Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-03-31
GROUP PICKED
FOR SEED LOANS
Eligible Pine Farmers May
Apply Through County
Committee.
Six Regulations for Appli-
cantS Listed; Limit of
$500 to Each.

In compliance with the seed loan
facilities established some time ago
by the government and announced at
that time in various localities an ad-
visory loan committee consisting OF
A. E. Eddy of Hinckley as chairman,
Chris. Frederiksen, Askov; and Erwin
Nelson of Pine City, has been APP
pointed for Pine county and this body
will accept applications for loans
from Pine county farmers. Loans may
be had for seed or for other crop
production uses and are provided for
under the Reconstruction Finance
Corporation Act of Congress approved
January %.
Farmers wishing to apply for loans
must secure official application
blanks. which will be available from
the various banks, committeeman, and
the county agent. These blanks must
be filled out completely in triplicate,
and submitted to the county loan COM
mittee, together with a promisory
mote, fully executed for the amount of
the loan. payable on or before Novem-
Der 80. 1882, with interest at 81.
per cent and with a first mortgage on
the crop as security. Loans will be
granted only when the applicant COM
plies with all the regulations and has
the approval of the county loan COM
mittee and the secretary of agricul-
ture.
Not Over $500 to Each.
Following are the principal regula
lions governing the crop production
loans:
1. In general. loans are available
to any farmer having acreage fit for
seeding. but who is without means to
purchase the supplies necessary for
crop production during 1882.
.. No loan will be made to a minor,
nor to an applicant having means
of livelihood other than farming, nor
to anyone who did not operate farm
in 1881. No loans will be made for
summer following, nor for total acre
age of crops in excess of the average
of the acreage planted by the borrower
in 1880 and 1881. Loans will not be
made for the purchase of machinery,
or livestock, or for the feeding of live
stock other than work stock used in
crop production, or for the payment
of taxes, debts or interest on debts.
3. No loan to any applicant may eX-
coed $500, nor may the total of loans
to tenants of any one land owner in
a single county exceed $1,000 In
counties where fertilizer is not COM
monty used loans will be based on
the approximate cost of supplies re-
quired, but shall not exceed $500 per
acre, except for truck crops, includ
ing potatoes, for which loans may not
exceed $1,000 per acre. Loans for
fertilizer will be granted only in coun-
ties where its use is deemed necessary
by the county loan committee. In
such counties loans will be based on
the approximate cost of all needed
crop production supplies. including
fertilizer, but may not exceed $500
per acre, except for tobacco and truck
crops, including potatoes, on which
the maximum shall be $40 per arce.
Not more than 81 per acre of loans
may be used for repairs and miscel-
laneous expenses of crop production,
other than seed, fertilizer, feed for
work stock, and fuel and oil for trac-
tors
4. The right is reserved to make
loans at rates lower than those quoted
above. Applicants must agree to use
seed and methods approved by the
Department of Agriculture through
the county loan advisory committee or
county agent.
s. Applicants must agree to plant
a garden for home use and sufficient
acreage of feed crops to supply feed
for livestock.
6. Any person knowingly making
any material false representation for
the purpose of obtaining loan may
be punished by fine not exceeding
$1,000, or Imprisonment, not exceeding
six months, or both.
Further information about eligi-
bility for loans, amounts obtainable
and regulations can be had, by any
one interested, from members of the
county advisory committee or the
county agent.