Farming, Saturday, My 7; 1984 Farm Credit gives ’B3 report DENVER, Col. The Farm Credit System continues to provide American farmers with a reliable source of credit at a reasonable price, according to Peter J. Car ney, president of the Federal Farm Credit Banks Funding Cor poration. “It’s not an easy task,” said Carney. “On the one hand the system has a responsibility to the farmer who, due to circumstances beyond his control, finds himself in perhaps the worst financial position of his career. On the other hand,” he cautioned, “the system must be careful not to lose sight of its broader responsibility to conduct its operations in the best interests of the overall agricultural industry and the investors in Farm Credit securities.” In the recently released 1983 Report to Investors, the Farm Credit System recorded $82.0 billion in loans outstanding on December 31, 1983, to American farmers, ranchers and their cooperatives - more than any other lending institution in the country. “The money for Farm Credit loans comes primarily from the sale of Farm Credit securities to private investors in the world money and capital markets,” Carney said. Responsibility for issuing these securities belongs to the Funding Corporation, which is part of the HAY WAGONS FOR SALE 3 Sizes Available... 16’, 18'. 20’ with or without running gear * Also will fit sides onto your flat wagon Compare the Stoltzfus Woodwork Calf Hutch Lifting Hook far easy handling (Option i Rear Vent f Option ) Sturdy 2x4 construction Trented skids exterior plywood _ Lebanon County: UMBERGER'S MILL Rt 322, RDH4 Lebanon, Pa 717-867-5161 Virginia: D.J. IMPLEMENTS RO 2 Box 395 Dayton, Va. 22821 703-879-9926 STOLTZFUS WOODWORK MFD. BY: Farm Credit System. Rather than marketing directly to the public, the Funding Corporation manages a nationwide selling group of 156 dealers and dealer banks which do the actual selling. Typical in vestors include commercial banks, savings and loan associations, thrift institutions, pension and mutual funds, insurance com panies, states and municipalities, foreign banks and governments, and private individuals. While the system recognizes the importance of attracting investor dollars to meet the credit needs of its borrowers, it also is aware of the financial stress being ex perienced by farmers and ran chers across the country. As reported in the 1983 Report to Investors, beginning in late 1982 most of the 37 Farm Credit banks lowered their loan fees and reduced their interest rates more than the corresponding reduction in their own cost of funds. The objective was to reduce the ef fective interest cost to system borrowers ranchers. These planned reductions were possible because of the banks’ strong capital position. According to the 1983 Report to Investors, the planned reductions in net interest margins and loan fee income, plus a decline in loan volume growth, resulted in an Wood or Steel Simple, efficient One Sheet eyebolt and pm Galvanized c „ ndec tor Meta) Roof y Hit Out Feeder for/ easy access TRACK FOR FASTENING CALVES' CHAIN TO CEILING OF HUTCH Berks County; JOE RUTH RD #4133 Fleetwood, Pa 19522 215-944-7571 Adams County: HAROLD DEARDORFF Rt 1, Fairfield. PA 17320 717-642-8722 Maryland; LEROY HILDEBRAN Woodsboro, Md 301-845-8929 RD 2, Box 2280, Gap, PA 17527 717-442-8972 overall decline in the system’s earnings from $993.9 million in 1982 to $542.8 million in 1983. At the same time, the system continued to maintain its strong capital position with a debt to capital ratio of 8.48:1. Although earnings may decline slightly in 1984 as the system works to lessen the financial burden of troubled borrowers, the projected net in come in 1984 of the combined Farm Credit banks should not be significantly different than 1983 and the financial ratios will con tinue to be very favorable. Carney noted that “System earnings provide a financial margin that is necessary to ensure the stability of the system - a condition that is important to borrowers and investors alike. ’ ’ “It is vital,” stressed Carney, “That the Farm Credit System maintain its outstanding reputation with the investing public if it is going to continue to provide the agricultural industry with the funds it needs to operate, MILLER | Jr* 6030 Jonestown Rd. Mr Harrisburg Pa. 17112 ASSOC)ATIC,'N OF 717-545-5931 DIESEL SPECIALISTS Interstate 81 Exit 26 I DIESEL FUEL IN JECTION AND TURBO CHARGER SPECIALISTS | Locally Owned and Operated Since 1957 ] Authorized Sales & Service For; AIRESEARCH HOLSET ALERT WATER ISSPRO PYROMETERS | SEPARATORS MURPHY SWITCHES | BACHARACH TOOLS rqOSA MASTER | BENDIX ROTOMASTER ROBERT BOSCH SCHWITZER CAV-SIMMS STEWART WARNER CUMMINS GAUGES FPPF DIESEL FUEL UNITED TECHNOLOGIES PRODUCTS (Formerly American Bosch) We Also Service; IHC*Caterpillar Detroit Injectors, Blowers & Governors Daily Shipments by UPS, Parcel Post, or our representative who is in area regularly 36” or 50” high wire enclosure (Option) APPLICATIONS: • Poultry houses • Dairy bams • Milking parlors • Storage buildings • Greenhouses • Office areas • Confinement buildings COMPLETE SYSTEMS, EQUIPMENT, SALES. INSTALLATION, SERVICE FOR CATTLE, HOG, POULTRY AND GRAIN AGRI' 2754 Creek Hill Road, Leola, PA 17540 (Lancaster County) (717) 656-4151 in good times and in bad, at the lowest possible cost.” The Funding Corporation issued $90.6 billion of Farm Credit securities in 1983 to meet the credit needs of the system’s borrowers. This amount makes the Farm Credit System second only to the U.S. Treasury in terms of the volume of securities issued. Camey pointed out that these securities are the obligations of the Farm Credit banks and are not guaranteed by the Federal Government. “They are backed, instead, by the strength of American agriculture and the strong financial condition of the Farm Credit System. ” The Farm Credit System is a nationwide agricultural financial • Livestock buildings • Processing plants • Warehouses • Machine shops • Homes • Churches EQUIPMENT,me Farm Credit News orga borrower-owned financial r stitutions orgainizeo cooperatives. The system is made up of 12 Federal Land Banks which make long-term loans through Federal Land Bank Associations; 12 Federal Intermediate Credit Banks, which provide short- and intermediate- term credit to Production Credit Associations and other qualified institutions serving agricultural producers; and 13 Banks for Cooperatives which make loans to agricultural, aquatic and rural electric cooperatives. The Banks for Cooperatives also provide export financing for exporting cooperatives. i % Poultry Buildings Barns - Disinfecting Fly Spraying Dairy Whitewashing 6 & 6 HIGH PRESSURE (AGRICULTURAL HIGH PRESSURE WASHING) Barry Garber 367-3649 HELPS TO HEAT . IN WINTER! HELPS TO COOL IN SUMMER! Fan carries a five-year warranty and features: • Sealed chrome steel ball bearings • Totally enclosed motor, special moisture resistant sihcone treated • No maintenance • Displaces 24,000 cubic feet of air per minute (CFM) • Solid state infinite speed controls • Uses less energy than 40W bulb at low speed • 15 amp circuit runs up to 13 fans • Easy installation, )ust mount and plug in 32" cord Completely assembled (except blades) • All metal construction 60" diameter blade sweep • Effective up to 60 ft ceiling height • Aerodynamically designed blades for max imum air delivery • Down rods available in 10" lengths • Fans and controls are warranteed to be free from defects in materials and work manship at the time of shipment from the factory and for a period of five years STORE HOURS: Mon.-Fri. 7:30 to 4:30; Sat. 7:30 to 11:30 t consisting of reliable thorough largest equipment no road charge (Parts Only)
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