Evening star., 1932-11-16
R. F. c. LOANS DROP
TO NEW LOW LEVEL
October Applications Decline
to 601-Nine- Month Total
Is $1,397,596,03
DYNAMITE USED TO DIVERT RIVER.
BY the Associated Press.

By the Associated Press.
Loan demands of agriculture, COM
merce and industry on the Reconstruc-
ton Finance Corporation dropped to
new low levels in October, the ninth
month of its existence, but brought the
total Of such advances for the entire
period to $780,, ,59e,O33.
In its monthly review Of operati tions
the corporation said only COL appli-
cations for business loans were filed
in october. This compared with 1,527
in April, the high month, and continued
to the steady decline since that time
Corporation funds still outstanding
in business loans at the close of Oc-
tober totaled $1,144,058,98 after re-
payments of $253,537. .o52 had been
made, chiefly by banks and railroads
All such loans authorized in the nine
months aggregated 81, l,843 ,670,253.
The corporation has loaned more
money than the combined total of its
$500, 100000 capital and $50 900 900
note issues. Money repaid by borrow
ers Is Immediately reloaned if there is
demand for it,
Banks Repay s21I,32S,013.
The review showed banks have re-
paid S2l1, ,328,013, or nearly 81 per cent
of the money loaned them.
The total funds loaned include $64,-
204, SOB disbursed by the Secretary OF
Agriculture to 507,63 farmers for crop
production purposes. Up to October 81
farmers had repaid S11 ,952,52
Regional agricultural credit corpora
tions created by the Finance Board
loaned S1,l66,214 to farmers and live
stock men. OF this $500 had been re-
paid. Between November / and Mo-
vmber IL these institutions loaned an
additional $742,0
The $1,843. $40, ,243 total of authorized
loans included S53,170,47l later can
celed by applicants and 1892 ,so3, ,74s
still held in the Treasury for borrowers.
Loans to Railroads.
The corporation analyzed railroad
loans as follows:
Among the commitments made since
February 2 (the date operations be-
gam were loans to SIS railroads aggre-
eating $3.50, ,293 ,202, to be used for the
following purposes;
For completion of new construction
work, $47,746, ,483; for construction and
repair Oh eQulpUletlb hilu buhOAAb WAC
Dotsero cutoff, $10,050,0 900; to pay in
terest on funded debt, $7S,959,547; to
pay taxes, sic SOC, ,946; to pay past due
vouchers for wages, materials, supplies.
etc, $19,630, ,040; to pay principal OF
maturing equipment trust notes, $l9,-
I60,513, TO pay of or reduce loans from
banks, S37, ,788 300; to pay other loans,
sl5,843, ,526; to retire maturing bonds
and other funded debts, SAL, 1883;
miscellaneous $5,364.62s.
s5s,Os9,93S Relief Loans.
"All of the loans enumerated above
bear per cent interest, and 6 per cent
interest was charged on all other loans
| to railroads"
Up to the close of business October
81 the corporation had loaned $5s,-
| O89 ,933 to SO States and 2 Territories
| for direct and work relief. For the
same purposes $5,3l3,785 was made
available to political subdivisions OF
| States
Between October 81 and November IA
additional relief loans of $9,257, ,6s8 were
made, bringing aggregate relief ad-
vances for 35 States and Territories
to S67,347,63l Most of this sum Is
made repayable by deductions from fu-
ture Federal-aid road contributions.