Federal Register - August 9, 1939

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Source: Federal Register

FEDERAL REGISTER, Wednesday, August 9, 1939
208.5 Variations for grades. Loan values for eligible grades and subclasses shall be at the following schedule of premiums and discounts:
a Where the loan value is based on No. 2 wheat, the loan value on No. 1
wheat shall be 1 cent more than the loan value on No. 2; the loan value on No. 3
wheat shall be 2 cents less than the loan value on No. 2; the loan value on No. 4
wheat shall be 5 cents less than the loan value on No. 2; and the loan value on No. 5 wheat shall be 8 cents less than the loan value on No. 2.
b Where the loan value is based on No. 1 wheat, the loan value on No. 2
wheat shall be 1 cent less than the loan value on No. 1; the loan value on No. 3
wheat shall be 3 cents less than the loan value on No. 1; the loan value on No. 4
wheat shall be 6 cents less than the loan value on No. 1; and the loan value on No. 5 wheat shall be 9 cents less than the loan value on No. 1.
c The loan value on No. 1 heavy dark northern spring shall be 1 cent more than the loan value on No. 1 dark northern spring and the loan value on No. 1 heavy northern spring shall be 1
cent more than the loan value on No. 1
northern spring, and the loan value on No. 1 red spring shall be 2 cents less than the loan value on No. 1 northern spring.

d The loan value on yellow hard winter shall be 2 cents less than the loan value on hard winter.
e The loan value on hard white shall be 1 cent more than the loan value on soft white, except as otherwise provided in this C.C.C. Wheat Form 1 or supple ments thereto.
f The loan value on durum wheat shall be 7 cents less than the loan value on amber durum wheat.
g The loan value on mixed wheat shall be 2 cents per bushel below the established loan rate on the comparable numerical grade of that class of wheat contained in the mixture which would take the lowest loan rate applicable to any subclass thereof if it were not mixed.
h The discount for smut determined on a percentage basis shall be as follows:
Cents per bushel V2 % to 1 %, inclusive______________
1.05
1%% to 3%, inclusive_____________
1.35
8 %% to 7%, inclusive.____________
1.95
74% to 15%, inclusive_______ _____
2.55

The discounts for smut and garlic de termined on a degree basis shall be as follows:

smut condition of wheat shall be deter mined on a percentage basis in accord ance with the Official Grain Standards of the United States, in California, Idaho, Montana, Nevada, Oregon, Utah, and Washington. In the foregoing area the quantity of smut shall be stated in per centage in accordance with the method described in paragraph a under Smutty wheat of the Official Grain Standards of the United States and shall be stated in terms of half percent, full percent, or whole and half percent, as the case may be, and the quantity of smut so determined in pounds shall be deducted from the weight of clean wheat after deduction of other dockage. Elsewhere the smut condition of wheat shall be de termined on a degree basis in accordance with paragraph b under Smutty wheat of the Official Grain Standards of the United States; Provided, That in the case of wheat which has an unmis takable odor of smut, or which contains balls, portions of balls, or spores of smut in excess of a quantity equal to 14 balls, but not in excess of a quantity equal to 30
balls, of average size in 250 grams of wheat, there shall be added to and made a part of the grade designation, the words Light smutty; Provided further, That in the case of wheat which contains balls, portions of balls, or spores of smut, in excess of a quantity equal to 30 balls of average size in 250 grams of wheat, there shall be added to and made a part of the grade designation, the word Smutty.
The garlic condition of wheat shall be determined in accordance with the Offi cial Grain Standards of the United States, and such condition shall be made a part of the grade designation by add ing the words Light garlicky or the word Garlicky, as determined under such standards.
208.7 Determination of quantity of wheat. Loans shall be made at values expressed in cents per bushel, a bushel being determined to be 60 pounds of clean wheat free of dockage, when de termined by weight; or 1.25 cubic feet of wheat testing 60 pounds per bushel when determined by measurement. In determining the quantity of wheat in farm storage by measurement, fractional pounds of the bushel test weight for wheat testing less than 60 pounds per bushel will be disregarded, and the quan tity determined as above will be the fol lowing percentages of the quantity de termined for 60-pound wheat:

Percent For wheat testing 60 pounds or over__ 100
Cents per bushel For wheat testing 59 pounds or over, but 3
Light smutty_____________
less than 60 pounds_____________ __98
Smutty______________________ "
g For wheat testing 58 pounds or oyer, but Light garlicky________________
o less than 59 pounds_________ i______ 97
Garlicky____________:__
g For wheat testing 57 pounds or over, but less than 58 pounds_______________ 95
208.6 Determination of dockage, For wheat testing 56 pounds or over, but smut, and garlic. The percentage of less than 57 pounds_________ ___ ____ 93
dockage shall be determined in accord For wheat testing 55 pounds or over, but than 56 pounds_______________ 92
ance with the Official Grain Standards Forless wheat testing 54 pounds or over, but of the United States and the weight of less than 55 pounds_______________ 90
said dockage shall be deducted from the For wheat testing 53 pounds or over, but less than 54 pounds________________ 88
gross weight of the wheat in determ in in g wheat testing 52 pounds or over, but the net quantity available for loan. The For less than 53 pounds____________ ____ 86

3541

Percent For wheat testing 51 pounds or over, but less than 52j pounds.______ .________ 83
For wheat testing 50 pounds or over, but less than 51 pounds_.________ ___ . . . 80

208.8 Maturity and interest rate.
Loans on 1939 C.C.C. Wheat Form A will mature April 30, 1940. Loans on 1939
C.C.C. Wheat Form B will mature 7
months from the respective dates there of but not later than April 30, 1940. All loans will bear interest at the rate of 4
percent per annum.
208.9 P u b l i c warehouses. Com modity Credit Corporation will accept only negotiable, insured warehouse re ceipts or receipts in form required by statute covering wheat pledged as col lateral to notes on 1939 C.C.C. Wheat Form B issued by any public grain ware house approved by the Loan Agency of the Reconstruction Finance Corporation serving the district in which such ware house is located. Warehousemen are advised to communicate with such Loan Agency of the Reconstruction Finance Corporation, concerning approval. A
list of the approved warehouses and their locations will be available at any Loan Agency of the Reconstruction Finance Corporation listed in section 208.19
hereof or any State or county agricul tural conservation office. Each approved warehouse must enter into an agree ment with the Commodity Credit Cor poration which may be obtained from the Loan Agency. This agreement will limit the warehousemans lien and im pose additional obligations to Commodity Credit Corporation. Approved ware housemen shall not issue and have out standing at any time warehouse receipts in excess of the normal working capacity or licensed capacity of the warehouses.
Under the terms of the warehouse agree ment, warehousemen are required to de liver either the identical wheat or coun try-run quality wheat of the quantity, class, grade, and protein content within one-half of 1 per cent as stated on the warehouse receipts or the accompanying documents. All wheat pledged as secu rity for a note must be in the same ware house, and each producer must arrange for the storage of wheat in an approved warehouse either at a country or termi nal point. Producers should arrange for cleaning wheat placed in storage con taining in excess of 2 percent dockage in order to avoid excessive charges for transportation, conditioning, and stor age. Wheat containing smut or garlic should not be commingled by the ware houseman with wheat free from such smut or garlic.
208.10 Warehouse receipts. Ware house receipts must be dated on or prior to the date of the related note and prop erly assigned by an endorsement in blank so as to vest title in the holder, or issued to bearer, issued by approved warehouse men who are not owners of the wheat.
Unless the warehouse receipts are stamped or printed Insured there must be attached, or included in, the certificate of the warehouseman the statement that

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Federal Register - August 9, 1939

TitoloFederal Register

PaeseStati Uniti

Data09/08/1939

Conteggio pagine26

Numero di edizioni7794

Prima edizione14/03/1936

Ultima edizione12/06/2026

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