The Mail-Journal, Volume 20, Number 31, Milford, Kosciusko County, 17 August 1983 — Page 5

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PLAN AUCTION — Members of the Milford Lions Club’s auction committee are pictured above as they plan for the September 10 event which will feature both an auction and flea market. From left are co-chairman Don Wolferman, club president Dr. Bruce Lamb and co-chairman D. G. (“Bud”) Seely. Persons wanting mor^information on the auction should contact one of the above Lions or the Milford Large Animal Clinic. The auction and flea market will be held at the clinic beginning at 10:30 a.m.

"CRUZIN AROUND 'CUSE"

(Continued from page 4) neighbor who has left a large German Shepherd mix dog chained out in the hot summer sun with no water — something they consider criminally inhumane. The dog so chained is on Fascination Way in

250 cumulative building fund established at Syracuse

The .25 cents per SIOO of taxable property tax increase approved last week by the Syracuse Town Board to establish a cumulative building fund, presumably to build a new Syracuse Town Hall, will result in about a five per cent increase to taxes. The assessed valuation of a property, which depends on a number of different criteria, including improvements, lot size, location, frontage, etc., is the guideline to use in determining the increase in taxes. Town attorney Bob Reed, who wrote the resolution establishing the fund, says the fund is not unusual. “The town should have started one of these 20 years ago,” Reed said. The Lakeland School System has a cumulative building fund which also now charges .25 cents per SIOO of taxable property. When it was started, the school

Letter to the editor

I believe that too, but —

Dear Editor: I have been impressed by some of your editorials about shopping at home. I, too, believe that to be the best policy unless those are more merchants here like what I’m about to describe. My two sons, both in their forties, one from Raleigh, N.C., and the other from Honolulu, Hawaii, played golf at South Shore and on the way to my house stopped at Dairy Queen and spent well over four dollars. They asked for a glass of water after eating their

:jfl V I 111 111 I 111 li| l&< IbcM ito** WHI BmmmSKKSSm •■*» I i ■■HI . x IHI X ;■ >TI ..= We Have Money to Lend There are a lot of reasons you may need extra money YouVe outgrown your home and are looking at a new one. Your present home needs improvements to maintain its value. You need a new car. Or its time to pay college tuitions for your children. Whatever you need. Lake City Bank has the money to lend. Our rates are competitive. And we work with you to tailor a repayment plan that fits your budget. Stop in any Lake City Bank office and talk with one of our loan officers. Well show you how a loan from Lake City Bank can be affordable right now...when you need it. Oake City Bank Memtx-r tl >l< t=J / An l.qiud IKhisimu l.t-ixh-r ' ©NKiLake t in Bank

the Enchanted Hills area, just off Highway 13-A, near the Wawasee Dental Clinic. The incident has been reported to a Mr. Riffle of the Kosciusko County Humane Society on two occasions — “and all we got back was a lot of bureaucratic double talk”, is the way their response was characterized.

system levied a .40 cents per SIOO of taxable property which was reduced in 1980. George Gilbert, assistant superintendent, says this is a popular means of raising funds for new buildings and repairs. The school system recently rebuilt the air conditioning unit at Wawasee High School at a cost of about $30,000, with the funds. The cumulative building fund established by the Syracuse Town Board requires it be used for only certain purposes — the board cannot dip back into the funds raised for another use. According to the 1984 budget figures proposed, this fund will raise $44,185 in its first year. The tax is to be levied for five years. The fund is limited to the following purposes: • To purchase, construct, equip, and maintain buildings for municipal purposes;

banana splits and the manager gave them a one-ounce paper cup of water. They asked for a larger cup and he said the one-ounce cup was 10 cents and the larger container would be 30 cents. Would you blame me or anyone I can tell to go to North Webster, Nappanee or Goshen? The treatment gained would be well worth the drive. A black eye for Syracuse, Dairy Queen, because of a greedy merchant. Claude Boland

• To acquire the land, and any improvements on it, that are necessary for the construction of municipal buildings; • To demolish any improvements on land acquired by use of funds from the cumulative building fund, and to level, grade, and prepare the land for the construction of a municipal building; • To acquire land or rights-of-way to be used as a public way or other means of ingress or egress to land acquired for the construction of a municipal building; • To improved or construct any public way or other means of ingress or egress to land acquired for the construction of a municipal building; and, for any and all other legal and proper uses and purposes without limitation. The cumulative building fund, as with the entire budget, is pending approval from the town board and the state. According to the current Kosciusko County Tax Rate in Turkey Creek Township, if a Syracuse landowner had SIO,BOO in assessed value, for example, the landowner would be charged $602.64 in taxes. With the proposed building fund, it would raise the annual amount owed to $30.74. If $8,750 of property is owned — bpth personal property and real property — the tax rate would be $485.25, resulting in $21.88 increase with the fund. Enough said Ntepypeople who are too polite to-tartk with full mouths think nothing of talking with empty heads. —Gosport, Pensacola

Lenders are coping with financial stress

Although several small rural commercial banks failed during 1983, most lenders are coping well with current stresses in financing agriculture, say Pete Barry, University of Illinois professor of agriculture economics and Warren F. Lee, Ohio State University professor of agriculture economics. Speaking at the annual meeting of the American Agricultural Economics Association at Purdue University the professors recommend three innovative practices that could help both farmers and lenders through current economic conditions. They are: — Graduated payment plans that could partially resolve cash flow problems for farmers purchasing land. — Floating-rate loans with fixed payments and variable maturities that could help to reduce risks. — And financial futures that could be used by some lenders to help stabilize prices. The team pointed out, however, that the best prospects for both lenders and borrowers rest with brighter farm income conditions and stronger asset values. Perhaps mid-1983 is a turning point for financing agriculture said Barry, because inflation has abated, interest rates have declined, the season for farm sales has passed, farm loan demands have slowed down, price support loans and deficiency payments have increased and the PIK program has cut acreage reduction operating costs. But in spite of this apparent turnaround, Barry predicted a large percent of agricultural borrowers will continue to have serious situation from becoming worse, he said. During the 1970 s and 80s farm incomes fluctuated to the point of crating one of the deepest and most widespread recessions known to agriculture since the 19305. At the same time, high and volatile interest rates contributed to changes in financial institutions regulations. Together these conditions impacted hardest on owners of, and lenders to, large farmers with substantial debt and who were highly leveraged. As incidences of delinquencies, loans being liquidated, customers .being discontinued, foreclosures bankruptcies and workouts increased lending costs went up, lender frustration increased and lending institutions re-evaluated credit standards and loan policies. In their study, the researchers looked at commercial banks, the Farm Credit System, government lenders such as Fanners Home Administrations and Commodity Credit corporation and private lenders. The team studied six major sources of risk to financial institutions: credit, investment, liquidity, cost of funds, financial and regulatory. They further identified the three major sources of risk for agricultural banks to be credit, cost of funds and regulatory. Although commercial banks have a substantial involvement in financing U.S. Agriculture, their share of farm debt has declined since the mid-19705. Smaller community banks in strong agricultural areas are the most heavily involved in farm lending. These banks rely mainly on local markets for sources of funds and ending activities and are the most vulnerable to adverse farm loan experiences, Barry pointed out. Besides diversification rural banks have mainly relied on holding reserves and other sources of liquidity to manage credit risks. Smaller banks typically have less of their assets in loans and lower financial leverage than larger banks. Even so, the recent changes in agriculture and in financial markets have combined to increase bank risks.

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A mid-1982 survey by the American Bankers Association indicated that 3.9 per cent of the bank’ farm loans were delinquent for more than 30 days, and that banks discontinued financing 3.3 per cent of their farm borrowers from mid-1981 to mid 1982. However, over one third of the bankers reported the quality of their farm loan portfolio still exceeding that of nonfarm business loans. The researchers reported that many agricultural banks are working closely with farmers to conserve cash flow, carryover loans, defer and reduce expenditures and see the farms through adverse times. This has happened as a result of the bank’s own efforts and through closer coordination with FmHA. Bankers also have sought grater flexibility from bank examiners and regulators. Results of two recent studies indicate that many banks should be and are adapting more sophisticated loan pricing and asset-liability management to cope with deregulation and cost of funds risk. These methods include the use of floating rates, risk pricing, varying maturities, accounting for customer deposit balances, more precise cost accounting and market segmented price discrimination. Generally speaking the researchers note, most lenders appear to be handling higher credit risks. They have done so through changes in leverage and by utilizing reserves, arranging customer workouts, and pricing to cover the necessary changes in loss rates lending costs and capital structure. Some of these techniques, however, have added to the borrower’s risk position and may curtail his’ near term performance. But most of the responses also have helped assure the longer term viability of many farm businesses, the future availability of financial services and the lender’s role as a valuable source of liquidity for farmers. “The bank coping techniques also have lessened the need for additional public credit programs or legislation such as moratoria on foreclosures,” Barry adds. » * I BIRD PROMOTED — Chuck Bird has been promoted to project engineer at Chore-Time, it was announced recently. Previously an engineer, Bird will now be responsible for all FlexAuger, Multiflex, and Dairy Feeding Equipment projects. Bird joined Chore-Time in 1973 as a detail draftsman. He holds two associates in science degrees from I.V. Tech College in Fort Wayne, one in mechanical engineering and the other in manufacturing design. He and his wife Debra live in Milford. Volcano and acid rain Large concentrations of sulfur-bearing droplets from a Mexican volcanic eruption are floating in the stratosphere and may be slightly increasing rainfall acidity, government scientists reported recently.

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GRAND OPENING — Jessie’s Ladies Apparel, specializing mainly in sportswear, will celebrate its grand opening this Thursday, Friday and Saturday, Aug. 18-20, in their new facilities next to Beer Realty on SR 13S in Syracuse. In addition to sportswear, Jessie’s offers jewelry, yard goods and accessories during their operating hours Monday through Saturday from 10 a.m. until 6 p.m. Store personnel pictured above from the left are: Stacy Clark, Leann Culbertson and Jessie Rock, owner. (Photo by Gail Widmoyer)

It happened ... in Milford

10 YEARS AGO, AUG. 15,1973 Members of the Milford town board instructed attorney William I. Garrard to draw up an ordinance requiring all blocked alleys in town to be cleared. The instructions were given at the boards regular meeting Monday night. Alex Morris, a resident of Fourth street, Milford, was recently named regional coordinator of the Fort Wayne-South Bend Diocese, department of the Spanish speaking people. He will maintain his office in the United Mexican American Community Center in Milford. His jurisdiction is from Warsaw to Goshen and from Plymouth to Syracuse. Alex and his wife Martha have five children: Benny, 13; Alex, Jr., 12; Ernest, 10; Grace, 6; and Albert, 3. Mrs. Wilbur Rensberger, a guest of the Lakeview Pythian

Couple says Faith Assembly destructive

Calling a local church established in Kosciusko County a cult, a former member of the Faith Assembly and her husband spoke to a crowd of 200 about a lawsuit they plan to file against the church founder, Hobart Freeman. Nigal Oleson said Monday night she was brainwashed by the group and almost had a nervous breakdown, but she said there is hope for people who want to get their loved ones away from the religous sect. “If I would have known what a cult is all about, I could have spotted them with a 10-foot pole,’’ Mrs. Oleson, 28, said before the group gathered at the First United Presbyterian Church in Warsaw. “I couldn’t compromise. I was so close to a nervous breakdown because of what the Faith Assembly did.’’ The Faith Assembly, based in the Noble County town of Wilmot, was started in the Warsaw area by Freeman in the 1960 s and was headquartered at the Glory Barn near North Webster for a number of years. The group’s practice of shunning medical care in favor of spiritual treatment has been linked to at least 53 deaths across the country. The most recent victim linked to the Faith Assembly’s belief was six-week-old Nathan Todd I r I■/ CARPENTER NAMEfD MANAGER — Rodney Carpenter has been promoted to the position of manager of engineering for Brock Manufacturing, Inc., it was announced recently. He will be in charge of all design engineering projects for the company’s grain, feed and industrial bin lines. A registered professional engineer in Indiana and California, he joined Brock in 1979 as project engineer. He has a bachelor of science degreee in .agricultural engineering from the University of Kentucky. He and his wife, Debbie, live in Goshen with their daughter. Ashley.

Wed., August 17,1983 —THE MAIL-JOURNAL

Post Chiefs served as hostess for the August meeting at her home on r 1 Milford Wednesday night. During the business session, Mrs. Rensberger was inducted to membership in the club. 20 YEARS AGO, AUG. 15,1963 Mrs. J. G. Wolford and Joe of Oswego were last Wednesday callers at the home of Mrs. Walter Nyce and Vicke Sue at Milford. Mr. and Mrs. Carl Duncan of Milford entertained the men and their families who planted Mr. Duncan’s corn and beans this spring at a chicken barbeque last Sunday evening at their home. Those present were the Maurice Beer family, Virgil Zimmerman family, Leon Tucker family, Mr. and Mrs. Elmer Rassi, Mr. and Mrs. Albert Knobel, Mr. and Mrs. Ezra Beer. Mr. and Mrs. Ralph Neff, Mr. and Mrs. Harold McKibben, John Martin, Jr., and

Hill who died last week after suffering from a fever for a few days. His parents belonged to the church. The Olesons are holding meetings to raise money to pay the legal fees for the lawsuit, which David Oleson, 29, says is not going to be a religous issue. Oleson described his relationship with his wife after she started attending services and meetings with the church as “one ugly, continous, argument.’’ “She came home one day and said she would not go to the hospital if she became sick. She said if our daughter Amber got hurt, she wouldn’t take her to the doctor. And she said she would not take me to the hospital if I got hurt,” he said. “We had a wonderful marriage. We loved each other, we were happy. But as time went on, this group totally disintegrated our marriage.” The Olesons told the group they planned to sue Freeman and the Faith Assembly because it almost destroyed his family. He also blames it for the stress that caused his father’s death while Nigal was being deprogrammed. The suit will concentrate on Faith Assembly’s method of mind control, recruitment and efforts to keep people in the group to serve as a deterrent to other groups he described as cults, not on religous issues. Donation cards were distributed before the meeting, and the effort is being aided by the Citizens Freedom Foundation Inc., a non-profit group based in New York which maintains research, referral and speaker programs about the cult.

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Mike Zimmerman, Jr., all of Milford. Mr. and Mrs. Merle Fox of Watervliet, Mich., were recent guests of Mr. and Mrs. George Keller of Dewart Lake. Mrs. Fox is a sister of Mr. Keller. Mrs. Dewey Losee of Rice Lake, Wis., is visiting with her son-in-law and daughter and Mr. and Mrs. Daryl Johnson of Milford. Mr. and Mrs. Marshall Estep of Milford were Sunday dinner guests of the Floyd Gallbreath family of Elkhart. Mrs. Estep and Mrs. Galbreath are sisters. 30 YEARS AGO, AUG. 13,1953 The Town Board of Milford has set up a budget calling for a tax levy of sl.ll for 1954, according to a statement issued this week by town clerk-treasurer Elmer Hartter. This year’s tomato pack should get underway next Tuesay, according to Don Cecil, of the Cecil Food Processing Company, Tuesday will open the sixth season for packing tomatoes at the local canning plant. Mr. and Mrs. Duane (Skip) Graff have purchased the James Griffith property on South Henry street. * Alan Wuthrich returned home Tuesday from Morton, 111., where he had been visiting his grandmother, Mrs. Carl Rassi, for the past ten days. Mr. and Mrs. O.L. Baumgartner and daughter Janet have returned to their home at Ottumwa, la., after a several week’s vacation with Milford relatives. Roger Baumgartner returned with them for a visit. Mr. and Mrs. Bill Tom, of Elkhart, Mr. and Mrs. Ray Sorensen, and Mr. and Mrs. Don Wolferman are leaving Saturday for a week’s vacation in , Michigan. 50 YEARS AGO.AUG. 17,1933 Mesdames D. W. Hastings and Elmer Doty and Bert Mann of Goshen, motored to Napierville, 111., last Thursday where their nephew is seriously ill. The party took in A Century of Progress or their return. Mrs. Howard Love and Altha Mae were in S. Bend, Tuesday visiting relatives. Mr. and Mrs. Shirl Clayton and son, Jimmie, Miss Betty Weisser and Ben Knoshen of Goshen, were in Saint Joe and Benton Harber, Mich.. Sunday, as guests of the Clyde Fetters family. On Tuesday afternoon a grass fire started along the Big 4 right-of-way that aroused the attention of many people and required the services of several men before it could be extinguished. It spread ■along the fence backjdL the Ira Chupp property where some buildings were standing. Marshal Bushong and son assisted by others soon had the flames checked.

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