Kankakee Valley Post, Volume 2, Number 43, DeMotte, Jasper County, 9 March 1933 — LOCAL INSPECTOR READY TO HELP FARMERS APPLY FOR CROP LOANS. [ARTICLE]

LOCAL INSPECTOR READY TO HELP FARMERS APPLY FOR CROP LOANS.

Regulations for 1933 governing crop production loans have been issued by the Secretary of Agriculture and are now available to farmers in this county upon request to the Inspector of the Crop Production Loan Office. The Inspector’s Office is located in the office of the County Agent at Crown Point. Instead of writing to Washington or to one of the regional loan offices the Inspector announced, farmers can obtain the necessary application blanks for loans, and detailed information about the requirements, direct from him. Applications will then be reviewed by the County advisory committee, then certified and forwarded to the regional office at St. Louis for final approval and action. The maximum permitted to any one borrower this year is $300; or, in the case of tenants, the total of all loans to tenants of any one landloard within a single county cannot exceed $1200. The actual amount advanced by the authorities will depend upon the borrower’s requirements. A first lien or mortgage on the crop will be required. The regulations require that loans be repaid on or before October 31, 1933. Interest at 5 1/2 per cent, deducted in advance, will be charged. Since the loans call for a first lien on the crop as security, the borrower frequently has to procure waivers from prior mortgages or rights. If the applicant is a tenant or is farming land under contract, for deed or so-called crop contract, or has given a prior mortgage on his 1933 crops; the regulations state he must secure the waivers of the actual owners of the land, and, or all prior mortgage holders. If the applicant is the owner of the land and farms it with tenants or share croppers, waivers of such tenants or share croppers must be secured. The regulations must agree not to dispose of his rent note, mortgage or other security without first having obtained the written consent of a duly authorized agent of the Secretary of Agriculture. Everyone interested in making a crop production loan should notify County Agent L. E. Cutler of Crown Point at once so that he can be notified as soon as the application blanks arrive. The District Inspector will be at Mr. Cutler’s office on Saturday, March 11, for consultation with anyone who wishes to see him personally. Mr. Morse DellPlain, President of the Northern Indiana Public Service Company, today made the following announcement; no customer of the Northern Indiana Public Service Company need have any fear of losing his prompt payment discounts because of inability to pay bills during the period of the Bank Moratorium announced by the President of the United States, today, March 6th. Should the Moratorium be further extended, ways and means of protecting the treasury of the Company with fairness and without undo hardship to the customer will have to be worked out. In the report of the death of Miss Ruby Anne Yeagley in last weeks issue of the Post, cause of death was given as following an appendix operation, which was erroneous. Death was caused by influenza and plura-pneumonia.