OCR Text |
Show Assignments Are Permitted In Wool Program Payments due wool growers under un-der the National Wool Act for wool, lambs and yearlings marketed market-ed on and after April 1, 1955, may be assigned to financing and marketing mar-keting agencies which make loans on sheep, lambs and wool. This decision, made recently by the U. S. Department of Agriculture, clears up a question raised by many growers and marketing agencies since the passage of the act last year. Joseph Wilcken, chairman of the Duchesne Agricultural Stabilization Stabi-lization and Conservation County Committe explains that those receiving re-ceiving an assignment from the grower must make a full and specific accounting to the grower and must remit any balance due him within 60 days after receipt of the wool payment draft. Program Pro-gram funds cannot be used to pay balances remaining from advances ad-vances on previous year's operations. opera-tions. Another point emphasized by Chairman Wilcken is that the wool grower may make only one as-sigment as-sigment of his wool payment. The assignment must be filed with his County Agricultural Stabilization and Conservation office at Roosevelt, Roose-velt, Utah. The Department's decision to permit assignments of wool payments pay-ments followed a recent meeting in Washington of wool" growers and interested organization representatives. repre-sentatives. The procedure developed devel-oped will safeguard growers' interests in-terests and at the same time enable en-able them to use part of their incentive payment for curent operations op-erations rather than waiting until the summer of 1956 when first payments will be made. Chairman Wilcken emphasizes that whether the wool grower takes advantage of the assignment provision or not it will be to his advantage to get the best possible price for his wool. The wool payment pay-ment will be based upon the percentage per-centage needed to bring the national na-tional average price of wool to the incentive level. This percentage percent-age will be applied to the price per pound each grower gets for his wool. |