New Britain herald., 1928-05-23

OF the t. federal land bank districts.
an ex-of1icio member. The president
would select the hoard with senate
approval.
Section S--Deflnes general powers
of board such as right TO selnct
chairman, esta hllSh offices in Wash
ington and fix salaries of its en-
rloyes II also directs the board to
keep advised as to the general sup
ply and demand situation with re-
spect to any agricultural commodity,
Section 4-Provides for the crea-
ton of commodity councils of seven
modify The members Of these
councils would be selected by tho
board from lists submitted by farlu
organizations and the governors of
states. These councils would deter
mine when the equalization fee
machinery would be placed in oper-
alton on the commodity they respec-
lively represented
Section 5--Provldes for loans by
the board to co-operatives or their
subsidiary corporations to assist lin
controlling a seasonal or years total
surplus produced in the United
States and either local or national
in extent that is in excess of the re
quirements for such commodity"
1t also provides for loans for the
purpose OF providing CO. operatives
with working capital and working
facilities.
Section 6-Dcsigned to discourage
abnormal expansion by providing
that If the advice of the board as to
a program of planting or breeding
of any agricultural commodity is dis
regarded by the producers, who, con-
trary to the advice. increase the
planting or breeding abnormally the
board may refuse advances for the
purpose of surplus control.
Section 7-Confeis the additional
powers of Investigation upon the
board to determine whether a sur
| plus Of any commodity exists or is
| likely to exist: whether the surplus
| threatens to depress the price OF d
commodity below the cost of pro-
| duction and whether the nature OF
the commodity adapts it TO safe
storage or future disposal.
Section S--Provldes for the crea-
ton of clearing house and terminal
market associations TO coordinate
/ the activities of shippers in prevent
/ ing gluts upon the market.
/ Section 9--E.mpoNers the board &c
enter into marketing agreements
and (subjact to the consent OF ad-
1isory councils previously referred
, to- to place the equalization fec
machinery in operation. The nego-
| tiation OF the marketing agreements
would be dependent upon findings
| by the board as 10 hef her the pros
pectlye surplus would he IN excess
/ Of the domestic raquiremen Whef
the findings are made by the board
marketing agreements would he con
summated with the cooperative as,
soclations TO provide for the stora g
of the commodity by the co-opcra'
tivcs and its purchase and dispose
by the board The board could ad
vance funds from its stahillzatio,
fund 10 AID the Co-operativcs il
carrying ont the marketing agree.
mcnt.
Section lo-pro>ide for thu
equalization fee machinery. Th'
funds obtained from lcvyinE the fee
| would be used to repay amy amount!
advanced from the revolving fund
The fee would he assessed in Gael
! commodity marketed by the board
thus compelling the producers tt
contribute their share of the costs
and losses incurred in The disposition
OF the surplus Tho board ould b.
required TO estimate in Alliance o
any marketing period in which the