farmers Home Administration
lending in 1962 reached the high
est level for any 12-month period
in the Agency’s history, Secretary
of Agriculture Orville L. Freeman
has announced.
An estimated $754 million in
loans were made by Farmers
Home Administration during the
year—50 per cent more than in
ll'Ol and 120 per cent more than
in I960.
About 214,000 farm and other
rural families used credit from
Farmers Home Administration
during 1962. This was a 17 per
cent increase over the number of
borrowers in 1961, and 24 per
cent above 1960.
Three FHA programs showed
substantial increases in dollars
loaned during the year. Loans to
farmers for purchase, develop
ment or enlargement of family
sized farms increased 135 per
cent. The amount of credit ex
tended for construction and im
provement of rural homes and
other buildings more than doub
led. Loans to individuals and
small towns and other groups to
build on-farm and rural commun
ity water systems and finance
other water development and con
servation measures rose about 90
per cent.
The increased volume of loans
was a result of 1961 legislation
which increased the amount of
loan funds and broadened the
scope of the agency’s activities.
‘‘A tremendous need in most of
the nation’s rural areas today is
for money to finance basic capi
tal improvements," Secretary
Freeman said. “FHA programs
aie helping fill this long-stand
ing credit gap. They are financ
ing farm modernization, rural
community improvement and new
home construction where private
funds simply are not available.
' “These and similar improve
ments are a first step toward the
it omplishment of the long-term
goal of a permanently prosperous
ami stable rural society,” Free
' pian said.
“As Rural Areas Development
takes hold in more and more
counties, PHA will be called on
increasingly to supply this capi
tal, when private sources are not
available or cannot meet the de
mand. Capital is a key factor in
a successful local development
program," the Secretary added.
Of the $754 million loaned by
FHA in 1962 calendar year, about
$273 million went to 74,000 farm
ers to buy equipment, livestock,
fertilizer, pesticides, feed, tiac
tor fuel, and other supplies for
farm and home.
Farm ownership loans amount
ing to approximately $223 million
were made to 14,380 farm families
J to buy, develop, or enlarge their
farms, and to refinance debts.
iAmong these borrowers were ten
ants and young farmers needing
capital to start farming on an ef
ficient basis. Private lendeis ad
vanced $207 million of these funds
under the Farmers Home Admin
istration’s insured loan program.
Rural housing loans totaling
approximately $170 million went
to 19,000 borroweis to build or
improve houses and service build
ings on farms and in rural com
munities.
Water development and soil
conservation loans totaling about
$15 million went to 840 individu
als and 107 associations serving
approximately (5,450 people. Wa
tershed loans amounted to $3
million.
Emergency loans amounting to
an estimated $01 million were
made to 21,400 farmers to assist
in maintaining normal farming
operations following disasters,
such as drought, floods, and
stonns.
Repayment by FHA borrowers
during 1962 totaled $382 million
in principal and interest. This
compares with repayments of
$327 million last year. About 24.
000 borrowers repaid their loans
in full during fiscal 1962
The Food and Agriculture Act
Si of 1962, signed by President
Kennedy in September, added a
number of new loan authoriza
tions to the FHA program of su
pervised credit.
Farm operating and ownership
loans were broadened to include
the financing of recreational en
terprises designed to help supple
ment farmers’ incomes. Small
towns and associations of farm
ers and other rural residents now
may borrow funds to finance
changes in land use, including de
velopment of recreational facil
ities.
The 1962 Act also authorized
Farmers Home Administration
loans and technical assistance to
local public agencies for rural re
newal. And it broadened the defi
nition of farmers eligible for FHA
loans to include those engaged in
raising fish under controlled con
ditions.
The Senior Citizens Act of
1962 established an FHA pro
gram of loans to individuals, cor
porations and groups to build ren
tal housing for the elderly in rur
al areas, and to individuals over
62 to buy, build or renovate hous
ing for themselves.
These new authorizations were
in addition to a general modern
ization of Farmers Home Admin
istration existing lending pro
grams brought about by the Ag
J iculture and housing acts of
1961.
All 1* HA loans are accompanied
by technical advice on farm and
financial management. Loans are
made only to applicants who are
--
Area Nurses
Hear of Newer
Medical Trends
The Kenai Area Nurses Group
was informed concerning “Newer
Trends in Nursing” at its meet
ing on March 6 when Maj. Harriet
Daley, post nurse at Wildwood
Station, addressed the group.
Major Daley formerly was night
superintendent at the Walter
Reed Army Hospital near Wash
ington, D. C. prior to her assign
ment to Alaska. New methods in
nursing and new equipment for
hospital use, especially that of
the disposable type, were discuss
ed when she met with the local
nurses.
Mrs. .John Vore, also of Wild
wood Station, who prior to her
marriage was employed as an x
ray technician in Indiana and
Portland, Ore., also spoke. Her
topic concerned x-ray therapy
and diagnostic procedures.
Hostesses at the meeting were
Mrs. George Denison and Miss
Jeannine Lyerly.
The next meeting is scheduled
for 8 p.m., Wednesday, April 3,
in the Officers Club at Wildwood
Station. “Tranquilizers and Re
lated Medications” will be the
topic discussed. All nurses in the
area are invited to meet with the
group at any time.
unable to obtain needed credit
from conventional lenders. All
farming counties are served by
1,497 local FHA offices.
Wildwood Observes
Girl Scout Week
Girl Scout Week was observed
at Wildwood Station from March
10 through March 16 and includ
ed many activities.
An interview type television
show on Wildwood’s Channel 8
featured the Intermediate Girl
Scout Troop 207 in a campfire
setting against a backdrop of
trees. Sgt. Vince DeRose conduct
ed the interview in which the
meaning of Scouting was explain
ed. Songs in the show were taught
to the troop by Mrs. Thomas
Blanchard.
Brownie and Intermediate
Scouts participated in chapel ser
vices on March 10. A Girl Scout
cookie sale on March 15 grossed
$86 at Wildwood.
Scouting activities for girls at
the Army post are conducted un
der leadership of Mrs. Fredrick
Hoffmann for the Intermediate
group and Mrs. John Vore,
Brownie leader. The neighbor
hod organizer is Mrs. E. Fosberg.
IMPORTANT!
Is Your Telephone
Number Listed
Correctly?
The quarterly telephone direct
ory printed by the CHEECHAKO
News is due in April. If your
number is listed incorrectly or if
you have a new phone please
call 2^2-4420, THE CHEECHAKO
NEWS, and give the correct list
ing.
Daily Interest on your Savings!
Savings accounts at NB of A earn 3'2% INTEREST beginning
the day of deposit. Interest IS COMPUTED ON DAILY BAL
ANCES and PAID FOUR TIMES A YEAR. Thrift is a profit
able habit at.
NATIONAL BANK
OF ALASKA
Member Federal Deposit Insurance Corp.
and Federal Reserve System
— SOLDOTNA BRANCH —
Soldotna
Phone 262-4222
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