B2—Lancaster Farming, Saturday, February 9,1980
BALTIMORE, Mi - The
Farm Credit Banks of
Baltimore have announced
several changes in their loan
rates.
In a letter to members of
the Federal Land Bank
Association, President Gene
Swackfaamer said a two
percent bank loan closing fee
Former
BY SHEILA MILLER
BALTIMORE, Mi - The
trial date has been set for
grain dealer, Wolcott E.
Stewart, a former Univer
sity of Maryland agriculture
professor.
The trial will be held on
March 5 in Baltimore and it
will be a trial by jury for the
49 year old doctorate holder.
Alternatives to TV
watching offered
YORK - As six year old
Judy and her little brother
Greg fought all afternoon,
their mother began to
question the wisdom of
restricting their TV viewing
to half an hour a day.
Too much television isn’t
good for children, she and
her husband agreed. But the
past few days she’d yearned
for the peace and quite she
used to have while the
children watched their af
ternoon cartoons.
Judy and Greg’s parents
are not alone in their
dilemma. Like many
parents who decide to. -
control TV viewing, they
just don’t know how to
channel their children’s
activities when the TV is off
To help parents deal with
HERFSTHEOIS.
HERTS WHY ITS ASTIHL
CA htgh volume igrubon Se Hot chamber magne I.ltsbeende»gnedto
system and an efficient siumdie-castmg maxes the last at least twice as long as
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means ttll start work whole saw lighter A And by lasting twice as
when you do Every time Kiel and oil long u U really only cost
2>A no-thumbs hilly tank capacities keep you about hall as much
automatic chain oder horn navmg to rehfl one Xlt :> the best lor le*» ilmh
lets you concentrate on when there s sail plenty what vou d expect
cutting Nor oiling m the other
MTOaERE'STHC BESTPMCE AROUND TO GET IT.
STOLTZFUS AAB SALES
WOODWORK & SERVICE
M) Gap. PA ton I*3 2 MaekSauthalßt. 23 Aim(772
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WES STAUFFER NORMAN H.
SMALL ENGINES ZIMMERMAN
PO 3 EphriU. PA Myaretown, RD 2
Phone (717) 733-P174 Phone (717) Mt4C95
Ephrata E«it New Rt 222, Vi mHewettMyeratown West Mam St
Vi Mile Weeton Rt 322
Turn left unto Pleaunt Valey Rd.
FREEIjIMON^RATiON
Chain Saw • Concrete & Metal Saw Rentals
Farm Credit
will be imposed on new
money applied for by
members.
The fee became effective
February 1,
The fee does not change
existing contracts,
Swackhamer saii In the
event a farmer should
Md. ag. professor’s trial set
Stewart was arrested on
January 17 for 13 counts of
mail fraud and one count of
wire fraud.
He was apprehended by a
Maryland highway
patrolman who ran a check
on Stewart’s car, stranded
along the highway due to a
this issue, York County
home econmist, A. Joan
Lamberson, has prepared a
30-minute educational and
entertaining program,
“What To Do When the TV is
Off,” which is informative
and easy to use. The
program is available at no
charge to church groups,
civic clubs, women’s clubs
or any other interested
organization that feels this
topic would be of concern to
their membership.
All the information you
need, along with some ideas
for presenting the program
are included in the packet
For more information, write
or phone Joan A. Lamberson
at the York County Ex
tension Service Office, 112
Pleasant Acres Rd., 757-9657.
announces several loan changes
request additional funds, the
fee is not applicable to his
present loan balance.
In addition, members
were notified the interest
rate charged on the variable
rate contracts with the
Federal Land Bank are to
increase to 10.75 percent
effective March! i*)80.
gas shortage in its tank. The
check revealed a warrant for
Stewart’s arrest.
According to Inspector
Tom McClure of the Postal
Inspection Service, Stewart
is now out on bail. The bail,
set at $15,000, was paid by a
third party custody.
What this means, the in
spector explained, is that
Stewart hired a bondsman
who paid the court $l5O and
will be responsible for
Stewart’s appearance in
court $15,000 worth of
responsibility.
Stewart was charged with
using slB2jooo for his per
sonal gain rather than
paying fanners for their
grain he had sold to four
grainaries in Maryland and
Virginia, said McClure.
Between March and June
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LEWISTOWN, PA.
717-242-0776
MIFFLIN COUNTY
SNYDER COUNTY
CENTRE COUNTY
UNION COUNTY
TRI-STATE EQUIP.
HAGERSTOWN, MD.
301-7993698
WESTERN MARYLAND
“During 1979 the bank
absorbed part of the impact
of rising money costs and
marginally increased rates
in anticipation of im
provement in the money
market,” Swackhamer said.
“Unfortunately, the cost of
money has not diminished
of 1978, Stewart made
arrangements for the grain
deals through his company.
Exchange Market Traders.
Over 40 fanners were
victimized in Pennsylvania,
Maryland, and other states.
Through efforts of the
Pennsylvania Farmers’
Association and farmers in
the state, enough evidence
was accumulated to build
the case against Stewart,
noted the spokesman for the
law enforcement branch of
the Postal Service.
McClure explained that
Stewart pleaded “not guilty”
to the charges when he was
brought before a judge in
Baltimore last Friday.
Stewart will be
represented in his trial on
March 5 by David Woll, a
court appointed attorney.
Stewart stated he was
unable to afford to hire his
own lawyer, McClure said.
FOR COMPLETE DETAILS - PLANS - QUOTATIONS;
2008 HORSESHOE ROAD
LANCASTER* PA 17601
PHONE 717-394-4795
SALES: RENE PFALZGRAF (Home) 717-393-2390
SERVICE: MELVIN STOLTZFUS (Home) 717-394-4795
materially, and we remain
in an unstable domestic and
world economic en
vironment.
“Therefore, the bank finds
it necessary to adjust its
lending rate in order to
compensate for the costs of
replacing low rate maturing
bonds with higher priced
issues,” he said.
The average costs of funds
for lending by the Farm
Credit Banks in the last
quarter of 1979 was 12.67
percent.
DEAD STOCK
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PROMPTLY
ANYTIME ANYWHERE
We Charge For Distant Pickups.
A. F. BRANDT’S SONS
RENDERERS
ELIZABETHTOWN, PA
(717) 367-6026
CHAMBERSBURG, PA.
717-263-9111
FRANKLIN COUNTY
FULTON COUNTY
BEDFORD COUNTY
SOMERSET COUNTY
HAS. INC.
QUARRYVILLE, PA.
717-284-3111
EASTERN SHORE AREA
NEW JERSEY
DELAWARE
The most recent issues
were priced at 10,9 percent
and 10.95 percent and
replaced maturing bonds of
6.7 percent and 7,75 percent
The prime rate charged
best customers of com
mercial banks is 15 percent
to 15.25 percent,
Swackhamer noted.
He said the changes
resulted from factors beyond
Farm Credit’s control.
He added that favorable
downward rate and fee
adjustments will be made
when there is a sound
financial basis for such
action.
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