C6-Lancaster Farming. Saturday, September 4, 1993 Northeastern Farm Credit Reports Earnings LEWISBURG (Union Co.) Strong second quarter earnings of $382,000 on a $196.5 million loan portfolio were posted by North eastern Farm Credit, ACA in its second quarter financial reports. The $582,000 in second'quarter net income represented a 9.2 per cent or $49,000 increase over the same period of 1992. Robert T. Reich, president of Northwestern Farm Credit, ACA attributed the earnings increase over earlier periods to improved net interest income and a lower provision for loan losses primarily as a result of improving credit quality. Net interest income for the quarter was increased 8.4 percent from the second quarter of 1992. The improvement in net interest income resulted from higher lev els of capital and a decline in funding costs. Monsanto Herbicides Tough On Weeds ST. LOUIS, Mo. Two new experimental com herbicides un der test by Monsanto should offer farmers excellent weed control and superior environmental safe ty- The products include Battal ion® herbicide, for preemergence control of broadleaf weeds and Permit® herbicide, for postemer gence control of broadleaves. They are being tested in field plots covering a total of 8,000 acres un der an experimental use permit (EUP) this summer. ‘These products offer excellent human and environmental safety characteristics,” said Jerry Flint, Monsanto product launch supervi sor. The herbicides are applied at rates up to 36 times lower than some currently available com herbicides. This contributes to their overall environmental safety. Studies submitted to the En vironmental Protection Agency (GPA) as part of final registration packages show that there is little chance that these herbicides would move into ground or sur face water. This is because of low solubili ty in water and aggressive binding to soil particles. And safety stu- Ag Secretary Tours Groffs ELIZABETHTOWN (Lancas- r) . ter Co.) U.S. Department of *_ ass j S | 2n . secretary for mar- Agricultureassistant secretary for ke £ and services. Branstool the nation's Eugene Branstool recently toured f . , . . . the faciliUes of Groffs Meats in meat an f f poultry ““fff Elizabethtown. non program and farm commodity Branstool was recently appoint- grading and marketing ed to his position bv President Bill F 01 " 01100 programs. Limousin Juniors Elect Directors ENGLEWOOD, Colo. At their July meeting, members of the North American Limousin Junior Association (NALJA) elected 1993 directors and officers. NALJA is a national organiza ness News Reich said, “were pleased that net interest income has continued to improve, reflecting increased earnings capacity of the associa tion.” Credit quality in the association has unproved notably. At June 30, 1993, adversely classified loans represented 9 percent of the loan portfolio as compared with 9.5 percent at year-end. The advance in credit quality was cited as a contributing factor to the reduc tion in the provision for loan loss es since the allowance for loan losses generally moves in unison with trends in credit quality. Association officials reported a $5.2 million, or 2.7 percent in crease, in loan volume since De cember 31,1992. The modest gain in volume reflects slowly improv ing economic and agricultural conditions in the region. dies show that the herbicides pose practically no risk to human health, or to fish and wildlife, when used according to label directions. Both herbicides control a broad range of important broadleaf weeds. Battalion offers consistent early preplant, preplant incorporated, or preemergence control of such tough broadleaf weeds as velvet leaf, cocklebur, common ragweed, redroot pigweed, and yellow nut sedge. It is applied at low use rates of 7-10 ounces per acre and is for mulated as a water-dispersible granule. Postemergence Permit provides outstanding control of cocklebur. redroot pigweed, giant ragweed, velvetleaf, yellow nutsedge, and other weeds. It has a wide applica tion window, from the two-leaf stage through layby, with excep tional crop safety. Formulated as a water-dispersible granule, it has extremely low use rates of % to l'/i ounces per acre. It will be sold in water-soluble packets. Both herbicides degrade rapidly in the soil, regardless of soil pH. So it’s safe to rotate to soybeans, wheat, com, oats, alfalfa, grain sorghum, and many other crops. lion of youth under 21 interested in Limousin cattle. The member ship of NALJA has grown steadily in recent years, keeping pace with rapid growth in the Lipiousin breed. Events and activities open to NALJA members include the Agway Reports Successful Year Of SYRACUSE, N.Y. Agway Inc., completed a successful busi ness year June 30, according to Charles F. Saul, president and CEO. He attributes the turnaround at the farm cooperative to business changes initiated during the Erst year of an intensive three-year business reengineering process called Customer Driven; 1995, and outstanding team work by em ployees and support by members. “Although it will be a few weeks before the auditors com plete their year-end review and final numbers can be announced, we’ll report a profitable year,” Saul said. “Agway’s overall finan cial performance is moving strongly in the right direction.” Rapidly changing market con ditions and specialized require ments of commercial farms in the Northeast were factors involved in Agway’s decision to concentrate on its basic businesses of agricul ture, consumer retail, energy, leas ing and insurance, according to Saul. “We have rededicated our selves to serving commercial farmers with improved service and quality products,” Saul said. “Employees are receiving special ized training and have renewed their emphasis on providing excel lent service to customers, includ ing providing practical answers to technical questions. “All five internally managed businesses contributed to earnings Truck-Mounted Mixer From Patz POUND, Wis. Truck mounted Patz open-top mixer fea tures include; *Four giant augers that mix fast. *Hay-shelf design to help tear apart square-baled dry alfalfa. ’Counter-rotating upper augers that produce a continuous ly circular mixing action from front-to-back-to-front and from side-to-side. ’Mechanical drive off truck transmission P.T.O. or hydraulic drive off truck engine crankshaft. ’Planetary gearbox to roller-chain reduction in a sealed oil bath for reliable performance and minimum manitenance. •Self-aligning auger bearings are mounted outside for easy service. •Flanged auger tubes to allow easy removal. ’External bank of grease zerks for auger bearings. •Discharge door controlled with hydraulics for adjustable dis charge rates. ’Discharge augers powered by a hydraulic motor. •Hydraulically controlled dis charge height for precise feed placement (option). *A choice of discharge lengths to make feeding easier and delivery more precise. •Easy-to-use electronic scales are available for precise total mixed rations. ’Capacities of 190, 240, 290, 325, 375, 435, 510, and 575 cubic feet. Affordable financing rates and 24,36 or 48-month terms for con venient payment are available from Patz Financial Services. Contact a Patz dealer for a bro chure and to see a video of Patz open-top mixers or tumble mixers. Or contact Patz Sales, Inc., Pound. WI, 54161, (414) 897-2251. annual National Junior Limousin Show and Congress, scholarships, awards, field days, and education al opportunities. For more information about becoming a member of NAUA, contact Don Schiefelbein at the NALF office. (303) 220-1693. above budget,” he said. “Feed sales increased dramatically in a flat market, and crop input sales improved despite a late, wet spring. Our revamped retail store system is looking good, and Ag way Energy Products produced both volume and solid earnings. Telmark, our agricultural leasing company, had an outstanding year and our farm property and casual ty insurance programs, sold through independent agents, con tributed to our success.” As part of its plan to provide more effective, direct-delivery service to farmers and other cus tomers, Agway is separating its bulk farm supply business from its consumer retail stores. The new alignment is already working suc cessfully in New England, Penn sylvania, and parts of New York. “All Northeast farmers will soon be able to order bulk feed and crop inputs directly from Ag way’s regional feed mills and crop centers by calling toll-free to new ly established Customer Service Centers,” Saul said. “Well-trained Agway farm sales specialists con tinue to work closely with their farm customers, providing indivi dualized cropping and animal feeding, handling and housing in formation, and products.” Saul said farms in some areas will con tinue to deal directly with their lo cal Agway representative for farm input supplies, and custom feed grinding and mixing because of the markets they serve and the ef- Truck-mounted Patz open-top mixer features include counter-rotating upper augers that produce a continuousy circular mixing action from front-to-back-to-front and from slde-to-side. Van Dale Honors Lancaster Silo Company MADISON, Wls. Brian Weaver of Lancaster Silo Com pany, Inc., Lancaster, Pa., accepts his Top Sales Perform ers Award from Gene Kapsner, far left, vice president of J- Star's Van Dale Sales Division and John Nelli, far right, pre sident of J-Star Industries. The prestigious Top Sales Performers Award recognizes the top 20 1992 sales volume leaders for all Van Dale pro ducts. The presentation took place at the Van Dale National Dealer Meeting held In Madison, Wls. The meeting gave Van Dale dealers from all over the United States an oppor tunity to hear about new products, Innovations, and pro grams featured for 1993. Change ficiencies of their delivery sys tems. Agway retail store locations, in cluding franchised representa tives, are concentrating on imple menting a specialty retailing strategy including upgraded store interiors and exteriors, expanded product lines in three categories, including items for the farm, yard and garden, pet food and supplies, and superior customer service, ac cording to Saul. “Reengineering a traditional company like Agway is a big pro ject, and it could not have been done withiout the tremendous ex tra effort of our employees,” said Saul. “Together with our franchis ed representatives, we are now able to serve both farm and non farm customers much better under this realigned structure. We are al ready seeing major increases in livestock feed and crop input sales and in consumer retailing in New England, where this new program has been in place for a number of months. Most importantly, cus tomers are telling us it’s easier to do business with us. Thai’s one of our primary goals. “We’re excited about our suc cess to date,” Saul said. “The Ag way board of directors, members, and employees are working well together to implement this transi tion to a more customer-focused organization. These early results prove that we’re on the right track.”
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