The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-12-21
FARM CONDITIONS
MUCH IMPROVED,
CONGRESS IS TOLD
Group Paints Optimistic
Picture In Annual
Report
(By Associated Press.)

WASHINGTON, Dec. 20.-An en-
couraging picture of conditions in the
agricultural regions was reported to
congress today in the annual summary
of the war finance corporation.
"Most of the important farming dis
tricts." the report said, ARE in better
shape than they have been for several
years. Bank deposits have increased,
bank reserves are being restored, bust
ness has greatly improved and the farm
ers generally are making excellent prog
ress in cleaning up the burden OF in
debtedness under which they have been
laboring and in Strengthening their Geo.
nomic positions"
The price Of range cattle, the report
said, has not followed the trend OF
prices of other agricultural commodi-
ties and conditions in the breeding end
of the industry were described as still
unsatisfactory.
Loans Approved
Approval of 561 applications for
agricultural and livestock loans totall-
ing 1921 600 was made by the cor
poration during the year ending No
vember 80.
The amount, the report said, 'is a
substantial reduction from the preced-
ing year and evidence of the general
improvement in the agricultural situa-
ton as well as in the condition of coun-
try banks.
Of the amount approved S4,61O.OOO
represented advances authorized to 3Ol
banking and financing institutions and
S7,570,OO0 to "a livestock loan compa-
mics.
Loans outstanding on the corpora
TONS books, as of November 80, Of
which $16,975,000 was for war loans
and $45, 64S,000 for agricultural and
livestock loans. All reports loans made
prior to the suspension of business In
May, 1920, as well as those made after
resumption of operations in January,
1921, the report added, have been hq-
Undated.
Situation Improves
The last six months, the report said,
"have witnessed noteworthy improve
ment in the agricultural situation which
in turn has brought about substantial
improvement in the condition of many
country banks. This is particularly
true of the wheat growing states of the
middle west and central northwest
where the farmers have enjoyed an un-
usually good season.
Referring to the tobacco crop the re-
port said that while the industry has
been handicapped to some extent by
carry-overs from former years, it has
maintained a relatively satisfactory po-
sition.
The sheep and wool industries, it was
for the products and on the whole since
said, have been receiving good prices
growers have had a favorable year.
Big Return Seen
After all outstanding loans of the
corporation have been liquidated, the re-
port concluded, and after deducting OPP
Grating expenses and such losses as may
be sustained, the government will re-
ceive in addition to the original capital
stock of $5OO,0OO,000 a return approx
mating the cost to the treasury of the
money used in the operations of the
corporation.
Discussing the cotton crop, the report
said that growers produced a crop APP
proximately three million bales more
than the 1923 output and although
prices have ruled somewhat lower the
farm value, on account of the larger |
production, probably will approximate
that of last year.