APPENDIX NO. 3 



FISH AND WILDLIFE SERVICE 

 For Release OCTOBER 17, 1956 



TERMS OF NEW FISHERIES LOAN FUND ANNOUNCED 



Terms and conditions for the granting of loans under the newly created fisheries 

 loan fund, authorized by the Fish and Wildlife Act of 1956, were announced today 

 by Secretary of the Interior Fred A. Seaton. The loan fund will be administered 

 by the Fish and Wildlife Service. 



The regulations establishing the required administrative procedures were 

 signed by Secretary Seaton on October 15 and will be published in the Federal 

 Register on October 18. 



The loan fund was created under the authority of the new Fish and Wildlife Act, 

 approved by the President on August 8, which empowered the Secretary of the 

 Interior "to make loans for financing and refinancing of operations, n^aintenance, 

 replacement, repair, and equipment of fishing gear and vessels, and for research 

 into the basic problems of fisheries." 



Secretary Seaton explained that the rate of interest on all loans granted is fixed 

 at five percent per annum. The period of maturity of any loan shall be determined 

 and fixed according to the circumstances, but in no event can it exceed a period of 

 10 years. 



Loan application forms and instruction sheets for filling out the forms, plus a 

 copy of the regulations as signed by Secretary Seaton can be obtained from the 

 Fish and Wildlife Service beginning on October 22. 



Persons in the United States and territorial possessions who desire loans should 

 obtain an application form and instruction sheet from the nearest Fish and Wildlife 

 Service Fishery Market News Office. These offices are located in New York City, 

 Boston and Gloucester, Mass., Hampton, Va., New Orleans, La., San Pedro, 

 Calif., Seattle, Wash., and Chicago, 111. In Alaska applications may be obtained 

 from the FWS Fishery Products Laboratory in Ketchikan and the FWS office in 

 Juneau; in Hawaii from the FWS Laboratory, 2570 Dole Street, Honolulu. 



Forms are also available from the central office of the Fish and Wildlife 

 Service at Washington 25, D. C. Completed application forms may be sent to 

 Washington office of the Service or to the field offices fronn which application 

 forms were obtained. 



Street addresses of the Fishery Market News Offices are as follows: 



Boston, Mass., Rm. 10, Commonwealth Pier 

 New York City, 155 John Street 

 Hampton, Va., 18 S. King Street 

 New Orleans, La., Federal Building 

 San Pedro, Calif., Post Office Building 

 Seattle, Wash., 421 Bell Street Terminal 

 Chicago, 111., Rm. 618, 565 W. Washington Street 

 Gloucester, Mass., Post Office Building 



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P.N. 5658 



