Thursday, April 30, 1998

Rolling Plains PCA meeting slated for Friday Stamford

By J.T. Smith / Abilene Reporter-News

The Rolling Plains Production Credit Association's 64th Annual Stockholders Meeting will be tonight in Childress and Friday evening in Stamford.

Registration and the meal will begin at 6 p.m. at both Thursday and Friday sessions, preceeding the business meeting.

City Auditorium will host the Childress meeting.

For the Stamford session, stockholders and guests will gather at the Stamford High School Cafeteria.

A Rolling Plains PCA session also was held earlier this week in Canadian on Tuesday.

The Association's board of directors has declared a patronage distribution based on 1977 fiscal-year earnings. Total patronage is $1,413,231 with 40 percent being paid at the three sessions of the annual PCA meeting this week.

This patronage returns 19 -1/3 cents for every dollar of loan interest paid by stockholder-members on loans in 1997 and lowers the effective interest rate on borrowers' loans for the year to 7.48 percent.

Directors will be chosen

Three directors representing Perryton, Childress and Munday areas will be elected during a short business session.

Nominees are John R. (Bob) Beagle and Doug Hardy of Perryton for the Perryton position. Childress area nominees are Dan Henard, Jr., and Dan Langford of Wellington. Running for the Munday position are Garon B. Tidwell and James E. Amerson of Munday.

As part of the nationwide Farm Credit System, Rolling Plains PCA serves some 950 borrowing members in 25 counties of the Rolling Plains of West Texas and the Eastern portion of the Texas Panhandle.

As of March 31, the Rolling Plains PCA's outstanding loans to farmers, ranchers and ag-related businesses was more than $86 million.

The Association has been rated a Teir I PCA for 10 consecutive years.

This rating is based on safety, soundness and financial strength and is the most prestigious award given by the district regulator.

As part of the fun, drawings will be held tonight and at tomorrow's meetings from members' registration cards until at total of $400 is awarded at each session. Greg Claassen, a Kansas ventriloquist, will present a highly entertaining program.

John S. Rike III is president of the Rolling Plains PCA.

Farmers Co-op Gin of Anson elects officers

The Farmers Co-op Gin of Anson has elected officers for 1998.

They are Billy Holmes, president, Anson; Terry White, vice president, Anson and Tim Shields, secretary, of Merkel.

Serving on the board of directors will be Joe Jackson, Anson; Brent Hargrove, Anson; Dale Spurgin, Anson and Doug Bagley, Merkel.

Sharla Harvey of Anson is manager.

The cooperative gin paid out $400,730 as dividends in a cash distribution to its co-op customers at its annual meeting.

Joe Allen's of Abilene catered a ribeye steak dinner for the annual meeting, and U.S. Rep. Charles Stenholm spoke to the group.