The Rural Voice, 1978-12, Page 26there but you will never get them until you
ask. Farmers should shop for credit just as
carefully as they do for anything else," he
said.
Benson pointed out interest payments
had become an increasing burden for the
province's farmers. "Operating costs have
skyrocketed and the price of new land,
equipment and building is nearly beyond
belief. When you combine that with the low
product prices of the last few years, it
means the farmer is not as dependant upon
the financial institutions as any other
businessman."
The latest figures from Statistics Canada
show that in 1977, Ontario's farmers paid
$204 million in interest charges. This
compares with $187 million the year
before. Benson forecast the combination of
even higher interest rates and increasing
indebtedness would drive the figure still
higher in 1978.
Corn harvest higher
than predicted
The province's corn harvest is at least 10
million bushels higher than predicted
earlier in the season.
The Ontario Grain Corn Council is
estimating this year's yield at 130 million
PLETCH
ELECTRIC
WINGHAM
• Residential
• Farm
• Industrial
• Commercial
Phone Collect
357-1583
bushels, up about three bushels per acre
from earlier predictions.
A drought early in the summer seriously
retarded the maturing of corn, now
Ontario's largest single grain crop.
Government estimates originally called for
a 120 million -bushel harvest with average
yields of 75 bushels per acre.
A spokesman for the Grain Corn Council
said average yields are likely to be closer to
78 bushels per acre with some isolated high
yields from Kent County of 160 to 170
bushels.
Estimates may be revised again as the
corn harvest in the province draws to a
close.
$4000 in production
defines a farm
The provincial government has an-
nounced that changes to the 1978 farm tax
reduction program will redefine eligible
property.
To qualify in 1978, a farm property must
have produced at least $4,000 worth of
agricultural products over the year.
In the past, the qualifying amount was
$2,000.
When an owner doesn't farm the land
himself but rents it to a tenant who farms,
the value of good produced by the rented
portion of the property alone must be
valued at $4,000.
4.
GLAVIN BROS.
BARN PAINTING
Sand Blasting
High Pressure
Water Cleaning
Airless Spray Equipment
and Aerial Boom Trucks
Free Estimates Call Collect
R.R.#1 Crediton
Mike -228-6256
Jim -228-6247
5259
5265
M279
#1 early variety in Ontario . Strong root system
and rugged stew ... Grain or silage.
Top yielder ... Exceptional standability
Good ear retention . Consistent producer.
High yields . Loose husk .Strong stalk .
Good standability . High test weight.
Box 10 Lucknow, Ont. 528-3024
PG. 26 THE RURAL VOICE/DECEMBER 1978