Federal Register - August 9, 1939

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Source: Federal Register

FEDERAL REGISTER, Wednesday, August 9, 1939
2 0 0 7 Source of loans. It is con ferred to herein and the districts served templated that loans will ordinarily be by them under these instructions are obtained from banks and other local shown below:
lending agencies which, in turn, may sell Loan Agency and District Served the paper evidencing such loans to Com Chicago: Area in 7th Federal Reserve modity Credit Corporation. Producers District attached to Chicago, except may also obtain loans directly from Com counties in Iowa attached Jo Omaha.
modity Credit Corporation. Such notes Cleveland: Area in 4th Federal Re shall be made payable to Commodity serve District, except eastern Kentucky.
Credit Corporation and shall be delivered Dallas: Area included in 11th Federal to a loan agency of the Reconstruction Finance Corporation serving the district Reserve District.
Denver: Area in 10th Federal Reserve in which the wheat is stored. Paper for direct loans tendered by mail, in person, District attached to Denver.
Detroit: Area in 7th Federal Reserve or otherwise should be accompanied by a producers letter of transmittal on 1939 District attached to Detroit.
Helena: Area in 9th Federal Reserve C.C.C. Wheat Form C, in duplicate, and must be delivered or postmarked prior to District attached to Helena.
Kansas City: Area in 10th Federal January 1, 1940. The triplicate copy of this letter shall be retained by the pro Reserve District attached to Kansas City.
Louisville: Area in 8th Federal Reserve ducer as a memorandum. Upon delivery of all necessary documents properly exe District attached to Louisville and east cuted and upon approval of the loan by ern Kentucky.
Minneapolis: Area in 9th Federal Re the manager of the loan agency, payment shall be made pursuant to the letter of serve District attached to Minneapolis.
Nashville: Area in 6th Federal Reserve transmittal.
208.18 Purchase of loans. Commod District attached to Nashville.
New York: Area included in 2d Fed ity Credit Corporation will purchase, without recourse, eligible paper, as de eral Reserve District.
Oklahoma City: Area in 10th Federal fined above, only from lending agencies which have executed and delivered to Reserve District attached to Oklahoma the loan agency to which notes are sub City.
Omaha: Area in 10th Federal Reserve mitted Contract to Purchase, 1939 C.C.C.
Wheat Form E, obtainable only from loan District attached to Omaha and follow agencies of the Reconstruction Finance ing counties in Iowa: Adams, Adair, Ap Corporation. Each note and chattel panoose, Audubon, Boone, Buena Vista, mortgage tendered by a lending agency Calhoun, Carroll, Cass, Cerro Gordo, to Commodity Credit Corporation for Cherokee, Clarke, Clay, Crawford, Dal purchase in which the lending agency is las, Decatur, Dickinson, Emmet, Frank not named as payee, must be accom lin, Fremont, Greene, Guthrie, Hamil panied by an assignment or assignments ton, Hancock, Hardin, Harrison, Hum to such lending agency oh 1939 C.C.C. boldt, Ida, Jasper, Kossuth, Incas, Lyon, Wheat Form G. The original or a dupli Madison, Marion, Marshall, Mills, Mo cate copy of such assignments must have nona, Monroe, Montgomery, OBrien, Os been filed for record in the offices of ceola, Page, Palo Alto, Plymouth, Poca the recording oflficials of the county or hontas, Polk, Pottowattamie, Ringgold counties in which the mortgage was filed Sac, Shelby, Sioux, Story, Taylor, Union, Warren, Wayne, Webster, Winnebago, or recorded.
. Paper held by lending agencies must Woodbury, Worth, and Wright.
Portland: Area in 12th Federal Re be tendered to the loan agency of Re construction Finance Corporation hold serve District attached to Portland.
Richmond: Area included in 3d and ing the contract to purchase and serving the district in which the wheat is stored 5th Federal Reserve Districts.
St. Louis: Area in 8th Federal Reserve 30 days prior to maturity. The purchase price to be paid by Commodity Credit District attached to Little Rock, Mem Corporation for notes accepted will be phis, and St. Louis.
San Francisco: Area in 12th Federal the face amount of such notes plus ac crued interest from the respective dates Reserve District attached to Los Angeles, to the date of payment of the purchase Salt Lake City and San Francisco.
Spokane: Area in 12th Federal Reserve price at the rate of 2 l/2 percent per an num. Under the terms of the contract to District attached to Seattle arid Spokane.
purchases, lending agencies are required 208.20 Release of collateral held by to report monthly on 1939 C.C.C. Wheat Commodity Credit Corporation. A pro Form F all payments or collections on ducer may obtain the return of notes producers notes held by them, and to secured by wheat upon his request in remit promptly to Commodity Credit writing and payment of the principal Corporation, Washington, D. C., an amount due thereon with accrued inter amount equivalent to 1 y2 percent interest est and proper charges. The producers per annum on the principal amount col note and mortgage or loan agreement, lected from the date of the note to the with the warehouse receipts if any date of payment.
securing same, will be transmitted to an 208.19 Reconstruction Finance Cor approved bank with instructions to de poration Loan Agencies. The locations liver such documents to the producer, of the loan agencies of the Reconstruc or his agent, upon the payment of the tion Finance Corporation previously re full amount due thereon with accrued
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interest and proper charges. Where such paper is sent to an approved bank for collection, instructions shall be given to return such paper to the sender if payment and release are not effected within 15 days. All charges and expenses of the collecting bank shall be paid by the producer. If the note is secured by farm-stored wheat, county agricultural conservation committees will be re quested to release the mortgage of record after payment in full either by the filing of an instrument of release or by a margin release on the county records.
If the producers note is made payable directly to Commodity Credit Corpora tion and he desires to obtain the release of collateral upon payment as aforesaid, he should notify the Federal Reserve Bank or branch thereof serving the dis trict in which the wheat is stored as above provided. If his note was made payable to a payee other than Commod ity Credit Corporation the producer should notify the payee named therein.
Partial releases of collateral will be made as follows:
a In the case of farm-stored wheat, the producer must identify to the lend ing agency or loan agency of Recon struction Finance Corporation the seal number of the bin to be released. Such release must cover all the wheat in any one bin. Upon receipt of such a request, a partial release of the chattel mortgage will be forwarded to an approved bank to be released to the producer against payment of the amount loaned on the particular bin of wheat plus interest and charges.
b In the case of elevator-stored wheat, producers desiring to obtain par tial releases should notify the lending agency or Loan Agency of Reconstruc tion Finance Corporation serving the district in which the wheat is stored, de scribing the wheat to be released by warehouse receipt numbers. Each par tial release must cover all the wheat under one warehouse receipt. The ware house receipts representing wheat held by Commodity Credit Corporation will be forwarded to an approved bank to be released to the producer or his agent against payment of the amount loaned on the wheat to be released, plus inter est on such amount and any charges applicable thereto.
c Banks and other lending agencies holding notes on 1939 C.C.C. Wheat Forms A and B may also permit partial releases as provided above and Com modity Credit Corporation will purchase notes on which partial releases have been made, provided the note is credited by the lending agencies with the full amount of the loan on the wheat re leased, plus interest at the rate of 4 per cent thereon. An amount equivalent to iy 2 percent interest per annum on the amount of such principal collected at the time of such partial releases from the date of the note or notes to the date of payment should be remitted to Com modity Credit Corporation in accordance

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Federal Register - August 9, 1939

TitoloFederal Register

PaeseStati Uniti

Data09/08/1939

Conteggio pagine26

Numero di edizioni7798

Prima edizione14/03/1936

Ultima edizione18/06/2026

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