Preceding section, in small type, super-nated terminal market in carload lots seded by following section during period cov- which has been shipped by rail from a ered by this Supplement]

diana, Iowa, Minnesota, Missouri, Ne- | paid freight bill which has been officially braska, Oklahoma, South Dakota, Texas, registered for transit and will be held and kept alive, within statutory and tariff limiand Wisconsin such rates shall be com- tations, for the benefit of the holder hereputed on the basis of the average freight of. The aforementioned original paid freight rate from all shipping points other than bill carries notation thereon by the railroad subterminal markets in each county to agent showing transit balance, if any, of through rate from the appropriate terminal market. (Town)

Each approved warehouse will be advised as to the loan value applicable to wheat stored in such warehouse. Producers may obtain from the county committee the loan values applicable to wheat stored on each farm and in the public warehouses. Loan values will be published in supplements for the several wheat loan States.

(County)

origin, to

of

(State)

point of

(Basic loan terminal market) cents per 100 pounds.

(Warehouseman)

(Address)

(2) Separate schedules of loan values will be issued for the States and counties hereinafter set forth:

STATES AND COUNTIES

Idaho: All counties south of Idaho County.

Utah: All counties.

Colorado: Alamosa, Archuleta, Chaffee, Conejos, Costilla, Custer, Delta, Dolores, Eagle, Fremont, Garfield, LaPlata, Mesa, Moffat, Montezuma, Montrose, Ouray, Pitkin, Rio Blanco, Rio Grande, Routt, Saguache, San Miguel.

Wyoming: Lincoln, Sublette, Sweetwater, Teton, Uinta.

The loan value of eligible wheat stored in approved subterminal warehouses (approved warehouses other than those situated in the designated terminal markets that have executed the Terminal Warehouse Agreement, 1939 CCC Wheat Form H), which was shipped by rail may be determined by deducting from the appropriate designated terminal market loan value an amount equal to the transit balance of the through freight rate from point of origin for such wheat to such terminal market; Provided, In the case of wheat stored at any railroad transit point, taking a penalty by reason of out of line movement, or for any other reason, to the appropriate designated market, there shall be added to such transit balance an amount equal to any out of line or other costs incurred in storing loan wheat in such position as determined by Commodity Credit Corporation. Arrangements have been made for the railroads to indicate transit balance of the through rate on the inbound paid freight bills on a basis of 100 pounds. To obtain the loan value as determined above, the warehouse receipts, in addition to other required documents, must be accompanied by the The loan value of eligible wheat stored original paid freight bills duly regis-in approved subterminal warehouses in tered for transit privileges; Provided, the foregoing area (approved warehouses That Commodity Credit Corporation that have executed the Terminal Warewill accept in lieu of such bills, ware- house Agreement, 1939 CCC Wheat house receipts on which a legend, signed Form H) which was shipped by rail in by the warehouseman, has been stamped the movement of natural market direcor typewritten substantially in the fol- tion as approved by Commodity Credit lowing form or certificate of such ware- Corporation, shall be determined by addhouseman containing such an under-ing 3 cents per bushel to the country loan taking: value for the county from which the wheat is shipped and an amount equal to the transit value of the freight paid

re

The wheat represented hereby was ceived by rail freight as evidenced by original

All counties of Indiana, except Lake,
Newton, Benton, Porter, Jasper, White,
LaPorte, St. Joseph, Marshall, Fulton,
Elkhart, Kosciusko, and Starke.
Michigan.
Ohio.
Kentucky.
Tennessee.
West Virginia.
Virginia.
Maryland.
Delaware.
Pennsylvania.
New York.

F.R. 3547.

from point of origin to markets desig- | (b) (1)", to read as set forth above, by 1939 nated by Commodity Credit Corporation. Wheat Circular Letter 1, July 21, 1939; 4 Lending agencies and County Committees are advised that in each instance such transit value must be verified by the Agency Manager of the Loan Agency of Reconstruction Finance Corporation serving the area. In such cases, the warehouse receipts in addition to the required documents as set forth in § 208.10, must be accompanied by the original or duplicate original paid freight bills, or certificates of the warehouseman as to such paid freight bills. Such certificate shall be in the following form:

The wheat represented hereby was received by rail freight as evidenced by original paid freight bill which has been officially registered for transit and will be held and kept alive within statutory and tariff limitations, for the benefit of the holder hereof. Said original paid freight bill carries notation thereon showing the portion of the through rail freight from

§ 208.4 Protein premium. The following amounts shall be added to the loan values of hard red spring, hard red winter, and hard white wheat with the indicated protein content. Such premiums will be added to the loan value of farm-stored wheat only where the producer presents a protein certificate issued by a laboratory satisfactory to the Commodity Credit Corporation and in the case of wheat stored in approved warehouses, the producer presents such a certificate attached to the warehouse receipt of an approved warehouseman or presents a warehouse receipt of such a warehouseman with protein content indicated thereon.

Variations for grades. Loan values for eligible grades and subclasses shall be at the following schedule of premiums and discounts:

NOTE: This section was amended in entirety by Supp. 1, May 23, 1939; 4 F.R. 3546, the table was amended by substituting the word "Baart" for "Heart" as a subclass under (a) Where the loan value is based on the Portland, Oregon and Seattle, Washing- No. 2 wheat, the loan value on No. 1 ton markets, by adding the words "No. 1 wheat shall be 1 cent more than the loan Hard White . . . 78" under the San Francisco etc. markets, and by changing the next to value on No. 2; the loan value on No. 3 the last sentence which read "In such cases, wheat shall be 2 cents less than the loan the loan documents must be accompanied value on No. 2; the loan value on No. 4 by the original paid freight bills or certifi- wheat shall be 5 cents less than the loan cates of the warehouseman and other required documents as set forth in paragraph | value on No. 2; and the loan value on

No. 5 wheat shall be 8 cents less than the ance with the official grain standards loan value on No. 2.

(b) Where the loan value is based on No. 1 wheat, the loan value on No. 2 wheat shall be 1 cent less than the loan value on No. 1; the loan value on No. 3 wheat shall be 3 cents less than the loan value on No. 1; the loan value on No. 4 wheat shall be 6 cents less than the loan value on No. 1; and the loan value on No. 5 wheat shall be 9 cents less than the loan value on No. 1.

(c) The loan value on No. 1 heavy dark northern spring shall be 1 cent more than the loan value on No. 1 dark northern spring and the loan value on No. 1 heavy northern spring shall be 1 cent more than the loan value on No. 1 northern spring, and the loan value on No. 1 red spring shall be 2 cents less than the loan value on No. 1 northern spring.

(d) The loan value on yellow hard winter shall be 2 cents less than the loan

value on hard winter.

of the United States and the weight of said dockage shall be deducted from the gross weight of the wheat in determining the net quantity available for loan. The smut condition of wheat shall be determined on a percentage basis in accordance with the official grain standards of the United States, in California, Idaho, Nevada, Oregon, Utah, and Washington. In the foregoing area the quantity of smut shall be stated in percentage in accordance with the method described in 7 CFR 26.116 (a) and shall be stated in terms of half percent, full percent, or whole and half percent, as the case may be, and the quantity of smut so determined in pounds shall be deducted from the weight of clean wheat after deduction of other dockage. Elsewhere the smut condition of wheat shall be determined on a degree basis in accordance with 7 CFR 26.116 (b); Provided, That in the case of wheat which has an unmistakable odor of smut, or which contains balls, portions of balls, or spores of smut in excess of a quantity equal to 14 balls, but not in excess of a quantity equal to 30 balls, of average size in 250 grams of wheat, there shall be added to and made a part of the grade designation, the words "Light smutty"; Provided further, That in the case of wheat which contains balls, portions of balls, or spores of smut, in excess of a quantity equal to 30 balls of average size in 250 grams of wheat, there shall be added to and made a part of the grade designation, the word "Smutty." The garlic condition of wheat shall be determined in accordance with the official grain standards of the United States, and such condition shall be made a part of the grade designation by adding the words "Light garlicky" or the word "Garlicky," as determined under 1.95 such standards.* [1939 CCC Wheat 2.55 Form 1, as amended by 1939 Wheat CirThe discounts for smut and garlic de- cular Letter 1, July 21, 1939; 4 F.R. 3541, 35471 termined on a degree basis shall be as follows:

(e) The loan value on hard white shall be 1 cent more than the loan value on soft white, except as otherwise provided in this part or supplements thereto.

(f) The loan value on durum wheat shall be 7 cents less than the loan value on amber durum wheat.

(g) The loan value on mixed wheat shall be 2 cents per bushel below the established loan rate on the comparable numerical grade of that class of wheat contained in the mixture which would take the lowest loan rate applicable to any subclass thereof if it were not mixed. (h) The discount for smut determined on a percentage basis shall be as follows:

2% to 1%, inclusive.. 12% to 3%, inclusive. 82% to 7%, inclusive_ 72% to 15%, inclusive....

Cents per bushel

1.05

1.35

Light smutty.

Smutty.

Light garlicky.
Garlicky

3

6

2

6

NOTE: This section was amended by deleCents per bushel tion of the word "Montana" from the second sentence, permitting the smut condition of wheat in Montana to be determined on a degree basis, by 1939 Wheat Circular Letter 1, July 21, 1939; 4 F.R. 3547.

CROSS REFERENCE: For official grain standards of the United States for wheat, see 7 CFR 26.101-26.121.

§ 208.7 Determination of quantity of wheat. Loans shall be made at values

A

expressed in cents per bushel, a bushel | house approved by the Loan Agency of being determined to be 60 pounds of clean wheat free of dockage, when determined by weight; or 1.25 cubic feet of wheat testing 60 pounds per bushel when determined by measurement: Provided, That there shall be a deduction of three quarters of a pound for each sack in determining the net quantity of wheat collateral when sacked. In determining the quantity of wheat in farm storage by measurement, fractional pounds of the bushel test weight for wheat testing less than 60 pounds per bushel will be disregarded, and the quantity determined as above will be the following percentages of the quantity determined for 60-pound wheat:

Percent

98

For wheat testing 60 pounds or over--- 100
For wheat testing 59 pounds or over, but
less than 60 pounds_
For wheat testing 58 pounds or over, but
less than 59 pounds--.

For wheat testing 57 pounds or over, but
less than 58 pounds..

For wheat testing 56 pounds or over, but less than 57 pounds..

For wheat testing 55 pounds or over, but less than 56 pounds_

For wheat testing 54 pounds or over, but less than 55 pounds..

For wheat testing 53 pounds or over, but less than 54 pounds..

For wheat testing 52 pounds or over, but less than 53 pounds..

For wheat testing 51 pounds or over, but less than 52 pounds.

For wheat testing 50 pounds or over, but less than 51 pounds..

*

97

the Reconstruction Finance Corporation serving the district in which such warehouse is located. Warehousemen are advised to communicate with such Loan Agency of the Reconstruction Finance Corporation, concerning approval. list of the approved warehouses and their locations will be available at any Loan Agency of the Reconstruction Finance Corporation listed in § 208.19 or any State or county agricultural conservation office. Each approved warehouse must enter into an agreement with the Commodity Credit Corporation which may be obtained from the Loan Agency. This agreement will limit the warehouseman's lien and impose additional obligations to Commodity Credit Corporation. Approved warehousemen shall not issue and have outstanding at any time warehouse receipts in excess of the normal working capacity or licensed capacity of the warehouses. Under the terms of the warehouse agree93 ment, warehousemen are required to deliver either the identical wheat or coun92 try-run quality wheat of the quantity, class, grade, and protein content within one-half of 1 percent as stated on the 88 warehouse receipts or the accompanying documents. All wheat pledged as security for a note must be in the same ware83 house, and each producer must arrange for the storage of wheat in an approved warehouse either at a country or terminal point. Producers should arrange for cleaning wheat placed in storage containing in excess of 2 percent dockage in order to avoid excessive charges for transportation, conditioning, and storage. Wheat containing smut or garlic should not be commingled by the warehouseman with wheat free from such smut or garlic.*†

95

90

86

80

[1939 CCC Wheat Form 1, as amended by 1939 Wheat Circular Letter 1, July 21, 1939; 4 F.R. 3541, 3547] NOTE: This section was amended by the addition of the proviso to the first sentence, by 1939 Wheat Circular Letter 1, July 21, 1939; 4 F.R. 3547.

§ 208.8 Maturity and interest rate. Loans on 1939 CCC Wheat Form A will mature April 30, 1940. Loans on 1939 CCC Wheat Form B will mature 7 months from the respective dates thereof but not later than April 30, 1940. All

loans will bear interest at the rate of 4 percent per annum.*†

§ 208.9 Public warehouses. Commodity Credit Corporation will accept only negotiable, insured warehouse receipts or receipts in form required by statute covering wheat pledged as collateral to notes on 1939 CCC Wheat Form B issued by any public grain ware

house receipts must be dated on or prior § 208.10 Warehouse receipts. Wareto the date of the related note and properly assigned by an endorsement in blank so as to vest title in the holder, or issued to bearer, issued by approved warehousemen who are not owners of the wheat. Unless the warehouse receipts are stamped or printed "Insured" there must be attached, or included in, the certificate of the warehouseman the statement that the wheat is insured for not less than market value against the hazards of fire,