A2O-Lancaster Farming, Saturday, December 29, 1990 After lunch, a tour of the Kreider farms. Left to right, John Moose, Don Cooper, Bobbie McElhinny, and Marian and Noah Kreider Jr. Bank Chairman EVERETT NEWSWANGER Managing Editor MANHEIM (Lancaster Co.) —“I think the health of the agricultural community here has probably almost never been belter,” said Wilson McElhinny, chairman and president of Hamilton Bank. McElhinny will retire at the end of the year and the bank’s agri-finance department honored him and his wife Bobbie McElhinny last week at a luncheon at Krcidcrs restaurant. “The agricultural customers we have at Hamilton, almost without exception, are having a bountiful year,” McElhinny said. “Yes, there are exceptions, but over all prices and profits have been good. This has given the ag community a chance to rebuild their capital after some lousy egg prices just a year ago.” McElhinny said he expected the local area to have a softer economy going into the new year, but said everything is relative. “I think within Pennsylvania and in the Lancaster, Berks, Lebanon, Harrisburg and York areas that Hamilton covers, almost without exception, business is soft, but not down and out,” McElhinny said. “This is a diverse area with a strong work force. A number of companies are exporting and I am told by them directly that they find this business strong strong because of the decline in the value of the dollar and strong because ol the demand for their products.” McElhinny said that to characterize the general news reports on the economy as a little more negative than he sees it, was a good way to express his view. Not all areas of the country now have recession. According to McElhinny, New England is in a severe recession while the Middle West is robust. The Pacific Northwest seems strong while California, lhat means so much to the total US eco nomy, seems to be gelling a little soft. Texas and the South west, after the terrible ’Bo’s, seems to be doing well. Real estate prices all over the country have dropped from 5 to 10 percent locally to up to 20 percent in other areas. But McElhinny said these prices had probably gotten out of hand and the downward correction was likely inevitable. The Corestates economist now acknowledges lhat we arc in a recession that will last 6 to 9 months. “I dunk it will hist a little longer,” McElhinny said. “But I don’t think it will l»c a severe recession. We arc comming out of a decade of tremendous excesses, particularly debt loads. This hasn’t been true in our part of the country because we haven’t had the hi£ hly leveraged transactions. But 1 think we will look back on the ’Bo’s when we replaced equity with debt and will sec this proved to be an error. “I would think in the ’9o’s we will pull in our equity values with less leverage in the whole economy and get back to bas ics. I think that will be good for everyone,” McElhinny said. Darwin Boyd, head of the agri-finance department, said the presentation to McElhinny was “with sincerest apprecia tion for your leadership and support in helping Hamilton Bank become a leader in agri-finance.” Boyd said the presentation was “a very sentemental experi ence for me becau >e McElhinny and Don Cooper, the chair man and president elect, are the two men who hired me. Because of their vision that agriculture was a very significant part of our economy is the reason Hamilton Bank’s agri- ROPE IN SOME EXTRA CASH! / Y Advertise With A 'I f Lancaster Farming v/ Says Ag Health Probably Never Better finance department went from a one-man department 15 After lunch, Mrs. McElhinny, Cooper, and John Moose, years ago to five full time loan officers and three admistrative loan officer, toured Kreider dairy farms with Noah and Mrs. assistants today.” Mrs. McElhinny received a bouquet of 28 roses, one for each year her husband was with the bank. f \ Wilson and Mrs. (Bobbie) McElhinny (center) were honored at a luncheon at Kreid er’s restaurant last week, by the Hamilton Bank AgrhFinance Department. McElhinny, bank chairman and president will retire at the end of the year. Don Cooper, left, is chairman and president elect, and Darwin Boyd, department head, made the presentations. Your Full-Service John Deere Dealers ADAMSTOWN EQUIPMENT INC. 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