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AUGUST R.F.C. LOANS TOTAL $186,209,310
Report on 1,110 Loans Made Public Today by House Clerk—Refuses to Withhold Publication.
Washington, Oct. 7.—(AP)—The Reconstruction Finance corporation report for August made public today by Mr. South Trimble, clerk of the house of representatives, showed loans totaling $186,209,310 authorized during that month.
The report of the corporation was made public today by South Trimble, clerk of the house of representatives, over the protest of Atlee Pomerene, chairman of the reconstruction board.
The August report also showed increases in previous loans aggregating $10,691,010, making the total disbursements for the month $122,277,641.
Trimble's announcement of his decision to make the report public contained an opinion by his counsel, South Trimble, Jr., which said that "after careful examination of the legislative history of the emergency relief and construction act of 1932, and of the protest and brief of the Reconstruction Finance corporation, I am of the opinion that the act gives you no discretion to withhold the monthly report of the Reconstruction Finance corporation from public inspection."
Banks and trust companies received $85,057,605.43 of the total authorization of August this sum including $7,772,900, to aid in the reorganization or liquidation of closed banks.
Loans included:
Minnesota:
Altura, Altura State bank, $5,500; Altura, Altura State bank, $18,500; Belle Plaine, State bank of, $12,000; Bemidji, First National bank, $56,000; Benson, Swift County Bank Inc., $15,000; Blue Earth, Blue State bank, $45,000; Ceylon, State Bank of, $15,000; Chisago City Security State bank $16,000; Eden Valley, State Bank, $15,000; Ellendale, Security State bank, $20,000; Ely, First State bank of, $10,000; Eveleth, Peoples State Bank Inc., $12,000; Faribault, Citizens National Bank of, $60,000; Faribault, Faribault State Bank & Trust Co., $29,000.
Finlayson, First State Bank of, $29,960; Floodwood, First State Bank of, $10,942; Foston, First National Bank of, $13,987; Frost, State bank of, $20,000; Gaylord, Citizens State bank of, $18,500; Glenville, Citizens State bank of $13,303.98; Hanska, State bank of, $25,000; Houston, Houston State bank, $14,000; Hutchinson, Citizens bank $90,000.
Jackson, Brown County National Bank of $2,000; Janesville, Citizens State bank, $22,000; LeRoy, First State bank of, $20,000; Luverne, First and Farmers National bank in Luverne (receivers) $14,000; New London, Farmers Bank $5,000; New Prague, State Bank of $140,000; Onamia, First State Bank of, Palisade, Palisade State bank of, $14,000; Pelican Rapids, Pelican Ottertain County and Pelican Rapids State bank, $12,000; Pine City Farmers and Merchants State bank, $22,500; St. Bonifacious, Peoples State bank, $13,000; Renville, Renville State bank, $16,500.