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Cotton Finance Plan Aims to Aid Farmers and Banks
The finance committee outlined creation of a million dollar Cotton Finance Corporation to provide nine month to three year loans on cotton stored in supervised warehouses. Banks would act as loan agents at no extra cost while the corporation handles notes, with rules to be amended by federal intermediate banks for direct note discounting. Loan terms set at up to 76 percent of value, 6 percent interest, price-based sale restrictions, and warehouse charges to cover costs. نحو
MENTIONED IN THIS ARTICLE
the Finance Committee
Mr. Simpson
Million Dollar Cotton Finance Corporation
Cotton Finance Corporation
Greensboro
Board of Directors
Finance Corporation
M. L. Corey
Corey
Old Tobacco Co-operative Association
Simpson
Pierce Rucker