The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-10-01
2 3 5 6 10 IL II
New York 81 O Ii 0 q 0 10 To- II II 81 n
Chicago n q 10 10 W u n 81 81 "a
Batteries For Malone May Timing and Hartnet
For New York-Pp gras, Pennock and Dickey.
X. F. c. Hopes to Relieve
Farm Mortgage Situation
To Advance Money to Agencies
Willing to Make New
Loans on Farms

Chicago. Oct. l.-(P)-The Ameri-
can farmer Saturday had been as
sured the whole power Of the Recon
struction Finance Corporation would
be used, through various established
agencies, to help the farmer keep his
farm"
The assurances were given at the
conclusion OF a conference held Fri
Gay at the suggestion Of President
Hoover.
Henry Robinson. Los Angeles.
chairman of the conference. attended
by representatives Of governmental
groups and private organizations, SAID.
after the meeting had adjourned:
The result Is that the whole powes
Of the Reconstruction Finance Cor
poration Is to be thrown back Of the
agencies which lend money and re-
ceive farm mortgages. The policy of
these united groups will be to help
the farmer keep his farm"
The meeting was attended by Sec
rotary Of Agriculture Arthur M. Hyde,
Gardner Cowles and Wilson McCar-
thy. directors of the Reconstruction
Finance Corporation. together with
representatives OF joint stock land
banks, insurance companies, federal
farm loan board, and the II regional
banking and industrial committees Of
the federal reserve system.
Statements Are Made
The various groups represented
- - 10 &c ~ q ~
future policies relative to farm mort
cages.
Directors Cowles and Mccarthy OF
the r. F. c. said: Eve, as represent
atives of the r. F. c.. personally ia
vor, and will recommend to our board
the rendering of liberal help to any
qualified agency. including banks, in
surance companies, building and loan
association, mortgage loan companies
which will make new loans on farms
on a sound basis at this time: and we
believe the board will act in accord
ance with our recommendations"
Assurance of cooperation in aiding
deserving farmers to avoid fore
closures were given by representatives
OF Inc OtICT dSeIlClcS.
Robinson said the expected out
come would be easing of farm credit
restrictions but with no moratorium
on farm mortgages.
The central committee of the bank
ing and industrial groups OF which
Robinson is head. called Oh its chair
men in the several districts, to set uE
groups. as many as were needed ano
located wherever necessary. to be
helpful In their areas In the matte,
of farm and ranch loans"
The executive committee of these
groups was authorized to proceed
further in the development OF q
method for making available FUND.-
for new loans on farm products" Thi:
group will meet next week at poin!
not yet determined.
The statement said in part:
Policy Is Framed
1.-THE r. F. G. made this statement
as to what it can do and will do:
Wilson Mccarthy and Gardne,
Cowles. directors Of the r. F. c.. said
1--WE as representatives Of the r
F.. c., personally favor and will rec.
ommend to our board the rendering
Of liberal help to any qualified
agency, including banks. insurance
companies, building and loan associ'
atoms, mortgage loan companies
which will make new loans on farm!
on sound basis at this time; and VI
believe the board will act in accord
ance with our recommendation"
Continued on page tWOI