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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 03, 1963
Page
6
The Farmers Home Administration reported 1962 loan activity with a record $754 million lent, triple the 1960 level and up 50 percent from 1961. About 214000 rural families borrowed, including 223 million for farm purchases and equipment and 179 million for rural housing.
Chicago based Armour and Co announces immediate construction of a cattle slaughterhouse in the Sterling Rock Falls area of Illinois. The move signals expansion in midwest meat operations and aims to improve processing capacity.
The National Farmers Organization plans a state legislative convention next Monday at 10 am in Memorial Union at Iowa State University Ames. County delegates will be named by same basis as recent Des Moines NFC convention delegates. Proposals should cover agricultural matters. Armour plans slaughterhouses in West Point Nebraska and a site in northwestern Iowa.
The Agriculture Department estimated total farm debt on Jan 1 at about 29.3 billion dollars, up 6 percent from 1962. ERS cites continued credit use due to consolidation, higher real estate prices, and increased capital investment, with loan funds ample and rates easing slightly. Debt to asset ratio rose to 13.7 percent as debts grew faster than farm asset values.
Linn county 4 H and FFA members weighed in 304 baby beeves last week for the 1963/1 project year. This is three more than last year. The breed breakdown was Angus 154 Hereford nl and Short horn 39.
A damaged notice lists sales of livestock machinery hay and grain near ReaMi 7 miles south west of ReaMi and NE of Belle Plaine with two executors or auctioneers named Richard H Jahnke and Jimi. The Wednesday sale includes 10 12 miles closing cut sale.
The Towa Holstein Breeders Association hosts an open house January 12 at the Owen and James Tompkins farm near Marengo to honor Kalarama To'Mar Peavine Sabina for production. The event, beginning at 10:20 a.m., will include a dinner and program as area 4-H members and locals hear about record production and state standings.
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