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Ask Tom's favour The boys are out in force above present their offering. Brown, Doug Bedford, Kevin Quantrill, Kevin Cowan, to win Tom's favour and Craig Tomkins, Carl Roberts, Sean Winning, Paul Jeremy Pooler. Kim Lycett and Candance Vey (standing) play their part only with those seated, Jackie Young and Kristine Howes, all partof the action in Tom Sawyer. Quelpfa appoints secretary-manager Guelph - Mr. Douglas Wagner of Kit-, chener, Ontario, is the newly appointed Secretary-Manager of the Ontario Soil and Crop Improvement Association and the Ontario Seed Growers Association. This announcement was made jointly today by Mr. Grant Richardson and Mr. Alex Connell, presidents of the two farm organizations respectively. . Mr. Wagner graduated from the diploma program in Agri-business at the UniveiM ty of Guelph in 1974. Since 1979 Doug has been self- employed selling commercial advertising, writing and reporting agricultural information, information, assisting in organizing organizing agricultural events and as a university teaching assistant. assistant. He was very involved with Extension programs between between 1974 and 1979 when he worked for the Ontario Ministry of Agriculture and Food as ap Assistaht Youth Supervisor. This announcement introduces introduces a new era for both associations. Previously the secretarial services had been provided by staff of the Ministry of Agriculture and Food. These organizations look forward to employing Mr. Wagner as their own Secretary-Manager and are enthusiastic about the future for both organizations. Both are very aware of the current problems being experienced by producers in seed and field crop production. These organizations will continue to be of assistance to producers, agri-business and goveriir ments in representing, promoting, promoting, educating and informing informing growers. There will be continued co-operation between between the two organizations and the Ontario Ministry of Agriculture and Food. Mr. Wagner will assume his new responsibilities, im- mediately. Any correspondence correspondence should be sent to him at "The Guelph Agriculture Centre", Box 1030, Guelph, Ontario N1H 6N1. ' Weed Control: Mr. Neil Moore, Soils & Crops Specialist from Lindsay asks, "How often do you, see a weed that has come through your weed control program?" Usually, most, fields are very clean if the proper control program was used. However, some new problems are coming in cornfields cornfields - weeds that are resistant resistant to triazine herbicides like Atrazine and Bladex. Lambsquarter, pigweed, ragweed and goldenrod are the common weeds that are showing resistance. Triazine- resistant lambsquarter and pigweed both are found on an increasing number of farms in the East Central area each year. No confirmed cases of resistant ragweed or goldenrod" have been found in this area. Annual grasses are also showing resistance to Bladex in some locations in the province. Therefore, if you do have" weeds that escape your weed control program, you may have resistant resistant weeds starting to appear. A few weeds undetected this year could lead to full infestation infestation and crop failure next year if you are not keeping a close watch on the fields. ' Many growers are using Banvel or Pardner to clean up . these resistant broadleaf weeds - both products provide provide good control -- be sure to follow label instructions. New weetjs are appearing in the East Central area. Some growers have had these weeds'for .up to' 10 years but the number of new infestations infestations ' of prqàb millet and velvet leaf are increasing year-i ly. If you have plants that ( are escaping, 'they may be new • weeds that a different, program program will control. Be sure to check all fields in June to see what weeds arc still around. Orono Weekly Times, Wednesday, June 15, 1983-9 Mortgages -- Part I Are Rates That Important? Buying a house, whether it's your first or your twenty-first, is a big step, and, for most people, the old saying is true it is still one of the biggest, investments investments made by an individual. individual. With all the concerns about the house itself - is it the right 'size? Conveniently located? How's the plumbing? plumbing? and so forth - recent history has taught home- buÿers to be particularly aware of. one other critically critically important element of buying a house. Mortgages. More specifically, specifically, mortgage interest rates. Those three little words are capable of striking striking fear in the inner heart of even the most experienced liomebuyer. Sky rocketing interest interest rates have only very recently started to subside, arid many homebuyers today today have friends and neighbors neighbors bearing the weight of 18% or 19% mortgages. "It's very confusing for the liomebuyer today," said Robert Keller, Vice President President of Corporate and General Lending and Victoria and Grey Trust Company, which is offering some of. the most competitive mortgage mortgage rates available in the marketplace. "Consumers see weekly clfarts of mortgage mortgage rates in the newspapers, newspapers, they, read about foreclosures and various types of mortgage payment plans. They also feel there's no certainty that mortgage rates ha've stabilized at current current levels",he added. Mr.Keller points out however, however, the t importance for hpm,ebuyers of realizing that a mortgage is quite simply, a loan. It is a special kind of loan, Which uses real estate, in the form of your family home; as security, and which can " usually be paid back 'over a' longer period of time. "All borrowers,, including mortgage borrowers, must realize • that the rate they pay for their loan is related related to the rate which the lender whether it's Victoria and Grey or anyone else, has to pay someone else, for the use of those* funds," emphasized Mr. Keller. "People have to be realistic and balance their quite legitimate legitimate apprehension about mortgage rates ' with the other factors which have equal weight in a decision as important as home and shelter for you and your family," said Mr. Keller. . Lenders stress the im- < portance of understanding all the elements of pur chasing a house to avoid an overemphasis on the mortgage mortgage rates, which like other loan rates, 1 are set by market forces, Victoria and Grey, like ; most lenders, counsels their customers to approach such a major purchase as a house from the proper perspective. "Too many people fail to take the time to sit down and figure out the single most important element in financing your home - and that is to determine how much you can afford to pay, on a regular basis, based on your family income, income, to own (hat home" said Mr. Keller, . Committing any more than 30% of gross family income to owing a home including payments of interest, interest, principal and realty taxes, could place a family in financial jeopardy. The other costs of owning, furnishing, furnishing, and maintaining a home are usually higher than the new homeowner, flushed with the joy of finding the perfect house, initially anticipates. This is why the 30% ceiling is important. To illustrate, assume a family inqpme of $2,000 per month, including 50% of a spouse's income if applicable. That would mean a maximum house servicing cost for that family of $600 per month. If realty taxes average $1,200 per year ($100 per month) that leaves $500 per month available to cov;er mortgage interest and principal. If mortgages are available, at 12% for example, That family could afford a $48,000 mortgage. .To determine the house price range that such a family can consider, they add the amount available for a down- payment (usually 25% of the total, price). A $16,000 downpayment will allow the family to purchase a $64,000 horns for example, and still live within reason. Of course interest rates, as everybne well knows," do vary -- and the length of time a lender will allow, a borrower to "lock-in" at a certain rate also varies. Those considerations are the subject of Part'll o'f this series. For further information, and copies of other articles in this series, contact the Ifranch Manager at local Victoria and Grey I fust' Company offices throughout throughout Ontario and Alberta. When its printing give us a call 983-5301 n d n m n WEEKLY TIMES U II U II u TELEPHONE Mit) 9M-S301, P.O. 80X 209, ORONO. ONTARIO 1.0B 1AA0 PRINTING AND PUBLISHING • * Letterheads * Envelopes * Business Cards'* Invoices * Labels * Invitations ' Brochures ' NCR Forms * Continuous and Sn'ap-Out Forms