The Prince George's enquirer and southern Maryland advertiser., 1921-10-07
FARMERS NOT ON
PRO RATA BASIS
War Finance Corporation Seeks
to Correct False I'M
preston.
EXPLAINS LOAN UNDER LAW
Much Confusion Created by Some
Banks and Individuals Requesting
Their Share Of Billion Dollar
AGRICULTURAL Credit.

WashingtOn.--t statement issued by
the War Finance Corporation seeks to
correct impressions which appear to
have spread that government funds
are available for distribution to farm
ers on a pro rata basis.
Much confusion has been created by
misleading published reports indicating
that the War Finance Corporation has
a fund for distribution on some pro
rata basis among farmers and banks
financing farmers says the statement.
'AS result the corpo alton is recelv-
ing applications from some banks and
individuals requesting their share Of
the billion-dollar agricultural credit
The corporation is authorized under
Sections 81 and % to make advances
for export purposes, and under Section
24 to make advance to banks, bankers
or trust companies, or to cooperative
associations of producers which have
made loans for agricultural or live
stock purposes.
"TheSe advances are % be made
upon the terms and conditions stipulat-
ed in the law, and their aggregate re-
naming unpaid may at no time exceed
81 1OCO.0O0,0OO The corporation, of
course. has not made any ALLEGATION of
funds among sections or institutions
and it has not authority to do so.
Each application is considered on
its merits in accordance with the pow
ers conferred by the War Finance Cor
poration Act, as amended. For those
reasons applications for a share of
the corporation funds, Sased upon
some supposed allotment serve no use
full purpose and only tend needlessly
to increase the corporations CORES
pondence. The corporation has an
nounced the channels through which
applications should be made and pro-
vided FORMS which are designed to
make the procedure as simple as pos
sble Applicants should familiarize
themselves with the corporations cir
culars, which have been sent to farm
ing organizations and banks and trust
companies in the agricultural and live
stock sections of the country. Copies
also are obtainable from the War
Finance Corporation, at Washington.
In addition to the agricultural loan
agencies previously announced by the
War Finance Corporation, the follow
ing committees have been appointed
to receive applications from banks in
their respective districts for loans I'M
der the recently enacted section n
of the War Finance Corporation Act,
and to make recommendation as to
| these loans to the War Finance Cor
poration:
Headquarters at Montgomery:
Henry NJ. Hobbie, chairman; H. I.
Bartlett and A. NJ. Baldwin, Montgom-
cry, Ala; E. c. Melvin, Selma, Ala.
Frank NJ. Moody, Tuscaloosa, Ala.
Headquarters at Milwaukee:
F. X. Mcpherson, chairman, and H
A. Moehlempah, Milwaukee; H. L.
Russell, Madison, Wis; J. II. Wheeler
Columbus, Wis; Ernest Perry, Fond
du Lac, Wis.
r. P. Brewer. of Tulsa, Okla, has
been added to the Kansas City head
| quarters to represent Oklahoma on the
committee and to fill the vacancy.
james J. Pagan. of San Francisco
has been added to San Francisco head
quarters to fill the vacancy.
J. Sheehan, of Winnemucca, New.
has been added to San Francisco head
quarters to fill the vacancy.
In the case of banks located in dis
tricts where agricultural loan agencies
have not been established, applications
should be addressed directly to the
corporation at Washington for the