Winnipeg Free Press

Winnipeg Free Press (Newspaper) - March 18, 1987, Winnipeg, Manitoba Winnipeg free March Farmer Bruce Mclntosh Centre listens intently at Carman seminar on farm financial upswing in agriculture forecast we Are almost at the Bottom of the big banker tells Farmers by Mary Ann Fitzgerald Winnipeg free press Carman the crisis in agriculture is expected to hit Rock Bottom this year before slowly beginning to turn that was the Good news Given to 325 Southern Manitoba Farmers who braved a March snowstorm yester Day to take in a Daylong seminar on financial management staged by the Carman farm business association and the Manitoba agriculture the general feeling is that we Are almost at the Bottom of the big John manager of the Toronto Dominion Banks Agri cultural division told the and then we will begin a slow Stuart the Royal Banks manager of agricultural services for added the ecstacy of the 70s has turned into the pessimism of the were sitting Here together in a hell of a the pondering Spring seeding listened soberly As a panel of government officials and agricultural leaders told them 30 per cent of the provinces commercial Farmers Are in financial Doug general manager of the Federal farm debt review said the picture was not totally the which can impose a four month moratorium on creditors to buy mediation time achieved 14 Nicholson slow climb agreements in its first 50 cases for debt repayment with Little disruption to the farming another five agreements were reached requiring Farmers to sell or give up a substantial amount of their land and seek Par time off farm three banners declared voluntary bankruptcy and others Are still negotiating or have withdrawn their applications for the system does work not in All Gourlay so the Federal Board has received 135 applications from farm ers on the Brink of insolvency and another 81 from Farmers in financial no figures Are yet available on the caseload under Manitoba newly proclaimed family farms Protection act provision requiring Banks to file notice of foreclosure in the courts and justify the action before a mediation Farmers were told even if they could sell some of their land to improve their they would have to accept bargain basement i think were a year away from a Nosell Nicholson Farmers will not be Able to use land As collateral for the Banks dont want Farmland in their Bond Farmland value has dropped by 20 to 40 per cent from the Peak values of the agriculturally affluent 1970s and Early Nicholson Elie Grain Farmer Ron Lachance said in an interview the Price for land around Winnipeg has dropped to Between and an acre from peaks of to in Western the Price is Down about an acre to land prices will never completely Lachance a return to the fun is it ended for Larry Gibbs three years ago when he left his Portage la Prairie mixed turning it Back to a farm credit 1 didst declare Gibbs said in an i quit before things got too far i still had to support my he works As an advisor for a Manitoba Indian agriculture pro Manitou lawyer Larry Selby and weather Winnipeg area forecast Cloudy today with morning rain High near Cloudy tonight with a Low near Cloudy tomorrow with occasional sunny High near probability of precipitation is near 70 per cent 20 per cent tonight and 10 per cent Outlook Southern Manitoba mostly Cloudy Friday with a Low near High near mostly Cloudy saturday with a Low deaths near High near mostly Cloudy sunday with a Low near High near Northern Manitoba mostly Cloudy with flurries Low near High near mostly Cloudy with flurries Low near High near mostly Cloudy Low near High near new Home found for gallery an Art gallery that had to vacate the University of Manitoba University Centre to make Way for a restaurant will be relocated in another a student spokesman Allen University of Manitoba students Union communications said the Janet Ian Cameron gallery will be set up late this year or Early next year in the basement of University moving the gallery stirred a controversy last year when supporters objected to it being forced from the heavily frequented Centre to make Way for including a City Calendar Csc radio drama producer Martin Fishman addresses the Canadian authors Manitoba at 8 tomorrow in the Winnipeg Centennial Library All the University of Manitoba University choir per forms Benjamin Britten at Friday at the u of m school of our mistake a Story yesterday said wrongly that apartment Deve Loper Martin Bergen lives on Litz in he lives on Appleton classified death Northwestern Ontario mostly Cloudy Friday with a Low near High near mostly Cloudy Low near High near mostly Cloudy Low near High near National 12 Thunder 4 8 7 3 2 3 5 13 2 0 1 3 0 3 2 2 1 3 7 4 6 2 International 8 Minneapolis new Geneva Winnipeg comparisons mean March lost highest on record in 1938 lowest on record in 1875 precipitation local from to March 17 Millimetres Normal yesterday 2 11 2 8 2 17 6 0 10 2 3 2 5 1 18 12 i 7 19 4 0 9 9 2 9 2 i 6 Tel 17 10 7 l resort spots Loo Clear 19 ii Las Cloudy 20 9 22 n Clouds 30 23 Clouds 27 10 Clouds 26 20 rain 17 11 Clouds 26 13 air 32 21 Clouds 30 25 Clouds 28 17 of widower of Gil berts Antonio of Hus band of Alice husband of Anna Cvetko Cecil of Sherwood husband of Pat of wife of George widow of Clifford Helen of widow of James of husband of Alice of notre Dame de widow of Chester wife of John husband of Irene Orton Maurice widower of Mary Mary of Albert of Stanley of formerly of of Eleanor widow of John Clayton of widower of Mildred of formerly of Vised Farmers that the fact that Banks dont want their land May give them a Glimmer of As soon As they get the value goes he adding the Banks dont want the land it is possible to negotiate Nicholson said the Binge in Agri culture began in 197374 with unprecedented profits and High demand for profits remained Over the next five but rising land values began to drive them in 1981 to the Binge was Over and the hangover was he interest rates Rose to 20 per cent or More and the debt Load which seemed tolerable in prosperous limes became a this business is a massive rollercoaster Nicholson the panellists repeatedly told Farmers to be astute businessmen and to communicate with their Bank provincial budget helps make 1987 year of tax bite Surprise 1987 has become the year of the tax in less than three Man have been nipped by d a 13percent increase in Tele phone a five percent hike in Hydro which was almost doubled this week when the Pawley governments provincial budget tacked on another per cent effective april d aut Opac premiums that Rose by per d property reassessment that has hundreds of Winnipeg taxpayers d a Federal budget that slapped a 12percent Federal sales tax on snack including Popcorn and potato added one cent a litre to the excise tax on Gaso line and dipped a Little More deeply into the take Home pay of working d a provincial budget that plucked million from corporate and consumer pockets through a on percent increase in a sales tax that now will be More broadly a much stiffer payroll tax for big Busin higher personal taxes for Banks and Large and More tax on cigarettes and its gone too far too said the Man who identifies himself As budget watcher id been expecting his weve been talking for two years after every Federal and provincial he called last month to Savage finance minister Michael Wil sons Federal typically read the notes i took Dur ing that unfair to the working Man out of touch with whats happening in various parts of our Beautiful budget watcher Bill wont Tell me his last All hell reveal is that Hes a retired Butcher who Doest get out much because a lung condition keeps me at Bill gets his entertainment from watching the House of com Mons and legislature debates on sometimes i get so Barry mull Damn mad i have trouble control Ling like after i see no end to higher taxes and More government waste and mismanagement than any Normal Man can he called about finance minister Eugene Kostyra provincial whens enough enough he they the nip blow million or million on this mix lose Money on aut Opac and government sell flyer for a song and then raise a Host of higher payroll and corporate he dont hit Busi Ness because they just pass them along to you and me consume he said Kostyra budget Likely wont hit it May help me because i dont spend much any Bill said Hes More concerned about Young people with families and those looking for it must be discouraging for because they see everything going up and pay cheques that cant stretch As far As they once those Are the ones i worry weve saddled them with the Federal and provincial Defi John president of the Winnipeg chamber of com worries about them in really Doole said after he had 18 hours to digest the budgets i really do feel that future wealth creation has been mortgaged by this govern Consumers and the unemployed will pay the Cost of the payroll he because it will be passed on to the consumer and hiring May drop Only youll find on our 41 h floor weve collected merchandise throughout the it All on one priced it at or off for one Day Only now you can own the very Best Marble italian famous names like Gordons and Quality furnishings for your dining living room and More All on one floor for your shopping convenience All at sensational onetime savings Row a Small selection of the hundreds of null pc Lull Honolu und love iat Bolh 3499 of Sqq Price Kilerl Uincent Colfi Rug 799 399 Price hand carved Hunch Ufa and Reg 2999 bed Rug 1199 599 Park i pee bit Bavel gloss lop dining Reg 999 499 Kroehle swish rockets from imported lacqui1 cocktail find tables Choice si99iacm leg imported mom ac1yiic and ch1ome folding game Haiti 1129 Many items one of a limited immediate All sales no delivery charge credit plan take advantage of our special budget Penthouse i i h 100 Princess Street phone 9420445 ;