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.