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Graves Describes Guarantee on Farm Loan Bonds
P S Graves secretary treasurer of Cameron National Farm Loan Association reports from Governor Wm J Meyers that future Federal land bank and land bank commissioner's loans will be issued as Federal Farm Mortgage Corporation bonds. These bonds are government guaranteed for principal and interest and will be backed by federal capital of about 20 million and consolidated land bank bonds. Bonds will be marketable like U S bonds and exempt from most taxes. Farmers creditors refinancing may need to sell, so bankers expect many purchases by country banks. Interest on new loans remains 4 1/2 percent through the emergency period and 5 percent when issued directly by the bank.
MENTIONED IN THIS ARTICLE
P. S. Graves
Cameron National Farm Loan Association
Wm. J. Meyers
Farm Credit Administration
Washington, D.D. C
Federal Land Bank
Land Bank Commissioner
Federal Farm Mortgage Corporation
United States
Federal Land Banks
Myers
Land Bank
Graves
Federal Reserve Sys
Treasury
a__sonational farm loan association