received but declinations, ineligible applications, and withdrawals kept require- 

 ments well below the $10 million appropriated. Eighty -eight applications were 

 received during December 1956. During January 1957, only 16 were received but 

 during the remainder of the fiscal year this varied between Z2 and 41 applications 

 per month. The large volume of applications in December represented a pent-up 

 demand for financial assistance of this type. As the payments of principal and 

 interest received are credited to the revolving fund, income is added to the 

 original amount appropriated to provide funds for additional loans. 



At the end of the 1957 fiscal year $ 6,350,000 was available in the fund. Applica- 

 tions totaling $6,040,000 were pending. However, a considerable number of these 

 will probably be withdrawn, and of necessity will have to be declared ineligible 

 or declined. Accordingly, the monies available are sufficient for the immediate 

 requirements of the fisheries loan fund. 



MS #1017 



