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HomeMy WebLinkAboutThe Wingham Advance-Times, 1985-03-20, Page 66la - The Farm Edition, Wek of Mardi 20, 1085 Think Ahead to Harvest Time!! We have the facilities for: receiving & drying wheat *we also buy & dry barley. *come in & see our new facilities & plan ahead Amberley Grain Elevators 1Division of Parrish & Heimbecke0 395-3300 Jct. Hwy. 86 & 21 01111110110vittis) Otil YARD WORK LIMflEQ ni 1."' 11 Big Savings! • 17 HP Twin Kohler • Shaft Driven Cylinder Engine Attachments • Patented Foot Pedal • Hydraulic LItt Hydrostatic • Tough Attachments MARK'S GARAGE Chepstow 366-2634 Helens Quality to Eliminate the Hard Work From Yard Work Farm pressures here to stay says Royal bank official.... from page 5a bomoving. The farm financial crisis in the past several years is testimony to this. It eases the effort of obtaining aedit if you are employing a level of farm financial management, suggested Bearss. Many fanners especially those over 40 years of age feel beleagured. They have dealt faithfully with the Indumw Co-op, for example, for years and now the Co-op /manager Dave Dawson wants te know every- thing about your operation right down to "the colour of your underwear". The kinds of questions asked by trade creditors are seriousjhe more money you Want to borrow, said Bearss. Questions asked to make a credit decision include the three Cs of credit: Credibility and Collateral. Lenders have moved away from using the balance sheet, where equity was important, to gash flow as the basis for credit dedsions, said Bearss referring to the biggest reflection of change in farm financing in this country. Ftdm a lender's point of view, you have priorities but your willingness to deal with the guy is the comer stone of the relationship. "No matter what his assets, if you cannot trust the guy, you will no want to deal with him," Bearss stated. Farmers at the seminar criticized the bank's role in the 1982 interest rate crisis which has created such hardship for farmers. They pointed out the banks made unpreced- ented profits during that period, yet they were not willing to take one cent less in interest from financially hard pressed farm- ers. Bearss commented fanners think the banks made their profits On the backs of fanners, yet if all the money earned in profits during the time period of 20 per cent plus interest rates had been eliminated, it would have reduced the overall prime rate by only one per cent. Beams also observed that if the difference between the average interest paid during that period and the lowest interest rate if it had been in effect •for that period, makes the difference between making or breaking your operation, you were probably running the operation on too tight a basis. The farmers at the seminar objected saying they were expected to take responsibility for making bad credit decision while the banks, which also made poor credit ,decisions by lending too much money to farmers incapable of servicing the debt, were not expected to share the burden. Bearss pointed, out that if fanners wanted to drange the rules in the middle of the game, When they had good years and madepnofits, the banks could then come back and expect additional interest payments from the farmers, if banks were expected to lower interest charges or realign the debt when tartness were in a crisis due to high interest •Close -coupled to 3 or 5 h.p. Briggs & Stratton or 7 h.p. Tecumseh engines • 11/2", 2" or 3" sizes for flows up to 250 GPM - •Working pressures up to 45 psi. •30% glass -filled polyester construction •Vlton and stainless steel shaft seal with EPDMO - rings and check valve *Stainless steel interior and exterior fasteners *Light weight and portable. Pacer Pump can be used for Pumping *Lasso •Treflan •Atrazine •Liquid Nitrogen Saltation' *Phosphoric Acld Solution •Malathion •BIcep •Eradicane •Surflan • Banvel *Dual •Sutan •Sevin 4 011 • Amiben •Basagran •Tolban •Modown •Mocap 0N -Serve 24 •Avedex BV •Avedex , •Eptame •Vernem 528-3913