Omaha daily bee., 1922-01-25
Hold Corn for 50
Gents or Feed 1t,
Flanagan Advises
War Finance Secretary Tells
How Farmer Can Obtain
Loans on Grain-Praises
Banks That Help.

puiihe hat iitiRs
Farmers. hold your corn Tor =
cents or feed IL" is the slogan 0
John N. Flanagan, executive see
rotary Tor the War Finance corpora
ton in Nebraska 4 million dollars
a week is being brought into tbs
state 10 finance agricultural eoRdl
tions. and more is available
There is no reason why, with tbs
War Finance corporation 10 bacl
them, farmers should market theii
corn or their live stock a less than
IFS cost OF production" SAID Mr.
lilaunigan. "Meu coming 10 the
stock yards here IN Omaha with corn
led cattle report that their corn sold
on the hoof Is bringing from So
cents TO 81 a bushel A, present
ices OF hogs and OF corn there Is a
good profit for the pork producer.
Al the elevators throughout Ne.
btaska corn is being bought in linz
lied quantities around 81 or rs cents.
This same corn ia tho cattle feed lot
or put in hogs should net the farmer
from 50 cents TO 81 bushel. What
many farmers need is credit with
which 10 purchase live stock to feed.
Tha, is where the War Finance cor
poration can help.
Can Borrow so Per Cent on Corn.
Suppose farmer has 5000 BUSH
els OF corn in his cribs. Clearly he
should be financed 10 buy cattle TO
iced this corn 10. This is one OF the
functions of the War Finance cor
poration. In such case the farmer
will be advanced a sum equal to 81
per cent OF the local elevator price
oi the grain. Such support as this
should relieve the agricultural silua-
ton. and II must come manly
through the farmers local banks.
The War Finance corporation is not
authorized to make any loans direct
10 farmers. In some localities cat
tic loan companies are handling this
business. The Nebraska Agricul-
tural Loan association, room l4l1
Woodmcn of the World building, in
Omaha, is receiving daily applica-
tons for thousands OF dollars both
from individuals and bankers. This
loan company is authorized to deal
directly with farmers"
Mr.. Flanagan, who, besides being
in the banking business at Stuart, is
a former president OF the State
Bankers association, senses a gem
cral better feeling and new conf
dencc in the future among the finan-
cial interests of Nebraska.
New Loans Can Be Made.
Money should not be held back
now,' is his advice. New loans
should be made to the agricultural
A great deal Of good has
been done by extending old notes.
but this is not the sole purpose of
the War Finance corporation. Banks
wishing TO make new loans may sub
NIT the tentative proposition to the
War Finance agency in Omaha be-
fore they complete the transaction.
Ii it is approved they can make the
loan from government funds.
I'm many localities the banks are
wonderful assistance to
agriculture. 1t will take the loyalty |
OF all business interests to push this
recovery in the right way. Farmer
and banker must get on a common
ground. and there must be better UNI
and more confidence all
around. When this condition is es-
tablishcd, then the end of depression
will be in sight.
Up to the Bankers Now.
"Thc feed lots OF Nebraska should |
be full Of cattle. The great ranch
country must be stocked with cows
and heifers. With the full use of the
help offered by the War Finance
the resources OF the
state can be conserved and prosper
lily .regained in town and country.
The intention Of letting these war
finance loans run Tor three years Of
lcrs plenty Of time for farmers to
get on their feet.
"The solution is TO fill up the
iced lots and market the corn on the
hoof. as pork and beef. Let no man
sell his corn for less than 50 cents /
bushel. The farmers dollar must
buy him 100 cents worth. With
corn selling at SO cents bushel and
hides at cents pound, and with
wool at its present low level, it is
not reasonable for the prices Of
things the farmers buy to be SO far
out Of line. There must be an equal
ity between buyer and seller.
Through its credit, the War Finance
is endeavoring to pre-
vent the depression of farm prices
below the cost of production. 1t is
hoped that the great banking inter-
csts OF the state. and particularly
those of the smaller towns, will be
fully alive to the wonderful possibili-