Farmer uncowed

Press, 4 July 1985, Page 10

Farmer uncowed

NZPA-AP Colfax, Wisconsin A frustrated farmer responded to a request from a bank for more loan collateral by herding four cows at the bank’s front door. “You want more collateral, here it comes,” Russell Likeness said yesterday after he unloaded the four animals from his pickup truck. The cows scattered on the bank property, trampling and eating some of the shrubs. About 25 supporters of Mr Likeness rallied in the carpark of the First American Bank, blocking the entrance with farm machinery. “I’m tired of being backed against the wall,” Mr Likeness said. “They’re not living up to their end of the agreement. This bank, like other lending institutions, claims to want to help us.” He was seeking a $U5440,000 ($915,200) operating and guaranteed loan through the Farmers Home Administation. The Administration’s office at Stevens point had approved the loan and the snag was with the Colfax bank. Mr Likeness said that he had provided all the necessary collateral and documentation, but Al Marcyes, a bank vice-president, said “A technicality ... is all that is holding this up. We’re very close to putting this package together”.