Loan processing delays up to eight montJis . . .
J1
jaereuicer cai
or naves cisacion
By Gene G entrap
Rep. Doug Bereuter of Utica has asked the Gen
eral Accounting Office to conduct En investigation
into loan processing dc&ya within ths Farmers
Home Administration.
John Amick, Bereutcr's legislative assistant, said
some farmers who have applied for loans are frus
trated by delays and have waited up to eiht months
before learning if their application has been accepted
or rejected.
This is the time of the year when the farmers
need their operating capital," Amick said. They need
to line up their credit eariy to operate throughout
the year. What good-does it do if they don't hear
from the FmllA until harvest time?" he said.
Amick said, however, that the current agricultu
ral situation gives the Frail A a heavy load of loan
applications.
The Economic Research Service said in ints annual
report that the value of US. farmland has dropped
for the third year In a row, the first time this has
happened since the Great Depression.
The report cited low net farm earnings, high
interest rates and tight credit as reasons for the
decline.
( "litis is the time of year
when farmers need their
operating capital . . .. WJiat
good does it do if they don 't
hear from the FmHA until
harvest time?"
"As land values weaken, so do farmer's assets,"
Amick said. "With less collateral, they are unable to
borrow as much to stay in the business."
Amick said Bereuter proposed some solutions to
the loan processing delays at a recent meeting with
Secretary of Agriculture John Block.
He said that Bereuter lias asked that a larger
share of the burden.of the paperwork involved in
loan applications be shifted from the FmHA to the
lending bank.
Amick said this is currently the practice with the
Small Business. Administration loan guarantees,
and both the S.B.A. and the banks seem happy with
the agreement.
Amick said he and Bereuter agreed that the most
serious problem that must be discussed by Congress
is the cost and availability of farm credit.
The situation is as bad as it has been in fifty
years," he said. "Farmers must have access to oper
ating capital at an affordable price."
Shorts
As part of Neighborhood Week, June 9 to 16,
neighborhood groups will be presenting oral history
tapes and slide shows June 9 at the state Historical
Society 15th and P streets, beginning at 12:30 p.m.
With a grant from the Nebraska Committee for
the Humanities, seven older neighborhoods have
produced documentations of life as it was from the
turn of the century.
The presentations are the result of countless
interviews with long-time residents and a selection
of the best of old photographs from many private
collections. ,
The 20-minute slide shows will run through Sat
urday afternoon. Interested viewers are invited to
corne and go as they please. There is no charge.
The schedule:
South Salt Creek, 12:30 p.m. to 1:30 p.m.
! University Place, 1:35 p.m. to 2 p.m.
Yankee Hill, 2:05 p.m. to 2:40 p.m.
Near South, 2:45 p.m. to 3:10 p.m.
North Bottoms 3:15 p.m. to 3:40 p.m.
College View, 3:45 p.m. to 4:10 p.m.
East Campus, 4:15 p.m. to 4:35 p.m.
"FT 2"
TT A O a A
By Jeff Goodwin
Gov. Bob Kerrey left open the possibility that a
special session of the Legislature may convene
before the fall elections if the state is found liable for
losses suffered by the depositors of Commonwealth
Savings Co.
But Kerrey, speaking at a Wednesday news con
ference, said such a session wasn't likely to be called
in the near future.
Kerrey said he also wants the Legislature's Special
Commonwealth Committee to investigate more fully
the,issue of the state's liability.
In a related development, Kerrey said the settle
ment between former Banking Department Assist
ant DirectorLegal Counsel Barry Lakg and the
Department of Banking was necessary.
Lake was fired by the Banking Department in
January because of alleged errors he made in con
nection with the Commonwealth case. He took the
state to court to get his job back ami, under the
terms of the settlement, he was offered his former
position, but resigned instead.
Kerrey said the level of proof is higher in the
public sector than the private sector. Therefore, he
said, it would have been difficult for the state to
defend itself against Lake's suit. :
Kerrey, responding to statements that the settle
.ment was not intended to give Lake his job back,
said Lake could have had his job if he had wanted it.
"My sense of it is that Barry Lake was offered the
job and, had he accepted it, he would have had the
job," Kerrey said. "But there was some thought
beforehand that he might not take it."
In other comments, Kerrey virtually conceded the
Democratic presidential nomination to former Vice
President Walter Mondale, but said he would stay
committed to Sen. Gary Hart.
Noting the bitter primary campaign the two can
didates have fought during the last few months,
Kerrey said. They're the ones who will determine
the course of this campaign. It will be difficult for
some people in some of the states where the cam
paign was pretty heated. I can assure you it was
pretty heated in New Jersey."
Kerrey was in New Jersey Monday.'meeting with
officials of AT&T.
Kerrey said the Democratic nominee would have
a difficult time running against President Reagan in
the general election.
. "Whoever the Democratic nominee is, he's going to
have a lot of work between now and November,"
Kerrey said.
The following incidents were report- inglot.
ed to the UNL police department bet- 1:23 p.m. Fire alarm reported
ween 7:30 a.m. Monday and 8:30 p.m. sounding at 501 Building. Alarm was
Wednesday. tripped by malfunctioning smoke de
Monday - tector. ,
7:28 a.m. Theft reported from car 2:43 p.m. Two-car accident report
parked near the Recreation Building, ed in parking lot near Selleck Quad-
1:33 p.m. Indecent exposure re- rangle. 7X
ported in alley near Parking Area 30 Wednesday
on East Campus. 3:02 a.m. People reported sleep-
4:30 p.m. Security alarm reported tag in Ferguson Hall lounge,
sounding at Hamilton Hall. Cause un- ,8:10 a.m. Car accident reported at
known. 1 6th and Y streets. Injuries were report-
Tnesdsy' - - " ed.,
12.56 a.m. Person arrested for 9:38 am. Suspicious person report
driving while intoxicated at 1 2th and ed near Nebraska Union. Police report
R streets. ed person wbs a transient.
8:04 a.m. Suspicious person re- 8:31 p.m. Fire alarm reported
ported near Teachers College. , sounding at the Sheldon Art Gallery.
10:21 a.m. Two-car accident re- Alarm was tripped by overheated
ported near the Dental College park- motor.
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Cffsr Expires June 16, 1S34
Friday, June 8, 1984
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Pago 3