—Uncasttr fanning, Saturday, April 1,1978
16
Representing the Production Credit and Federal Land Bank Associations of
York County at the annual conference held recently in Hershey were (left to
right, front row) Mr. and Mrs. Samuel W. Musser, Sr.; H. Richard Zook; and Mr.
and Mrs. Robert E. Stover. Second row: Mr. and Mrs. George H. Wolf; Mr. and
Mrs. Richard K. Smyser; Mr. and Mrs. Norman G. Blocher, and Mr. and Mrs.
Horace H. Waybright. Third row: Mr. and Mrs. Roy K. Lehman; Mr. and Mrs. J.
Maynard Weary; Mr. and Mrs. Marlin E. Miller; Mr. and Mrs. Rolla E. Lehman, II;
and Mr. and Mrs. R. Eugene Blevins.
Credit Banks meeting encouraging
HERSHEY - In the midst
of months of gloomy news
about agriculture, some
encouraging signs were
revealed at the annual
conference of the Farm
Credit Banks of Baltimore
held recently .in Hershey.
Representing the
Production Credit and
Federal LanU Bank
Associations of York atthat
conference were directors? R.
Eugene Blevins, Norman G.
Blocher, Holla E. Lehman,
n, Roy K. Lehman, Marlin
E. Miller, Samuel W.
Musser, Sr., Richard K.
Smyser, Horace H.
Waybright, J. Maynard
Weary, and George H. Wolf.
Ail three consolidated
Farm Credit Banks in the
Baltimore District com
pleted profitable years. The
Federal Land Bank, The
Federal Intermediate Credit
Bank, and the Bank for
Cooperatives totaled over 11
million dollars in net ear
nings for 1977.
The three banks, covering
Pennsylvania, West
Virginia, Maryland,
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Delaware, Virginia and
Puerto Rico, now have over
$1.5 billion in loans out
standing.
Although in recent months
national news has focused on
the plight of farmers, the
Baltimore banks’ report
reflects a continued sound
financial base for
agriculture in this area.
In his message, president
of the banks, Gene L.
Swachkhamer, observed
that, “Although some
commodity prices have
declined significantly,
certain areas of our district
suffered severe drought and
farm incomes have fallen,
the quality of our credit
remains good.”
Swackhamer also said that
the numbers of foreclosure
and bankruptcies remain
low. He said, “Farmers are
exercising reasonable
caution in die face of rising
costs and slower ap
preciation in land values. ”
Most of the delegates
agreed that the strong
showing of their banks was a
good sign for agriculture,
but no one was ready to
minimize the many
problems facing the nation’s
largest industry.
Helping the delegates
focus on “the opportunities
and difficulties facing far
mers and their
cooperatives” were ex-
Secretary of agriculture
Earl Butz, Irving R. Levin
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from NBC News, and the
Secretaries of Agriculture
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Representing Pennsylvania
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Kent D. Shelhamer.
The PCA and FLBA of
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