HomeMy WebLinkAboutThe Goderich Signal-Star, 1985-03-20, Page 773
•
have eaelkt
led 141,00 0. •
beOveeil t, ,
bnpOitant ! 10,1' Ill Ito:Bflk Of
Montreal.
"We haVit*,,...thrnugh aperiod In*•thiAlt. *-
many basic hapirress.assuntioU8 Were
.
proven' IMMO," BS*, V109101/374*,.4, M. -
(Stan) Davison told an eadte#4*Ortialiersat
the fifth annual fltatgietklatel Rent
Outlook Conference iir.lontIOn:Mently„ "As
we enter die halt,* 0144 , a
good degree of Stability 0;004 over the
last year, a new set of basic business Mies
appear to have:m*414%V.
One important result has been the develop-
ment nf a mildr.wider range of farm banking
services than:haveeve0)0en.4Vailable before
-- fixed or floating 'rate operating loans,
building and equipment terra loans, longer
term mortgages, and this year a, revolutionary
new service account developed from suggee-
tions by farmers serving on the Bank of
Montreal's Agrieultia* AdvisOty Panels.
The new fanner - banker realities as the
Bank of Montreal sees them, said flatrick M.
Moncrieff, the. Bank's Senior Agrieukge
Manager, are high real estate rates and thus
a high real cost of borrowed funds; - low
inflation; asset:values trending. to productive
values .relativelylow growth m demand -for
farm products; intense onmundllY sales
competition -- • all leading to continuing
pressure on farm operating margins.
• "In times of instability and uncertainty,"
Davison said, "the. time .planning horizon of
farm businesses was, of necessity, the short
tbia Still tr4e,, to some degree,
We Specialize in:
ou
mos.
•
Th. new Ues. wecag.
thisyear'S conference, hartebad
natiOr h*SIn:fanner - barrier re10107.
*blots Kouwenhetell said. ,
The itanabet One laVael isoasirnetme.
• "AgrietlittaVIS undergoing amajor change In
'structure. TIMIS 4 iatiting ont process going
on. A smaller percentage of IR ins are
responsible for
of farm inputs n. sale of farm ecimmodi-
ties.''
One of the /main &imposes of new
ComMereial
Montreal, he said, is to "have speciffc
expertise to service the larger cormnencial
farm enterprise. We have staffed these units
with more experienced and senior personnel
because you want professional service."
A second impact is on farm financing. The
fared financial issue has become the number -
one farm policy. issue in .Canada today,
Kouwen,hoven said. "Governments are at-
tempting to soit out where the true public
intemst • lies... We are not looking for
goverMnent protection but...for guidance on
the alum dimiiont . of._ :the, agricultural
• industry."
A third impact was on coedit worthiness.
Because of the effect on capacity to service
debt of declining asset values, low. commodity
prices, and high real interest rates, he said,
"credit worthiness is no longer assumed, by
• turn to page 14a
wing the largest share
Units within the Bankof
Turbulent 80s affect farm -bank relationship
• .
Permit dual labelling forchemicals
Agriculture Minister ;John Wise has "As a government, we believe that every
instructed Agriculture Canada officials. to effort snouldbe made to ensure that errors in
amend regulations to permit the voluntary application due to metric only labeling are
dual labeling (metric and imperial) of avoided. Therefore, like the Canadian
agricultural chemicals, including fertilizers Federation of Agriculture, the United Grain
and pesticides Growers linit Others; we -believe :that'both
"Fbr years, fanners and fann organize- - measurement systems should be allowed for
tions have told the federal govenunent that a the labeling of agricultural chemicals, includ-
metric only label on these pmducts could be ing fertilizers and pesticides," said Wise.
misunderstood by users," Wise said. "My The Minister said he expects the amend
-
colleagues and I have recognized and shared menti procedure will be completed in the near
these concerns with the agricultural corn- •future and no prosecution under the current
metric only regulations will be undertaken.
miMitY•"
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