Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-04
FARM OWNERSHIP
INCREASE RECORDED
Bank Heads Report Low Cost
of Land Encouraging in
Agricultural Areas.
BY DAVID LAWRENCE.

Y BY DAVID LAWRENCE.
Telegraphic reports received within
the last "a hours from virtually all the
Federal land banks emphasize the pres
ent low cost of farm land as one of the
encouraging features in the agricul-
tural areas Of the country for the new
year. An increasing interest in farm
ownership among urban residents is
recorded.
The last year has not been a favor
able time for agriculture, hence the re-
view of the year given by the presidents
of the land banks refers to the short
crops due to the drought, the low COM
modify price level and other adverse
factors. Payments. however, to land
banks have been well maintained by the
majority of the farm borrowers and
demands for new loans are being met
by the land banks. Applications for
long-term mortgage loans are increas-
ing. The morale Of the farmers is
generally good, with no such feeling
Of pessimism or depression as appears
to be found in the cities" according to
z. H. Thompson, president of the Fed
eral land bank which embraces New
York and the New England States.
Borrowers Meet Payments.
President Walden Of the Federal Land
Bank of Baltimore states that borrow
ers have been able to meet their amor
tization payments In very satisfactory
way. He adds:
I'VE have an abiding faith in the
honesty and integrity of our farmer
borrowers and believe they will put
forth every effort to meet their obi
cations to the bank"
Farmers in the district embraced by
the Federal Land Bank of Columbia,
Q ~ 10 ~ he n
versif1cation of crops and improved
farming methods" according to Presi-
dent Frank H. Daniel.
yield of crops in the four States
comprising this district this year,
telegraphs Mr.. Daniel, was unusually
good. Notwithstanding low prices COM
paratively few failures have occurred
and our collections have been good.
Undoubtedly heavy reduction will be
made next year in acreage of main
money crops, not altogether from
choice, but partly from necessity.
There is apparent general improve
ment and morale, not only among
farmers, but also among the public at
large. Ranking second only in impor-
lance in this improved morale is the
willingness of those in position to do so
to lend aid to those less fortunate.
The outlook for 1881, while not bright,
Is being viewed by our people in an
optimistic way"
Loan Demands Increase.
President A. G. Brown Of the Federal
Land Bank Of Louisville, which en-
braces the States of Tennessee, Ken
lucky. Indiana and Ohio, states that
the great majority of borrowers are
paying promptly and that during the
past year the bank has been able to
grant all applications for sound loans
which come within the provisions Of the
Federal farm loan act.
THE demand for loans, however, has
increased during the year somewhat"
says Mr. Brown. This is attributable
to the decline in land values, increase
in taxation, inability of the bank and
associations under the law TO make
large enough loans TO take many Of the
short-term loans on farms because they
are larger than the law will permit
genuine diminution of demand for
first mortgage farm credit"
The volume of new loans has also
fallen OF in the district presided over
by President Wood Nesherland Of the
Federal Land Bank of ST. Louis He
says that substantial number of farm
sales have been made throughout the
district and that much interest in farm
lands viii be manifested during the en-
suing year. particularly If unemploy-
ment in the cities should continue, ''for
many people are learning that the farm
Is one place where a family may buy
. home and job at the same time.
More Diversified Farming.
From the Northwest also comes re-
ports of increasing sales of farm lands
with the number being so per cent
higher than in 1929 and so per cent
higher than in 1928. President Kla-
won of the FEDERAL Land Bank of St.
Paul; MINI, remarks that the past 10
years Rave brought forth decided in
crease in diversified farming thus giving
our farmers added means for combating
unfavorable conditions. a
Collections are not as good as last
year, but they are satisfactory con-
sideTmg general conditions" according to
President Hogan of the Federal Land
Bank Of Omaha, while President Fields
OF the Federal Land Bank of Wichita
reports IAN increasing demand for farm
land" and states that borrowers have
made earnest efforts to discharge their
obligations 20 the bank Notwithstanding
drought conditions and low prices for
farm products
Farms and ranches in the district en-
braced by the Federal Land Bank Of
Houston, Tex. are now generally in
satisfactory condition due to good sea
CSA4 NAAAOASAAOuL LIE 11l5 b
the word from President Gossett who
ADDS that the outlook justifies the belief
that both the Federal Land and Inter-
mediate Credit Banks will render a
large and useful service in 1881"
Morale Of Farmers Good.
Prom the Federal Land Bank Of Berk-
eley Calf. President Ellis telegraphS
that while 1880 conditions made it dim
cult for farmers because of the series
OF dry years and the increased irrigs-
ton costs the morale Of the farmers is
good.
The low commodity price levels rather
than short crops has been the princi-
pal factor affecting agriculture ad-
versely in the States Of Washington.
Montana, Oregon and Idaho comprising
the twelfth Federal land bank district.
PRESIDENT Ehrhardt Of the Federal Land
Bank OF Spokane says that the outlook
Tor agriculture is not bright, but that
The picture would be entirely drab"
were 1t not for the fact that with in
oustry less active and the labor situa-
tlon unsatisfactory, the city has lost its
lure Of steady job and good wages.
This is retsrding farm abandon
ment," he says. and many big families
are now turning to the farm, not with
the thought OF making money so much
as for the purpose Of existence"
Generally speaking most of the land
bank presidents believe that the pres
sure Tor employment will result in
better balanced situation as between the
CUES and the country districts.
fCopyright. I93l)
LADY CHOLM0NDELEY