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HomeMy WebLinkAboutTimes-Advocate, 1980-03-12, Page 243111 5Rzlinsnt CERTIFIED SERVICE Through. Mar. 26 Tune up for Spring. Receive discount of 10% on labour and parts on repairs done in our shop. Also compare these prices then come and stock up for Spring • 3x8 Hydraulic cyl. $68.70 4x8 Hydraulic cyl. $107.80 KONGSKILDE CULTIVATOR SHARES Reg. Our Price 1.10 .95 1.40 1.20 1.40 1.20 1.75. 1.0 1,90 1.60 9.35 7.95 3/4 h.p. Air Compressor $340.00 PTO Tractor Compressor $150.00 A Good selection of Filters & Lubricants in Stock. It takes time, effort and a sizeable investment to be- come a Case Certified Tractor Service Specialist. But we think it was well worth the effort. So do our customers. Get all this and more at: .C.G. Farm reill Supply Limited RR 3 ZURICH, ONT. Phone 236-493;- Reversible Shares Ultra Blue Shares Goose foot Shares 4" Sweeps 7" Sweeps Tines Dry Pea Contracts Seed, Fertilizer and Chemicals Supplied until Harvest * * * Harvest in August Paid in September * * * No special equipment required Makes excellent fall wheat ground Contact - Bill Hocking THAMES VALLEY FERTILIZERS 229-6575 LEARN TO FLY NOW!! AT WESTERN AIR SERVICES CENTRAL LAKE DIVISION Specialists in flying training • Private • Commercial • Night Rating • Instructor Rating • Aerobatic Special introductory flight $15.00 for Feb. & Mar. In The Control , Tower CENTRALIA AIRPORT (519)-228-6367 Exeter District Co-Operative To all those who worked on my behalf and to those who supported us in the recent Federal Election my sincere thanks. Spec way. ial thanks to all who contributed in any Graeme Craig Huron-Bruce Liberal Candidate PUBLIC SPEAKERS AT CREDITON — The am -mai public speaking contest for five area elementary schools sponsored by the Crediton Men's Club was held recently. From the left are Dou,g Woodburn, Stephen; Jennifer Merrylees, McCurdy; Bar- bara Morrissey Mount Carmel; Paulette Rothbouer, McCurdy who placed third; Marsha Clarke, Stephen; Tracey Coward, Usborne; runnerup Cathy Glavin, Mount Carmel; winner Christine Coates, Usborne; Cheryl Lynn McGillivray and Brenda Bullock, McGillivray. Photo by Irene Haugh. Interest rates high Efficiency key in farming By RHEA HAMILTON Efficiency is the key consideration in farming with today's high interest rates, Federation of Agriculture members heard Thursday night. John Murphy, from the Royal Bank,AlecMcLeod, Bank of Commerce, and Bill McEachern, a Grand. Bend area accountante agreed on that in a panel discussion at an HFA meeting in Exeter. Mr. McEachern said that the level of pessismism at the recent farm show in London was unwarranted. "As an accountant I see a lot of financial information but I only know of three farmers that have gone bankrupt recently" said Mr. McEachern. "Of those three only one declared bankrupcy and the other two are being encouraged to do so out of mismanagement or ex- pansion." Mr. McEachern agreed that high interest rates and increased costs have dampened profits but 85 percent of the farm businesses are owned and farmers on a whole are not 'heavy users of credit. The exceptions are young far- mers and those doing a lot of expanding. "Interest rates are not By MRS. HEBER DAVIS Mr. and Mrs. Tex Maxted of Western Canada are visiting Mr. and Mrs. Harry Carroll. The Maxted's were residents of this community a few years ago. Mr. and Mrs. Clarence Davis attended church service at Brynston United Church Sunday and were guests with Mrs. Murray Gibson. Mr. and Mrs. Bob Tindall, Marylou and Robert and Mr. and Mrs. Earl Greenlee and Gate Wennestrom visited Mr. and Mrs. Heber Davis, Sunday. Miss Jean Barker, nurse in training at Victoria Hospital, London spent the past week _with her parents and relatives in this community, Mrs. Alma Godbolt, Exeter; Marguerite Greenlee and David Latta, Lucan had lunch with Heber and Mary Davis Thursday and Friday. The Davis'Were noon guests with their daughter Mr. and Mrs. Jim Barker. Church service at St. Patrick's was cancelled, due to the snow Sunday. • Timei-Ativactifil, March 12# 19110 Play euchre at Crediton By MRS PRTRR MARTIN Wedneadiy evening the Creditors Women's Institute held a very successful euchre with 13 tables in play. Winners were ladies high, Mrs.. Rill Lamport 10.10 10W, Mrs, Eizer Masse; ladieSlew, Mrs. Roy Swartz; men's high, Lou Hodgins; Men's low, Dave Cottell, men's lone nano, Sam King. Next euchre will be held March 18 at 8;15. The ladies are reminded .ef the next Institute meeting, March 111.. Barry Miller will be the guest speaker. United Church Rev. Brian Elder held an. organization meeting Sunday afternoon for a communicants class. All those children 12 and over are invited to join the United Church. Thursday evening the ladies of the United Church met in the Sunday schoolrooms. Devotions committee were Nola Ratz, Velma Russell. and Nola Faist. Subject was The Key to Prayer. Eleanor Roeszler and Doris Swartz sang a duet entitled "Pause at His. Feet in a Moment of Prayer." Joyce. Presztator ac- 'Companied on the piano. Meeting was then turned over to president Helen Ratz, It was decided to have a casserole and pie supper in the forin of a pot hick supper including all the congregation. Bob Heywood will be.the guest entertainer and Rev, Elder will take us on a trip across. Newfoun- dland by slides. This should prove to be a very enjoyable evening. Supper starts promptly at 6:30. Lunch supper by Elva Lamport, Irene Finkbeiner, Evelyn Pickering. Personals Several ladies from Crediton attended the Worlds Day of Prayer in Mount Carmel on Friday. Mrs. Jean. Neil, Marie Fyderichuk, Jeanette Lamport, Nola it asst,, Nela Ratz, Mable Guenther, Mary Kenney, Mary Elder, Lyla Hendrick, Irene Schlenker, Velma Russell, Evelyn Pickering, Helen. Rats, Katie Schenk and Marion Schenk. Those taking part in the service were; Jeanette Lamport, Jean Neil, Marie Fydenchuk and Helen Ratz. Mrs. Goodale from Strathroy was the guest speaker and presented an interesting message to the ladies from Greenway United Church, Greenway Anglican Church, Crediton United Church and Mount Carmel Roman Catholic Church, A lovely lunch was served. President Helen Ratz thanked the Mount Carmel ladies for the lovely ef- terneon and invited the four' churches to attend the World Day Prayer next year at Zion United Church in Crediton. Annual Spring d On Chemicals And Fertilzers Thursday, March 13 EXETER LEGION HALL causing the calamity" Mr. Ontario could shoot funds out McEachern said, and cited the same way. The figures illustrating his point. drawback is that it creates Out of a study of "74 farms in an artificial environment 1978 the average group were and more government in 75 percent financed for their tervention. • feed, livestock, and Mr. McEachern in general machinery. Along with a foresaw a disaster, "Profits mortgage of 10 percent are not there and with (which is not possible now) reducing inventory more and the average group would problems would be created. miss their payment of $53,000 (principle and interest) by $2,000 or $3,000. "Invariably farms are 25 percent financed and with farmers using the interest to reduce their income tax it all helps." Producers in the beef and pork business would be more affected by interest rates. Many are heavy borrowers for their stock and suffer from fluctuating prices, he said. Alec McLeod urged far- mers to remember the basics, to check the ef- ficiency of their operations. He suggested a revolving operating loan to reduce costs. A monitor and check throughout the year would help with cash flow. "Farmers have a tendency to use a lot of short term .credit" said Mr. McLeod. "The first problem comes in operating loans which are affectedby.tIr market." Mr. term loane and discuss your finances with your banker." Mr. McLeod stressed in individual situations that the farmers have good co- operation between himself and his banker. Mr. Murphy was asked who gets the profits from the higher interest rates. "As prime rate goes up so do the deposit rates. The higher interest is to stop borrowing" said Mr. Mur- phy. "The farmer takes what the market gives him and he can't take his own price." Another drawback is that farmers are all competing for the same source of funds. Both the tile drain loans (at 6 percent) and, farm credit (12 percent) have limited funds. Members questioned the panel about what they thought 'the future would hold for the farming com- munity. Although the farms would tend to be larger units, the panel agreed that the farmers would be younger. "Look around the room here. There is a large number of farmers here under 36 years" said Mr. Murphy, It was suggested by Tony McQuail, West Wawanosh, that there should be a greater spread between borrowing and depositing rates. He questioned whether the economy would respond to the high interest rates and whether anyone will be able to see if the economy is hurting and be able to hold back. One farmer was concerned with the difference in in- terest costs between-Quebec and Ontario farmers. In Quebec, interest rates to farmers are 8 percent and there is no limit to the funds available to the farming community. The panel of- fered no answere except Wheat report The latest position report of the Ontario Wheat Producers' Marketing Board was issued recently, showing total producer sales of 1979 crop Ontario winter wheat at 649,752 tonne to date. Of the total producer sales, the marketing board has sold 205,381 tonne for domestic processing, 17,708 tonne for seed, 1,073 tonne for feed, and 402,768 tonne in com- pleted export sales. The volume sold by the board for export yet to be completed totals about 1,129 tonne, and about 13,027 tonne for domestic use, Young farmers are having to leave and the farming community is really suf: fering." he said. Mr. McLeod disagreed. "interest rates do make it difficult but they are not the only factor." It was suggested by the bank representatives that the rates would not likely go down and that " we may look forward to 22 percent in- terest." Farmers were encouraged to explore the idea of part- ners and not buy new ex- pensive machinery for in- come tax purposes. Other answers for farmers looking at machinery are to own larger pieces co- operatively. Mr. Murphy suggested that three more get together and apply for a syndicate loan at 11 percent. The maximum loan per partner is $15,000 each or a total loan of $60,000. The meeting, heard that McLeod said. !`Set up a long John Phillips, editor of Town and Country, had contacted HFA vice president Gerry Fortune and apologized , for an editorial that did not "go They're all the same, many say! A bank is a bank ... and money is money. True, there are many similarities, but there are differences too, and it's the differences that matter to you. The Scotiabank difference is the way we do business. Money is money, but there are many different situations and purposes for which it can be used. There's money for operating, for equipment financing, for leasing, for land purchases and for fixed interest term loans, Scotiabank can show yoU different financial routes that can help you achieve your goals. As a farmer, you want a farm bank, so we staff Scotiabank branches in farm areas with people who know the farming business. , And, because farming is a big and complex business, Scotiabank also offers a full range of support services. If you think all banks are the same, discover the Scotiabank difference. Scotiabank THE BANK OF NOVA SCOTIA When your farm needs more from a bank. The Scotiabank difference over well in Huron". "It was not his intention to offend anyone," he added. In response to his editorial Huron members requested that the Ontario Federation of Agriculture disassociate themselves from the publication. Bill Crawford, Huron fieldman, reported on the membership. After a drop below 2,000 membership averages at the 2,014 mark. Regisf ration - 11:00 a.m. Complementary Dinner - 12:00 noon Please Let Us Know By March 6 If You Are Coming. We'll Keep A Seat! By MRS. FRED BOWDEN Mr. and Mrs. Lawrence Hirtzel and Mr. and Mrs. Ralph Lightfoot were in /charge of the euchre party at the Community Centre Monday night with eight tables in play. Winners were: ladies high- Mrs. Gordon Atkinson; lone hands-Mrs. Tom Kooy' low- Mrs. Lloyd Elliott; men's high-Roy Swartz; lone hands-Charles Railings; low- Mrs. Charolotte Barker; travelling prize-Bill Lam- por t. Mr. and Mrs. Joe Carter, Mr. and Mrs. Evan Hodgins and Mrs, Jean Miller will be in charge of the euchre party in two weeks. Personals Mr. and Mrs. Wayiie Harrison, Strathroy; ML-. and Mrs. Robert Harrisoh, Lucan and Mrs. Don Dixon, Newell were Sunday visitor§ with Mrs. Minnie Harrison. Miss Debra Harrison, London spent the weekend at the home of her parents Mr, and Mrs. Roy Harrison.