B26—Lancaster Fanning, Saturday, October 9,1982 WASHINGTON, D.C. - Interest rates on most loan programs at the U.S. Department of Agriculture’s Farmers Home Administration went down Oct. 1, reported Secretary of Agriculture John R. Block. Block said the reductions, which were as much as a full percentage point for farm operating loans and market rate community facilities loans, reflect progress in the nation’s drive to roll back in flationary interest rates. Reductions will apply to farm, community and rural housing loans made by the rural credit agency. The reductions are a result of legislation that calls for the USDA agency’s interest rates to parallel those in other key sectors of the money market. “We are able to lower our in terest rates because the cost of money to the U.S. Treasury has been down in recent months and Cut conservation costs HARRISBURG —Soil loss by erosion costs agricultural producers money, reminds Joel Myers of the Soil Conservation Service in Dauphin County. Myers says both direct and indirect losses are in volved. Direct losses, he explains, include the value of the lost soil as well as lost spray materials, lime, fer tilizer and organic matter. A 15-ton soil loss, average for land farmed in continuous row crops, results in a loss of $75 when calculating the loss of $5 per ton, stresses Myers. Estimates also show that $22 worth of spray materials, lime, fer tilizer and organic matter are lost, for a total of $97. Indirect losses include the reduction of yields due to losses of spray materials and fertilizer. “The loss of potential production by the reduction in depth of top soil, in many instances shallow, has already reduced soil depth,” add Myers. Myers notes “com mon” conservation practices help retain rainfall and increase soil moisture, specifically contouring, stripcropping, terraces, crop residue utilization, winter cover crops and conservation tillage. “At a time when conservation is so badly needed, it is unfortunate that farm income is down and government assistance is also being reduced,” says Myers. He pledges one- of the 1983 goals of SCS is to accomplish more conservation work at less total cost. “This means utilizing such equipment as the new terrace plow, farm tractors and plows, and other equipment, while making the best use of the currently available heavy earth moving equipment,” Myers says. USDA lowers FmHA’s the average yield for municipal bonds also has been lower,” said Charles W. Shuman, Farmers Home administrator. In farmer programs, the interest rate for farm operating loans is reduced from 14.25 percent to 13.25 percent. For long-term farm loans, such as farm ownership, soil and water, recreation, grazing associations, irrigation and drainage and Indian .land acquisition, the rate declines from 13.25 percent to 13 percent. For limited resource borrowers, operating loan rates drop from 11.25 percent to 10.25 percent and farm ownership loans move downward slightly, from 6.625 percent to 6.5 percent.' In the emergency loan program, the rate drops from 17 percent to 16.25 percent on actual loss loans for disasters occurring after Oct. 1 to applicants who can obtain credit from other sources but choose to borrow from the agency. For ftf NEW IDEA Hi dunirnn HdRVBT Nl 243 (250 Bu.) MANURE SPREADER f Single Axle, Single Beater w/Used 9.00-20 Tires... price *3550 Optional: Hydraulic End Gate - 5670 Upper Beater -5370 Nl 243 (250 Bu.) MANURE SPREADER Tandem Axle, Single Beater w/New IIL-15Tires. fSL *4200 Optional: Hydraulic End Gate - $670 Upper Beater-$370 Ml 1500 GALLON VACUUM TANK SPREADER JUST N.l. 709 UNB-TRACTOR TRADED! with Rear Wheel Assist USED UNI EQUIPMENT... (i) 702 Diesel Tractor w/ (i) 729-A Shelter (2) 766 PtekupS SwmSo.m* «So„ c r nhcad <4 Ro " 713\ I Gr F^ d Head H ° USe & <D 723 Cornhead (2 Row) nnS u?? * (1) 729 Shelter (As Is) (1) 767 Forage Harvester 726 Shelter fAs Isl (1) 710 Combine w/711 Grain K ) { } Head SHARTLESVILLE FARM SERVICE RD 1, Hamburg, PA borrowers unable to obtain credit from other lenders, actual loss loans will continue to be made at 8 percent. For borrowers eligible for continued annual production loans, the rate goes down from 16 percent to 15.5 percent. Under the agency’s housing programs, the interest rate drops from 13.5 percent to' 13.125 per cent for single family holtsing, rural rental housing and housing site loans. ' The rate for housing loans to above-moderate-income borrowe rs (and moderate-income borrowers who can afford Housing and Urban Development Depart ment rates) was lowered from 15 percent to 14 percent on Sept. 20. For community facility and water and waste disposal loans, the full interest rate drops from 11.625 to 10.625 percent. This rate is based on current market yields for ( * Slit jP'llr - 'J "?.■!*: r ■ .. f.:± -j With Rear Door ™le *5395 Ni 621 (57" Fan) FORAGE BLOWER prke *1595 NI 622 (60" Fan) FORAGE BLOWER PRICE *1695 H. Daniel Wenger, Prop. 215-488-1025 interest rates municipal obligations. The in termediate rate, for communities of moderately less than average means, declines from 8.375 percent to 7.875 percent. The rate for lower income communities remains unchanged at 5 percent. Shuman said the intermediate rate recently introduced by the USDA agency “will keep credit resources alive for many com munities that need public facility improvements to create job op portunities or maintain present employment.” Guaranteed loans for business and' industrial development con tinue to be negotiated between borrowers and lenders. Loans made by Farmers Home for small scale biomass energy projects will be made at 13 percent instead of the previous rate of 13.25 percent. Farmers Home Administration is the rural credit agency of the US. Department of Agriculture. It makes a wide variety of loans and grants and provides technical assistance to help improve economic and living conditions in rural America. Services of the agency are delivered through a system of nearly 2,000 county • offices, 300 district offices and 46 state, offices covering rural areas throughout the nation. NEED SOMEONE WHO CAN FILL THE SHOES? Try A Help Wanted Ad In Classified. . Phone: 717-394-3047 or 717-626-’ ’ '4
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