Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-03-17
FARM INTEREST
is INCREASING
Rural Credit Department Receives
Large Number OF Inquiries for
Farms: Re.appraiSal Plan Saves
Considerable Money.


10 the farm" movement, reports by
&. F. Gaarenstroom, chairman, and
Thomas p. Frankson, secretary, of the
state Rural Credit board. show.
Mr.. GaarenStrOom states that
large number of inquiries have been
received by the bureau from prospec-
tive buyers, both in Minnesota and
in neighboring states and it seems
that with better prices and especially
with passage of the Frazier bill, re-
ported out favorably by SubcOm-
mittee of the senate, which would
enable farmers to refinance their
present mortgage Indebtedness at one
and half per cent interest and one
and half amortization, there is hope
for a better future for agriculture i'm
Minnesota. Mr.. Gaarenstroom stated.
Mr.. Frankson has worked out a
plan whereby all state-owned proper
ties operated by the bureau are being
appraised The re-appraisal of the
farms has been accomplished by ap-
praisers and field men who have ac-
tual knowledge of the properties and
are therefore competent to determine
II fair preSent-day valuation. The
cost of this work. including the re-
appraisal of AS farms by special en-
ployes previous to January 1. 1882.
will be less than $4,000.
To realize the enormous saving eff
fected through Mr.. Frankson'S plan,
it is only necessary to point out that,
according to records of the Minnesota
Rural Credit bureau i'm 1880. S77.S24
was expended for appraisals. While
this figure might be misleading be-
cause former boards have carried a
large number of collectors and field
men under the item, appraisal en-
penses,' instead of placing them on
the payroll, as they should have done,
still the difference is so marked that
ii becomes at once apparent that a
great saving has been effected
Since its organization, bureau rec
ords show, the state has spent S407,-
942 for appraisal expenses with total
of 1890 properties appraised i'm var
ious parts of the state in this period
"Bureau-owned farms are netting
the state approximately two per cent
gross income" Mr.. Gaarenstroom con-
tinued. ION this bisis. the state is
losing approximately two and half
per cent. or 900. annually"
There is steadily growing de-
mand from taxpayers, especially in
the northern part of the state, where
a majority of State-owned lands are
located" Mr.. Frankson said, ito get
these lands back on the tax lists.
With the plan now being worked out.
which includes the sale of state farms
To actual farmers, including many
present tenants and prospective set
tiers from other states where cOndi-
lions are less favorbale than in Min
nesota. it is hoped that a substantial
number of farms can be sold at fair
prices and thus returned to the tax
rolls
Sales records recently revealed
$500 acres, spread over "a former
State-owned farms in various parts of
the state, have been returned to coun-
t. tax lists in the last six months
equipped farmers from Minnesota, as
we'll as nearby states. Of these, -
farms, representing. 1892 acres, have
been sold in the last 60 days. A
dozen other deals have been made and
are awaiting approval.
In the siX-mOnths period. the value
Of the land sold was $3.50, $50, of which
$50 900 represented sales the last two
months. Records as of March l re-
veal the state now owns 1851 farms,
as compared with 224O February l,
with an increase to 1900 forecast by
January /, 1888.
With reappraiSals now complete, the
state has its new farm selling pro-
gram in full operation, members of
the board striving to place as many
State-Owned farms as possible back
on county tax rolls in 1892, thus re-
lieving taxation on other land owners.
A steadily increasing demand for state
farms from purchasers, both in and
out of the state, indicates healthy
return to the farm movement, Thomas
p. Frankson, secretary of the board,
said
THE state is finding its new re-
appraisal plan. originated by Mr..
Frankson, marked success" accord
ing to c. F. GaarenstrOom, chairman
of the board where the state for
merly spent approximately S21.64 a
farm for reappraisals, the new plan,
whereby salaried state employees are
doing the work, has cut this figure
to less than 81 farm. This, coupled
with the plan of selling farms direct,
without commissions, is attracting in
creasing number of buyers.
THE Minnesota legislature of 1881,
after making thorough investiga-
ton of the Rural Credit Bureau, rec
commended the bureau sell its farms
in an orderly manner at present fair
market values. The legislature real
lied the state was not in a position
TO operate farms it had obtained
through foreclosure at a profit and