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Average interest rates paid by farmers on their debts before refinancing with the

Federal land banks and Land Bank Commissioner

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Average interest rates paid by farmers on their debts before refinancing with the

Federal land banks and Land Bank Commissioner-Continued

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Farm Credit Administration, Division of Finance and Research, Aug. 5, 1937.

Mr. Ludlow. Do you have any rigid rule of foreclosure, or do you try to judge each case on its merits?

Mr. MYERS. We judge each case on its merits, and in general we do not foreclose on deserving borrowers, who are doing their honest best and who are temporarily unable to meet their payments because of conditions over which they have no control.

NUMBER OF DELINQUENCIES AND FORECLOSURES

Mr. WIGGLESWORTH. Governor, would you include a statement in the record showing the number and amount of delinquencies in each case; also the number of foreclosures and the amount of property that you now hold?

Mr. MYERS. By years?
Mr. WIGGLESWORTH. Yes; if it is not too much trouble.
Mr. Myers. For the last year or 2 years?
Mr. WIGGLESWORTH. Yes.
Mr. MYERS. Do you want that by States, or for the United States?

Mr. WIGGLESWORTH. By States, if it does not involve a great amount of work.

Mr. MYERS. All right. We will submit that for the record.

Federal land banks

CONDITION OF FEDERAL LAND-BANK LOANS OUTSTANDING, JUNE 30, 1936

Total loans outstanding

Loans with all matured install

ments paid by borrowers

Loans with all matured install. Delinquent loans including loans

ments extended, but with no with delinquent installments delinquency in such extensions and/or delinquent extensions

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1 Based on the average size of loan outstanding in each State. Source: Farm Credit Administration, Division of Finance and Research, Aug. 5, 1937.

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Federal land banks—Continued

CONDITION OF FEDERAL LAND-BANK LOANS OUTSTANDING, JUNE 30, 1936-Continued

District 12:

Montana.
Idaho.
Washington.
Oregon.

Total..

5341, 508,1

CONDITION OF FEDERAL LAND-BANK LOANS OUTSTANDING, JUNE 30, 1937

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