The Wichita Eagle from Wichita, Kansas • 17

THE WICHITA EAGLE AND BEACON Saturioy May 31 1980 174 BusinessFarm Dan Dorfman Looks At Ancient Coins Sunday Business On The Farm Like the Weather Wheat Changeable Creditors Approve Survival OKLAHOMA CITY (API A federal bankruptcy judge Friday approved the reorganization of the Boise City (Okla) Fanners Coop and Grainery after 95 percent of its creditors including about 500 farmers voted for it Judge Robert Berry agreed to the (dan to keep open the elevator and feel station that serves fanners in Oklahoma Kansas Texas Colorado and New Mexico Meanwhile the coop would meet some of its $3 2 million debt by selling off facilities trading off stock and borrowing But the financial problem of the coop that hit some farmers hardest was not settled AN AUDIT MADE after the coop went into receivership in November 1979 riiowed it has lost nearly 30 percent-of the grain it was staring for members Boise' City attorney Stan Manske the coop's courtap-pointed trustee said Friday that the elevator has only 71 percent of the wheat and milo and 74 percent of the corn it accepted for storage Grain claims total $25 million but the elevator is short about $870000 worth Farmers' claims on the grain are competing with those of the Wichita Bank for Cooperatives which loaned the Boise City cooperative money using the grain as collateral The claims will be honored equally after they are approved in a July hearing in bankruptcy court Manske said the lost grain will be made up by issuing the claimants stock in the reorganized cooperative MANSKE SAID THE coop had been operating since 1974 at a deficit that went undetected by auditors The FBI is investigating the operation of the cooperative Manske would not speculate on whether actions by the former manager Fred Crews were illegal but said it doesn't appear to be a case of embezzlement He said it is By DIRCK STEIMEL Staff Writer In just a few months the 1980 Kansas wheat crop has gone from looking fair to looking good When farmers grease up their combines and take to the fields next month they may bring home near-record yields from fields that were all but abandoned before the spring rains came In fact wheat experts say this year's crop has the potential to rival last year's record hap vest This year's wheat crop got off to the worst start of any in years said Tom Roberts executive vice-president of the Wheat Quality Council The soaking rains needed in early fall to get the wheat on its way before winter never came Many farmers had to wait months past the normal late September planting time until fields had enough moisture to support the crop Other farmers elected to their wheat (planting without the needed moisture in the hope that it would rain) THE DEPARTMENT OF Agriculture's first estimate of the Kansas wheat crop was only 332 million bushels be cause of poor growing conditions across the state Then the moisture came in rains and wet spring snows and the wheat crop began to show more promise Roberts said only a few counties of central Kansas like Barton Rice McPherson Ellsworth still do not have enough moisture and probably will not harvest an average crop this year Earlier this month USDA estimated that the Kansas wheat crop had improved enough to make 371 million Some experts flunk it still do better than that Members of this Kansas wheat tour which surveyed the crop for yield potential and signs of disease found the crop in remarkable shape considering its slow start The survey tour is used mainly by grain and milling firms which use the data to project the quantity and quality of the harvest THERE WERE VERY few signs of any disease or hail damage that could cripple wheat yields and almost no insect or weed problems this year tour members said About the only problems reported by the crop survey team were puddles and small pools of water in some western Kansas fields that could drown the wheat over a long period This year's crop is still about a month away from the bin and a lot of things could happen to cut yields between now and harvest time About the worst thing for the crop now would be some very hot days in early June Roberts said In early June the wheat berries have formed in the head of the plant but are still soft he said few very hot days say 100 degrees or so and the wheal berry will shrivel and will not be much good for milling" Roberts said So now Kansas farmers must hope Mother Nature does not come up with any last-minute surprises like torrid weather or severe hail storms Staff Photo by Dave William ENGINEER CLARENCE BRENT WITH STRUCTURALLY BEEFED-UP HELIO FAA inspectors were impressed with its performance Design Veteran Builds Payload Increase Into Helio Courier By LEW TOWNSEND Aviation Writer Clarence Brent 72 duel engineer for Helio Aircraft Coro when the Pittsburg firm was building Couriers in the Utils and early UTOs has revealed what kept him sofausy the past four years FAA officials in Wichita watched Friday as Brent proved that with subtle stntctural changes the Courier's payload can be increased by 400 pounds Market Stages Late Comeback Helio Aircraft in 1978 engineered structural changes then incorporated them on a Helio owned by Dr Zuckerman of Concord Mass The work was done at Tremains Aircraft Repair at Pittsburg-Atkinson Municipal Airport The Helio demonstrated for FAA engineering and manufacturing inspectors Wichita Mid-Continent Airport Mike McDermott Pittsburg the test pilot for Brent's modifications during the FAA inspections and during the early flight-test program Brent said he hoped to modify Helios flying but that his main goal Manske said the coop will seek a $800jl00 loan and seO a satellite elevator to satisfy part of its unsecured debts It will also give the Wichita bank stock in other cooperatives to pay off about $900000 in secured loans Way Cleared for New VW Plant STERLING HEIGHTS Midi (UPI) Volkswagen of America executives signed a series of complex agreements Friday that will transform an Army missiltauild-ing facility into the second UA car assembly plant the James was at was also other in undertaking the work was to try to convince the corporate owners of Helio Aircraft to put the Courier back into production using the engineered changes to stimulate new interest in the model HELIO AIRCRAFT HAS been more or less dormant the past five years although it remains in operation with a few workers doing subcontract work for Boeing Co still affiliated with Helio on a consulting basis and I hope 1 can convince them ttie need is there for a short-takeoff-and-landing plane like the Courier with the increased Brent said Hearts of a subcompact uccessor to the hotoelUng Rabbit which now is beh assembled at the company's The New York Stock Exchange index rose 047 to 6344 and the price of a share increased 23 cents Standard Poor's 500-stock index climbed 097 to 11124 Advances edged declines 835 to 611 among the 1962 issues traded Big Board volume totaled 34820000 shares down from the 42 JIOOJIOO traded Thursday Composite volume of NYSE issues listed on all US exchanges and over the counter totaled 40476060 shares down from the 47456820 traded Thursday The American Stock Exchange index rose 360 to 27167 NEW YORK (UPI) Hie stock market overcoming news of a recession with the help of lower interest rates staged a strong afternoon rally to push higher Friday Proweekend trading was moderate The Dow Jones industrial average down nearly 6 points at the outset following Thursday's 1407-point profit-taking rout rallied to gain 480 points to 85085 But the closely watched average lost 325 points for the week thanks to Thursday's setback the worst in more than a month Prior to Thursday the Dow had run up 100 points over the previous five weeks The agreements signed by VWA date officials and officers of the US Army represent victory over Otw in a bidding war to attract the plant which will continue production of missiles until about October Army officials agreed to hand over the plant to flie state of Michigan which will transfer it to VWA in exchange for about $17 million Those funds will be used to construct office buildiiys for Army administrative personnel currently stationed at the plant Would-Be Inventor Gives Money to Assist Others We would rather sell it Than count it That's right we are declaring May to be Pre-Inventory Sale Month It's easier to sell it than count it so we are offering somo prices we normally wouldn't and doing something we normally Couldn't Hurry because the best buys always go first DESKS A BOOKCASES Chroma stereo component Hand Rag SOFAS Comal cotormgQin wl1h 0 ond bodcu- Bill Prevo a 57-year-old aircraft electronics technician has an idea i that he thinks can save on foreign oil imports He figures there is a way to use isolar heat to icreate air prea-sure that will operate hydraulic-powered machinery to turn electric generators Right now it's mostly in his head although he says he has started patent procedures on parts of his device Whether Provo's machine ever beccmes a major success or simply another wacky idea for creating abundant energy could depend on whether there are investors wining to risk money to prove out his ides Although he desperately needs the money for his own project Prevo donated $1000 to the Wichita State Center for Entrepreneurship and Small Businss Management The money will be combined with donations from other businesses and individuals plus a matching grant from the Garvey Foundation to provide scholarships for the center's third annual summer workshop program June 10 through June 28 PREVO ATTENDED the class en- titled Future in Business" last summer and set up Advance Electronics in Wichita afterwards He figures others would-be entrepreneurs should have the chance to learn what he (fid "I couldn't find the capital for my he thing you team is banks won't loan a new business much money So I used all my saviigs and that proved not to be enough- So working overseas and earning good Prevo is wrapping up a contract with a British firm to work on aircraft in Libya He plans to return to Wichita in about five months to pick up where he left off with his energy-saving idea The workshop class which is open to high school juniors and seniors as well as college students and others will feature guest lecturers from the business community This year's lineup includes former Pizza Hut president Frank Carney Moya Olsen Lear chairman of LearAvia Gorp and Lawrence Jones president of Cote-man Co Gold Rush Hits China HONG KONG (AP) There's a gold rush in China with some people on the strategic Gulf of Tonkin island of Hainan making of gold and silver according to a radio broadcast monitored here The radio said persons of "dubious tried to get the precious metals "by hook or by and smuggle them off the island China forbids the private sate of gold and silver "SAUimJO SAU $1930 Some odd pecet of ditContmuedteetional A lew armies Dooplad alCM fSdwaoT aMgara wiRt chroma oc-ymh ond loma ottoman in vonouifabde Rag $8950 tank RigrVIWttlltS950 ft3950 4 Tha aatandmCrtlQf 2 pwc eitonoon desk Rag 10 paea lactionol galdatlon cwduwy Highwoek FARM CALENDAR June 1-4 Veterinarian conference at Kansas State University in Manhattan Veterinarians from all areas of the state will discuss animal health problems and animal disease treatment June 4 Fort Hay Branch experiment station at Hays will sponsor a field day beginning at 9 am Problems and treatment of wheat diseases like soil-borne mosaic and hybrid wheat experiments will be diTmffiPd June 11 The Sedgwick County Farm Bureau will sponsor the seventh annual Governor's Farm and Ranch Field Day beginning at 3 at the Farm Bureau office 5920 West Central Tour cost is 33 and reservations can be made by calling the Bureau at 945-9851 June 11 Colby Branch experiment station spring field day beginning at 1 Featured topics are double cropping factors affecting varietal performance and pre-plant irrigation efficiencies Tomlinson Will Issue Debentures Tomlinson Oil announced Friday that it will offer in June $15 million in convertible debentures through underwriters led by Bateman Eichler Hill Richards Inc Warren Tomlinson company president said the offering will be made in lieu of a postponed $15 million sale of common stock Proceeds from the debentures will finance expansion of Tomlinson's Nixon Texas refinery and for a 47-mile pipeline from Pettus Texas to Nixon Tomlinson said Louis Cates the company general counsel said the debentures will have a 15-year maturity Interest rates and the stock conversion price on the debentures will be determined until immediately before they go on sale probably in mid- June Cates said A subordinated convertible debenture is basically a bond sold by a company for a fixed period It convertible into common stock by me buyer after the company's stock reaches a certain price and before the maturity date The company also has the right to call the debenture at any time after maturity either by paying off the bond but more commonly by issuing common stock -Vs-' VXi 4 SAU $1450 DINETTES 34T squore darCQI Hfobla with chrome bota tog 159 50 SALE $5950 40 round tohd oak butcher block wife chrome pedeiial bote Mutual A I Rag $19950 SAU $1950 BEDROOM 2 door dopptodgQphatorchttt Rag $11950 -Queen WEB land bCQIO medium brown oak fmnh Reg $89 50 7 SAU $3950 UR over headboard to a dneontmued group Qjeon tut chocolate brown knnh Rag $74 50 SALESI950 Jui a law eaamplot el the huge laving avatable Many tent ora dneontmued or one of a kind and mutt bo told As It so hurry for the bed tetoctwn ikon oma sectionol tor elra comfort leg $105500 SAU $54950 CHAIRS Colonial chon wrfhdoA wood tame A rutt plaid cuduont Rag $219 50 SAU $9950 Matching onoman Rag $99 50 SAU $29 JO Odd selection ol leftover oitomoni 1 Rag to $9950 Chroma and 80 $11950 emu $49 50 i Carwot and CfM IVv 4raeton chav One only Rag $495W 3lAU $1950 Maple or dark pM finidi lotion rockert Reg $89 50 TABLES CHnm aidCmiV table wtihbrouaKenlt $49 50 Chroma smoked gkxs A oak accented and table and Otck-toH table Rag S89S0 and $109 50 SALE $4950 Your choice Sokd wood end table a antic Arndt Rag $99 50 SAU $4950 v- U'J Bp-- ri- (S I if- MISCELLANEOUS FENCE SALE NORTHERN WHITE CEDAR STOCKADE PANELS PLUS TAX CHAIN UNK FABRIC 337 -V -V- Kansan Charged In Grain Fraud YORK Neb (AP) A Kansas man pleaded innocent in York County District Court Friday to several counts of selling fraudulent grain contracts to county farmers James Bauer 40 also known as Frank Bauer of Mission Kan is charged with one count of conspiracy to commit a felony and seven counts of selling fraudulent contracts Court records showed that seven York County farmers paid $195 each for service contracts offering grain price quotations and to ship grain to Kansas where the contract pledged farmers would receive from 10 cents to 20 cents more than local prices per bushel Bauer who was arrested last November was freed on a $2500 bond No trial date has been set Brest Baker Rack reg $199 50 SAU SI 2910 Stereo Component Standi tatting $3990 Pharmacy lamp yeur choice el color brown tan blue reel end yellow in deck lamptenly reg $3490 SAU $1950 10 Off any baikel lamp or acceetety item in More You'D have to aik far it Reclining toll w4h a chrome home and clan linen fabric Reg $42950 SAU $279 SO Matching Chair and Ottoman Lave Seat alto tele priced Buccaneer upholder group Every piece ie accented in antique brat Safa tag $42950 Loire Seal reg $394 SO SAU $29910 SAU $24910 WICHITA FENCE CO INC 4901 NOKTN BROADWAY 111-6194 I.