HARRISBURG - A $2O
million loan to help stabilize
milk marketing m the
Northeast is under
discussion between Eastern
Milk Producers Cooperative,
Inc., Cortland, New York,
and the Farmers Home
Administration, J. Fred
■■■pr
your American Banker.
Your American Bankers William Hughes Gene Richard
At American Bank, our people go nght to work for
you. Because they’re the finest crop of Agn-Business
bankers around. What makes them so special is how
often they’re out in the field serving you—discussing
concerns, understanding needs and providing solutions.
Each has a farming background so, when they come
out to see you, they speak your language.
S'nce the turn of the centuiy, American Bank has
had a special kinship with farmers and their land. Over
the years we’ve kept pace with their needs with loans
for livestock, new equipment, construction and remod-
t=r
IQU»L HOUSING
lender With over 65 offices throughout Berks Chester Montgomery Lancaster Lebanon Lehigh and Schuylkill Counties
Eastern Co-op goes to FmHA
to guarantee $2O million loan
King, FmHA Pennsylvania
State Director, announced
Thursday.
Eastern’s annual meeting
will be held this coming
Wednesday, June 4 in
Syracuse.
Under the plan which has
been submitted to the
I
The best hired hand you’re
likely to shake.
Government agency for
approval, Eastern would
finance two cheese
processing plants near the
Pennsylvania-New York
border to be leased to
Leprino Foods for the
manufacture of mozzarella
cheese.
ehng. As times and needs changed, we helped with
lines of credit and operating capital. Today, we’re still
maintaining that pace with additional financial sendees
like trusts, retirement and estate planning, and savings
and checking accounts.
Were proud of our Agri-Business people and their
farming heritage, but even more proud of the way their
banking ideas are helping you. If you’d like an Amer
ican Banker to give you a hand, just call (215) 375-
5993. You’ll get a fair shake.
Good bankers Good neighbors
American
Bank
Funding would be
arranged through the First
Pennsylvania Bank,
Philadelphia, with FmHA
guaranteeing up to 90 per
cent of the loan. FmHA is a
credit service of the U.S.
Department of Agriculture.
Eastern Milk Producers
0
represents over 4100 dairy
farm families in New
England and the Mid-
Atlantic states, including
2,000 members in Penn
sylvania. During 1978 the
cooperative marketed two
billion pounds of fluid and
manufacturing milk, but
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Lancaster Farming, Saturday, May 31,1980—A17
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absorbed losses of $3.5
million from surplus milk
supplies.
The Lepnno plants
provide a market for this
surplus production.
The plant locations are in
the Elmira, New York area
one at Horseheads and one
at Waverly, on the Penn
sylvania-New York border,
limited production is now
underway at these plants.
The FmHA-guaranteed
loan, if approved, will allow
for completion of the
processing expansion. At full
production, Leprino expects
to employ 245 persons at the
two plants and use 650
million pounds of milk per
year.
The Fanners Home Ad
ministration guarantees up
to 90 percent of loans made
by private lenders to
businesses and industries in
rural areas to strengthen
local economies and provide
jobs for rural people.
The Eastern Milk
Producers loan must be
approved by both the Penn
sylvania and New York state
offices of Farmers Home
and reviewed by the FmHA
Business and Industry
Division, Washington, D.C.,
before the guarantee can be
issued.
Tree pruning
to be shown
LANCASTER - A
demonstration on the
training and pruning of
young apple and peach trees
will be held at 7 p.m.
Thursday, June 5, at Cherry
Hill Orchards, south of New
Danville.
Marshall Ritter, Penn
State pomologist, will
conduct the demonstration
session. A question and
answer period will follow the
demonstration.
Persons attending the
session should meet at the
No. 3 farm located a half
mile south of the Long Lane -
New Danville Pike in
tersection. Parking will be
provided in the lot near the
new red poultry houses.
Heel molded counter
RIDES
EASY ON
YOUR FOOT
\
BOOKS
SHOE SERVICE
107 E STATES!.
QUARRYVILLE. PA 17566
717-786-2795
CLOSED WEDNESDAYS
RED
WING