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Show Crop Insurance Urged By Franklin County AAA February 28 Deadline On '42 Policies Franklin County Farmers Who Grow Spring Wheat Warned Against Delaying It takes wheat in the bin at harvest har-vest time to make money regardless regard-less of how good the price is, ac cording to Franklin 'county AAA committeemen in charge of the federal crop insurance program. "But if a farmer has a crop failure and has no insurance, tne good price doesn't mean anything to him but disappointment. Crop insurance simply provides a method meth-od of being sure of a crop every year, regardless of the weather or any other natural, unavoidable hazard," the committeeman said. February 28 is the last day on which the insurance may be obtained ob-tained for 1942. All farmers in the county who grow spring wheat will be given an opportunity to take out federal crop insurance on t their 1942 wheat acreage during February. Insurance rates are based on the yield and loss history of each farm, with premiums collected in good years going to make up a reserve for years when crop failure fail-ure strikes. Payment of the premium on the insurance may be taken care of by signing a non interest-bearing note which may be redeemed by paying the premium in cash at anyf date it is advantageous to do so. Or, by letting the note mature, the grower authorizes the Crop Insurance In-surance corporation to take the premium from any indemnity he may receive, his AAA conservation j payment, or a commodity ploan, whichever Is made first. The notes mature on August 13, and premium is collected on the basis of the price of wheat on that date. Since administrative expenses are paid from federal funds, the program simply is a matter of paying in during good years to build up a reserve which can be. drawn agains when yields are below be-low normal, the committeeman said. Crop insurance guarantees growers 75 per cent of an average yield. Premiums are collected and indemnities are paid in terms of bushels of wheat. Farmers who signed up last s.um-1 s.um-1 mer for insurance on 1942 winter-sown winter-sown wheat have automatic cover- age on any spring wheat they may seed and do not need to apply again. |