HomeMy WebLinkAboutZurich Citizens News, 1975-05-22, Page 18PAGE 18
ZURICH CITIZENS NEWS THURSDAY, MAY 22, 1975
Married in Zurich
ELLIOTT - GASCHO
Glen Gascho, son of Mr. and
Mrs. Kenneth Gascho, of Zurich,
and Carol Elliott, daughter of
Mr. and Mrs. Fred Elliott of
Brucefield, were happily married
on April 18, 1975. Rev. Clayton
Kuepfer officiated at the evening
ceremony.
Attendants for the bride were
sisters Beverley Elliott, of Lond-
on and Debbie Elliott, Bruce -
field. Linda Verstratean, of
New Market was her sister's
matron of honor.
Guests were ushered by James
Ramer and Earl Gascho, brother
of the groom, both of Zurich.
Groomsman was Clifford Ging-
erich, of Zurich.
Music was supplied by pianist,
Mrs. Irvin Martin, of Zurich.
Duets were sung by Mrs. Clifford
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GREY
TRUST COMPANY SINCE 1889
LOCAL AGENT:
John R. Consitt
236-4382
(Photo by Phillips)
Mennonite Church
Gingerich and Miss Sandra Ging-
erich.
After a wedding trip to North -
ern Ontario, the newly-weds
have taken up residence at R.R.
2, Zurich.
Amendmen s to Fa
Amendments to the Farm
Credit Act increasing the funds
available for farm loans and
n.ising the ceiling on loans to
young farmers became law this
week, according to R.E. McKin-
ley, MP for Huron.
Agriculture Minister Eugene
Whelan said the changes give the
Farm Credit Corporation the flex-
ibility and the funds to do a
much better job for the Canadian
agriculture industry.
Most of the changes pertain to
young farmers and are aimed at
helping persons under 35 years
of age to get into farming.
"The former loan ceiling of
$100, 000 was too low for young
farmers. The new $150, 000
limit is more realistic for the
costs faced today by young pers-
ons establishing an adequate
farm business, " Mr. Whelan
said.
Another change will allow
young persons whose principal
occupation is not farming to
phase into farming over a period
of up to five years. Previously,
the corporation could only lend
to those principally occupied in
farming.
Young farmers will also bene-
fit from a new provision giving
the FCC more discretion in
equity requirements. The corpor-
ation formerly could lend up to
90 per cent of the productive
value of land, livestock and
equipment to young borrowers
who had demonstrated above-
average efficiency. Now a young
farmer who is a competent man-
ager and shows satisfactory repay-
ment ability could receive loans
in excess of the 90 per cent
level.
An amendment which can
benefit all farmers grants FCC
authority to secure loans with
other than first mortgages. Prev-
iously FCC was required to
secure every loan made under
the Farm Credit Act by a first
mortgage.
"Second -mortgage financing
will be a big help to many farm-
ers, " Mr. Whelan said.
"If a farmer has a mortgage
with a favourable interest rate
and repayment terms, he doesnt
have to give it up to get addit-
ional money for capital expansiot
The Corporation can lend to him
on a second or subsequent mort-
gage."
Another amendment increases
the corporation's capital to
$100 million from its former $66
million. That means the FCC
can borrow up to $2.5 billion
from the federal treasury, an
increase of $850 million aver
the former maximum.
The Minister stressed the imp-
ortance of adequate credit for
the agriculture industry.
"Inflation has hit hard at the
things farmers need to produce
Credit Act
food --land, building materials,
seed, fertilizer, animal feeds,
machinery and fuel. We must
make sure that money is avail-
able to carry on farming enter-
prises and to encourage young
persons to take up farming, "
Mr. Whelan said.
Increase
dogtax
in Zurich
(continued from page 1)
for Nelson Riley, to construct
an attached garage with a breeze
way at his home on Walnut
Street,
In other business at the meet-
ing council approved a donation
of $25 to the Canadian Cancer
Society in memory of the late
J.G. Berry, former Huron County
clerk -treasurer. Mr. Berry Pass-
ed away recently.
Another donation of $40 was
made to the Zurich Cub Pack for
delivering copies of the new
Zoning by-laws to residents of th(
Village.
Accounts totalling $36, 397.
46 were approved for payment.
e
Home
1,50
yew Grant.
0
get it? How?
en?
Yd
Ontario understands how important it is to have a home of your own.
And we'd like to help out with a grant of $1,500 toward your first home. It's
part of an overall plan to make more homes available in Ontario. And stim-
ulate our economy. So it's good for all of us.
The answers to your questions can be found in a handy booklet specially
prepared to help you understand every detail of the Grant. For your free
copy, write to: Ministry of Revenue, Ontario Home Buyers Grant,
Queen's Park, Toronto M7A 2C9.
For more information, telephone us (free of charge) by dialing "0" and asking the
operator for Zenith 8-2000. Residents within the Metro Toronto local calling
area should dial 965-8470.
Ontario
William Davis
W. Darcy McKeough Premier Arthur Meen
Treasurer of Ontario Minister of Revenue
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