MORTGAGE FINANCE

Press, Volume LXXI, Issue 21414, 5 March 1935, Page 8

MORTGAGE FINANCE

%', lilt. KDIT'-a Or Till. piiE-iS. -::■--1 am glad to noiice that my re- (• ■ : !>.::<■]• with regard to the above v -.iter nas brought replies from "Eo.ii'y" and "Non-Expert." To deal '. •:' with the letter of "Equity," I quite ■■ .!:.-- the difficulty of estimating the \ .;ue of farm properties at the present : :: e, a difficulty, by the way, which '. ir.ake the activities of the proi (.u corporation somewhat hazard- ! air. giud to know that the ..-enoiriers in ihe corporation will re re-poi.sible for past losses by ■■' .State Advances Department; but ' a::: still of the opinion that an esti- . r. :.,: 'ne:-o .-hould be made avail- ■.■->. a> obviously the losses made in . ..- past have n very considerable a ar.rig upon tin l probable earnings of '.'..- corporation in the future. .'■'fj'.v '.'> deal with "Non-Expert's" .' ••• r. I have to thank him for the in- .'■ . ::.at:o:i that he has supplied as pubcq .:. •.he Year Book. It is intcr- ■ •;.'. tu :;ote ;h:*t the actual losses re-■■-'i.'.'j amount to more than 1 per ■-.'.: i'i the funds lent. If this was ■ v. !:■ ic- L'.oi-y it would be quite bad .::.-; a; I notjeed one member of •' .;-a::.<.-!';*. was of the opinion that 1 . . ■:.:. between borrowing and -;.:.», rat*.-: would lower all expenses -i had debts and also show very .•-i.-oii.e profits. However, it is ■ . ily ' ; ".e information that is not in y. •„■■■ l-io'-k that interests me; and :. r. we i\ :ol;['.::( the difficulties of I -till fail to see why tiiis '. : :. ■'. be made available. .; ■/.!. •.-very commercial concern , ■-.!. e:':i.:.' it l - balance-sheet has to ;..-•. .a;.:;j;'. for probable bad debts .■:■ '. merely f'T those that have ..:];.- of-currcd. In closing I again ■ era!-.- the hope that some member .'. ; . .■ ■': :-. i'-r this information and will • : i *. <'>.'tcr:t im'.il n is supplied.— INVESTOR. *-" :. ' !, ■•. ! r '-'is.