The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-01-01

| That the War Finance Corpora.
| ton played a large part in aiding
/ farmers throughout the country is
evidenced by the fact that since
! November 80, 1928, the corporation
| approved SCI applications for new
agricultural and live stock loans in
an aggregate amount of $12 ,227, 900.
This is a substantial reduction
from the preceding year and
evidence Of the general improve
ment in the agricultural situation
as well as-in the condition, Of
country banks.
2O1 Banks Represented.
OF the sum approved, $4,6IO,OOO
represented advances authorized to
201 banking and financing institu-
tions and $7,557,O0 to twenty-four
live stock loan companies. Under
these commitments, as well az
under commitments made prior to
November 80, 1928, $3,142, 900 was
actually advanced to banking and
financing institutions, $6,463 900 to
live stock loan companies and $685.
900 to cooperative marketing as
Sociations, making a total Of $1O,.
194, 900 compared with So, Jag 900
during the preceding year. In addi-
ton, the corporation approved dur
ing the year 1888 applications from
banks and 242 applications from live
stock loan companies for the re-
newal Of outstanding loans totaling
sac, 194 900. It also received and
approved applications for the re.
newal and substitution Of notes held
as collateral in the face amount Of
approximately $S6.47O,0O0 and for
the release Of the proceeds Of the
sale of live stock and wool totalinS
81, 1925, 900.
From December /, 1923, to No
vember so, 1924. the repayments
received by the corporation on its
agricultural and live stock loans
aggregated, $40 ,942 900, of which
$21 ,392, 900 was repaid by banking
and financing institutions, $16,9S3..
900 by live stock loan companies,
and $2,567.OO0 by cooperative
marketing associations. In ,addi-
ton, $1.O65 900 was repaid on the
corporations export loans and $780,
I'll 900 On-its war loans, bringing
the total repayments during the
of $4,351 900 per month.
On November 80, 1924, the loans
outstanding on the corporations
books totaled $50, 623 900 principal
amount), as follows: War loans,
$16,975, 900 and agricultural and live
stock loans. $45, $4,000. All export
loans, those made prior to the sus-
pension of business in May, 1920,
as well as those made after the
resumption of operations in Janu-
airy. 1921, have been liquidated.
Corporation Summary Made.
1 T4 @En ~ he
corporation, the report, in part.
says:
Since the passage Of the act Of
August "a, 1921, the Corporation
has approved 8,715 advances for
agricultural and livestock purposes
totaling $479, 734, 000-$189 sos, 900 to
| banking and financing institutions,
$92 $4,000 to livestock loan COM
| panies, and $197, 1927 900 to cooperar
tive marketing associations.
OF the amounts approved, $685.
1874, 900 had been actually advanced
TO November 80, 1924-$172, 1850, 900
TO banking and financing institu.
lions, $86,559, 900 to livestock loan
companies, and $3S,525,0O0 to co.
operative marketing associations.
The total repayments received
by the corporation to November 80,
1
aggregated 1852 1886 900, which repre-.
sents 84.7 per cent of the amount
originally advanced. OF the total,
STAT, $4,000 was repaid by banking
and financing institutions, $67 ,5S4,'
900 by livestock loan companies,
and SGT ,304,000 by cooperative
marketing associations, leaving a
balance outstanding Of $45 ,648, 900.
or 1873 per cent, as follows: From
banking and financing institutions,
1875, ASP 900; from livestock loan
companies, $18,975,0 900; from CO.
operative marketing associations
$1,221,00O.
There are attached to this report
as exhibits A and B, tables showing
In detail the operations of the War
Finance Corporation under the agri'
cultural credits act of August ~
1921.
Loans Made to 4,3l7 Banks.
In all. the corporation has made
advances for agricultural and live
stock purposes to 4,317 banking
and financing institutions in thirty
seven States. OF these GA, or 1916
per cent, were national banks and
3,643, or 84.4 per cent, were State
banks. OF the State banks, 213
were members Of the Federal Re
serve system The loans to national
oanks. amounting to $33 ,744 900
constitute 1875 per cent of the
whole, and the loans to State
banks, totaling $l39. 100000, equal
H0,5 per cent,
On November 30, 1924, 3,06:
banks (J58 national and 2,505 Statel
- which "a total Of $117,849 900 was
advanced. had completely repaid the
corporation. In other words, 7O.G
per cent OF the banks to which
the corporation made loans, includ
ing 82.8 per cent of the nationa
and 68.8 per cent of the State
banks, have liquidated in full THEN
indebtedness to it. The remaining
banks. numbering / 254 016 nationa
and 1873 State had repaid $29,
$40, 900 out of total advances t.
them amounting to $55 .0O1 900, IeaV
ing a balance outstanding on No
vember so. 1924, OF 5,452. OOC
(S2.71l 600 to national banks anC
S22 ,741 900 to state banllsl, which
represents I4.7 per cent Of the
amount originally advanced to al
banks.
526 Banks Paid Up.
During the year 526 banks, tc
which total Of $i7,709 900 was
originally advanced, repaid i'm full
or completed the Repayment f.P
fheir Indebtedness to- the corpora
rlon.