Evening star., 1932-10-04
Report Shows Cash Advanced
to Agriculture, Industry
and Commerce.
MORE THAN $50 MILLION
ALREADY PAID BACK
$500 Borrowers Receive $1,118,-
532,968 and 507 ,632 Farmers
Are Loaned 64 Millions.
BY the Associated Press.

BY the Associated Press.
Advances Of s1,182.734, ,958 ''in actual
cash to aid agriculture. commerce and
industry to recover from the depres-
sion" were announced today by the
Reconstruction Corporation in a sum
mary of loans made during its first
seven months Of operation
From February through August 81
the corporation said 81 l,118,532 1858 was
loaned to $500 borrowers and s64,-
201 ,s89 through the Secretary Of Agri-
culture to 5O7,632 farmers for crop
production purposes
In addition, advances to States and
political subdivisions for relieving dis
tress were totaled by the corporation
at s35,455,171 from the enactment OF
the relief law in July to the close Of
business September 80.
The corporations statement showing
that its financial operations have in
volved approximately one-third of the
$1,000 100000 fund placed at its dis
posal by Congress, dealt only with gen
eral statistics and did not mention in
dividual borrowers. Its chairman. Atlee
Pomerene. has protested the ruling of
South Trimble. clerk of the House,
making public the July report to Con-
gress on individual loans, and Trimble
is expected to decide Thursday whether
the August loan report will be made
public.
The corporation said that of its
on August 81 had repaid sl5o,890 1877
leaving 1867 .642.07l outstanding. Loans
of s226 10l 1853 had been authorized in
addition to cash actually paid out, but
S35, ,5644l2 Of this amount was can
celed by the borrowers and $40, $50, ,855
had not been called for.
Applications Decline.
THE statistics further show" the
corporation said. that there has been
steady decline in applications for
loans from banks since April. In that
month 1869 applications were received,
and in August only 899."
Farm loans made by the Secretary
OF Agriculture averaged $12647 each
and were made in every State except
Rhode Island. Arkansas led in the
number of individual loans with 1896.
NTcO[Bld was IcAt Will ff,lCo dlQ Mis-
sissippi third with 40,066
The corporations direct cash loans to
$500 borrowers included:
Four thousand three hundred and
thirty-four banks and trust companies
open with the loans were made; 39l re-
ceivers of banks closed when the loans
were made 643 building and loan asso-
Citations, 79 insurance companies. SO
mortgage loan companies. 40 railroads,
II live stock credit corporations. 10
agricultural credit corporations. 9 Fed
eral land banks. joint stok land banks,
and credit unions.
The corporation authorized loans to
ATS separate banks located as follows:
1921 in towns of less than 5000 pop
ulation: 754 in cities of 5000 to 25.-
600; 332 in cities of $4,000 to 100000:
157 in cities Of 100000 to 100000:
81 in cities OF 100000 to 100000. and
"a in cities larger than 100000 pcpu-
lation.
Total applications for business loans
up to August 81. were gi.en by the
corpor alton as 1851, of which e,584 were
from banks and trust companies. The
peak was reached in April, with 1927
and dropped of gradually to l.l51 in
August.
1T is the expectation of the corpo-
ration" the corporation said that
number of loans to finance projects to
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