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FMHA Guarantees Emergency Loans, Livestock, Poultry Financial assistance to livestock and poultry producers under the Emergency Livestock Credit Act will become available this week through a new loan guarantee authority of the Farmers Home Administration iFmHA), a rural credit service of the U.S. Department of Agriculture. Robert Becker, FmHA county supervisor for Cook- DuPage-Kane-DeKalb- Lake- McHenry - Boone - Winnebago counties said the agency is ready to implement the recently enacted law by guaranteeing up to 80 percent of possible loss on loans made by legally organized lenders to livestock and poultry producers. Under terms of the act, the loan guarantee program will be in effect throgh July 25, 1975. It may be extended for 6 months beyond that date if the Secretary of Agriculture determines that it is needed to help the livestock industry obtain sufficient credit. The law calls for loans to be made by banks or other legally organized lenders. Becker said producers are urged to make applications to. and complete loan arrangements with lending institutions. The lender in turn will ask FmHA for a loan guarantee if one is required. The lender will USE TO REMODEL*TO RENOVATE Our Truck Load Paneling Sale Is Still In Progress I 10 QUALITY PANELS PRICED A T O N L Y . . . . SALE ENDS SAT. AUG. 24th 5 95 EA. process the application, close the loan and service it. The maximum loan to any single borrower that can be assisted by an FmHA guarantee is $250,000. Loans will be repayable in 3 years, although renewal for an additional 2 years may be authorized. Interest rates are determined between borrower and lender. Becker said the agency is authorized to guarantee up to 80 percent of the loss a lender may incur on loans to bonafide farmers who breed, raise, fatten or market beef and dairy cattle, hogs, sheep, goats, chickens and turkeys. A majority of the borrower's income must come from the operation, and a majority portion of the borrower's time must be devoted to the livestock or poultry production. In the case of a corporation or partnership, assistance can be extended only when the majority partners or stockholders are primarily Name McHenry Hospital For Wage Violations PAGE 4 - PLAINDEALER - WEDNESDAY, AUGUST 21.1974 The U.S. Department of Labor's regional solicitor has asked the Federal District court in Illinois to issue a permanent injunction to stop alleged violations of the Fair Labor Standards Act, the federal wage hour law. In its complaint the Labor engaged in the livestock or poultry production. FmHA guarantees will be made only when the bonafide farmer cannot obtain financing without a guarantee Loans may not be used to expand operations. Further information may be obtained from Robert Becker, county supervisor, or a member of his staff at his office in Bel vide re. The telephone number is 815-544-3567. The address is Appleton road, Belvidere, 111. PANELING LUS ' 907 N. Front St. McHenry, IL 0 Mon. thru Sat 9 00 Frida 10 - 2 00 Sunday Are You New In McHenry Area ? •••••••••• Do You Know Someone new? WE WOULD LIKE TO EXTEND A ROYAL WELCOME TO EVERY NEWCOMER TO OUR AREA ! ! ! ! ! :V CALL JOAN STULL 385-5418 DORIS ANDREAS 385-4518 J? MYAl WElCtME u4, IF KNOW YOUR AREA-ROYAL WELCOME DOES IT BEST Key Safe & Carefree Driving Tnis Fall Is To . . . TAKE ADVANTAGE OF THESE VALUE PACKED SPECIALS ! Motor Tune-Up: INCLUDES: .Plugs, Points, Condenser, Air Filter, PCV Valve, Adjusting Timing, Dwell & Carburetor. Shocks: "SAVE" Now on 4 Pleasurizer Shocks. INSTALLED -- AIR TYPE EXTRA 4- ALL GENERAL MOTORS CARS-- CADILLAC-PONTIAC $40»« *59 95 Rte. 31 & 120 McHenry, Illinois Phone 385-6000 department named the McHenry hospital, 3516 W. Waukegan road, McHenry. The complaint alleged violations of the equal pay provisions of the Act. The court was asked to ward back pay, as found to be due, for distribution among the employees involved. No amounts were specified in the complaint. Legal action followed an investigation of the business by the Labor department's Wage- Hour Area office, 303 Price Place, Madison, Wis., under the supervision of Jerome Estock, area director. The Fair Labor Standards Act requires the payment of minimum wage rates; time and one-half pay for overtime hours unless a specific exemption applies; equal pay for equal work for both sexes; the keeping of adequate records of employee wages and hours; and restricts the employment of child labor Good for January and February -- that is one time when you can find plenty picnic tables at the park. FAIR DELEGATES -Theie outstanding McHeury county 4-H clothing project winners were delegates to the Illinois State Fair last week. From left, Evelyn Hooker, Crystal Lake; Christie Jurs, Crystal Lake; Cathy Fettes, Huntley; Detuse Hrncar, Woodstock; Sally Harrison, Woodstock; Diane Kuhlman, Hebron, and Lynn McWhinnie, McHenry. (DON PEASLEY PHOTOGRAPHY) Comptroller Asks Legality Of Office Expenditures Comptroller George W. Lindberg said he has asked Attorney General William J. Scott whether the Comptroller may legally pay bills from millions of dollars in the state treasury not covered in appropriations passed by the legislature. "To many people this may seem technical in nature, but it h o l d s e x t r a o r d i n a r y importance, if we are going to have true control by the General Assembly over the spending of the people's money," Lindberg said. "The 1970 Constitution says to me that all public money spent by Illinois state government must be appropriated by the legislature. The question here is simply whether that is going the case. "It is the Comptroller's job in Illinois to watch for eccentricities in the state's spending process. When I find one I'm going to bring it to light. And that is precisely what I'm doing here." The Finance Article in the 1970 Constitution directs: "The General Assembly by law shall make appropriations for all expenditures of public funds by the state." In light of that constitutional language, Lindberg said, he is raising the overall legality of all state spending without a c c o m p a n y i n g s p e c i f i c appropriation by the General Assembly. In addition to the far- r e a c h i n g c o n s t i t u t i o n a l question, which involves about 600 non-appropriated funds, totaling approximately $200 million, from which the state pays bills, the Comptroller is asking the Attorney General to rule on the effect of a restrictive section placed on thirteen Department and Agency appropriation bills by the legislature early this summer. The language would prevent spending of federal funds at levels above those specified in each individual bill without an a d d i t i o n a l l e g i s l a t i v e a p p r o p r i a t i o n . H o w e v e r , grants-in-aid for non-state agencies would need no added appropriations. Lindberg said he also has alerted the legislative leaders that a special session of the legislature will be needed to take remedial action if the Attorney General rules non­ appropriated expenditures illegal. The thirteen departments and agencies affected are Bureau of the Budget; Fair E m p l o y m e n t P r a c t i c e s Commission; Comprehensive Health Planning Agency; Department of Labor; I n d u s t r i a l C o m m i s s i o n ; Play Benefits Heart Fund Michael Poper, Crystal Lake, president of the McHenry County Heart association has announced that the Shady Lane Playhouse Sept. 4 8:45 evening showing of "Cactus Flower" will serve to benefit the heart fund. "Cactus Flower" is a sprightly comedy about a very successful bachelor dentist. Tickets may be ordered by writing to James Hodges, treasurer, McHenry County Heart Association, c-o State Bank of Woodstock, 101 S. Benton, Woodstock. Department of Public Health; Department of Children and Family Services; Department of Mental Health; Department of Agriculture; Vocational R e h a b i l i t a t i o n A g e n c y ; Vocational and Technical E d u c a t i o n A g e n c y ; Department of Local Governmental Affairs and the Illinois Law Enforcement Commission. THE FIRST NATIONAL SANK ffl T"ff'*sr THE FIRST NATIONAL SANK To TM. 5630 70 8Q4 *«««#* ! 197* Dollars FIRS! NATIONAL BANK OP McHENRY •«:o?iR-osom: *qo ooo i* Add to your monthly income without subtracting from your savings. A44 to your monthly Income without attracting from your laving* Purcbas« a J 5000 7 1/4% 5 Year Certificate and receive a monthly check. Now, with the First National Bank of McHenry's Monthly Income Plan, you can receive a monthly check for the Interest your savings earn each and every month. And without disturbing your principal. The following chart will give you an Idea of how much your monthly check will be with the First National Bank of McHenry's monthly Income. Certificate Monthly Check Total For 5 Yaari S 5,000 00 $ 30 21 $ 1,81260 10,000 00 60 42 3,625 20 15,000 00 90 63 5.437 80 20,000 00 120 83 7,249 80 25,000 00 151 04 9,062 40 30,000 00 18125 10,875 00 What's more, your monthly income and principal are guaranteed safe because accounts of the First National Bank of McHenry are Insured up to $20,000 by an agency of the Federal government - so you eliminate the built In risk of most other investments. Send us this Transfer Form with your savings passbook or Certificate. And we'll have your savings transferred to the First National Bank of McHenry. Soon, you'll receive your new First National Bank of McHenry's passbook or certi­ ficate and start earning interest at the highest rate on insured savings. .It's that easy! PENALTIES FOR WITHDRAWAL OF DEPOSIT BEFORE MATURITY Under the new federal regulations, you may withdraw these funds at any time prior to maturity However, the penalties for such withdrawal are as follows j 1 You will lose the last 90 days of interest 7 Interest on the amount of the withdrawal for the period of time the deposit has j been held (less 90days)willbeattherate then m effect for regular savings deposits I currently 5 percent 3 If you have received periodic interest payments which total more than the I Interest allowable at the penalty rate, the overpayment will be deducted from the | withdrawal I I I Accaaat He. I TRANSFER FORM IM U iW iMthi InI •» intofi ft l»«a It vfckk km f i muni 1114 W«t II* It The Firs! NOIIOROI Bonk of McHenry Mhn} ciiKt latum to at tccoaat uat aoaiatf latiust crici m t tui a oat nit lacoai (iitimuti THE FIRST NATIONAL BANK OF McHENRY • • • McHenry, Illinois 60050 815-385-5400 3814 West Elm Street MEMBER E.D.I.C. MEMBER FEDERAL RESERVE