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Down Time** is Lis motto. And most
he candeliver In a matter of hours
:ttires froin the finest line-up avail*
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IDAUTOTIRES
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FRUCK A
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RIPLE-RIB FRONT TRACTOR TIRES
usually $28.95*
lor size 400-15
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AOUNT JOY
h B. HOSTETTER &
SONS, INC.
SW. Main St.
“hone 653-1841
LRAGE
Y & SON,
CAUFFMAN BROS.
13 W. Main St.
Phone 285-5951
ie 665-2271
LE
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-6465 1
HOLLAND
1 B. C. GROFF, INC.
10 S. Railroad Avenue
Phone 354-8001 '
DEALERS’
IRE SERVICE
Here’s the traveling store. This truck is equipped ,
stocked and geared to give the fastest on-the-farm
service you’ve ever had on all your farm tire needs —
EXPERTS
removeand replace liquid in your
/enloanyou a tire if yours must be
ftsrrepairs.
V*A V. A*\W WA ** V.i.WrtW.A'.AW. V» /-wX/ /v A- vvw •■ .vrtvt -.y. ,y,Y,
An On-The-Farm Tire Special
for J5 00
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• LIQUID INFLATION
• vulcanizing AND REPAIRING
» plus fax & two recappabFe casings
NEW HOLLAND SALUNGA
ALLEN H.MATZ, INC.
505 E. Main St.
Phone 354-2214
QUARRYVILLE
GRUMELLI’S FARM
SERVICE
R. D. #2
Phone 786-3630
C. E. WILEY & SON
101 s. Lime St.
Phone 786-2895
He is as close
as your phone
R. M. BRUBAKER, INC.
145 Prospect Road
Phone 898-2294
WAKEFIELD
C. E. WILEY & SON
Phone 548-2110
WASHINGTON
BORO
NISSLEYFARM
SERVICE
R. D. #1
Phone 285-4844
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Lancaster Farming, Saturday, March 23, 1968—23
Pennsylvania Hay And Corn
Intentions Same As Last Year
Reports from Pennsylvania
farmers as of March 1 show in
creased acreages of barley and
soybeans over last year, accord
ing to the Pennsylvania Crop
Reporting Service. Reduced
plantings of wheat, rye. oats,
potatoes, and tobacco are re
ported. Corn and hay acreages
are currently forecast as being
unchanged from a year earlier.
Farmers plantings of winter
wheat show a strong reaction to
the low prices received for the
Bill Would Ease
Estate Tax Burden
A bill to ease the burden of
federal estate taxes on sale of a
family farm when the owner dies
has been introduced in the U S.
Senate. The bill, S 2600. has been
introduced by Senators Harris,
Oklahoma: Carlson, Kansas; and
Curtis, Nebraska.
Drafted by the National Live
stock Tax Committee, it would
amend the Internal Revenue
Code of 1954 by providing a more
equitable method of valuing
farms, ranches, and other small
businesses for federal estate tax
purposes
According to Senator Harris,
“In recent years, an upward
trend in the sale of farm and
ranch properties, pri m a r ily
caused by speculators investing
in land, has produced higher and
higher taxes at the death of the
farmer or rancher. Often the
heirs have little or no cash with
which to pay these death taxes.
This already has forced the liq
uidation of many family live
stock operations and could force
the sale of countless other ranch
es and farms on the death of
present owners.
“The prime reason for the up
ward trend in valuation is the
Internal Revenue’s interpreta
tion of the requirement in the
Federal estate tax regulations
that the estate tax be imposed
on the ‘market value’ of the
property held by the decedent at
the time of his death.
“Today the price for which
farm or grazing land might sell
to speculators is out of all pro
portion to what it will earn for
farm or grazing purposes. Un
fortunately, however, many rev
enue agents refuse to give any
consideration whatsoever to the
1967 crop, with the acreage
planted last fall totaling 414,-
000. This acreage equals the rec
ord low in 1966, and is 18 per
cent below last year and 10 per
cent less than the 1962 66 aver
age planted acres. The rye
plantings followed right along
with wheat, with 48.000 acres
planted last fall, down 30 per
cent from a year earlier but the
same as average. Barley plant
ings utilized some of this acre
age by increasing to 190,000 ac
res. 10 percent greater than last
year and 20 percent more than
average.
Acreage intended for corn is
estimated at 1,250,000 acres, the
same as last year and 3 per
cent greater than average. This
equals the 1967 plantings as the
largest acreage planted since
1956. The trend of recent years
has been to increase soybean
plantings in the state, and the
intentions are to continue this
trend into 1968 The acreage in
tended for soybeans for all pur
poses in 1968 is estimated at 27,-
000 acres, 8 percent above last
year and 23 percent greater
than the 5-year average
Oats seedings are expected to
total 499,000 acres for 1968 This
will be 2 percent below 1967
seedings, 16 percent below av
erage.
earning capacity of the ranch or
farm in determining its value
for estate tax purposes. Thus,
the family which does not have
substantial outside assets cannot
pay the estate taxes. So, the
property has to be sold and can
not be passed on to the next
generation.”
Senator Harris summarized
the basic provisions of the bill
as follows:
“In general, since other small
businesses have a similar prob
lem, this bill would apply in any
case where a decedent owned an
interest m a closely-held busi
ness, whether m proprietorship,
partnership, or corporate form.
“In such a case, the estate’s
representatives would have the
option of having the decedent’s
interest in the business valued
either at its market value, as at
present, or the higher of the de
cedent’s cost basis or a value
based on the reasonable earning
power of the business ”