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Strong markets and higher pri ices have encouraged more Alberta farmers to expand and improve their farms using loans from the federal goverment’s Farm Credit Corporation. The current boom in Canada's agricultural economy has put more money into the hands of our farmers and many want to increase their output by expanding their operations. Between April 1, 1973, and February 15, 1974, the number of approved FCC loans in Alberta jumped about 62 percent of 1,391 from 820 during the same period last year. These approved loans to talled about $62,000,000 for a stag gering 119 percent increase over the previous year. The national average also in oe sharply as the FCC appro ved more than 8,000 loans for no than $360,000,000. This rep resents an increase of about 106 percent compared with the same period last year. Ontario recorded the biggest jump with an increase of 136 percent. These loans can be used to buy more land, construct or modernize farm buildings, drain or improve farm land and make permanent improvements. The money may also be used to buy livestock, nec essary farm equipment, discharge liabilities or for any purpose the FCC rules will improve the effi ciency of the farm! Last year's trend was towards buying more farm land as about 48 percent of FCC loans were ear marked for that purpose. FCC offi cials expect the trend to continue this year to varying degrees. New borrowers wanting to buy farms were the next most signifi cant group followed by — persons wanting to make permanent im provements to their farms. Smaller loans for livestock and farm equipment were largely hand led through banks and other offi cial institutions. The national trend towards loans for younger farmers also continued this year as loans to farmers under 35 years of age rose slightly to 48.4 percent from about 47 percent last year. Al berta figures indicate that 45.5 per cent of FCC loans were made to farmers under 35 years of age. Additional information concern ing Farm Credit Corporation loans in Alberta may be obtained by writing 400 Chancery Hall, 3 Win ston Churchill Square, Edmonton, Alberta, TSJ 205, or by calling 429- 5251. Additional information concerning Farm Credit Corporation loans in Alberta may be obtained by writ ing 400 Chancery Hall, 3 Winston Churchill Square, Edmonton, Al berta, 251 205, or by calling 429- §251. Edward and Debbie were mar ried in Calgary on March 23. Con gratulations: We were smitten with the flu bug for two weeks, thus missing! Marchuk very ably accompanied the whole Music Festival. Vera Ross Ferby with the East End School choir - grades 4 and 5. They won and are qualified to go to Banff end of May, to partici pate in the Festival there. Re member what happened last year whn they went - a foot of snow in Banff, Marzhal Diachuk brought his mother home last week. She has been away with relatives in Fer ni and Kelowna, following the passing of Mr. Diachuk. We are happy to see Walter Snaychuk home after undergoing surgery in a Calgary hospital. Annie stayed with daughter Ora and Roger Wakaruk and small son, to be near Walter. Anton and Eva Bachynski are and Julie are looking after the away in Edmonton, brother John business. Diana Keeping made a flying trip to Montreal for four days to attend a Seminar pertaining to her job. Birthday wishes to our daught er Diana o ..arch Si, a happy 6 to Deanne Poland, grand daught er of John and Priscilla Bodor March 30, and to our friends in town Gary and Dianne Pallesen a happy lith wedding anniver sary, on March 30th. The sincere sympathy of the community is extended to Billy and Laura Worman and families upon the passing of Bills mother Mrs. Sydney Battle in Vancouver! I am told that the Wormans were’ old time residents of Wayne la ter moving to Calgary, then Van couver, Mrs. Battle is survived by 6 sons and three daughters, and all but one son were able to attend the funeral in Calgary..' Bil came out from Grande Cache for a week, grandsons Danny and Shirley Worman from here, Da vid from Edmonton, grand daug hter Dianne and Gary Pallesen from here and Miss Debbie from Calgary were all out. Eu iN is 7
Newspaper Details
Drumheller Mail
Drumheller, Alberta, CA
Wed, Apr 03, 1974
Page 11
Full Page
Clipped by
Susan C.
NA, 20 Jul 2026
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