and practices; for cooperation in promoting such knowledge with State educational and marketing agencies, cooperative associations and others.

It also provides coordination and analysis of pertinent information from other Government departments and agencies and also from other public and private sources; advice to the board on economic matters, covering commodity situations and developments, stabilization policies, production control, land policies, and other questions affecting agriculture.

The provision of information to prospective loan applicants regarding stipulations of the agricultural marketing act; assistance to associations in qualifying for loans; and examination of applications and development with applicants of the need for and purpose of loans, security, character of management, operating policies, financial condition, and method of repayment, are likewise handled by the division of cooperative marketing.

Finally, periodical and special analyses of business methods, practices, policies, accounting, and financial condition of associations to which the board has made loans, and recommendations for improvement, are made in this division.

Legal division. Under the legal division comes the legal interpretation of the agricultural marketing act; preparation, development, and examination of forms; the preparation of collateral, trust, and custodian documents and agreements for loans and release thereof; collaboration in development of corporate set-up of cooperatives; study of legal phases of cooperation.

Finance division. The finance division gives advice and counsel in respect to all loans and in administration and safeguarding of funds; advice and counsel to the board and cooperatives on questions of finance; recommendations to the board as to provisions and terms of loans, security, insurance and appraisals; advice in preparation and consideration of applications.

Treasurer's office. The treasurer's office is responsible for disbursement and collection of the revolving fund, custody of documents evidencing loans and security, insurance, appraisals, maintenance of records in connection with loans and the security for and collection thereof.

Division of information. The division of information is responsible for making contacts with interested institutions and individuals; disseminates information regarding board policies and activities, also information to promote cooperative marketing, through the press, the radio, and other agencies; assists in the preparation of and edits board publications; directs mimeograph and drafting services.

Administrative division.-The administrative division has charge of disbursements and accounts; personnel, travel, and supplies; library; vise and stenographic pool; telephone office; files; mail; messengers and telegraph.

APPENDIX

TABLES RELATING TO LOAN OPERATIONS

TABLE 1.-Disposition of applications for loans, classified by commodities, from July 1, 1931, to June 30, 1932

In addition, the board received and/or considered applications for loans submitted by nationals and/or regionals from member associations which, classified by commodities, were disposed of as shown in the table below:

TABLE 2.—Number of applications for loans approved in each fiscal year, classified by commodities

1 Number of commitments made under these applications were: 1, 1930; 12, 1931; 26, 1932. 2 Number of commitments made under these applications were: 8, 1930; 28, 1931; 114, 1932.

In addition, the board approved the following applications for loans, classified by commodities, submitted by nationals and/or regionals from member associations:

TABLE 3.-Disposition of applications for loans (expressed in dollars), classified by commodities, from July 1, 1931, to June 30, 1932

Total

Cotton stabilization.
Grain stabilization.

Grand total 1.

1,298, 100.00 306,000.00 1,772, 160.72 250,000.00 4, 668, 111.30 12, 595,000.00

121, 143, 421. 51 103, 837, 307. 45 7,715, 628. 622, 889, 877. 53 707, 000. 005, 993, 607.91 26, 064, 980. 92 26, 064, 980. 92

234, 064, 742. 11 234, 064, 742. 11

381, 273, 144. 54 363, 967, 030. 48 7, 715, 628. 622, 889, 877. 53 707, 000. 005, 993, 607.91

1 Of the total amount applied for, $21,717,917.32 was pending last fiscal year.

In addition, the board received and/or considered applications for loans in the following amounts submitted by nationals and/or regionals from member associations which, classified by commodities, were disposed of as shown in the table below: