Fraud in SEC Suit 1 1 The Securities and Ex change Commission sued one of the nation’s major farm organizations Tuesday, charging it with fraud in the borrowing of more than $7 million' from its members. The SEC said the National Fanners Organization bad borrowed the money under HOG PRODUCERS! Sold in sorted lots the auction way. See them weighed and sold and pick up your check. SALE EVERY MONDAY 9:00 A.M. NEW HOLLAND SALES STABLES, INC. Phone 717-354-4341 Abe Diffenbach, Manager *jr: /f HP# 998 C Greater capaci . ~ , Operates with ies£ poWc(rio Requires less adjustment " than other mower eonditioner^C any Operate in heavy hay or sudax a gear faster. Full-width conditioning rolls eliminate dead spots that waste power. And you’ll find there’s no power loss due to side draft on hillsides or on the level. You get increased capacity because larger diameter 44-inch-reel is less affected by changing crop conditions. And, the unique position of the reel bats holds the crop fiat so it feeds through the conditioning rolls, without hesitation. What’s more, confrolied platform float and self-compensating, roll pressure lets you move from field to field, crop to crop and rarely ever readjust the 990. , Call us for a demonstration MESSICK FARM EQUIP. ELIZABETHTOWN R. S. HOLLIHGER & SOM MOUNTVILLE, PA false pretenses, failing to disclose fully its financial condition. Hie SEC contends that the NFO is insolvent, which the farm group denies. The suit was filed in federal court in Des Moines, lowa, and announced in Washington. The NFO, one of the <sr 367-1319 INTERCOURSE INTERNATIONAL HARVESTER EPHRATA, PA. ERB & HENRY EQUIP. INC. 22-26 Henry Ave., New Berlinville, Pa. I Mile North of Boyeiiown, Phone:2ls-367-2169 country’s more militant farm groups, has very few members in this area. NFO spokesmen at its headquarters in Corning, lowa, said they would have no comment until they had received a copy of the complaint. The NFO’s president, Oren Lee Staley, has suggested in a confidential letter to his members that the SEC’s investigation is part of a government move to destroy die farm group. He noted that former White House Counsel John W. Dean HI has testified that NFO was on the White House “enemies list.” An SEC spokesman denied that the filing of the suit was related to politics. “The charges speak for them selves,” the spokesman said. “I don’t think it relates at all.” The suit was filed after more than three months of investigation and negotiations, during which the farm group launched an effort to collect several million dollars in bade dues from its members as a C. B. HOMED & SON COPE i WEAVER CO. NEW PROVIDENCE 285-4531 Sales and Service 786-8231 786-7351 733-2283 Arthur F. Martin (right above) marketing specialist for the Maryland Department of Agriculture and 23- year, veteran of the teaching staff of the NEPPCO Egg Quality School is shown holding Susan Cracas, infant means of showing that the group is financially sound. In filing the suit, SEC lawyers brushed aside requests by the farm group for a fuller investigation and for an informal agreement to meet the commission’s objections. The suit alleges that the farm group made false statements about its financial condition and failed to disclose pertinent facts when it issued promissory notes to its members and officers for money borrowed from them. The charges were brought ‘under the fraud section of federal securities laws. The suit seeks a court order to prevent the NFO from continuing its allegedly fraudulent practices. lir^ki/mk Among some Moroccan tribes, women play ball to bring on rain. That’s a lot of RBls rains batted in! Oldest & Youngest at NEPPCO Egg School - FARMERS For Increased Yield and Protein in Your Alfalfa, Apply SURE CROP Plant Fo«tf7-14-7 With Trace Elements with Your Weevil Spray Program. FOR MORE INFORMATION Call 717—469-2864 orwrite P.O. Box 129, Hershey, Pa. 17033' Representatives Needed. daughter of Mrs. William Cracas (left) who, with her husband, operates an egg farm at Chester Springs, Pa. The occasion was the 43rd NEPPCO school held June 942 at the Shawmut Inn, on the coast at Kennebunkport, Maine. Some 47 “students” from 11 northeastern states were enrolled. Both Mr. & Mrs. Cracas attended as "students”, taking turns at in-class baby sitting. Young Susan was a good egg about it all, sleeping through most of the lectures. I * f
Significant historical Pennsylvania newspapers