Agway Issues Statement On Grain
SYRACUSE, NY - Agway
Inc. issued the following
statement Thursday; "On June 28,
1999 it was disclosed to the
company that records had been
falsified during the fiscal year
ended June 1999 to conceal losses
from unauthorized speculative
activity in the Agricultural
Group's Grain Marketing
business. An investigation of
these matters is currently being
CA
• Weight-Tromx • Bucket Elevators
Feed Mill • Stirring Systems
• Transport Augers • Utility Augers
winter
Call Us For Your Grain Dryer Service Work -
24 Hour Service... School Trailed Technicians
unm
/• /
/
/
★Full Line Part* Dept.*
★Sell, Service & Inetell*
Marketing Loss
conducted utilizing internal
financial staff, the Company's
external audit firm, and legal
counsel. Actions have been taken
by the Company to limit the loss
from this unauthorized activity. In
addition, individuals identified as
involved in the unauthorized
speculative activity have been
terminated from employment. The
preliminary unaudited results of
that investigation indicate the
• Feed Bins
• Wet Tanks
• Gram Bins
(§S£)
AUTOMATIC BATCH OR
CONTINUOUS FLOW
GRAIN DRYERS
5 <t ®
1 --m 19. a.
Westfield Grain Augers
BUY NOW, SAVE NOW
6 MONTHS NO INTEREST
Truckload Sale
Transport Augers In Stock
Rt. 272 South
14 Herrville Road
Willow Street, PA 17584
Ph. 717-464-3321 or
Toll Free 800-732-0053
Mon.-Fri. 6:30 am to 8 pm
Sat. 7:30 am to 6 pm
Sun. Oloaad
total loss to the Company
associated with the unauthorized
activity is less than $lO million.
While the investigation in
ongoing, the Company, at present,
still expects to report positive
• Air Drying
Systems
• Gram Dryers
• Parts & Motors
The Competitive
Edge
“Smart system”
eliminates guesswork
Early Order
Winter Program
JCE
m
m
Hardware
UPS
Shipping Point
6/26
Ml
WHAT
DO THESE
FARMS
HAVE IN
COMMON
COW
COMFORT
AND PRODUCTION
TUNNEL VENTILATING
PURINA PROTEUS & EXT
High Bros, feed Consultants,
Doug High, Jr., Left - Rick Kolb,
Purina Mills Dairy Specialist,
Right with Doug High Sr. (Not
pictured) wants to work for your
cows comfort and production.
That works and continues to
work!
gj State Of The Art Research
53 Highly Trained Personnel
£5 Local Ph.D Nutritional Backup
53 Veterinarian Services
(Sample Analysis)
K
earnings before income taxes for
the year. However, it may be
necessary to restate financial
results for the first three quarters
of the fiscal year ended June
BY USING
AND
HIGH BROS.
441 Centerville Road
Gordonville, PA
717-354-0301
Lancaster*Farming, Saturday, July.lo, 1999-A39.
1999 The financial results of this
activity will be more fully
disclosed in the Company's 1999
annual report filing with the
Securities and Exchange
Commission."
53 State of the Art Milling Facilities
55 Local Dealer Representation
53 Product Guarantee
Highest Energy Products in the
industry
K