Thurs., March lfi,
Herald & News
1!ir,1 Pas 9-
Klamath Falls
Regulations
For
Farming
Loans Eased
WASHINGTON (UPIi - Agri
culture Secretary Orville L. Free
man has eased the regulations
which apply to government farm
operating loan.'; for small farmers.
The effect of the move is to
make loans available to a number
of farmers who could not qualify
for this type of government
credit in the past.
The loans involved arc made
by the Farmers Home Adminis
tration (FHA) to pay farm op
crating expenses. They can be
used to buy livestock and equip
ment, fertilizer, tractor fuel, and
other farm and home operating
needs. The loans are approved!
only for farmers who can't get'
credit from normal commercial
or co-operative agencies.
In the past, small farmers have!
been able to get these loans only
under one of two conditions. The
farmer had to have a full,
family-size farm operation, or he
had to have an outside job to
supplement his farm income.
The new regulations drop these
requirements. Loans can now be
made to small farmers who can
use the money to increase their
farm income and who have the
ability to repay their debt. The
loan can be made even if the
farmer doesn't yet have a full,
family-sized farm or an off-the-farm
job.
This applies, for instance, to
young farmers who expect to get
enough additional land soon to
qualify as family-sized operators.
It applies to farmers on small
units who expect in the near
future to get supplementary non
farm jobs. It applies to farmers!
nearing retirement.
In the past, these farmers were
not eligible for FHA operating
loans. Now, they are.
FHA expects to loan a total of
$232 million in operating funds in
the year ending June 30. About
$52 million of that amount was
still available for loans this week.
Not all of the $52 million will be
available to the newly-eligible
borrowers,, however. Much of it
will be needed for farmers who
were already eligible before to
day's change in the rules.
Freeman conferred in Washing
ton Tuesday with spokesmen for
the American Soybean Associa-i
tion. Freeman said later he is
still trying to get information!
from the soybean industry before
finally deciding on the 1061 sup
port price for the crop. j
Freeman met with Charles
Simpson of Waterville, Minnesota,
and George Straycr of Hudson,
Iowa. Simpson is president of the
Soybean Association, and Strayer
is executive vice president.
The Agriculture Secretary ear
lier had said he planned to set
the 19fil soybean support at $2.30
a bushel, up considerably from
the 1960 support rate of $1.85 aj
bushel. The Soybean Association
has said Freeman's proposed rate
is too high, and Simpson said
Tuesday that although his asso-j
ciation does not want to throw
any roadblocks in the secretary's
path, growers are' concerned
about surpluses. In the long run,
Simpson said, growers don't want!
supports put so high that they'd
lead to a surplus buildup.
The Agriculture Department
says that the surplus carryover
of soybeans at the end of the!
current marketing year will be i
down to 10 million bushels, or
less.
When the marketing year be
gan last fall the carryover was
23 million bushels. This means
thai farmers will market the
entire I960 soybeans crop without
meeting the full demand for their
crop. About 13 million or more
bushels from earlier crops will
have to be drawn out of storage
to meet demand during the cur
rent season. The I960 crop of 559
million bushels was the second
biggest in history. ,
Third Student
. ATHENS. Ga. (AP The Uni
versity of Georgia, which ended
175 years of segregation by ad
mitting two Negroes in January,
now is considering the application
of a third Negro.
Dean O. B. Huff of the graduate
school said the application of At
lanta music teacher Mary Fran
ces Early is getting routine pro
cessing.. Saved Money
MOXTLIGNOV. France 'API
Suzanne Papaut worked long
hours in the little inn she ran and
lived frugally for years on only
bread and milk.
Villagers felt sorry (or her.
When she died recently at the
ace of 73. villagers found she
owned several estates and had
hoarded gold coins worth more
than $;on.oon.
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