The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1934-07-05
Feed, Forage
Loans To Be
Avail a bl e
Gov. Myers of F. G.. A. An
/ nounces Relief In Drought
Areas Is Ready
TERMS ARE VERY EASY
E. I. Iverson Drouth Relief
" Manager in Charge of
Stearns County

Governor w. I. Myers, of the
Farm Credit administration, June
25thi announced that loans to farm
ers and stockmen from the drought
relief appropriation to purchase
feed for livestock and for produc-
ton of forage crops in primary
drought areas will be available this
week. The loans will be made
from the $525.OO0,OOO emergency re-
lief fund appropriated in the Act
of Congress, approved June 10, 1884.
The loans will be made to appli-
by the emergency crop and feed
loan section, Farm Credit admins
tration and handled through the
emergency crop loan offices since
they already have local loan COM
mittees established in every coun-
ty in the drought areas. Special ap-
plication forms have been sent to
these offices.
The loans will lbe made to appli-
cants who, because of the drought,
do not have the necessary feed to
maintain their livestock and must
produce forage crops, and do not
have the means or other sources of
credit available to obtain such feed
or undertake production of needed
forage.
The amount loaned to purchase
feed for livestock will be limited to
a maximum for each head and the
loans for production of forage crops
will be limited to a maximum
amount per acre, such loan limits
being determined according to the
cost of feed or the cash cost of
growing forage crops in the various
drought areas. The minimum
amount of loan or advance is $25
for either purpose. Loans will not
be made to purchase feed for live
stock acquired since April 1, 1884.
Security for the drought relief
loans will consist of the borrowers
promissory note accompanied by a
non-disturbance agreement signed
by each chattel mortgage lien
holder, except where the Ienholder
is production credit association,
regional agricultural credit corpor-
alton, Federal land bank, the Secre-
tary of Agriculture, or the Cover
nor Of the Farm Credit Administra-
ton.
In announcing these unusually
liberal security arrangements,
which do not require borrowers
from the drought relief fund to
give chattel mortgages or waivers,
Governor Myers stated that all
loans will be advanced in monthly
installments in amounts sufficient
to feed the approved number Of
livestock for one month or to pay
the months expenses required for
producing necessary forage crops.
Further advances will not be made
to any borrower who fails to OBJ
serve good faith by encumbering
his livestock, feed, or crops, or by
waving his rights to them after he
has obtained a drought relief loan
or advance.
The promissory notes given by
borrowers as security for drought
relief loans will mature November
1, 1885, with interest at the rate
Of 81 per cent annum. Intrest on
the loan until maturity will not be
deducted at the time the loan is
made.
Loans will not be made to appli-
cants whose principal business Is
the commercial feeding and fatten-
ing of livestock for market, nor to
any applicant which is a corpora
ton, unless its principal business is
farming.
The regular Stearns County COM
mittee will pass upon the applica-
tons.
e. I. Iverson, drouth relief man
ager has supervision for the coun-
ty office in the Court House, st.
Cloud.
Farmers Of Stearns county desir-
ing to avail themselves of the OPP
portunities afforded by this loan
should call at the county committee
office at once prepared to discuss
with them their financial conditions
particularly the number and con-
dition Of all of their livestock, their
Continued on page four)