, resulted in two import
ant develo pments !: ss III
a First B 10th farmers and bankers
agreed that agricultu ral g loans made
possible to country banks through the
War Finance corp lion will afford
definite relief by carrying many farmers
through the present critical credit sit
uatiOn $55s 81 M ss
Second III Committe of Six
launched a campaig Ign to encourage east
ern investors to put their money into,
northwest farm mort gages, as the best
tural credit. Elm Fl s ND n
corp ton act. which made 81 600 .OOO,-
600 available for agricu ltural credit,
was drafted in consulta ton with officers
Of the American Farm Bureau fedora
tion, and was backed by the state feder-I
atiOns. 5$ ~ 6s III
10 credit scheme in the world, how.
ever. can save the man who has involv-,
ed himself so heayi in debt that his li
farm, in normal operation, cannot meet
current expenses, pay interest and re.
duce obligatio ions, q q E. G. Quamme,, pres;
ident Of the st. Paul eleral land bank n
said
Operat ions Of the War Finance cor
pora ton, Mr.. MACK reg0r said will per-
NIT country banks to- obtain nOugh
money to carry solvent farmers until
Ethey can bring their livestock or crops
Ito their most val uable market condi-
lions. 15S
The principal financial diffculty Of
| the producer, accord ding to If Thomas
Meighen Of Preston, banker member Of
/ the Committee Of Six, u is that lille he
can obi tain credit for planting and rails
ing and harvesting his crop he is pres
sed to liquidat as soon as the crop is
harvested 5.s ~ sss;
ne inevitable result |, d N Meighen
said lis to throw the whole crop on the
market at once. and put it into the
hands of men who buy 1T at depressed
prices. and are enabled, BY simply
hand ling 1t and holding it, to realize
more than farmers get for i'll BY their heir.
year Of labor
Farmer 4 represents tiyes contended
THAT it would require no more credit to
finance this grain in the hands of the
farmer, 81 III country 81 terminal Seleva-j
tors, than to finance The hands Of
| specula tors.
|#5ss lMr.$ Mace resgor GU lined the plans I'M
der Wi ch the Var finance corpora ton
win .ex tend cred 81 est agricul-
AOA1OW
discount loans v s#be a|t t'1,
banks for strict gricdlt rra lBB p, nv 4
ipOses.
ja5S Loans will be made tbs extend up to-
one year, with renewal priv ileges sOf not
HUI exceed n three years. Rene for
three years was prOvid ed, Mr.. cGreg-
81 said he believed, To permit ssistanee
to rmers while devel ping young i've ~ 81
Istock to maturity
ricultural purposes are defined sas
volving the product on and maj keting
vi livestock ana crops, not the construc
ton of silOsS and fences and I'M
Small loans }of nllSlrsea'd
ldOllars MI receive as careful t,onsi der
alton as appl ica tiio ns for several thotlss-
and dollars
The W ar inan nee COR ion vim not ls'as
advance money to- any s1pH excess
Iof tie loans 81 M de bank mi.
Tor gricultural purp
Il. lacG reglsolrEs al while an
thori i've ss
oans s th 4.
n b BE
about ,Eg
Comm "a
peal to
Iage plr Of Il IN
curit ie asOsg mort 1&eS ling
dula M 3 d Nj and fiona1
o1nls 81, n
II
N ssi ~