FHA Rural Development
Program In 2nd Year
The maximum amount of
credit specifically budgeted
for the development of rural
America in fiscal year 1974
has been delivered,
Secretary of Agriculture
Earl L. Butz said recently.
“The Department of
Agriculture, through Far
mers Home Administration,
has moved to provide all
newly-authorized credit
under the Rural Develop
ment Act,” Butz said.
The Rural Development
Act of 1972 authorized three
new major programs for
funding rural development:
(1) guaranteed loans to
encourage jobs by promoting
the establishment of
business and industry in
small towns and rural areas,
(2) grants to assist
municipalities in attracting
industry, and (3) loans for
community facilities that
would improve rural life.
FmHA records show that:
$2OO million was authorized
for business and industrial
loans; FmHA guaranteed
399 loans for $199,980,545.
$lO million was authorized
for industrial grants; FmHA
made 136 grants for
$9,996,700.
And $5O million was
To A Cat Wheel Loader- **
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IR YOU ARE NOW THE OWNER
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YOU SHOULD KNOW THESE FACTS
ABOUT THE CAT 910 LOADER
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every detail on the 910 Loader So, when buying or trading,
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V. sl ° ) EQUIPMENT COMPANY
m YOUR CATERPiULAJP DEALER Don’t buy that machine you thought you had to buy. Come
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HARRISBURG
5300 Paxton St
WILKES-BARRE
Route 309
provided for cummunity
facilities; 102 loans for
$49,830,700 were made.
Although the Rural
Development Act was
passed in 1972, loan funds for
the program were
authorized by Congress on
Oct. 24, 1973, leaving only 8
months of the fiscal year in
which to initiate three major
programs.
. In order to get a head start
on processing loans and
grants, in July 1973 Farmers
Home Administration in
structed its network of field
offices to begin acceptinhg
preapplications in all three
programs.
FmHA reports that, during
the year, its field offices
received over 2,300 ap
plications for business and
industrial loans, aggregating
$l.l billion. Of these, 889
were reviewed in the
National Office for
feasibility.
There were nearly 300
applications for about $6l
million in industrial grants
and over 400 community
facility applications for
some $143 million that
received consideration.
In anticipation of funding,
regulations for the new
FRACKVILLE WHITE OEER
Route 61 Route 15
FHILIPSBURG MANSFIELD
307 Alder St Route 6
programs were written by
June 1973, and training
programs were conducted so
some 1,750 FmHA offices
could handle the program.
“The Act also authorized
Farmers Home Ad
ministration to guarantee
loans made by private
lenders. FmHA worked with
bankers, savings and loan
officials and others to
develop acceptable
procedure, and helped
disseminate this information
to commercial lenders
nationwide during this same
period,” the Secretary said.
“It is also worth men
tioning that this was done by
persons who were also
handling loans for farm
ownership and operation, for
water and waste disposal
systems and for rural
housing - a total loan
program of nearly $3.6
billion.
“The first fiscal year is
now complete. The record is
clear. The Fanners Home
Administration and others in
the Department have done a
fine job in achieving the
year’s goals, and all Amer
icans are benefitting from
the improvement that is now
taking place in our rural
as,” Butz said.
We want to talk to people who thought they could not buy
Caterphlar built machines. We want to talk to people who
never thought of buying Caterpillar built machines. If you
have a need for a small wheel loader in your work, the
CAT 910 Loader is the one piece of equipment to fill that
need.
When you combine the features and performance of the
CAT 910 Wheel Loader with the skilled maintenance and
parts availability you can count on from Cleveland
Brothers, you’ve got a total package that’s hard to equal
And if you consider financing a problem, give us a call.
We can tailor financing to fit your needs.
To find out more about the CAT 910 Loader call us In Har
risburg (717) 564-2121, or fill in and return this coupon
rHHi ■■ IBS 3HI mmß
Promotion Manager mi
■ Cleveland Brothers Equipment Co ■
PC 80x2535 I
Harrisburg, PA
I I
■ Please rush me your free, full-color Catalog
describing the features and specifications of the H
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| Name & Title I
Potato Processing Study
Group Issues Report
The Report of the Potato
Processing Study Group,
released Aug. 2 by the U. S,
Department of Agriculture
(USDA), recommends that
producers develop multiyear
contracts with processors to
reduce price and volume
instability and extend the
planning horizons of
producers and processors.
The study, initiated by
Secretary of Agriculture
Earl L. Butz, was made
under the direction of Ervin
L. Peterson, Administrator
of USDA’s Agricultural
Marketing Service (AMS),
with the cooperation of
Quentin M. West, Ad
ministrator of the Economic
Research Service, and
Ronald D. Knutson, Ad
USDA Changes
Commodity Rules
Effective Sept. 30,1974, the requirements and related necessary to prevent
U. S. Department of reporting and recordkeeping misinterpretations and
Agriculture’s Commodity requirements” for futures eliminate loopholes noted
Exchange Authority (CEA) commission merchants during CEA experience over
will amend its regulations to covered by the Commodity tiie past five years under
“strengthen and clarify Exchange Act (CEAct). existing regulations,
minimum financial The amendments are Department officials said.
The change also includes a
guideline to distinguish
between accounts handled
by commission merchants
for themselves and em
ployees, or so called
proprietary accounts, and
accounts involving outside
customers. Merchants
dealing only with
proprietary accounts will be
exempt from certain
requirements under the
CEAct, such as registration.
Company
Address
—— —_J
incaster Farming. Saturday. August 24.1974
minlstrator of the Farmer
Cooperative Service.
The purpose of the study
was to describe and evaluate
self-help opportunities
available to the potato in
dustry and suggest possible
changes that might help
improve the grower
processor pricing and
delivery system. Member of
the study group held a series
of meeting* with producers,
grower organizations, and
processors in the three main
fall-crop areas-the Red
River Valley, Maine, and the
western tri-State area
(Idaho, Oregon, and
Washington).
Other recommendations in
the report are:
Producers should
strengthen t 1 eir regional
organizations such
organizations should
represent most of the
producers and have each
producer’s firm com
mitment for the marketing
of a percentage of his crop.
-Producers should work
with USDA agencies and
processors to develop an
information system for use
by growers’ bargaining
organizations and
processors.
-AMS should work with
the potato industry to
develop acceptable grade
standards to aid in ar
bitrating disagreements
involving delivery of chip
stock potatoes.
Copies of the report are
available from the In
formation Division, AMS,
USDA, Washington, D.C.
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21