The Lucknow Sentinel, 1985-12-25, Page 3Ivan Mielhausen, former warden of Bruce County, passes the gavel .to Doug Thompson of
AlbermarleTownship, who was voted in as warden at a county council meeting Dec. 10. .
Thompson says he sees five major projects that will be priorities in council business In the
next year: the park at Tobermory, the Krugg Furniture Factory In Chesley, the Steam pipe
line, the power line out of Douglas: Point and the Grey -Bruce Regional Health Center. •
[Corhme Boyle photo]
Bankers want personal dealings
By Stephanie Levesque
Bankers want to deal with farmers on a
one to one basis without being told to do so
by government legislation,- according to,
representatives of these financial
institutions, who squared offwith about 15
members of the Huron County federation
of agriculture on Dec. 5. Snow and other
agriculture related meetings reduced the
number in attendance.
The ' informal discussion between the
Canadian Imperial Bank of Commerce
(CIBC); Farm Credit Corporation (FCC),
and thea Royal Bank and the federation
took the form of the federation's monthly
meeting which was held at Hensall public
school. .
The debt review board, .and.'a possible
farm credit arrangement act were the two
main items discussed.
The three representatives said they and .
their firms are willing to work with
farmers on an individual basis to come to a
satisfactory solution on financial matters.
"L'm hearing from - all three .of you, a
willingness to consider deals,"
commented federation director Maira Van
Bommel of RR 1, Dashwood. She went on,
"Why are banks, opposed to," debt
restructuring legislation?"
"We don'twant legislation telling us we
have to write down loans. It wasn't the.
government that told you; yen had to come
in. and borrow money," said Steve Fraser
of the Royal Bank in Clinton.
George Spence .of. Walkerton; district
manager for the Farm Credit Corporation,
said he personally , is not ' in favor of
legislating farm credit arrangements.
"We still prefer to deal with each
situation individually," . said John Harris
of the CIBC in London. "We still feel we
can work a solution out."
Van Bommel noted that farm credit
arrangement legislation wouldn't
necessarily require financial institutions
to write down a loan. A judge, .she says,
would make the final decision after both
the farmer and creditor have agreed to go
that route. She also criticized the FCC's
current moratorium on farm foreclosures.
"Whatis the Farm Credit Corporation
doing - saving face over Christmas?"
asked Van Bommel. .
Spence also said he isn't happy with the
moratorium. As far as , he knows; no
program has been developed to handle the
debt problems once the moratorium period
• is over.
"The FCC moratorium - what is it
doing? The interest clock isstill ticking on.
It's like a referee blowing a whistle while
the two •sides calm down," said the
federation director. Spence agreed.;,
The Farm Credit Corporation's district
manager spent some time discussing the
debt review board of which he was a part.
"It's hard, for the limited numbers we
had, to know how successful it was," said
Spence. .
He said 85 farmers In Grey and Bruce
Counties 'applied for thereview and,only
twenty-three • were granted • hearings.
,From the hearing stage, four cases went
on to . the "creditors, said the district
manager: Spence said, the debt review
board did not carry on until the end as it
should have.
He said not all'"members of the board
could agree on all points in preparing a
report onthe review board. Spence and
others on the board feeling thesame way,
.wrote a separate report.
"We couldn't always get cases heard.
There were some real organization
problems," said Spence. "
In .thanking the panel / members,
federation member Chris Palmer of RR 5,
Wingham commented that low commodity
prices are at the root of the farmers'
problems.
NEW YEAR'S LEVEE
Murray and Betty Cardiff would ' like
the pleasure of your company at the
second a inual New Year's Levee. It
is" a tradition for people to get
together to celebrate the NEW YEAR
with good talk,- good music and
good cheer.' Please join yrs for o'ur
second annual
NEW YEAR'S LEVEE
DATE: Wednesday,'January 1, 1986
TIME: 2:00 to 5:00 p.m.
PLACE Brussels, Morris 8 Grey
Community Centre
-HAPPY NEW YEAR-
MURRAY CARDIFF, M.F.
Lucknow Sentinel, Wednesday, December 25, 1985—Page 3
At this happiest time of year, we take great jay in expressing our
sincere thanks to all our patrons.
DOREEN AND VICKI
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IN EFFECT DECEMBER 18TH, TO DECEMBER 28TH
Umbach Pharmacy
Lucknow
528-3004