Vol. 2, No. 3 Orlando, Florida March, 1943
BI TYOl WAR BlWDB AnD STAMPS lOIM THE ASSOCIATION
and aeesit in paying for and christening the
FKET OF BOWCR, PURSUIT, AlD FIGHTR PLAE
which the Florida Citrus Indeutry is going to contri-
bute to the war effort.
The Association has set up a bond department with
facilities for handling SeriOe "E bonds, and Oca
take applications for Series ime and "G" war bonds
in any denoariation desired.
n handles the bonds and will see
Mat yoi-gst-p pt service and that proper
credit is gi to the county you designate.
Every citrus grower
can participate in
this campaign with
his extra citrus dollars
ggl I VALUNCIAS FOR VITAMINS AND VICTORY
The Florida Citrus Production Credit Association is going to see that the citrus growers do
not lack for a dependable source of credit to maintain their citrus production as part of
their contribution to the war effort.
The Association is encouraging the payments of debts with the increased income from better
markets; encouraging the early repair of machinery, and furnishing credit for this purpose:
and encouraging the purchase of war bonds with excess income during this time of high returns.
In our operating procedure, the Association has adopted a policy of deferring many inspect-
ions, and in some cases waiving inspections where a satisfactory record of production and
repayment capacity has been established.
In order to enable members to take advantage of cash discounts for fertilizer and supplies,
interim or "between season" loans may be made to care for necessary expenses until prospects
for the coming crop can be properly estimated. Financing for the 1943-44 season, wherever
practicable, will then be handled on a bIdgeted basis for a period of one year, the interim
loan being included in the budget if desired. This will save unnecessary travel for both
the members and the association. Tax payments, including income taxes, can be included in
In making your Income Tax return, you may find that you have not used the method of book-
keeping that will give you an accounting of the sale of your products. In your farm ex-
penses, you may find that you have not properly recorded cost of labor, supplies, taxes,
insurance, interest, rent, cost of tools and equipment, and depreciation. You may also
have many non-farm receipts and expenditures that should be taken into account in complet-
ing your income tax statement.
Upon your request, the Association will send you from the U. S. Department of Agriculture,
Bureau of Agricultural Economics, a pamphlet covering a method approved by the Department
of Internal Revenue, which should assist you in 1943.
DIRECTORS I MEETING
At a meeting of the board
of directors on February
25, 1943, at which V. L.
Bullis, Orlando; Benja-
min A. Carpenter, Orlan-
do; Ralph Boswell, Tampa;
John D. Clark, Waverly;
J. J. Parrish, Titus-
ville; and Al Whitmore,
present, Mr. Bullis was
elected president; Mr.
Anderson of Lakeland was
and Mr. Carpenter was
elected to serve on the
These officers are to Florida Citrus Production Credit Association directors shown in the group are: J. J.
Parrish of Titusville, Ben Carpenter of Orlando, V. L. Bullis of Orlando, Ralph Bomwell of
serve until the next an- Tampa. Earl Anderson of Lakeland. John D. Clark of Waverly and Douglas Igou of Eusils.
nual election of the
At this meeting, the board adopted a resolution authorizing the Association to participate
in the Florida Citrus Bomber War Bond Campaign and to carry out such functions as are re-
quired by the United States Treasury Department and the Federal Reserve Bank. The associa-
tion was also authorized to accept applications for Series "F" and "G" bonds in addition to
the Series "E" bonds which we have been issuing. We have on hand here in the Orlando office,
a sufficient stock of Series "E" bonds and stamps to serve the citrus industry.
Series E Bonds are ten year appreciation bonds. They are issued at 75 percent of their
maturity value. A $100.00 bond costs $75.00 and other denominations in the same proportion.
The increase in value represents an interest return of 2.9 percent compounded semi-annually.
For every $3.00 invested now, $4.00 will be paid in ten years.
Series F Bonds are twelve year appreciation bonds. They are issued at 75 percent of their
maturity value. A $100.00 bond costs $74.00 and other denominations in the same proportion.
The increase in value represents an interest return of 2.53 percent compounded semi-annually.
Series G Bonds are twelve year interest paying bonds. They are sold at their maturity value.
Interest is paid by Treasury check each six months at the rate of 2.5 percent annually.
War Savings Bonds are registered and non-negiotiable. In this way, lost bonds can be re-
placed and their values are maintained as specified in the bonds. Thus, purchasers of War
Savings Bonds cannot suffer losses as did some purchasers of Liberty Bonds. The bonds con-
tain the "promise" of the -Government to redeem Series E Bonds after 60 days and Series F and
G Bonds after six months if the purchaser requests redemption. Thus, the Government supports
the value of the bonds through redemption and purchasers are guaranteed against loss.
THE MORE BOHDS YOU BUY--THE MORE PLANES WILL FLY 1
MANY MEMBERS OF TU ASSOCIATION A2 DOING THEIR BIT IN
TE WAR ffO0!
Mr. R. L. Burton of Arcadia in DeSoto Oounsy, who has
lived on his grove with his family for the past twenty-
six years, caring for the grove and asking a good living
for the family, has found that he can be of genuine service
in the war effort. He is now working at Carlstrom Yield in
an important position that was held by a young man who has
gone into active service.
Carlstrom Yield, near Arcadia, is one of the basic train-
ing centers for our pilots.
Mr. Burton has been a member of the Association since 1935
and has found the Association to be a valuable source of
dependable credit to take care of his production needs
through the years.
Mr. and Mrs. J. H. Coker live on their grove and farm in De-
Soto county. Mr. Coker is widely known in the citrus industry
in South florida. They are nov retired from business and set-
tied on the grove where they produce in addition to citrus,
chickens and vegetables. To assist in the war effort, in the
spring of 1942, Mr. and Mrs. Coker, made available for distri-
bution in Deboto County, more than 3000 cans of vegetables and
fruit which they raised in their garden. Among these were some
400 cans of string beans, 1900 cans of tomatoes, and the others
were guavas, peas, okra, cucumbers and turnips. In addition to-
the garden and grove, they care for 500 laying hens.
All these products of their farm are marketed locally. They
hope that the 1943 season, which has already netted them a sub-
stantial income, will give them a greater opportunity to raise
and distribute more vegetables and fruit.
Mr. and Mrs. Coker make it a practice to purchase at least one
$25.00 war bond each month.
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