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Those who farmed through the '80's ?
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hinfarm
Posted 7/3/2022 09:35 (#9731769 - in reply to #9731737)
Subject: RE: Those who farmed through the '80's ?



Amherst WI
IADAVE - 7/3/2022 08:11

Your comment on depositing money in the 80's made me remember.
Many had multiple checking accounts. Most of the time it would take 10 days to 2 weeks before the check hit the bank. A lot of guys would write a check, wait a week and write a check on another bank to cover the first one.
I used to do custom work and gave a 5% discount if they could pay me before I got home.
I also carried blank checks on every bank in the area as one did not want to miss a chance to get paid.
I pay my bills asap as I remember the bank calling my crop loan as soon as they figured I had the inputs on hand. That sure sucks having to go to your suppliers and tell them. PCA already had the lien on the crop also.
They called my loans as I was one of the most solvent. I paid everything off before all the crop was sold. The inputs for that year were paid off before the crop was harvested.
Fortunately I had custom work so I could pay on my bills through the summer so no one got to excited.
I know the coop ate a lot of bills those years. Some of them were from the wealthier families.
I still remember one farmer got a huge write off. A potential landlord was telling me he wanted to rent to him as he had family backing and would be less apt to stiff him.




Amazing, I mentioned situations like this happening in market talk the other day and you would have thought they were getting ready to chase me out of town for being a heretic.

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