Yerington times. [volume] (Yerington, Nev.) 1907-1932, 1921-09-28
FUNDS AVAILABLE FOR
NEVADA RANCHMEN

Nevada live stock and agricultural
interest will be cared for with loans
from the war finance corporation to
any extent that security is available
be it three, FIVE, or seven million dol
lars, according to announcement made
at San Francisco by Eugene Meyer,
Jr., director OF the war finance cor
poration at a conference attended by
Vernon Metcalf, Jerry Sheehan, and
Nj. D. Fairchild, representing the live
stock and banking interests OF the
State, says the Reno Gazette.
The California.Nevadac committee to
care for the loans is headed by Her
bert Fleishhacker of San Francisco.
Sheehan was appointed to represent
Nevada on the committee.
The money will be available at once
and will bic loaned to the live stock
men and ranchers for one year with
the privilege OF renewal for three
years OH either land, live stock, or
agricultural products as security. The
rate of interest will not exceed eight
per cent and may possibly be less. al
though the rate is not definitely fixed
except that it cannot be more than
the interest charged on federal reserve
paper.
Application blanks for loans will be
available at all banks in the State.
The banks investigate the security
offered and If suitable the application
| is forwarded to Sheehan. who in turn
forwards it to the California Nevada
committee headquarters. 1t is then
placed with the war finance corpora
ton at Washington.
AS the banker passes on the secur-
'ty. he can make the loan at once and
turn the notes over to the war finance
corporation and secure the money.
In the opinion OF the Nevada bank
ers. as voiced by Messrs. Sheehan and
Fairchild, and OF the stockgrowing IN
terests as represented BY Secretary
Metcalf. tins arrangement ior financial
relief is the turning point for the aeri-
cultural and stock raising industry foi
not only Nevada but the entire West
~ tremendous shortage is already
apparent over the entire country IN
numbers OF both cattle and sheep ant
-, hr -
breeding stock which will be needed
for the next few years to replace the
aged stock which have passed and arc
passing their period OF productivity,
said Mctcalf and Fairchild.
"Stockmcn who have been and are
faced with the necessity of selling
their young breeding stock, and ever
their foundation stock, i'll order tc
raise money to meet their Obligations
will now 6e enabled to secure the
financial assistance necessary to en-
able them to hold such stock. Farm
ers, with the biggest accumulation OF
hay stocks Nevada has ever seen, will
now be in a position to turn these
stocks into money through their con
sumption by the live stock thus held
either securing their own money and
purchasing the stock to consume their
hay or selling their hay to the stock,
men, and feeders who can secure the
financial backing with which to pur-
chase the hay.
"As an example, there are many
sheepmen in Nevada who have been
facing the necessity of selling their
young eve lambs at prevailing low
market prices in order to raise money,
who can not find way in most in
stances of financing themselves so
they can hold these young ewes over
to meet the demand for replacement
stock. not only in Nevada, but over all
the West. which all those familiar
with the sheep industry knows is not
only coming, but is right with MS nav.
| Young breeding ewes are a scarcity
over the West. even more so in ad-
Joining states than in Nevada, and
there is little doubt but that good
young ewes will command a price OF
from eight to nine dollars or even
higher.
"The situation with regard to young
heifers is practically the same. Not
only will the financial relief enable the