The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1921-10-21
I'll Banks May Renew
Farm and Stock Paper

|faspee , boH,a paper Of Farmers
ss,, t. ses''W Who are Solvent
12-Montana stock
E s'd farmers that i, would be ade,
,s security snrn1ai i't conditions, should Saa
@der: no bankers. Notice has ss
1T 5ss,: al snd s1I3Ss= ss Loaf
Egicu!turaff or r'' the War Finance a
(stt9n IL, N ready es, to receive a 4,I,at
h from ,d ps e9hsr g ps'1sS institSs
kpies and i.' Uit and livestock
Heada'lA' H. H. Pigott, sec 1S
4 Helena, a. agency is not auth
aatsss Is. fn With individual borrow borrow,
l to as must std do business through
local Danhs; revived the War
len eo1gaarst,or to aid the agri.
be Co1p0i livestock interests 1t
tsl anu M disposal of the corpora
|sns h'' al'1H1lo,tmeht has been made
Estss. ,:e GpHp but their business
blso ellg s direct with the War Fin
be doa done i at Washington;
Corp 99a;et limitations are placed &c
bs losn1 made e' in Montana :. will be
Joan, hams s'ls' already in !, effect the
brer ' % not preclude the making
et ll!es:;, - loans for agricultural
|ig 'esos are limited to the aggre-
loans III az outstanding advances
Of al al hank or institution for
BY I!',. n1e purposes. The term "ag-
lts; purposes ql ses is thus defined ned
n T. f pr any purpose connected
Is s. growing rvl harvesting, preparcc
tie he. er ,usrket, and marketing of
,1 1sr I'r products, or the breeding e
P a''' fsttening, and marketing OF
:s't assnition, it is held, is not lot
/, ,a aens, to permit loans to be e
~ s'y resl estate, or for paying OH
.s OIL so On real property. Banks
s sasss that "such loans should
s y listed except as additional |, Sc
! to livestock loans offered
~ will be made only for SIX
a. ans hut w.t. there is nothing in the
!, y n tn the regulations that prohb.
s y ~ loans I,;a being renewed every
,ssd for a period of not more
'' three years. The money is be-
,' s',re to the banks at six pei
' interest and the banks may moi
- ,a mon such loans more than two
sst more. making the maximum
H. ;nd;vid,1al & per cent.
|tsr a bank has received an adj
| from the war finance corpora
to take care of loans heretofore
! for agricultural and llvestocs
ases. It can then proceed, if it 81
#. to make new loans Of it's owl
for agricultural and livestock
koses, and then present a new
ication for an advance to cove1
Isecond batch of loans. This pla1
/ be pursued up to July l, 1922
\ that date no further advances
be made. :
(hle this money is being advanced
IA the agricultural and livestocl
stries, it is not beng placed OF
same terms as were federal seet
b loans. Seed loans were made t.
hers who had no money and NJ
It. inasmuch, however, as tn
IS that borrow this money are re
Id to guarantee the notes tina
given as collateral security, the.
not be able to make loans to tn
hers or stockmen who are in tn
financial condition as wer
{ that obtained seed loans.
be idea back Of the loans now be
made, is to carry the stockma,
tgriculturalist who has resource
pate to insure his sofvency
was a normal market for hi
lwt. Instructions to banks fror
agricultural and livestock loa
boy state that "these loans are t
occurred by the collateral notes Q
customers of said banks, whic
must be based upon livestoc
agricultural products at presen
adequate market valuation" l