DAIRY
nr day
AT NEW HOLLAND SALES STABLES, INC.
New Holland, PA
If you need 1 cow or a truck load, we have from
100 to 200 cows to sell every week at your price.
Mostly fresh and close springing Holstems
Cows from local farmers and our regular
shippers including Marvin Eshleman, Glenn Fite,
Gordon Fritz, Blaine Hotter, Dale Hostetter, H D
Matz, and Jerry Miller
SALE STARTS 12:30 SHARP
Also Every Wednesday, Hay, Straw A
Ear Corn Sale 12:00 Noon.
All Dairy Cows & Heifers must be
eligible for Pennsylvania Health Charts.
For arrangements for special sales or herd
dispersals at our barn or on your farm, contact
Abram Diffenbach, Mgr.
717-354-4341
Norman Kolb
C *S 717 3975538 X^ V
stealing your milk.
■ , v
Worms
I
Land Fund attack
WASHINGTON, D. C., A proposed fund to invest in
agricultural land poses a major threat to the nation’s far
mers, Harold B. Steele, Illinois Farm Bureau president, told
a House Agriculture Subcommittee hearing here last week.
The Ag-Land Fund proposed by Continental Illinois
National Bank and Trust Company of Chicago “could be the
first step toward large scale ownership of farm properties by
powerful financial interests,” Steele told the subcommittee
on family farms and rural development.
Steele, a member of the American Farm Bureau
Federation board of directors, testified on behalf of the
national organization. The subcommittee is examining
implications to family farms of the Ag-Land Fund, an in
vestment trust to purchase and manage farmland.
“Farmers are extremely apprehensive” about the
proposal, Steele said, feeling that it “would change the
pattern of farmland ownership in this country from local
ownership by private individuals or small groups of in
dividuals to absentee ownership by financial institutions or
large corporations.”
The Farm Bureau spokesman pointed out that “most of our
agricultural production comes from family farms where the
bulk of labor and management is provided by the farmer and
his family.”
are
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Worms can cost you money
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ust topdress on feed for six days
the full BAYMIX story from your animal
th dealer
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BAYMIX
r , *S**K*VB
CUTTER ANIMAL HEALTH
BAYVET Division of Cutter Laboratories Inc
P 0 Box 390 Shawnee Kansas 66201
Pride of ownership threatened
AFBF joins Ag
The “Dollars
fc* Sense”
dairy wormer.
Lancaster Farming, Saturday, March 5,1977
Steele said the Ag-Land Fund concept “overlooks a key
ingredient in the success story of American agriculture, the
pride of ownership. Pride cannot be written into a balance
sheet or a profit-loss statement, but pride of ownership is a
key element in the basic tradition of family farms in this
country. This tradition should be continued.
“The proposed Ag-Land Fund would adversely increase
land values which have escalated rapidly in recent years as
farmers and others have competed for available land,”
Steele said. “Not only would the fund’s farmland purchases
tend to raise land values, but it would also tend to raise the
level of real estate taxes which are based on land values. ”
Steele said there is a basic unfairness in allowing tax
exempt organizations to compete with taxpaying farmers.
“There is no reason why the favorable treatment given to
pension trusts under the tax laws should extend to trusts
which compete with individual farmers in farming
operations.” Under the proposed plan, the Ag-Land Fund
could receive gains from the purchase and sale of land,
rentals, and profits from its hedging operations without
having to pay tax on this income.
While the Chicago bank has indicated its plan would en
courage the entry of young people into agriculture, it is
doubtful whether the proposed fund would provide much
assistance to young fanners. “We do not believe that the
trust company of the bank will entrust farming operations of
the magnitude under consideration to relatively inex
perienced farmers,” Steele commented.
Steele said the proposal raises an important public policy
question: “Who will control American agriculture in the
future?”
The “family farm” concept has been a highly productive
and efficient system of food production, he said.
“It is no accident that the American farmers are able to
provide consumers at home with ample supplies of food at
reasonable prices and at the same time produce more than
$22 billion worth of products for sale abroad.
“Such a production system should not be abandoned lightly
or allowed to be replaced piecemeal because we do not have a
national policy on ownership and control of agricultural
land.”
The Farm Bureau spokesman urged the subcommittee to
(1) cause an in-depth study to be made of the current
ownership of agricultural land, (2) take such action as may
be necessary to prevent the implementation of the proposed
Ag-Land Fund or similar plans, (3) conduct fact-finding
studies to develop a national policy on who should control
a icultural land and agriculture, and (4) in the event the
Internal Revenue Service provides a favorable ruling to the
bank’s request, consider legislation to make the rents
received by the Ag-Land Fund and similar trusts, as well as
other gains and earnings, taxable to the fund upon receint.
| YES lam interested in obtaining more information |
NAME
ADDRESS
CITY
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GERMAN BROTHERS DISTRS.
7 15<7i *
i—
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