Lancaster farming. (Lancaster, Pa., etc.) 1955-current, June 25, 1977, Image 17

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BEFORE YOU BUY -
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SHENK'S FARM SERVICE
S Ol E. Woods Drive Litltr, Pa. 17543 Phone 717-626-1151
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Lancaster Farming. Saturday. June 25.1977
Family farms
[Continued from Pace 1]
the corporate takeover of
agriculture has appeared on
the scene in the form of a $5O
million land investment
syndicate to buy out farmers
and then lease the land back
to them. The syndicate,
known as Western Far
mlands, , Inc., is being
established in California,
and includes a land
management company and
two investment cor
porations, one of which is
foreign based. Officials of
the group have current or
former ties with some of
California’s largest land,
banking and food cor
porations. The syndicate is
seeking investors who can
put up a minimum of $1
million each to raise between
$2O million and $5O million,
and claims it will “offer the
investor a way to participate
in the farming business
while avoiding many of the
risks...# provides current
income, potential for growth
of the investment, and
anonymity of ownership.”
The proposal has created a
storm of protest in California
among state officials who
fear that the investors may
be attempting to take ad
vantage of family fanners
who have fallen into
economic difficulties as a
result of the drought.
Malcolm MacNaughton, an
investment banker who is
involved in the formation of
the syndicate, denied that
the syndicate plans to buy
drought-stricken land, but
did concede that the drought
may put pressure on fanners
to sell all or part of their
land.
A thorough review of the
proposal has been called for
by the governor’s office and
Balanced capacity—
more productivity,
less maintenance
815/915 Combines
A big International combine answers the need to cover
more acres a day with fewer grain losses From cutting to
unloading, balanced capacity meets varying crop con
ditions Great for those extra-heavy hanging heads of
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the power to harvest at a fast pace with 144 to 162 hp
• Low profile design—go through a 12-ft door Easier
storage and transport, too
• Fast changeover to other crop headers wdh Quick-
Attach universal feeders
• Hydrostatic all-speed drive and comfort-control cabs
are standard
• Big-mouth cylinder/concave space—extra room for
crop to enter, exclusive fin and wire straw walkers
• Unload gram thru 12-m auger tube, 146 bushels in Vk
minutes
Let’s arrang e a demonstration.
USED COMBINES
• IH 101 with 10’ Grain Head
• Oliver 880 with 13' Grain Head and
4-Row Corn Head
FINANCE PUNS AVAILABLE INCLUDING
WAIVER OF FINANCE
SWOPE & BASHORE, INC.
Frystown, RDI
Myerstown, PA 17067
717-933-4138
the California State Board of
Food and Agriculture, in
addition to an examination to
be conducted by the Con
sumer Affairs Department.
Cheater Deaver, Master of
California State Grange, is a
member of the Board and
was among those who ex
pressed alarm and called for
a review of the proposal.
The matter was brought to
the attention of the U.S.
House of Representatives by
Congressman Leon Panetta
(D-Cal.), who said he had
requestal the Chairman of
the Subcommittee on Family
Farms and Rural
Development of the
Agriculture Committee to
hold hearings on the issue.
“We must place immediate
restrictions on investments
in farming by large non
agricultural businesses by
eliminating tax advantages
for non-farm investors,
prohibiting corporations
which receive assets from
activities other than farming
from directly engaging in
agricultural production, and
limiting the amount of land
owned by non-farmers,”
Panetta said. “This trend is
dangerous for not only the
family farmer, but for the
economy as a whole,” said
Panetta, and declared “it is
essential that the public be
made aware of these threats
to the basic foundation of
agriculture in this country.”
John W. Scott, Master of the
National Grange, agreed
with Congressman Panetta’s
statements and has joined
him in requesting the sub
committee chairman to hold
bearings on the' subject. The
Grange was one of the
leaders in opposing A-Land
Fund 1, a similar proposal to
buy up farm land, which was
finally dropped.
17