The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1930-08-29
FARMERS i;A5IiG 81 UNION No CAN LOAN MONEY NJ
WHEAT UP TO 70 PER CENT OF V,, ~

Loans or advances of 20 per !
per cent of the net value of the
grain at any place where it is pro-
perly stored will be made to farm
ers affiliated with the Farmers
Union Terminal Association. of St
Paul, NJ. w. Thatcher, general
manager announced today.
These loans will be available !
whether the grain is stored on
the farms-in North Dakota and
Montana only-in the country ele-
vator, or intransit or interminal
elevators. The reason that farm
storage loans are available only
to farmers of North Dakota and
Montana is that the legislature of
those two states are the only ones
which have passed laws permitting
such storage certificates to be is
sued by the state.
"The loans will be generally on
the basis of 20 per cent of the
net value of the grain at the far
mers' local station" Mr.. Thatcher
said. However, it does not make
a particle of difference where the
grain is just so it is properly car
ed for or stored. The loans of
20 per cent of the net value are
available whether the grain is
the farm, in the country elevator.
in transit or in the terminal ware,
houses.
"The Farmers Union Terminal
Association made loans of approx
. imately S10,OO0,OO0 in handling
the 1929 crop. Practically unlim-
tied funds are available for loans
TO growers on the 1880 crop. We
expect to handle additional mil
, lions of bushels on a loan basis
for farmers this year.
Storage on farms presents the
cheapest method by which a farm
er may hold his grain in the hope
: that prices will be higher when he
desires to sell. The insurance
). storage and carrying costs are the
!. cheapest of any method of stor,
), age. The storage of grain OF
farms prevents that grain from
: showing up in visible supply fig
!, ures and further depressing prices
:, Without advising the farmer
to hold their wheat for higi.el
: prices or to sell it at the plesen
or any other time, if he desires t.
hold it, the farm storage methoC
e is the cheapest and most OF hi
!, advantage.
: Machinery for the making o.
loans to farmers on farm-storeC
: grain is now ready to be set il
j, motion. The machinery has bee,
: well over-hauled, oiled and Shout,
perform much more smoothly thai
!. a year ago, when the plan was en-
!. tirely new. Application blank
!, have been carefully prepared an,
funds will be available to farmer
more rapidly than on the 1872
crop"
Governor George Shafer an,
G Farm Storage Commissioners DIV
er Knudson of North Dakota wer
e recently visitors III St. Paul an
S conferred with the Federal Inter
It mediate Credit Bank officials al
n revised, improved and approve
d the application forms to be use
t this year for loans IN North Da
t kota.
{ The Farmers Union Termina
: Association was the only Cooper
/ ative in the United States to max
: loans on farm-stored grain On III
2 1929 crop.
n The experience gained in tn
o handling of farm-storage loans o
e the 1929 crop will be valuable
1 Very little was done in the farm
S stored loan business IN Montan
on the 1929 crop, but a few week
: ago A. H. Stafford, COMMISSIONS
n of Agriculture for Montana. i
i charge of farm storage, and N
e w. Thatcher and other Farmer
q Union Terminal executives. cor
i Quoted school in Great Falls. a
u which inspectors from variou
o counties, who had been selected 4
: countrywide meetings BY the fan
: mers themselves, were trained a
to how to make farm storag
n loans.
: Each of the states provides an
pllcatlon blanks for farm storage
The farmer must fill out thes
blanks as well as an application
TO the Farmers Union Ternins