The URL can be used to link to this page

Home My WebLink AboutThe Citizen, 1988-11-23, Page 21THE CITIZEN, WEDNESDAY, NOVEMBER 23, 1988. PAGE 21. 4-H kids lose $1,000 each in Brussels Stockyards collapse Mildmay, whose Brussels Stock- yards’ cheque for $1,210 bounced along with the cheques for cousins Four Bruce County 4-H members have each lost more than $1,000 as the result of the recent collapse of Patti Weber, here showing her 4-H calf to top place in its weight class at the Huron-Bruce 4-H Beef Sale at Brussels Stockyards on Thanksgiving Monday, is one of four club members to have lost money in the facility’s recent bankruptcy. Dennis and Lyndon Johnston, both of RR 3, Holyrood, who lost $1,199 and $1,224 respectively after selling calves at the annual event. Under LPB rules, a licensed beef producer may recover up to 90 per cent of his loss in the event of a dealer bankruptcy or similar situation, but must file his claim within seven days of the actual sale of an animal to be eligible for reimbursement. But 4-H members are not normally licensed producers, and in any case, both the Webers and the Johnstons have waited far beyond the allowable time limit to cash their cheques. Mr. Weber attended the beef producers’ meeting at Bluevale on Saturday called by the Huron Cattlemen’s Association to discuss the stockyards’ demise, and was encouraged by a motion passed at the meeting to do everything possible to recover any funds lost by 4-H members in the incident. However, Glenn Coultes of RR 5, Brussels, a FPB member, warned that the board would be unlikely to grantwhat he called a dangerous precedent, while HCA president Keith Strang of RR 1, Hensail, said he had checked with the Canadian willing to make an exception in Imperial Bank of Commerce in releasing funds held in trust for Brussels and was told it was not Continued on page 23 THANK YOU I would like to thank the citizens of Brussels who supported meatthe polls on Monday, November 14.1 will do my very bestto representyou on council. Alsothanksto my mom Vera, Mary, Ethel, Darryl and Les for helping me win. Thanks Again - Councillor David Hastings. g g g r Christmas Dreams are enhanced by a visit to Christmas & Country wz* Decorate your home, office, balcony or fireplace with 9' of traditional garland. Choose plain, blue spruce, scotch pineor see our garland, gaily accented with bright bows, pine cones and holly berries, for an aura of elegance and — iVWx charm. Wreaths to match. Brussels Stockyards. And to make matters worse, they don ’ t have access to the coffers of the Ontario Livestock Financial Protec tion Board (LPB), and will have to rely on the receiver named in the stockyards bankruptcy to recover any of their money. “ It ’ s a hard lesson for a kid to have to learn. My daughter is thoroughly discouraged and isn ’t sure she wants to continue (in 4-H),” said Morris Weber of RR 3, Mildmay, whose 16-year-old daughter Patti lost $1,416 when the bank refused to honour the cheque she had received for the sale of her 4-H project calf at the 1988 Huron-Bruce 4-H Beef Sale at the facility on Thanksgiving Monday. Caught in the same bind were her cousin, Brad Weber, alsoofRR3, Inspectors to be elected Thursday Continued from page 20 could get us into trouble further down the road.” Keith Strang of RR 1, Hensail, president of the Huron Cattlemen’s Association, agreed, saying that he had already spoke to the Brussels Branch of the Canadian Imperial Bank of Commerce and that it was “not willing to make an exception (in releasing funds) for the 4-H calves.” In the end, most producers understood that their best bet in recovering the money they had lost on the last sale held by Brussels Stockyards, amounts varying from a fewhundreddollars to more than $60,000, is to comply with the requirements of the LPB in recover ing 90 per cent of their claims, then applying to the receiver in the case, DunwoodyLimitedof Toronto, in submitting a claim for the remaining 10 per cent. “Nobody should lose a cent over this,” Mr. McCall told The Citizen later. “The money’s there -- it’s not an actual bankruptcy. The bank is sitting on $790,000 we (the McCalls) stopped from leaving the country.” But he warned that producers “had better be damned sure” they have filled out and returned the forms sent to all creditors by Dunwoody before Thursday, or they won’t have a chance of recovering whatever they are claiming (from Dunwoody). The receiver has called a meeting for 11 a.m. on November 24 at Brussels Stockyards, at which five inspectors will be elected by the creditors themselves to oversee the distribution of funds, as available, among the creditors. All registered creditors will be eligible to vote at the meeting, or they may arrange to vote by proxy, Mr. McCall said. cd 03 CXJ £ GO g 120 Queen St. N., Blyth, 523-4820 Open Mon.-Sat. 10-5:30, Sun. 1-5 g "We're a Blyth Bucks Participating Merchant" AUBURN CO-OPERATIVE 526-7262 Store Hours: Mon. - Fri. 8:30-5:30 Sat. 9-12 noon BELGRAVE CO-OPERATIVE 523-4454357-2711 Store Hours: Mon.-Fri. 8to 5front lhe ^mri Sat. 9-12 noon Sale Prices in Effect until Nov. 26/88 YOUR CHOICE! OUTDOOR LIGHT SET Add a festive touch to your house with Noma out door light sets. 25 light, sparkle set available in solid colours or assorted. Sets can be attached together. 587-620. OUTDOOR MINI-LITES SET Mini bulbs give a sparkle effect to shrubs and windows. Your choice of clear or assorted colours. 25 light set. 587-621. Set 40 light set. 587-622 ............ $18.88 each INSULATED COVERALLS Elastic waist at back and large 2-way zipper at front. Navy or brown. Sizes S-XL. #42010. Tails & Oversizes $64.88 each WESTERN STYLE OR FLANNEL SHIRT Assorted plaids. Western style #3703. 100% cotton flannel #20050. YOUR CHOICE Tails & Oversizes $23.88 each EVERYONE WELCOME TO SHOP CO-OP! Hwy. #4, Belgrave County Rd. #25, Auburn