Newspapers / The Chowan Herald (Edenton, … / Oct. 4, 1956, edition 1 / Page 9
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'\ ‘ V SECTION TWO Farmers’ Home Administration Is Now Providing Broader Needs For Credit How the credit needs of a larger number of farm families can be served by the Farmers Home Ad ministration under recently enact ed legislation was discussed at a meeting of agency officials held last week at New Bern. The new law provides broader authority to assist family-type farmers with loan? to improve and operate their farms. It also au thorizes, as a part of the rural de velopment program, loans for op erating and developing farms where the farmer has part-time employment off the farm. Includ ed in the broader authority are loans for refinancing existing debts and an increase in the maximum amount that can be advanced for operating loans. All of the present loan services of the Farmerst Home Administra tion which include loans for the operation, development and pur chase of family-type farms, farm housing, soil and water conserva tion, and loans to meet emergency credit needs will continue to be available. James O. Wise, County Supervis or and Mrs. Inez H. Sawyer, Coun ty Office Clerk of the local office which serves Chowan, Perquimans, 1 Camden, Currituck and Pasquotank l counties attended the meeting andv received the new instructions and are now ready to process loans within these broader authorities. The fonts to refinance existing debts will be available until June 30, 1959, to owners of farms no larger than family-size. These loans will help farmers who have adequate real estate security and who are otherwise in a sound po sition but who are unable to meet their present credit obligations and need credit on more favorable terms and conditions than is cur rently available from other lend ers. When debts are refinanced by the FHA the payments will be scheduled according to the ability of the borrower to repay. In the past, the agency has only refi nanced existing debts when the re financing was incidental to the making of a real estate loan for purchase or improvement of fami ly-type farms. There is a limit of $50,000,000 a year on the amount of this type of. credit that can be extended on an insured basis. Insured loans are made by the FHA from funds provided by pri vate lenders. The loans will bear 3% per cent interest plus a 1 per cent insurance charge. The amount of each operating loan made by the Farmers Home Administration is based on the needs of the applicant and his abili ty to pay. In addition there is a ceiling on the total indebtedness of each operating loan borrower. In the past the maximum amount that a borrower could be indebted has been set at SIO,OOO. Normally the credit needs of borrowers can be met within such a ceiling. How ever, under the new law when a borrower needs additional credit be cause of the type of farming opera tion which he proposes to carry out, loans may be made up to a to tal debt ceiling of $20,000. No more than 10 per cent of the an nual appropriation for operating p J. D. Ward & Sons PHONE GLIDEN 20S BUYERS OF Seed Cotton and Custom Ginning FOR UP-TO-THE-MINUTE TOP PRICES AND HAULING % CONTACT T. A. Berryman Phone Sunbury 3168 OR Troy Toppin Phone Center Hill 222 loans can be used to make loans which would cause a borrower’s in debtedness to exceed SIO,OOO. The operating loans are used for the purchase of equipment, live stock, fertilizer, seed and other ftrm and home operating expenses needed to carry out effcient farm ing operations on family-type farms. The interest rate remains at 5 per cent For the fiscal year 1967, $165,000,000 plus a contin gency fund of $15,000,000 to be used if necessary, has been appro priated for operating loans. The increase in the maximum limits of these loans will enable the agency to serve farmers and ranchers in areas where heavy in vestments in machinery, livestock and farm operating expenses are necessary. Operating loans are repayable over periods up to 7 years. Under the former law no new credit could be extended to borrowers who have been continuously indebted for 7 years. The new law increases from 7 to 10 years the period during which additional credit can be ex tended in hardship cases when the inability of the borrower to repay his indebtedness within 7 years is due to causes beyond his control. Loans will also be available for operating and developing less than family-type farms, if the appli cants are established bona fide farmers who have historically Re sided on farms and depended on farm income for their ’livelihood, an who are conducting substantial farming operations and spending a major portion of their time farm ing. Such operators must have de pendable sources of outside income. The primary objective of these loans is to help farmers who live in areas designated for the Rural Development Program, who are un able to obtain enough land re sources to develop full-time farms. The interest rates and terms on these loans for operating and de veloping less than family-type farms will vary depending upon the purpose for which the loan is obtained. Loans for operating ex penses will be repayable over per iods up to 7 years at 5 per cent in terest. Loans for real estate de velopment will bear charges of 4\i per cent and will be repayable over periods up to 40 years. These loans will only be made when the applicant’s income from his farm and other sources appears adequate to enable him to meet liv ing and operating expenses and to repay his debts. The new' act also extends until June 30, 1959, the authority for special emergency loans, and in creases from $15,000,000 to $65,000- 000 the total amount that can be advanced for these loans. Special emergency loans are made in areas designated by the’Secretary of Ag riculture to enable farmers to maintain their operations when they are unable for a temporary period to obtain needed credit from other sources. At present no areas have been designated in this State for special emergency loans. All of the new loans, like the loans already available from the Farmers Home Administration, will be made only to applicants who are unable to obtain adequate cred- THE CHOWAN HERALD it from other sources. With most types of loans supervision in the development and carrying out of balanced systems of farming will be provided. The local office of the Farmers Home Administration is located on the second floor of the Bus Station Building in Hertford and is open Monday through Friday from 8:00 A. M., until 5:00 P. M. Th e Coun ty Supervisor is in the ASC Office in Edenton each Wednesday from 9:00 A. M., until 12:00 noon. Weekly Devotional Column By JAMES MacHKNZIE What about Fasting? Probably no other teaching of Scripture has been so neglected by evangelical Christians as this. You will search the volumes of theology, the Bible dictionaries and encyclopedias and the sermons of great preachers in vain for a treatment of the teach ing of the Bible w'ith regard to Fasting. This neglect is probably due to the tendency of all of us to become legalistic and formal formal about a practice that has value only in so far as it is spirit-- ual. That some have substituted j the letter for the spirit and the shadow for the substance with re. gard to fasting is beyond question but is this a valid excuse to ignore so plain a teaching of Scripture? There are many who have allow'ed the outward, external aspect of Baptism, prayer, the Lord’s Sup per, Bible reading, and church at tendance to negate the inward, spiritual meaning of these means of grace, and thus making sin, but w'e w’ho seek the will of j God in our lives do not allow the | abuse by many to drive us awayi from them. Neither should we be: frightened away from Fasting by | the abuse of it by others. The w'ord translated “Fast” and “Fasting” in the New Testament is NESTEIA and means, simply, “not eating". The dictionary de fines Fasting -as “abstenance from food, either total or partial, or from certain prescribed kinds of food, as a religious duty.” Fasting may be total abstenance from food (Esther 4:16) or only partial (Daniel 10:3). It may be a declared, united observance, by members of a certain church or group of churches, or by an entire nation, or it may be the individual response of one person’s heart to the voice of the Spirit. Fasting always involves sacrifice: without this it is legalistic mockery. There is no value in giving up, say, pickled watermelon rinds, or stuff- iPIINMMHMPIRViIifIP /||BHHS||i|||pSHn Wggggmjgm i£J&£ i jlft Model 47| 4-30A 73 i Model 99 IS ! World's largest * chain saw builder Bows j _ Elizabeth City, N. C. McCulloch Saw Sales, Incorporated Williamston, N. C. B. C. Chain Saw Co. Winton, N, C. Vinson’s Garage Littleton, N. C. King Feed & Seed Company Rocky Mount, N. C. Anderson-MoHorn, Incorporated Distributed By— Carolina Chain Saw & Equipment Company SHELBY. N. C. UPPER UNDERCRUST- Meet “Prince'’ Robert de Bohan Courtenay, of the "Byzantine Umpire.” He’s one of the more colorful members of New York city's more-or-less-permanent hobo colony. Occasion for this “command’’ dress appearance was one of his frequent forays to offices of the Bowery News, official organ of the gentlemen of the road. ed olives, and calling that sort of foolishness Fasting. Neither is there any value in giving up some thing, say, meat, and substituting | something else for it you like just MEMBER ’vsssm" PLUMBING Kennan & Corey Plumbing Co.. Inc. Slate License 1061 For Plumbing and Heating 1111 N. Oakum Street PHONE 545 Edenton. N. C. ; ;:p| sHHHR •'t liil .«i $H j & SilPMiil gll h HHThI L c lil«l u >«♦ v< WfOfi ***“ 86 PROOF • STAGG 01ST. CO.. FRANKFORT, KY. as well. Fasting involves our relationship to God, and should therefore be done in secret. Fasting that is done to parade our piety before others, and to advertise our holi ness, is opposed to the Word of God, (Isaiah 58; Matthew 6:16-18). There is no value in fasting just for the sake of fasting. An empty ( stomach is not necessarily a fruit of the Spirit. Fasting must be done for a specific purpose. Fast ing may be an expression to God of sorrow for sin and humility; or an expression of willingness to sub mit our wills and desires to His. Fasting may be done in prepara tion for prayer for some certain thing, such as a revival, the salva tion of some unsaved friend, or for the leaders of our nation. You can’t pray on a full stomach; it is best for us to have our daily de votions BEFORE breakfast, and in tense, concerted prayer should al ways be preceded by fasting. Fast ing may be done as a restraint to the flesh. Regenerate man is a member of two kingdoms—the ani mal kingdom and the Kingdom of God; spiritual growth depends upon which he denies and to which he yields. Fasting will result first of all in dependence upon the Holy Spirit ’ in power in prayer and in witness ; ing. R. A. Torrey once wrote that . if there Were more prayer and fast ' -ng and less frolic and feasting ; among Christians we would experi- i ence a mighty out-pouring of the Spirit of God. Fasting will enable you to gain the victory over temp tation. Jesus, you will remember, prepared for His temptation experi ence by fasting and praying for forty days. Fasting will result in compassion for others. The pur pose of fasting should be, partially, to enable us to share what we have with those who are less fortunate. Fasting involves a spirit which should always be the motivating force of every Christian: the spirit of sacrifice. Salvation is free, but only the person who is willing to | place himself, his possessions, his I | talents, his reputation, completely I |at the disposal of God, is truly! ; saved. | Only a firm foundation in Truth | can give a fearless wing and a sui? I reward. —Mary Baker Eddy! i | ENTERTAINMENT PUNCH! j Cartoons, comics, columnists iiJ the Pictorial Review section of the Baltimore Sunday American pack! a man-size entertainment punch for every member of the family. Don’t miss such top-notch features as 1 “Here’s Howe”, “Mirror of Your! Mind”, E. V. 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(Jet Doan’s Pills today! Doan’s Pills - r- m • Ad No. 118-41 lines * How Much Do You Save? j _ You don’t have to think of time or dis tance when you bank by mail. Checks for deposit to your account may be sent at any time from the nearest mail box. Your de posit will be promptly credited to your ac count and a receipt mailed you. If you are not located near the bank, or whenever it is not convenient to call, use this time-saving service. THE BANK OF EDENTON EDENTON. NORTH CAROLINA SAFETY FOR SAVINGS SINCE 1894 MEMBER FEDERAL RESERVE SYSTEM MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION Thursday, October 4,1956. EDENTON, N. C. “&eikT l x}\2 flavors BBjJ|Bj| I? Mlm TRY A HERALD CLASSIFIED AD
The Chowan Herald (Edenton, N.C.)
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Oct. 4, 1956, edition 1
9
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