The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1937-11-25
CornL oan Program
Will Release Half
Million In County
FARMERS LIKELY TO
BORROW BIG SUMS
ON STORED CORN

Thousands of dollars in cash
will be released in Redwood
county after the federal corn loan
program goes into effect Deem
Der /.
If rough estimate that 1000
farmers here filled requirements
for payment under the 1887 soil
program and are therefore eli
gible for corn loans, is correct and
each farmer seals 1000 bushels
there will be total county loan
of 100000. The government
loans so cents per busheI.
Redwood county soil conserva-
ton officials attended a regional
meeting in Window Thursday at
which the program was complete
ly explained. S. L. Park was
elected chairman of the county
warehouse board when they met
here Tuesday to nominate sealers
who must be approved by the
state railroad and warehouse
commission.
Harry S. Muir of Winnebago,
chairman of the state committee
which will direct the work, was
principal speaker at the meeting
which was attended by repre-
sentatives of Is southwestern
Minnesota counties.
Good Crib Essential
He placed particular emphasis
on the types of corn cribs which
will. be approved by the govern
ment and state soil conservation
committee.
In general, floors are insisted
upon which must be at least six
inches off the ground. Round
cribs must not exceed Is feet in
diameter and must be suitably
rooted.
County agricultural conserva-
ton committees to which produc-
ers will apply for loans, will check
the eligibility of producers for
loans, prepare loan agreements
and Qualifications recommending
the loans and perform other dut-
les in connection with making
the loans.
Under the terms of the corn
loan program for the 1887 crop,
eligible to borrow. Corn to be eli
at four per cent interest charge
on their crop collateral for
period Of 10 months. Loans will
be available December 1, it is ex-
pected and may be made up to
April 1. The loans will become
due 10 months following the date
upon which they are made, with
the possibility of an extension.
Farm owners or tenants who
participated in the 1897 agricul-,-
tural conservation program are
eligible to borrow. Corn, as eli-y
gible collateral must have been
raised in 1897. So
Two and one-half cubic feet of
corn testing 141z per cent or less
in moisture will be regarded as
buShel of corn eligible for loan.
For each one per cent increase in
the moisture content of the corn
in excess Of 1415 per cent there
will be a deduction of two per
cent in the bushels of corn as de-
termined by the cubic content of
the sealed cribs.
Corn Over 2Ok Out
No loans will be made on corn
having moisture content in ex-
cess of 2012 per cent.
Generally the corn loan pro-
gram will operate along the lines
followed in previous programs.
Official sealers, operating under
supervision of state warehouse
supervisory authorities, will take
samples of corn from each crib,
obtain all measurements of corn
cribs holding collateral corn and
will inspect each for construction,
ventilation and other information.
Samples will consist of shelled
corn taken from representative
lots Of SO to 100 ears from each
crib containing up to 1000
bushels and proportionately
greater number of ears will be
taken for samples from cribs con-
tanning more than 1000 bushels.
Corn samples will be tested for
moisture content by electric test
ing devices installed in state ag-
ricultural conservation offices and
this moisture content will be re-
turned to the county agricultural
conservation committees.
Corn collateral must be insured
f~y-