Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-04-17
o FARM LOANS
To the Editor Of The Herald.

To the Editor of The Herald:
The Courier-News carried a one
and one-quarter column editorial in
Its issue of the 18th under the head
ing Turning the Key" in which it
quoted a statement issued by Mr..
Default, director of the farm loan
department, to the effect that the de-
partment "a not give priority Of
consideration to applicants for farm
loans on the ground that foreclosures
have been threatened or started; that
to do so would place a premium upon
the threatening n starting of many
foreclosures; h a the department
gives preferred consideration to cases
where the foreclosures were started a
year ago and the periods of .redemp-
tiQn are about to expire.
1t would seem that his statement
would appeal to any fair minded.
normal person as just, and right. It
was issued to correct an erroneous
impression held by holders of past due
mortgages and to prevent foreclosures
and needless expense and worry, to
the farmers of our state, as the de-
partment could not possibly care for
the avalanche of foreclosures that
would probably otherwise result.
This department has bent every
pefort and il bending every effort to
save tie homes of farmers whose Sc
curity was adequate and whose period
OF REDEMPTION was about to expire.
Its appraisers, in some cases, were
unable to inspect such farms except
on horseback riding during the bliz-
yards of the past winter. 1t has for
warded ret1ittances to take up such
foreclosures to responsible parties
without having received executed
papers or abstracts, relying upon
such parties to secure a first lien,
and here the departments regular
appraiseray we're not quickly available
1t has had such cases appraised by To-
cal parties acting as special apprais-
ers upon instructions wired to them.
In fact. it has cut red-tape and office
routine wherever and whenever same
stood in the/way of prompt attention
to any Urgent cas- threatening actual
loss Of a farmers land. The day this
editorial arneared an emergency loan
was being completed by telegram and
telephone to save a farmers home.
In this case the farmer did not even
have an application filed in the de-
partment. HE had wired for help
VIXEN his arrangements for a loan
elsewhere failed him one week before
his year OF redemption would expire
under foreclosure. His loan was APP
praised. passed upon, approved and
papers signed and recorded In 8, dia-
tan part of the state within six daya
from the receipt of his first telegram.
The very purpose of this statement.
rs shown upon its face. Is to prevent
foreclosures. and yet it called forth
this long editorial attack.
On the other hand, the former "a
ministration apparently made it a rule
not to advance consideration of a loan
out OF the order of its reception in any
sucn gases and farmers asking foe
such prior consideration were adyisedr
tnat to advance the consideration or
tneir oar would be Unfair to prior
applicants. However. exceptions were
maze py them in many cases az
Wn.cn the following are lyrical IL.
John H. Haigh Oh Carlyle. Montan.s
VINO was then and. is now a Ia rEer
n land speculafor, was rrantaa -
loan OF 100000, on land in GoldaE
yalley county, his applications beine~,
mber 1873, 1474 and 147b ana
ne received loans numbered 4s. ~
ana 45.
=. y. MCMAHON, who was then ana
r. now a lam speculator Of st. Paul.
MAS tIanted q loan Of $4,000, hik an.
1ss"a'lons Delns numbered 1848. iel9.
tpo ana ss5l. His loan was amon1
y mas mo- q completed loan nfinoter
lne ute not being In condition Ia car.
pletov though the full amount - ~
loan wax paid. olasns
John N. Hagan, a member =, i
inuu' c091missiOn, wal granfed Z
9 Of $500, his application MAJ
~ r. ~, me- q being No. sc.
La. uCIn the HAigh and McNahon
conroisrio recoro oisc!oses that q cash