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HomeMy WebLinkAboutThe Huron Expositor, 1976-10-07, Page 13interest Free! SPERRY MEW HOLLOW Hay Equipment until June 1st 1977 Forage Equipment until March Tst 1977 Take advantage of this NEW OR USED EQUIPMENT OFFER TODAY • H. LOBB & SONS Clinton 482-3409 iiiayfield Road TOPNOTCH FEEDS LIMITED The 1976 Corn Sqdson is here We Are Prepared ! To Buy Your CORN Store It Custom Dry it Grain Bank Storage available for feed customers b Storage Space available on a first come first ' served basis. Boa yours now. ?hone 527.1910 SOaforth IVAITCHELL 3488433 IIENSALL 262,-2527 omen croPs. One such, rental agreement calls for an annual rent per acre equal to the price of an agreed Wilber of bushels of corn at an agreed time. In Kent County, this might be the price of 30 bushels of corn based on the selling price at the local elevator the last five trading days in N ovember, Such A system spreads some of the risks between landowner and tenant, and can be varied according 'tee the productiveness of the land being rented. It should be remembered that such ,a , system is a cash rental system, even though the amount of cash rent is not determined until the harvest period. Variations on this system can be made by changing the agreeed number of bushe Is or changing the source of det ermining the price of the crop. In Kent County , the corn crop works very well because it acts as a barometer for most of the other crops. • The problem of lady landowners being "taken in" by "quick buck" artists happens all too frequently. Sometimes the quick buck artist is a person known to you who uses his Imowledge of your ignorance to' pocket a profit. Examples of this occur all too frequently in the sale of farm -woodlots•,• individual walnut trees, farm machinery or other -farm assets which have hicreased tremendously in value and this fact is not known by the lady landowner. We suggest that you make haste slowly ,HURON IN '78 •-r- That's what was being branded on shingles that the Huron County contingent made at the International Plowing Match near Walkerton, in Bruce County. The shingles were made on a steam powered machine and then branded above by Huron County museum curator. Ray Scotchmer, left and county weed inspect& Alex Chesney. (Staff Photo) 0 disposing of• aSSetS4.apd. that 'it Would be a good idea to ask more than one person's Opinion when you find it necaessary to dispose of THE. HURQ14 Elcoorton, garoppi 7, 1974 46;41400i40 041.01.4.1i40...00*,#0.10 ,110:s,00,100 0440,10. DEHORN1NG DEMONSTRATION -- Huron County 4-H members put on a demonstration of dehorning methods, •complete with a cardboard cow at theHuron booth at the International Plowing Match. (Staff Photo) 4) Ynn may wish to rent it out • on a cash rental basis to a farmer , in the community., Each of these alternatives has advantages and disadvantages. Reasons for operating a farm in your own name will be personal. You may have the know-how and ability to farm every bit as Well as any other farmer and succeed very well. You may haVe a-family member fop whom you wish to maintain the farming operations as a unit. However, in the majority of cases, this' is not the route that is taken when women become lady landowners. The second alternative of hiring a manager is sastisfactory, provided the operation is • big enough to provide an income for you and for your manager. The farm , manager will be consi • erably more expensive than a regu' ar farm employee would be r ordinary conditions. It is, there fore, only the larger operations that are able to afford this type of•help today and .so this alternative is n of widely used in Ontario. The third alternative is that of sharecropping, and this is widely aoeepted, particularly in cash erop areas. A share arrangement involving li vestock is possible, but presents many more problems. Share arrangements usually vary from a one-third/two-thirds arrangement, where the landowner provides only the land and the tenant provides everything else, to a fifty-fifty arrangement, whereby the landlord provides the land, the tenant provides the labor and machinery, and 411 other expenses are split on a fifty-fifty basis. In order for a share basis to work, you must have complete faith in your tenant. If you have any doubt whatsoever about the 'ethics of your tenant, we do not recommend this system.• It is just too easy to alter yields if the tenant cannot be trusted. There is also some danger in share- cropping y our land with a tenant when that tenant is cash renting other land. The tendency might be to perform' the, necessary operations on the cash rented land first because the tenant will have 100 percent interest in that crop and perhaps only 66 percent interest, in your crop. The e advantages 'of a share-crop' - arrangement are fairly obvious in ,that it spreads the risk for the tenant and allows you as landowner to share 'in higher prices when the markets are good. The fourth alternative is a cash rent. There are several kinds of cash rents.The most obvious is an agreed sum of payment for 'the farm concerned. This may be calculated at so much per acre or so much for the entire farm, but the amount does not vary regardless of the crop or livestock produced. The time and method of payment is negotiated between the landlord and the tenant,and may vary from a once-a-year payment to a, once-a-month payment depending on the circumstances. The second form of cash rent is a variable cash rent in which the price • of the rent 'depends on the market for the By A N. Watson, O.A.C. \),R Women a significant amount ef fa land itt Ontario. Many farm wives are joint owners with their husbands in farm property. For those who are not joint owners, the . Ontario law provides , dower .crights which amounts to 1/3 interest in all of a husband's real estate. It. is, therefore, important to think of women as landowners in the farming community. , Women who are landowners or part landowners, and whose husbands are farming, seldom encounter difficulties with the land ownership. For most practical purposes and from an outward' appearance of doing business, it 'is impossible to tell wh ether a farm is owned by a man,his wife or jointly. It is only when matters of the law regarding title to the property come up, that any differ appears. Many farms are owned by husbands and wives as joint tenants. This means that when one of the partners dies, the title' of the property automatically goes to the other partner, This will happen regardless of 'wills or other arrangements since joint tenancy means that the survivor will take title to the property. For paiiners who are planning their estates and do not wish this to happen, the property _should be owned as tenants-in-common, or under some other arrangement. Because women on the, average outlive men, and because many farms are owned in joint tenancy, chances are that many farm wives will became lady landoWners. At this point in time, there are many important decisions to be made, and we wish to reflect on some of • the reasoning behind them if you are or if you should become a lady landowner. The first major decision will be the choice of retaining ownership or selling the farm. This decision must be made by the individual, taking into account the circumstances of that individual. Only history will tell us the right or wrong.time to sell a farm. You will likely have to. decide on - whether or not to sell a farm' on other than the current 'market price. We believe that farmland is good investment and if you do not need the proceeds frorrt„the,,, farm to live on, then you must well -consider 'maintaining ownership of the farm ,s an investment. H owever, do not do this at the expense of living poor and dying rich. Another rule of thumb to keep in m ind if you decide to sell your farm is that your best buyer likely lives within a mile of your farm. Don't overlook this obvious point when it comes to selling farm property . Let us suppose you take the route of maintaining ownership of the farm. You then have several other alternati yes' open to you. • —1). You may wish to carry on the farming 'operations as owner operator. 2) You may wish to carry on the farm operation and hire a farm manager to manage the operation for you. 3) You may wish to farm it on a share basis with a farmer in the community; or • • • • encountered by lady landowners an asset, pr, eve, ,,a crop, The special problems op • • imepuncothe chatigepf hnr.he • , • Of the firrhia' are perhaps, the penalties. for being unclad the farming business. The business of today is bigger .than. the worry of whether or not the farm is owned by a man or a woman. Any good business practice With written agreements will. ' ensure satisfactory arrangements for any landlord or landowner of farmland in Ontario.. PER • Tractors Equipment *Free Door Draws Every Hour *Coffee • *Donuts *Balloons *Everyone Welconie We are NOW Acceptin R N For. Drying and Storage For the Most Competitive Prices Sell or Store your Corn at W.G. Thompson & Sons Ltd: rt puRst...gvc;ormi.i • pp4rtoieci,,,,copontegitil• Friday, October 8 - 7-12 7-12 p.m. Saturday, October 9 - 9-12 noon. Our '77 Model SCORPIONS Ray Potter & Sons Ltd. 275 HURON ST., CLINTON 48219997 • • • • (519)024201 • ••••••••••• ••••••••••••••••••:, • • • • 39 IN.e.at Str,e01 • P,O.Bpx SQ.7 • g• GODERICH,ONTAFHO • N7A4c6, DORSI, VODDE ! ::. [NPOR • 9 CHARTEREI? ACCOUNTANTS... ,. , • will be on display including the "Bull whip" the world's fastest production snowmobile at 117 m.p.h,, We offer the corn grower the quickest and most' modem unloading facilities and four ways to sell your corn. 1. Storage 2. Daily Cash Price, 3. Contract Price 4.. Selling on the Chicago Option which means you can sell on December Futures and get 75% of cash value on delivery date with no storage charges.