Doris Thomas Completes
Environmental Training
Mrs. Doris W. Thomas,
Extension Home Economist,
recently completed a two
year environmental un
derstanding training
program conducted by The
Pennsylvania State
University’s College of
Agriculture.
“The program consisted of
five weeks of intensive
training in the areas of waste
management, pest and
pesticide management,
water quality and
management, air quality
and energy, and program
development and land use,”
said Dr. Millford E. Hed
dleson, College of
Agriculture coordinator of
environmental quality af
fairs.
Before you buy
any farm loader,
see a Bobcat in action!
It s no accident that Melroe s Bobcat is the world s
most popular farm loader For almost 20 years
these powerful little loaders have been taking the
backbreaking time-consuming labor out of dozens
of farm jobs Four Bobcat models all with 4-wheel
drive pivot turning agility and a big assortment of
special job attachments give farmers a wide range
of applications and power options Fitted with the
exclusive Bob-Tach Bobcat becomes a quick
change specialist in scores of indoor-outdoor
year-round jobs Almost anyone can learn to op
erate a Bobcat in 15 minutes And it s economical
to maintain We d like to show you right on your
farm how great a compact loader can be Give us
a call While we re demonstrating we II show you
how it s easier than ever to own or lease a Bobcat
Dr. Heddleson points out
that Mrs. Thomas was
trained primarily to
recognize potentials or
limitations in resource
management principles and
to evaluate alternate ap
proaches to solve en
vironmental problems.
She also will be in position
to provide assistance with
current University
programs, help train or
instruct other Extension
staff members, and establish
new county or area Ex
tension programs in en
vironmental improvement.
Mrs. Thomas is one of 35
persons in the state who
received this special
training.
MELROE
BOBCAT
WORLDS MOST POPULAR
SKID STEER LOADER
Real Estate Leads
Rise in Farm Assets
Spurred by a 25-porccnt jump in
farm real estate value, the value of
farm assets posted a record SOS-bil
lion gain from 1973 to the start of
this year.
On January 1, 1974, farm assets
totaled $478.8 billion, up 24 percent
from a year earlier. This increase
was almost double the 13-percent rise
in 1972 and 3 times the growth rate
in 1971.
More than two-thirds of the in
crease in total assets —nearly $65
billion—was due to the record-setting
rise in real estate value. Average
farmland values jumped from $247
per acre at the beginning of 1973 to
$3lO at the start of 1974. This in
crease was more than the total gain
in real estate value for the years
1969-72 combined.
Economists attributed the boost
mainly to unusually high commodity
prices and record high net farm in
come last year, as well as to buyer
optimism over the long-term outlook
for farm income. In addition, some
investors apparently shifted funds
into farm real estate as a hedge
against the rapid rate of inflation in
the general economy.
While real estate was the major
force driving farm asset values up,
higher prices for livestock, stored
crops, and farm machinery pushed
their values to record levels as well.
Farm debt also chalked up a siz
able increase in 1973, but lagged be
hind growth in assets. Total farm
debt at the beginning of 1974 was
$84.1 billion, more than 12 percent
higher than a year earlier. Both long
term farm mortgage debt and short
term non-real estate loans for ma
chinery, motor vehicles, and livestock
shared in the increase.
However, Commodity Credit Cor
poration loans declined sharply with
the change in farm programs to $0.7
NOW IS THE TIME
TO SAVE DOLLARS
INSTALL A
Furnace Fuel Saver
On Your Present OH Heating Unit.
Cut the high cost of heating 10 to 30%.
CONTACT
KELMANADA, INC.
- RDI, Box 4210, Grantville, Pa.
Phone 717-469-2864
Some Dealerships Available
ROBERT GUTSHALL
(717) 933-4616
Lancaster Pipe &
distributors
Acorn unloaders
bunk feeders
tube feeders
generators
chute hoppers
Self Unloading Silage CX Model 2414), 24” impeller
Cattle and hog feeders Model 2012,19" impeller
Automatic roller mills Model 3013,27” impeller
Lancaster Farming, Saturday, Nov. 23,1974
billion—down from $l.B billion at the
start of 1973.
Interest charges of a little over $5
billion on the total debt were 18 per
cent above 1972, reflecting stronger
demand for credit as well as higher
interest rates.
The more rapid growth in assets
caused the farm debt-to-asset ratio
to fall to 17.6 percent at the start of
this year—a sharp drop from the
19.4 percent ratio in 1973. This
marked the second consecutive de
crease since the ratio began a steady
climb in 1958.
The larger gain in assets also
showed up in a hefty $82.8 billion
boost in equity owned by farm pro
prietors during the past year. This in
crease far outstripped equity growth
in any other single year.
Total equity of $394.7 billion in
January 1974 was greater than the
value of all farm assets just a year
earlier. About three-quarters of the
advance was due to growth in farm
real estate equity.
Returns to equity in farm produc
tion assets mounted from 4.7 percent
in 1972 to 10.9 percent in 1973, re
flecting the faster rate of increase in
gross farm income than in produc
tion expenses.
On the whole, the major farm asset
items have maintained about the
same relative importance since 1940.
With few exceptions, farm real estate
value has accounted for roughly two
thirds of total assets.
Other physical assets, such as crops
and livestock, farm machinery, motor
vehicles, and household equipment,
usually make up about one-fourth of
the total asset value, with financial
assets accounting for the remainder.
A $2.1-billion gain in value of
physical assets other than real estate
and a $0.3-billion increase in farm
land value in constant prices was
largely offset by a $l.B-billion decline
in the purchasing power of financial
assets.
In recent years, a large chunk of
the growth in farm asset value can
be attributed to price increases. From
1967 to 1974, for example, the value
of farm assets in current prices rose
$210.7 billion. Of that amount, $202.1
billion, or 96 percent, was due solely
to rising prices.
BEDFORD COUNTY, PENNA.
208 ACRES
In beautiful valley, on U.S. Highway, 13 miles
from Pa. Turnpike.
Property has two dwellings, many other large
buildings and barns.
Making it ideal for any type livestock, other
agriculture, industry or recreation.
FINANCING AVAILABLE
PHONE (Evening Only)
814-623-9223
New Negiey-Miller Siios
silo blowers
conveyors
barn cleaners
calf stalls
free stalls
cow mats
barn fans
Ritchie water fountains
47