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L A. A. RECORD— January, 1934 



Farm Advisers Report 

 .Many Ask For Loans 



Reconstruction Finance Corpora- 

 tion, Chicago, Sends $1,121,- 

 000 In Cash Into Illinois 

 And Iowa First Week 



'Reports from county advisers re- 

 ceived by the I. A. A. Record indicate 

 that thousands of farmers in all of the 

 major grain producing counties are 

 taking advantage of the federal loans 

 of 45 cents a bushel on corn stored in 

 sealed cribs on the farm. 



Estimates as to the percentage of 

 farmers holding com who will apply 

 for loans vary in the different coun- 

 ties from one up to 75 to 80 per cent. 



J. E. Harris, farm adviser of Mercer 

 county, believes that the loan of $1125 

 on 2500 bushels of corn made to E. R. 

 Pattison through the Seaton State 

 Bank on December 11 is the first loan 

 to be cleared in the state. 



Guy Husted of Cass county esti- 

 mates that 75 per cent of farmers hav- 

 ing corn will apply for loans in that 

 county. 



Edwin Bay of Sangamon county 

 estimates that 30 per cent will apply 

 for loans; R. J. Laible of McLean 

 county estimates 50 to 75 per cent. "If 

 the price of corn stays low for another 

 two or three weeks probably 25 or 30 

 per cent of our farmers will apply for 

 lofins," writes G. F. Hoover of Douglas. 



C. E. Johnson of Iro- 

 quois county estimates that 

 60 per cent of farmers 

 having corn there will ap- 

 ply for loans; A. A. Olsen, 

 Warren county, estimates 

 60 to 60 per cent; S. S. 

 Davis put the figure at 50 

 per cent for Piatt county; 

 H. M. Christian, Massac 

 county, not to exceed five 

 per cent; Shelby county 

 around 50 per cent of those 

 holding com; Livingston 

 county 50 per cent; Mc- 

 Donough 25 per cent esti- 

 mated by R. C. Doneghue; 

 Henderson 65 per cent; 

 Mason county 50 per cent, 

 according to C. S. Love; 

 R. N. Rasmusen, DeKalb 

 county, estimates that 15 

 per cent in that county will 

 apply for loans; Alfred 

 Tate, Scott county, esti- 

 mates 15 per cent; F. H. 

 Shuman, Whiteside county, 

 20 to 25 per cent. Shuman 

 reports that sealing started 

 Dec. 11 when 150 farm- 

 ers had applied for 

 loans. 



In Tazewell county G. H. Iftner 

 reports that 95 had applied for 

 loans on Dec. 14. A. B. Schofield, 

 chairman of the Ford County Ware- 

 house board, stated that applications 

 for sealing ran close to $100,000 the 

 first day the board met. "It looks like 

 80 per cent of the corn in Ford county 

 will be sealed for loans. Farmers 

 throughout Illinois should appreciate 

 the work of the I. A. A. in securing 

 the enactment of the State Warehouse 

 Act, continued Mr. Schofield. We esti- 

 mate that our farmers will net about 

 6% cents a bushel more for corn than 

 farmers in Indiana and other states 

 which do not have such an act." 



A total of 420 farmers in McLean 

 had applied for sealing of cribs on 

 Dec. 14 when 110 loans had already 

 been made on 250,000 bushels. 



A number of county advisers re- 

 ported that banks were hesitant about 

 taking the com loan paper because 

 they were not familiar with the pro- 

 cedure for discounting the loans 

 through the R. F. C. ; ' 



The Reconstruction Finance Cor- 

 poration in the Federal Reserve Bank 

 Building, Chicago, has been swamped 

 with work for more than two weeks. 

 Paper is being cleared as rapidly as 

 possible, however, and money being 

 sent out into rural communities. 



On Saturday, Dec. 16, a total of 

 $1,121,000 in cash had been sent out 

 on corn loans mostly in Illinois and 

 Iowa. Forty employees were busy 



LET'S BUILD FOR STRENGTH 



checking paper sent in by count 

 banks and other local loan age 

 The loans are charged to th 

 modity Credit Corporation but all de- 

 tails are being handled by the R. F. G. 

 In extreme northern and southern 

 Illinois comparatively few com loans 

 will be made judging from farm ad- 

 visers' reports due to the fact that 

 nearly all com produced will be used 

 for feeding. 



3860 New Members | 



Count Since Dec. 9th 



Complete reports as of December 9 

 indicate that from October 9 to De- 

 cember 9, a total of 8860 new Farm 

 Bureau members were signed and paid 

 for in the State Farm Bureau Mobili- 

 zation Campaign states Secretary Geo. 

 E. Metzger. In the organization of 

 the campaign, the state was divided 

 into three sections, Northern, Centra) 

 and Southern. New members, accord- 

 ing to sections, are as follows: north- 

 ern 1489; central 1191; southem 1180. 

 Several reports have been turned in 

 to the office since December 9. These 

 have not been included in the figures 

 above. Marshall-Putnam is now get- 

 ting busy, signing members and col- 

 lecting dues. Henderson county in the 

 week ending Dec. 16 signed 26 new 

 members, making a total of 175 new 

 members — the state record. Mason 

 county signed 12 new 

 members last week, bring- 

 ing its total during the 

 campaign to 160. Leon- 

 ard Keith, captain in Ma- 

 son county, says they are 

 going to reach the 200 

 mark by January 1. 

 C. H. Wishop, captain 

 in Winnebago county, re- 

 ports that 23 new mem- 

 bers were signed and 39 

 delinquents restored since 

 the first of December. 

 Cumberland county signed 

 13 new members last week, 

 bringing its total for the 

 campaign to 53 new mem- 

 bers. 



Captains should see to it 

 that their membership 

 campaign is wound up 

 under the present agree- 

 ment on December 31, says 

 Mr. Metzger. Captains and 

 lieutenants, however, may 

 continue until January 6 

 to sign new members who 

 pay their dues at once and 

 to collect post-dated paper 

 due and payable on or be- 

 fore December 31. 



