PennAg Meeting Flails Freeze
According to Dr. Carleton
Dennis, Vice' President for
Planning, Agway, Inc., Syracuse,
the American people have in
creased their standard of living
and their demand for luxury
foods. At the same time the
Europeans and Japanese have
also increased their demands for
food, and they are willing and
able to pay for American food
thus placing more strain on the
American food supply. Mother
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Nature in the past year has also
contributed to reduced food
production. Dennis was to the
annual PennAg Industries and
recent annual grain meeting.
Dr. Dennis reviewed the events
leading to Phase lIIV2 and the
future outlook. He stated that the
problems today stem from
continued management of the
economy beginning with
President Johnson’s “Guns and
Butter” speech of 1965 in which
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&SONS
Hickory Hill, Pa.
LANDIS BROS., INC,
Lancaster
the United States was portrayed
as a wealthy, affluent nation
which could afford both a war
and an expanding domestic
economy. Since then the in
flationary spiral has increased
yearly resulting in consumer
unrest which led to various price
control “phases”.
Dennis feels the price freeze
was “111-Conceived” and the
expert controls “unfortunate”.
The price freeze does not control
feed grain prices or wages, but it
does control the prices of meats
and finished products.
Dennis’ talk was followed by a
panel discussion including
PennAg members: Melvin
Wenger, Wenger’s Feed Mill,
Rheems, Penn. (Food
Processor); Dr. Richard
Peacock, Nutritionist, Pennfield
Corporation, Lancaster, Penn,
and Edwin Lovatt, President,
Lovatt & Company (Grain
Merchant), Ambler. The Panel
was moderated by Eugene E.
Eby, H. R. Wentzel & Sons,
Newport, Penn. Penn Ag’s
President.
During the panel discussions it
was brought out that the 60-day
freeze on prices has farmers and
grain processors caught in an
economic squeeze. Some grain
processors are closing their doors
because they have to pay
premium prices for grain, but
cannot raise their prices above
June 1-8 levels.
From the floor, Donald W.
Parke, Executive Vice President
of PennAg added that “One
dealer was told by the Internal
Revenue Service he had three
choices: Roll prices back to June
1-8 level, disregard the freeze and
take the chance on a $5,000 fine,
or shut down.”
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STOLTZFUS
FARM SERVICE
Cochranville, Pa.
Lancaster Farming. Saturday. July 7.1973
Too Modi Month, and
Not Enough Paycheck?
Ever hear the expression, “Too
much month and not enough pay
check?”
It’s another way of saying that
your income doesn’t cover all of
your expenses. It also means that
if you keep up this way of finan
cial life, you’ll end up hopelessly
in debt.
But you don’t have to —end up
in debt, that is, says the Pennsyl
vania Bankers Association. Not
if you manage your money prop
erly. And managing your money
is easier than you think if you
develop a personal or family
budget.
Now don’t let the idea of budg
eting frighten you. It doesn’t
have to be painful. And it doesn’t
have to be difficult. Don’t con
fuse it with dieting, thinking that
budgeting is counting pennies in
stead of calories.
A budget is more like a road
Parke went on to urge the
members and farmers to
document all business changes
either in production or being
forced out of business due to the
price freeze. The information
should be sent to their
Congressmen, PennAg and
James McLane, Director, Special
Freeze Group, Cost of Living
Council, 2025 M St., N.W., Room
5308-D, Washington D.C. 20508
Also brought out m the panel
discussion by Dr. Peacock was
the need to “tighten our
nutritional belts.”
“When the price of feed
ingredients was low, farmers
would use more protein than
needed. Now they are finding
that they can conserve
ingredients and still produce
basically the same quality
o public tirvict by (hit iwwspapr t oi Hi*
Pennsylvania lonka rs Association
MAKING YOUR
MONEY COUNT
(Number one of i eeriei)
map. It tells you how to get where
you’re going and keeps you from
getting lost. Simply put, a budg
et is a plan for organized spend
ing and saving ahead of time.
You can still have choices on
where and how you are going to
spend your money. But a budget
lets you see the alternatives more
clearly, helps you weigh values,
set priorities, and make wiser
decisions. Budget planning helps
—sometimes forces —you to put
first things first in order to stay
within your income. More im
portantly, it helps you to know
that your money is going where
it’s needed —or at least where
you want it to go.
So if you w«nt to end up dollars
ahead, the Pennsylvania Bankers
Association advises you to plan
your budget carefully. Then stick
to your plan. You’ll find it’s a
good way to make your money
count.
product”. Dr. Peacock did ob
serve that wmle substitution and
changing levels of ingredients in
a ration were possible, there was
a limit to such changes which
would help but not solve the basic
problem.
Mr. Lovatt said that the in
dependent American farmer has
proved that “He is the most ef
ficient farmer in the world, in
contrast to the Russian farmers
and their government’s in
terference”. Lovatt conceded
that the export embargo was
needed, because world demand is
outstripping our domestic sup
plies.
The panel concluded that
farmers and dealers must tighten
their belts and be super cautious
to stay in business through the
coming months.
19