Agricultural marketing revolving fund

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Monograph

Identifikator:: 1830514946

URN:: urn:nbn:de:zbw-retromon-221271

Document type:: Monograph

Title:: Agricultural marketing revolving fund

Place of publication:: Washington

Publisher:: Gov. Pr. Off.

Year of publication:: 1930

Scope:: II, 39 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Monday, december 15, 1930. Federal farm board. Statements of Alexander Legge, chairman; James C. Stone, vice chairman; and Chris L. Christensen, executive secretary

Collection:: Economics Books

AGRICULTURAL MARKETING REVOLVING FUND 11 Hh 3 it 0 ). 18 2 i fi + a iN i) 1, roy Mr. Avrus. You do not hold out much hope for the wheat pro- ducer of this country. Mr. Liscee. As an exporter; no, sir. Now, I think there is a great deal of hope. I think there is hope for western Kansas. We have literally thousands of reports from all over the United States as to the results of feeding wheat to livestock. I have yet to receive the first report in which the farmer does not believe that he is getting $1 per bushel in meat prices for the wheat that he is feeding to livestock. [hat may offer a solution of the surplus wheat problem, especially on wheat farms that are far removed from the consuming centers. They are feeding wheat quite heavily. You may take Mr. Long, for instance ; he is feeding at the present time 10,000 sheep and hogs. He 1s very well pleased with the results. Then, if you will take the biggest corporation farm in Kansas, you will find that thev are teeding 35,000 head of sheep on wheat. Mr. Avres. Do the reports you get indicate that wheat is just as 0 atouy as anv other feed. or is it as satisfactory as a cattle eed ? Mr. Lrcee. It is very satisfactory for feeding hogs and sheep especially. Lhe Craryan. It is mixed with some other feeds, is it not, for cattle ¢ Mr. Lecce. Yes; for cattle they use only about 25 per cent of wheat in the feed. Mr. Ayres. Is it all right for hogs and sheep? Mr. Lecce. Yes, sir. Mr. Ayres. It is all right as to hogs and sheep? Mr. Lrcee. As to hogs and sheep; that is not true as to cattle when fed in excess of the 25 per cent. The Cmamman. What interest do these operators pay? Mr. Lecce. You mean on loans from the board? The CuamrmaN. Yes. Mr. Lecce. That varies somewhat in the different sections. Our own rates vary, according to the provisions of section 8 (a) of the agricultural marketing act. They are based on what the return is on certain Government bonds, and on some days it is one rate and on some days it is another, because the rate fluctuates. The Treas- ary fixes that rate for us; we never make the rate on a loan. The Cmarrman. After you have made a loan to one of these concerns, and the rate is fixed on that dav. does it remain at that figure ? Mr. Lecar. Yes. But these cooperative organizations, with our knowledge and consent, are charging their members something over what they pay us. We think it is a wise thing for them to do, because it provides a sinking fund against anv kind of distress thev may have to face in the future. The CuammaN. How are they keeping up in the payment of their interest? Mr. Lrcce. Pretty well. They have paid us something: over $2,000,000 in interest up to the present time, and there is about $900,000 of accrued interest. Some of it that has accrued is not due. in the same that the loan has not matured.

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