I WASHINGTON, D.C. - The Senate Committee on Agriculture, Nutation, and Forestry recently approved legislation broadening the lending authority and giving greater flexibility to the Farm Credit System; the major credit source for U.S. farmers. The legislation is the first major revision of the Farm Credit System since 1971. The System provides about a third of the credit needs of American agriculture—inc luding individual farmers and rural cooperatives— with an annual loan volume of more than $5O billion. The System, which is organized as cooperatives and receives no tax funding, includes the Federal Land Banks, which make long term farm real estate loans; the Federal Intermediate Credit Banks, which make intermediate-term operating loans thrugh Production my aquai sale I. I COAL/WOOD STOVES I Is Your Property I I If you’ve been thinking of buying a stove but have been holding out because of the economy, think H immune H fast! Weareclearingourwarehouseofoverhalfour 1979 stock in what must be the largest coal/wood H ■ stove sale of its kind in Southeastern Pennsylvania. We are offering over $60,000 worth of stoves at ■ f rOITI A t tCICIC * ■ prices we guarantee no one will be able to repeat in the 1980 heating season. Because these sale ■ B • H items will move quickly we suggest you call or visit our store as soon as possible and place your order. ■ ■ ■ ■ Sale tort* list Salt Water II >| ■ j Saw Met Puce Arailatle Saw Price met ImM l|M|||l[ff||)| E^N^^^N H Fisher Stoves Grandpa Bear H H Fireplace (Old style aeluxe) $l5O $649 5499 1 c . „ . H ■ Fisher Deluxe fireplace Insert 150 759 650 1 J'lqr(bS ■ *RT» •m H Fisher Papa Bear Stove 100 549 449 2 _ * 50 %W% C *> , D 240 864 624 3 ■ IOrWMiOC ■ Fisher Grandpa Bear Fireplace 100 649 549 2 #s2o Bamnlt 200 1080 880 2 I Utlli/ ■ All Night Stoves Little Moe Std 102 487 385 4 Seudiac #520 Baronet 200 1080 880 2 ■ / I Sll Kllht Big iKSstd 100 647 547 4 T^splay^odel) 6 300 789 489 1 I EHRLICH PEST CONTROL • SINCE 1928 \S ■ All Nifht Chubby Moe Coal Stove 200 795 595 5 Vermont Woodstove DDIIIa 100 659 559 3 ■ “CALLUS” 397-3721 1278LoopRd„ Lancaster, PA ■ MorsoCast Iron stoves #1125 Stony Run Stoves 100 395 295 3 ■ ■ Fireplace Stove (Green) 161 860 699 1 Valley Comfort RB 3 Furnaces , ■ ■ Morso #1122 fireplace (Green „ (3 ft jT n 8 , C f 200 1108 908 3 ■ ' ' ■ Morso'#2BoSk arch stove 145 495 ' "S 215 650 435 2 ■ WE MANUFACTURE I Mori»SWx stove 630 495 1 tTs J I HIGH PRESSURE WASHERS I S&r 100 456 356 1 Koppein'e stove #i 100 569 469 1 I Portable or Stationary ■ u S |ddi S 8 220 689 469 1 stove) 295 1354 1059 1 ■ I JOtU place B stove Bnamel ,lrB 225 1100 875 1 Caw^ v b ® May 400(cast iron 50 599 549 5 I I McmHeat Fireplace Stove 300 575 270 4 stove) 75 849 774 7 II I (display, 230 825 595 1 jassoUmvers^l\ToO% C cast r ° n) ?5 474 2 I ■ 2OO 976 776 1 U 3(wood coal) 150 1695 1545 3 ■ ■ Upland 207 Fireplace Stove 184 679 495 1 2295 2145 3 I ? ' I Wy ™Jj d fireplace stove (cast g 2OO 5?5 315 2 I | CONSTRUCTEDWITH I These prices are limited only to the stock items listed All stove orders must be paid m full and picked up by Sat., May 31. H Detergents or Soap Fluid Injection Available H 1980, last day of sale All sales are final H m I I WE ALSO MANUFACTURE I ...... nno>mir«T ■ uiee \ Entering our sth year in ■ • Custom Built Hog, Cattle Gates and Head Gates to your ■ ( SEE OUR NEW PRODUCT LINES \ busines c we are conven- ■ specf.cat.ons I FOR THIS SEASON: iently located 20 minutes | * Coal Fired Bucket-A-Day Stoves I Deville wood/coal parlor stoves, Comforter, f rom Allentown and Reading I ir - u,-hi n . # wnri, <•, ■ Trituhler add-on Broilers, Northern Comfort on Rt 2 22, only 5 miles ■ Ifc® wE!* . ■ and Old Mill coal stoves and others. Over 60 South of interstate 22 at I HS/ FarmSlies | on display. j 168 W. Main St, Kutztown, I Hardware I I ★ New & Used Structural Pipe ■ <,l \T Wn S 7, TT 77. I \ ■ WE SUPPLY DIESELS AND ■ ( wood/coal stoves, boiler systems, \ ■ mount on farm equipment I STOVES $P| . I D.slwcii’siiop I 168 W, Mam Street V. 5 iSaS J I 3816 e Newport rd rdigordonville pa .7 5 » ■ Kutztown. Pa. 19530 / ■ 1 Mile East of Intercourse on Rt 772 ■ ■ Write or Try and Call 717-768-8569 (Outside Phone) Dealer Inquiries Senate Ag Committee approves changes Credit Associations; and Banks for Cooperatives, which lend to farmer cooperatives. The bill would lower to 60 percent the minimum membership of a cooperative who must be farmers to be eligible to borrow from Banks for Cooperatives. The current farmer-member minimum is 80 percent, except for rural electric and telephone co-ops where the requirement is 70 percent. Another major provision of the bill would permit Federal Land Banks to make loans for more than 85 percent but not greater than 100 percent of the appraised value of farm real estate when these loans are guaranteed by a Federal agency, such as Farmers Home Administration, or by a State Government. The bill would also broaden the authority of in Farm Credit Federal Land Banks and Production Credit Associations to finance processing and marketing activities and facilities directly related to an agricultural or aquatic producer’s operations and those of other bona fide producers. Such loans could be made if the applicant’s operation supplies at least 20 percent of the quantity of the commodity to be processed or marketed. In a major new authority for the Farm Credit System, the bill would authorize Banks for Cooperatives to finance agricultural export transactions in which U.S. cooperatives are major beneficiaries. ' Banks for Cooperatives would be permitted to make deposists in foreign banks, receive and hold credit balances from banks and borrowers, buy and sell bankers acceptances, b time drafts payable by foreign buyers of farm products, take part m currency exchange and make loans to facilitate transactions of borrowing cooperatives. The bill would also authorize Farm Credit System banks and associations to sell to their members, on an optional basis, certain types of in surance, including credit life and disability insurance m amounts necessary to cover loan commitments and multiple-peril crop and livestock insurance. The bill would expand aquatic financing by the Farm Credit System by allowing Federal Land Banks to make long-term loans to producers and harvesters of aquatic products. It also would clarify that cooperatives solely engaged in furnishing itic business services Lancaster Famine, Saturday, May 17,1980-013 are eligible to borrow from Banks for Cooperatives. Another provision would encourage cooperation between Farm Credit System institutions and commercial banks by authorizing Federal Land Banks to participate in loans with lenders outside the FCA names Madero to general counsel WASHINGTON, D.C. - Frederick R. Medero, currently the director of the securities disclosure division, Office of the Comptroller of the Currency, will become general counsel for the Farm Credit Ad ministration on June 2. The FCA is the in dependent Federal agency that supervises, examines, and regulates the Farm Credit System, whose 37 banks and 930 associations last year served nearly a million farmery and ran System and by authorizing Production Credit Associations to issue par ticipation certificates to commercial bankers and other lenders. This would streamline a program under which PCAs participate in farm loans originated by commercial banks. chers and 3,500 cooperatives with $6O billion in credit. In making the an nouncement, FCA Governor Donald E. Wilkinson said Medero would direct the Office of the General Counsel in performing legal services for the Federal Farm Credit Board, the governor and members of the FCA staff. He also will consult with and coordinate the work of attorneys em ployed by the Farm Credit Banks.
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