114
—Lancaster Fanning, Saturday, November 3,1979
Farm lenders learn economic outlook
CHICAGO, IL, - More than
900 persons from the United
States and Canada attended
the fifth annual North
American Agricultural
Lender’s Conference, at the
Chicago O’Hare Marriott
Motor Hotel
Lending institutions from
22 states and 5 Canadian
provinces were represented
HARRISBURG - “Thanks
to the personal growth of our
increasing number of
customers and to the
economic growth of the
communities we serve,
Commonwealth National
Bank is pleased to have
reached and exceeded the
one-billion-dollar mark in
total assets,” John R.
Biechler, president of
USDA clarifies
peach standards
WASHINGTON, D.C. -
Internal defects in peaches,
including broken or shat
tered pits, will affect the
grade of peaches, said Eddie
F. Kimbrell, deputy ad
ministrator for commodity
services of the Food Safety
and Quality Service, U.S.
Department of Agriculture.
A notice published in the
Federal Register is designed
to clarify before the next
growing season the
department’s position on
defects that can lower the
official U.S. grade of a
peach.
The notice states that a
broken pit is one of several
defects that can affect grade
but is not specifically listed
in the grade standards.
Other are moldlv seed
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BLUE MOUNTAIN ENTERPRISES
Rt. 72 Vz mile south of Jonestown, PA
at the meeting.
The three-day conference
was sponsored by A. 0.
Smith Harvestore.
“This annual conference
gives representatives of
agricultural credit in
stitutions and agencies
throughout North America
an opportunity to learn of
new developments in
Commonwealth hits
billion dollar mark
Commonwealth National
Bank, announced Monday.
On September 30,1979, the
bank’s consolidated assets
totaled $1,012,533,000. This
includes assets of the bank’s
wholly-owned subsidiary,
Commonwealth National
Agri-Loan Corp.
In a plan of corporate
objectives adopted in 1977,
cavity, cold damage and
sunburn.
Broken or shattered pits
will contribute toward a
lower grade to the extent
that they detract from the
appearance or eating or
shipping quality of the
peach, since the peaches
would not meet the high
quality standards required
of a U.S. No. 1 fruit. The
extent of defects from
broken or shattered pits will
be determined by sample
cuttings from peach lots.
The department’s Food
Safety and Quality Service
establishes grade standards
and provides official grading
for many food products. Use
of the standards and grading
services is voluntary.
agricultural finance,” said
Lamar Spangler, manager
of marketing finance for
Harvestore.
“fi’s also .an excellent
chance for ag lenders to take
a look at the exciting
challenges that face them in
the decade to come,” he
added.
Biechler noted that the bank
anticipated achieving the
billion dollar milestone by
late 1980. “To have reached
this milestone much earlier
is evidence of Com
monwealth National Bank’s
ability to serve the needs of
its market area,” Biechler
said.
When Commonwealth
National was formed on
December 31, 1969 through
the consolidation of
Harrisburg National Bank
and Trust Company,
Conestoga National Bank,
Lancaster, and First
National Bank of York, the
combined assets totaled
$371,638,000.
“We have nearly*tripled
our assets in 10 years,”
Biechler said. Com
monwealth National ranks
as the 163rd largest bank in
the U.S. in total deposits as
of June 30,1979, and the Uth
largest in Pennsylvania.
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Boars and sows have better footing during
breeding, compared with breeding on
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EXPANDED METAL HAS MANY
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FOR EXAMPLE;
■ Foot problems are reduced, compared with
solid concrete or concrete slat flooring.
PAUL B. ZIMMERMAN. INC.
Custom Manufacturing
Farrowing Crates - Gestation Stalls -
Vertical Bar Fencing
The Lender’s Conference
program involved presen
tations by a number of
authorities on "'agricultural
finance.
Among the speakers were
Russell Beckham, senior
loan officer, farmer
programs, for Farmer’s
Home Administration, who
spoke about guaranteed
loans, and Robert Meier,
editor of Financial Futures
Digest, who discussed
financial futures.
Other speakers were Dr.
John Marten, agricultural
economist for Farm Journal
magazine, who presented an
agricultural outlook for the
1980’s, and Orion Samuelson,
Farm Service Director for
Chicago’s WON Radio.
The broacaster described
agricultural developments
in the People’s Republic of
China based on observations
made during his recent tour
there as a member of the
Illinois Agricultural Trade
Mission.
Other speakers
represented universities,
lending institutions, and the
firm’s dealerships. Also on
the program were farmers
with extensive experience in
the effective use of credit.
The conference also
featured tours of the spon
soring company’s
manufacturing facilities at
DeKalb, IL, as well as op
tional visits to the Chicago
Board of Trade and the
Chicago Mercantile Ex
changes.
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