Evening star., 1925-04-12
BY CHAs. p. sHAEFFER,

That agricultural distress has
passed is disclosed by an analysis OF
the record of foreclosures of farm
mortgages held by the banks of the
Federal Farm Loan System. Gov. r.
A. Cooper, farm loan commissioner,
has completed an analysis of all the
foreclosures made by all of the banks
of the farm loan system covering the
entire eight years of their history,
showing that the total number OF
foreclosures is only three-tenths of l
per cent of the total number of loans
made through these banks. At the
close of business December 81, 1924,
the banks of the farm loan system
(both Federal and joint stock), has
made loans to 403,906 farmers, and
the total amount of money loaned
was s1,535. 1888.
Thinks Conditions Improved.
While Commissioner Cooper gives
no information as to agricultural con-
ditions as reflected by other lending
agencies, he believes that the tre-
mendous volume of business done by
| the Federal Farm Loan System,
| reaching as it does into almost every
county in the United States, makes
the record Of these Government su-
pervised banks a thoroughly reliable
al supervision over these banks
doubtless has resulted in establishing e
conservative practices on the part of
| the land banks so that these partiCu-
lar institutions may make a some
what better showing than other lead
ing agencies, the governor is firmly
convinced that the record of fore
closures OF mortgages throughout
the country. taken as a whole from
coast to coast, shows agricultural
conditions TO be exceedingly stable.
What Statistics Indicate.
Gov. Cooper points out that the
fact that foreclosure proceedings
have been instituted does not always
mean disaster for the farmer or
trouble for the bank. Many fore
closures are instituted as a result
of the death of the owner, and in
due course are disposed of without
Inconvenience or loss to either the
heirs or the lender. Mr.. Cooper says
that the farms actually acquired
under foreclosure (and not the num-
Der of foreclosure proceedings insti-
tuted) Is the true index Of agTicul-
tural conditions.
The number of farms actually ac-
quired through foreclosure by Federal
Land Banks is 1,271, out of a total
Of $685. go farms on which the Federal
Land Banks have made mortgage
loans, or four-tenths of 1 per cent:
while the number of farms actually
acquired by joint stock land banks
is 12s out of total of 1896 farms
on which these banks have made
loans, or one-fifth of ! per cent.
The total farms acquired by both
Federal and joint stock land banks
is 1886, or a fraction over three
tenths of 1 per cent.
Eight Years LOSSES Slight.
The number of foreclosure pro-
Ccedings instituted by the Federal
Land Banks is 4,701, but the total
number of farms acquired is only
1.271; the number of foreclosure pro-
ceedings instituted by joint stock
land banks is 435. but only 125 re-
suited in the banks acquiring the
farms"
The losses sustained by the banks
have been negligible, according to
Gov Cooper He says: The losses
go far sustained by both Federal
and joint stock land banks duT-in e
a period of eight years on sales OF
real estate acquired through fore
closure is only equal TO one day.
net profits of the banks"
Gives Address on Credit.
In an address before the District
Life Underwriters Association Col.
Wade II. Cooper, president of the
Continental Trust Company and the
United States Savings Bank, de-
Clared recently the three elements
in credit were character, capacity
and capital" The speaker brought