Coops Using More Borrowed Capital
PUBLIC SALE of the
LLOYD MILLER DAIRY HERD AND
MILKING EQUIPMENT
SATURDAY, DEC. 2,1972
Located along Muddy Creek Road leading from Route 222 at
Muddy Creek Church to Kramera Mill about Vt mile from Rt.
222, Lancaster County, Pa.
Consisting of 35 head of Canadian and Wisconsin and other
milk cows. This is a high producing herd with size and quality
in various stages of production including some fresh and close
springers. All cattle checked for pregnancy. Health charts on
sale day. Also a pony, cart, harness and saddle. DeLaval 4 unit
stainless steel milkers; DeLaval milker pump and pipe for 40
cows; 500 gal. stainless steel ESCO bulk tank; stainless steel
milk buckets and strainers and wash tub; elec, water beater.
Sale at 1 P.M. Milking equipment will be sold first.
u i, . ~ . ~ Terms by
H. H. Leid, Auctioneer. UOYD R M | LLER
Sensemg, Clerk.
Implement Sale Sat, Dec 16.
PUBLIC SALE
FARM MACHINERY
HAY FEEDER STEERS
SATURDAY, DECEMBER 9, 1972
Located on the farm southwest of Jonestown, Leb
anon County. Turn south off first herd road on old
Route 22 west of Jonestown. Located between old
Route 22 and Water Works Road.
10 heed of feeder steers weighing approx. 800 ponnds
350 INT. TRACTOR WITH TORQUE CONVERTER
FARMALL H TRACTOR
NEW IDEA NO. 323 CORN PICKER - SLIGHTLY USED
2 Little Giant gravity bins, Oliver 14” 2 bottom plow, 611
harvester with 641, 621 and 631 attachment heads. JD No.
1 crusher,, manure loader with bucket and blade. Woods
Bros. 6’ combine, Mayrath 20* grain auger. Century crop
sprayer on wheels, Int. fertilizer spreader, rubber tired
wagon with sideboards, NX 3 bar side rake, MX 4 bar side
rake, 24’ Smoker elevator, 16’ rubber tired wagon, JD 13x7
disc-grain drill, Oliver sickle bar mower. Cobey manure
spreader, 3 section harrow, JD com shelter, hammermlll,
manure sled, peg tooth harrow. Ford 14-80 PTO baler and
NH No. 28 belt blower with 30’ pipe.
Bag wagon, shovels, 36* aluminum ext. ladder, forks, large
bam hinges, Iron trough, poultry equipment, 3 fence
chargers, 2 hole coin shelter, endless belt, 75 locust posts,
cultivator, FUnchbaugh unloading unit, 5. & 6 ton Jacks,
fence supplies, saws, tools, Stewart cow clipper, 2 false front
ends with sideboards, Homelite 101 chain saw, metal troughs;
56 g*L drums, gasoline tank, block and tackle, blow torch,
hillside hitch and many more farm related items.
15- ton straw,22 ton mixed hay,' 30 ton ear com
and 600 bu. barley.
All equipment in very good shape.
Farm is sold, everything goes.
Harry. H. Bachman - Auctioneer
Ebersole and Moyer - Clerks
Lunch stand by Fredericksburg Church of the Brethren
ANNOUNCING
NEW POLICY AT
LANCASTER STOCK YARDS
STOCKER AND FEEDER AUCTION SALE
Second Friday Each Month
Next Sale Dec. 8, 1972
at 1:00 P.M.
ALL GRADES, BREEDS. WEIGHTS
LOAD LOTS —SMALL LOTS
LANCASTER STOCKYARDS
Uncaster, Pa. Ph. 717-394-2611
GRAIN
11:00 A.M.
Conditions by:
Allen Moyer, Sr.
Farmer marketing and supply
cooperatives are relying less on
member investments and more
on borrowed funds to meet their
growing capital needs, states a
U.S. Department of Agriculture
(USDA) report released this
week.
This noticeable departure from
traditional financing occurred''
between 1962 and 1970, according
to a financial profile compiled
and published by USDA’s Far
mer Cooperative Service.'"
Borrowed capital during this ...
period increased at an average
annual rate in excess of 16 per
cent, while equity capital rose
less than three percent.
At the close of fiscal 1970, the
capital structure of the 7,289
cooperatives studied looked like
this:
Equity capital of $3.9 billion
represented less than 47 percent
of total assets, compared with
more than 57 percent in 1962.
Borrowed capital of $2.8
billion was about a third of total
assets, compared with less than a
fourth in 1962.
An increasing proportion of the
borrowed capital is coming from
banks for cooperatives. These
banks are part of the farmer
owned and operated farm credit
system. In 1970, banks for cop
peratives were providing 64
percent of copperatives’ total
borrowed funds, compared with
50 percent in 1962.
The changing financial profile
of farmer copperatives has been
decisively influenced by the
actions of the 100 largest cop
peratives, the report indicates. A
separate section analyzing these
largest organizations shows the
top 100 account for about half of
the total volume and capital
requirements of all cooperatives.
Traditional revolving fund
financing is now believed
inadequate to provide enough
capital for cooperatives to
continue to grow and provide the
additional services farmers need,
according to the report. Only 49 of
the 100 largest were still using the
revolving fund method in 1970.
Several modifications in using
revolving funds have been made.
♦ * ♦
Russian Christians
The Russian ruler Vladi
mir introduced Christianity
into his country. He became
a Christian in 987 and short
ly thereafter ordered all his
subjects to become Chris
tians.
Lancaster Farming, Saturday, November 25,1972
Major considerations in
developing new financing plans,
the report states involve:
generating more permanent
capital to replace or supplement
PUBLIC AUCTION
100 HEAD HIGH GRADE HOLSTEIN
DAIRY CATTLE
Sale to be held fn the dairy barn arena at the Aber
deen Sales Co. in Churchville, Harford Co., Md. located
on Md. Rt. 22,6 mi. east of Bel Air, Md. (via U.S. Rt. 1)
and 6 mi. west of Aberdeen, Md. (via 1-95 or U.S. Rt. 40)
on
FRIDAY, DECEMBER 1,1972
This sale features the entire herd of A. P. Mickle of
Havre de Grace, Md. who has sold his farm. The herd
consists of 60 head of milking cows in various stages of
lactation. Sixteen cows were fresh within the last 60
days; 14 are close springers; balance is in full flow of
milk and bred back. The cows have been examined for
pregnancy. This is a good home-raised herd of top
quality Holstein cows. Mr. Mickle selected only the best
pure bred bulls for use in his breeding program. Very
few cows have calved more than 3 times. All animals
-show quality, size and are well uddered.
We will also sell 20 head of top open Holstein heifers
from the Mickle herd which are ready to breed. Heifers
average between 800 and 950 lbs.
We will sell another consignment of fresh and close
springing heifers.
All cattle are T. B. Accredited: Certified Bangs Free;
tested within 30 days of sale for out of state shipment.
MACHINERY SALE
TUESDAY DECEMBER S, 1972
Sale to be held at the Mickle Farm located on Old
Level Road. From Churchvilfe, Md., take Glenville Road
off Md. Rt. 155; go 2Vi mi. on Glenville Road; take Old
Level Road east 1 Mi. to farm. From Darlington Road,
take Old Level Road west 2Vz mi. to farm. SIGNS WILL
BE POSTED. DAIRY EQUIPMENT: Universal 400 gal.
vac. bulk tank; Universal dumping station-50' glass
line; 6 Surge milkers; automatic tank washer; dbl.
wash vat; Rudd 52gal.water heater; Surge vac. pump.
FEED: 1 Silo 12’ x 40’ 2-3 full corn silege; 1 Silo 12' x
30’ 3 /4 full corn silege; approx. 2000 bu. new corn.
MACHINERY: Int'l No.so4diesel tractor; Inti. No. 656
diesel tractor: J. D. No. 50 tractor; No.-861 Ford
tractor; J. D. No. 1010 tractor; Case No. 970 diesel
tractor w-cab 100 hrs.; 1950 Chevrolet 2 ton truck;
Int’l. 4 bottom 16” plow; No. 411 Super Chief; J.D.2
bottom 14” plow; J. D. kilifer disc; J. D. 8’ disc; J. D.
14’ disc; J. D. self-propelled combine-corn head; Case
10’ chisel plow; Massey Ferguson 10’ disc on rubber;
J. D. 15 hoe drill; J. D. 2 row mounted corn planter;
Case 4 row no-till planter; J. D. cultivators; 3 section
spring tooth harrow; 3 section spike tooth harrow;
Brilhon cultipacker; J. D. blower-50' pipe; Clark 200
gal. sprayer on rubber; New Holland No. 55 rake; New
Holland No. 461 9’ heavy duty hay bine; 2 J. D. No. 6
choppers with both heads; J. D. No. 138 chopper;
Massey Ferguson combine 8’ cut PTO; Ford 1 row corn
picker; New Holland chuck wagon; J. D. 7’ mower;
Ford posfhole digger; Int’l. 32’ elevator; Ford Loader;
2 grain wagons; 2 New Idea spreaders; 1 wagon w-hay
bed; 2 flat wagons; grass seeder PTO; wood saw and
many more small farm tools.
ABERDEEN SALES CO. ° W " E *' |Wi „
Sale Managers & Auctioneers) A. P. MICKLE
P. O. Box 371 Havre de Grace. Md.
Aberdeen, Md. 21001 FARM MANAGER:
Phone; 734-6050 CARL WOOD
Havre de Grace, Md.
Phone: 734-6612
ATTENTION!! KEEP THESE TWO DATES IN MIND
Both sales are worth attending.
Not responsible for accidents on sale date.
Lunch served: Ladies Hopewell United Methodist
Church
traditional revolving types of
capital;
assuring equitable mem
bership participation in finan
cing; and
maximizing financial
leverage (substituting more
borrowed capital for member or
equity capital.
8 P.M. Sharp!
11A.M. Sharp
31