Farm Credit Sees Black Ink BY 808 MILLER Farm Writer What a difference a couple of years can make! Following its record losses in the wake of the agricultural depression, the Farm Credit System has battled back, redesigned itself and become pro fitable again. Although Farm Credit directors are quick to point out that there is still a way to go, the revitalized System’s economic strength is good news for all farmers and ranchers in rural America, since the recovery has fostered increased competition among ag lenders, benefitting all borrowers. Just how far the System has come is seen in 1988’s net income of $704 million, compared to a combined three-year loss of $4.8 billion for 1985-1987. The upward trend continued in the first quarter this year, with net income of $176 million, up $ll million from the same period a year ago. According to Sam Eberly, chairman of the Farm Credit Cor poration of America, the agricul ture sector is in much sounder shape than it was two or three years ago. “Improved economic conditions have made it easier for most farmers to pay on their debts, THE CHOICE IS YOURS: ♦ One day worming ♦ With Rumatei* f • Made Mthl6% Grain Mk ♦ Ho milk throw-away ♦ Broad spectrum warmer ♦ Most economical ♦ Six day worming ♦ With coumaphos ♦ Made with 16% grain mix ♦ No milk throw-away WORMING PAYS...AND THE PRODUCT CHOICE IS YOURS! Ask your Hess Mills Farm Consultant for special pricing in effect now! 6 S. Vintage Rd. Paradise. PA 17562 (717)442-4183 (717)768-3301 which in turn has helped turn our banks and associations around,” he said. “The health of the System reflects the health of agriculture,” Eberly noted. “When times are tough for farmers, it’s typically tough on the System as well. In effect, what’s good for farmers is good for the System, and vice versa.” The improved ag economy is only one reason for the System’s recovery, however. Another is Farm Credit’s own commitment to meet the changing needs of farm ers and ranchers. “This really is a new System,” Eberly said. “We’ve listened to what members really want: things like an improved pricing system, fixed and adjustable-rate loan products and higher standards in customer service - and these are all in place and working.” The System’s recent reorgani zation is also yielding a more effi cient credit delivery System for borrowers. Mergers, consolida tions and reduction in overhead have helped reduce operating costs $6O million in 1988 alone. One Farm Credit program which has made a big impact in rural America is the restructuring OR A - * * Trademark of Pfizer Inc. kssMus IB—H* | PURINA CHDWS * Registered trademark of Ralston Purina Company of more than 62,000 problem loans valued at $B.B billion. “Whenever possible, we want to keep fanners and ranchers on the land,” Eberly said. “Our commit ment to work with these troubled borrowers has also assisted in our recovery.” Another big factor in the Sys tem’s recovery has been the Agri cultural Credit Act of 1987. Although there were those who criticized the $4 billion in assis tance authorized by the Act, i> appears that their reservations were unwarranted. Less than one fourth of the available government assistance has been used up to now, and the System will repay Uncle Sam over time for all aid. Rt. 82 Unionville, PA 18375 (215)347-2377 Country Craft Market At PA All-American Show HARRISBURG (Dauphin Co.) The 2nd Annual Country Craft Market will begin another five day run at the State Farm Show Com plex beginning Sunday, Septem ber 24th and continuing through September 28th. FREE ADMISSION AND FREE PARKING will be avail able all five days. Hours are daily from noon to 8 p.m. Featured will be an ample variety of crafts with a country nature in mind. Leather, ceramics, woodworking, baskets, oil paintings, etchings, rag dolls, needlework, home furnishings, toys, and more will be among die LAST YEARS ASK ABOUT 'A SATISFIED LOCAL CUSTOMERS ARRIVAL SURVIVAL Moor Man’s Beef Cattle Boost Medicated They're right off the truck probably off feed and vulnerable to sickness Getting those calves eating and gaining again is the key to your profitability and maybe their survival A simple economical way to do it is with Moor Man's Adjust ment Program Just add 1 lb per head daily of Beef Cat tie Boost' to your own forage and gram Feed it for 28 days after arrival It's highly palatable and easily digested by stressed calves So they eat more feed which helps mcrease gam and reduce sickness Interested in being part of our fast growing team? Contact... Jeff bvanyK State Sale* Mgr. Waynesboro, PA 717-765-4461 David Gibson Area Sates Mgr. Chambersburg, PA 717-261-0765 Lancaster Farming, Saturday, September 16,1989-A23 handiworks available at the show. Many of the craftsmen in atten dance will be offering first-hand observation of their craft through out the five days show through staged demonstrations. This pro vides visitors the opportunity to observe and appreciate first-hand the individuals skills and talents. Free admission and free parking are also a plus for this unique show being held in conjunction with the 26th All American Dairy Show. Further information on exhibit ing at the show may be obtained by phoning (717) 787-2905. Beef Cattle Boost contains Aureo S 700' which aids in the maintenance of weight gam in the presence of respiratory disease such as shipping fever Ask your Moor Man Representative about Beef Cattle Boost It s the easiest way to help your calves survive and thrive ’Trademark of American Cyanamid Company The efficiency experts of animal agriculture Pete Grout Area Sales Mgr. Ephrata, PA 717-738-1326 Dale Simmons Area Salaa Mgr. Llnvllle, VA 703-833-2341 Tom Sharp Area Salea Mgr. Ephrata, PA 717-738-2509
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