ASS— Lancaster Farming, Saturday, June 28,1980 Agway, H.P. Hood deal BY CURT HAULER SYRACUSE, N.Y. - On Tuesday the board of directors of Agway Cooperative agreed to make a tender offer for about 70 percent of the shares of H.P. Hood common stock. But the expected sale of Hood assets to the new Agri- Mark Co-op was stalled Thursday pending resolution of financial and contractual questions, according to Hood Vice President Robert Cushman Also delaying proceedings is word that the U.S Justice Department plans to bring legal action against the formation of the proposed giant New England dairy co op. None of the parties had received a copy of the Justice Department com plaint as of Fnday Poultry improvement meeting scheduled WASHINGTON, D.C. - The General Conference Committee of the national poultry im provement plan will meet July 7 to 10 at the Fairmont Hotel in New Orleans, La., to consider 32 proposals af fecting poultry producers, a coordinating official with the U S Department of Agriculture said today. Ray Schar, senior national poultry improvement plan coordinator with USDA’s Animal and Plant Health Inspection Service, said the committee meeting will be an integral part of the 25th bienmel NPIP conference The seven-member com mittee is elected by the NPIP conference delegates, who represent poultry in dustry participants in each state “The NPIP conference and the committee have provided significant advice to USDA on the procedures, policies and regulations needed to implement the An Agn-Mark-Yankee spokesman said everything is in a holding pattern The targed date for completion of the package deal was to be July 1 The Agway stock purchase will give Agway controlling interest of the voting shares of the Hood company Purchase of the Hood stock by Agway also is pending positive conclusion of studies presently being conducted by the U S Department of Justice The general plan for formation of the new marketing co-op, Agri-Mark, is to have Agway buy Hood’s voting stock. Meanwhile, the current Yankee Co-op stock is turned over to the newly formed Agri-Mark Co-op Yankee goes out of existence Agri-Mark, in turn, buys for July 7-10 national poultry im provement plan ever since its inception in 1935,” Schar said. The 32 proposals to be considered at this year’s meeting range from procedural matters to changes in laboratory testing requirements and regulations for the shipment of hatching eggs and baby poultry There will also be a program proposed for control of Mycoplasma meleagndis, an egg transmitted disease of turkeys, Shar said me fixed assets oi , lu Agri-Mark then will lease the plants and equipment back to Hood Hood agrees to buy all of its milk from Agri- Mark Hood continues to sell under its own name Agway will have little involvement with Agri-Mark except for owning con trolling interest in Hood. But farmers would have control of Agri-Mark both through the Agri-Mark Co-op itself and through Agway’s board voting the Hood stock The price Agway will pay for the Hood stock is about $43 per share Agway said the recent suspension of patronage dividends to all of its members has nothing to do with the current dairy dealings in New England Agway said the dividend was suspended to allow the Proposals will be discussed in general session, reviewed by subcommittees, and voted on by the full conference. The general conference committee will then review the conference recommendations, iron out discrepancies, and make final recommendations to USDA. Conference delegates represent four major poultry breeding groups egg-type chickens (layers); meat type chickens (broilers), turkeys, and waterfowl. stalled by Justice Dept. Co-op to build i eserves in the present inflationary period Agway said it expects to borrow all the funds for the purchase of Hood stock, probably through the Bank for Cooperatives The purchase of the Hood stock is pending, subject to positive conclusion of studies being conducted by the U S Department of Justice In the meantime, Agri- Mark, Inc has been actively engaged for several weeks in signing up New England farmers to join the new cooperative The Agri-Mark shippers will pay 94 cents per hun dredweight to buy the physical assets of H P Hood Agway said it was notified by Agri-Mark on Tuesday, June 24, that the amount of milk in pounds of annual production committed to Agn-Mark is approaching the previously reported goal of three billion pounds RN. Goddard, executive vice president and chief executive officer of Agway, said contingencies to the Agway offer to purchase H P Hood included the need for a sufficient amount of milk to assure successful operation of the system, as | ll II I Historic Coin Offer t L&a INDIAN HEADS THE LIBERTY BUFFALO and THE JEFFERSON SILVER ...for Savers Indian Penny Set (set of 3) Like the real American Indian this beautifully designed coin has now faded from our national panorama First introduced in 1859 the last Indian Penny was minted in 1909 which makes them one of the rarest of American coins Its value has been increasing steadily and will continue to do so This set all three with different dates makes a perfect gift of historic investment and esthetic value Obsolete Nickel Set (set of 5} From 1883 until 1912 the Liberty or V Nickel held reign In 1913 the Indian Head or Buffalo Nickel be came the five cent piece for our country A design change in 1938 gave us the Jefferson Nickel From 1942 to 1945 with nickel being necessary for the war effort the Jefferson Nickel was made out of silver Here in one set do you find thesr three ypes of nickels no longer baing minted Liberty in attractive displiy case A genuine piece of rz Americana well as the committment of due in part to the out- New England Farmers standing job done by the “We believe these con- field teams,” Goddard tingencies have been met, concluded ' SANDBLASTING REPAINTING WATERPROOFING From repairing drafy, leaking walls to complete stucco removal and repointing, exterior restoration of farmhouses is my specialty! 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