Federal Register - December 17, 1959

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Fuente: Federal Register

ESISTER
VOLUME 24

1934

NUMBER 245

Washington, Thursday, December 17, 1959

Title 6 AGRICULTURAL
CREDIT
Chapter IV Commodity Stabilization Service and Commodity Credit Cor poration, Department of Agriculture SUBCHAPTER B LOANS, PURCHASES, AND
QTHER OPERATIONS

PART 427 COTTON
Notice of Applicability of Provisions Contained in I960 Agricultural Ap propriation Act Public Law 8680
to Upland Cotton and Extra Long Staple Cotton The provision in the Department of Agriculture and Farm Credit Adminis tration Appropriation Act for the fiscal year 1960 P.L. 86-80 placing a lim ita tion on the amount of price support which may be extended by Commodity Credit Corporation to any person reads as follows:
Provided fu rth er, 1 That no part of this authorization shall be used to formulate or carry out a price support program for 1960
under which a total amount of price support in excess of $50,000 would be extended through loans, purchases, or purchase agree ments made or made available by Com modity Credit Corporation to any person on the 1960 production of any agricultural com modity declared by the Secretary to be in surplus supply, unless a such person shall reduce his production of such commodity from that which such person produced the preceding year, in such percentage, not to exceed 20 per centum, as the Secretary may determine to be essential to bring produc tion in line within a reasonable period of time with that necessary to provide an ade quate supply to meet domestic and foreign demands, plus adequate reserves, or b such person shall agree to repay all amounts advanced in excess of $50,000 for any agri cultural commodity within twelve months from the date of the advance of such funds or at such later date as theSecretary may determine, 2 that the term person shall mean an individual, partnership, firm, joint-stock company, corporation, associa tion, trust, estate, or other legal entity, or a State, political subdivision of a State, or any agency thereof, 3 that in the case of any loan to, or purchase from, a cooperative marketing organization, or with regard to price support on an agricultural commodity extended by purchases of a product of such commodity from, or by loans on such prod uct to, persons other than the producers of
such commodity, such limitation shall not apply to the amount of price support re ceived by the cooperative marketing organ ization, or other persons, but the amount of price support made available to-any person through such cooperative marketing organ ization or other persons shall be included in determining the amount of price support received by such person for purposes of such limitation, and 4 th at the Secretary of Agriculture shall issue regulations prescrib ing such rules as he determines necessary to carry out this provision.

CONTENTS
Agricultural Marketing Service
PaS

Notices:
Winfield Livestock Auction, Inc., et al. ; proposed posting of stockyards_________________ 10233
Proposed rule making:
Milk in Detroit, Mich., and Cen tral Michigan marketing area;
decision on proposed amend ments to tentative marketing agreement and order________ 10207

To implement the above provisions of the Act, notice is hereby given of the Agricultural Research Service following:
1. Upland cotton and extra long staple Notices:
Anti-hog-cholera serum and cotton have been declared to be in sur hog-cholera virus, handling;
plus supply for the purpose of P.L. 86-90
members and alternate mem and the provisions of the Act are ap bers of control agency_______ 10233
plicable to such commodities. The term commodity hereinafter used in Agriculture Department this notice shall be deemed to refer sep S ee also Agricultural Marketing arately to upland cotton and to extra Service; Agricultural Research long staple cotton.
Service; Commodity Credit Cor 2. Each producer shall be required to poration; Commodity Stabiliza make a 20 percent reduction in the pro tion Service.
duction of the commodity in 1960 below Notices:
his 1959 production in order to be eligible South Carolina ; designation of for nonrecourse price support on the area for production emercommodity in excess of $50,000. The re gency loans________________ 10234
duction in production shall be made on Civil and Defense Mobilization an acreage basi , and the acreage repre Office sented by such reduction shall not be put into production of the commodity Notices:
Oklahoma; major disaster------- 10240
by any other person. In ttie case of up land cotton, the requirement of a 20 per Coast Guard cent reduction from the 1959 acreage Notices:
Equipment, installations, or ma will apply regardless of whether the pro terials; changes in name cff ducer elected Choice A or Choice B
products and in names and in 1959 or whether he elects Choice A
addresses of manufacturers;
or Choice B in 1960.
approval and termination of 3. Price support advances in excess of approval, and amendment 10224
$50,000 on the commodity for which the producer has not made the required re Commerce Department duction of production shall be made only S ee Maritime Administration.
through recourse price support loan ad vances. Producers affected by this pro Commodify Credit Corporation vision shall be extended rights of repay Rules and regulations:
Loans, purchases and other op ment for twelve months after the final erations :
price support availability date for the Cotton, upland and extra long commodity.
s t a p le ___ _______
10189
4. In case a person receives price sup Mohair; payment program 10191
port advances in excess of $50,000 and Wool, shorn and pulled; in such person is ineligible for unlimited centive level, 1960------------ 10191
nonrecourse price support, the amount due on a recourse basis shall be the Commodity Stabilization Service amount advanced in excess of $50,000 Notices:
plus interest and charges on the amount Sugar in continental U.S.; im in excess of $50,000. Charges shall inportation for refining and s to ra g e ____________________ 10233
Continued on p. 10191
10189

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Federal Register - December 17, 1959

TítuloFederal Register

PaísEstados Unidos de América

Fecha17/12/1959

Nro. de páginas64

Nro. de ediciones7267

Primera edición14/03/1936

Ultima edición28/03/2024

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