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Cost of prime farmland now'more realistic' r Page 11. PLAIN DEALER-HER / LD, WEDNESDAY, FEBRUARY 20,19* ByMarkBaus * Herald N«w* Serric* A continuing decrease in the, value of farmland in northern Illinois could have both positive and negative effects on local farmers, according to Larry Harris of the McHenry County Farm Bureau. A survey conducted by the Federal Reserve Bank of Chicago indicates that the value of top-quality farmland in northern Illinois hit a seven- year low at the end of 1984, dropping seven percent in the fourth quarter. ! Harris said the decrease has made the pirice of farmland " ;"more realistic." • "The inflation rate made the Irate unrealistically high. .Farmers couldn't afford to farm the land at those prices," Harris « said. "You just can't buy land at .'$4,000 an acre and expect to ;farm it and make a profit." ; Spring Grove I resident cast j in comedy ; The Pullman Players of Wauconda will present Neil •Simon's comedy "Come Blow iYour Horn" on Feb. 22, 23, 24 and March 1 and 2. On Feb. 24 there will be a 3 p.m. matinee >and all other performances will : begin at 8 p.m. | "Come Blow Your Horn" tells the story of two brothers ; desperately attempting to live ; life to the fullest and their j parents desperately attempting |to stop them. ; The cast includes Michelle ;Wiegel of Grayslake, Chuck Gessert of Barrington, John !Casciotti of Lake Zurich, Barb I Berger of Spring Grove and Janine Fout and Phread • Kosmach of Wauconda. j The production will presented jat the Old Church Theatre of Transfiguration, 222 S. Church -St., Wauconda. For more in- ; formation call (312) 526-2593 or ; (312) 526-7730. t Dates set for Milk Days 1 The dates for Harvard's 44th ; Annual Milk Days have been set I for May 31, June 1 and 2. This \year's theme is: "Back to the •farm for Country Charm." Festivities will begin Friday evening and conclude with a large fireworks display Sunday night. Between Friday evening and Sunday night there will be many activities such as: a youth parade, bed races, tractor pull, 'drum and bugle corps com- I petition, cattle show,, carnival ; (Friday, Saturday and Sunday), ;milk drinking contest, horse ' show, the milk run (two and seven mile race), arts and crafts show, wee farm, flea market, • food stands, mayors milking ! contest, farm tours and , fireworks. A parade will be held 1 Saturday at 1:30 p.m. Last • year's parade had 25 bands and ' a total of 110 entrants. Harvard is at Routes 14 and 173. Farm safety program scheduled All farm men and women are invited to participate in a Farm Safety program at the home of John and TClla Martin on Saturday, Feb. 23. Sponsored by the McHenry County Farm Bureau Women's committee, the program is a training session for rescue squad members in McHenry and Boone counties, but farm people will benefit by learning how they can help the rescuers in time of an emergency. The program will begin at 9 a.m., presented in the morning by Ron Moritz of the Woodstock Rescue Squad and John Scott, safety specialist, Information on safe practices around machinery will include reminders to farm families. The farm ranks high among the most frequent location for accidents. During the noon hour, a lunch will be served. Reservations for the program are requested. The Farm Bureau office (815) 338- 1520 is handling reservations. After the luncheon safety procedures for farm equipment will be reviewed. Rescue Squad members will be given practical information on the operation of the equipment, location of switches, and other suggestions on steps available to extricate a person during an emergency. Farmland market values have been dropping steadily over the last five years in the five-siate Midwestern agricultural area, according to Randy Woloski, supervisor for assessments in McHenry County. Harris said farmers who bought land at artifically high prices are going to be the most adversely effected by the value adjustment. "The ones that bought the land when it (the price) was high are going to be hurt the most. That' land at the time it was bought was just not realistically priced," Harris continued. The survey also indicated that farmers' borrowing. power dropped during the last year. "Since real estate accounts for roughly three-fourths of all farm assets, farmers suffered a substantial paper loss in their net worth," said Federal Reserve Economist Gary Benjamin in reporting the most recent survey. The decrease "implies; an overall loss of a third or nearly $75 billion in farm sector equity since 1980," he said. The pessimistic news comes at a time when agricultural economists and legislators are warning that up to 15 percent of Midwestern farmers may be unable to get credit for spring planting. Harris said he didn't believe the news would effect the availability of credit for McHenry County farmers. Last year, bankers surveyed said they believed land value had gained one percent during 1983 throughout the Midwest. This year they indicated land values lost 15 percent. The greatest loss, 22 percent, befell Iowa. Northern Illinois lost 16 percent and northern Indiana lost 12 percent. • > o • HARVARD, IL • • • • • • • • Wanted 10 Lucky Homes To introduce (Ui mw. 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