-2- 



coiranent after his first experience with potato whisky, "she don't taste lak' 

 she read on de barrel.", names mean little, the charge made is what counts. Con- 

 verting to annual interest is not difficult. Here is one example. You decide to 

 trade your old tractor for a new one costing $2250. You are allowed $1,000 on 

 your old tractor leaving $1,250. A carrying or credit charge of $125 is added 

 for a total of $1,375 on the note and you are to pay in two installments, one at 

 the end of six months and one in twelve months, of $687.50 each. 



Using the formula, you figure 



111 X - X 1 = —250 B 13.3% as the actual annual rate of interest. 

 625 1 3 1875 



You need to add up all the charges to get the cost of using borrowed funds. 

 You will be likely to run into some unusual names, charges, and methods. They 

 are all designed to separate you from your money. Credit has a cost but costs 

 vary widely between lenders. A sharp pencil and a pad of paper are excellent 

 farm tools when used frequently and wisely. Pick your lender for lowest cost and 

 most favorable terms to you. 



—Lawrence D. Rhoades 

 I I I I I I I I I I I I I I I I 



"THE TEN COMMANDMENTS OF APPLE MARKETING" 



An article by Carroll R. Miller in the Maryland "Fruit Growers* News Letter" 

 contains much food for thought and is reproduced here for the benefit of 

 Massachusetts fruit growers. 



1. It is the Law of The Profits that good markets exist only where Demand 

 goes ahead of Supply. Therefore build Demand, and yet more Demand, for 

 your apples. 



2. Diligently teach your customers the merits of apples; for only a fool 

 buys that for which he knov/s no use. Prepare the market carefully, in 

 advance: for education costs only pennies per bushel but the price of 

 ignorance is in dollars. 



3. A thousand growers shall not attempt to sell their apples to seven buyers; 

 for verily the growers will cut each others' prices to pieces, and the 

 buyers will wink and laugh. But seven sellers and seven buyers make a 

 firm market and fatten the pocket book of all. 



4. He who sells by under-cutting his neighbor's price has thrown a boomerang 

 which will return to smite him. His neighbor shall cut in his turn, and 

 both will be sorely wounded in the hip-pocket. 



5. You shall not attempt to market a puny volume of apples: for the seller 

 of a million bushels attacts the hard-cash buyers but the push-cart 

 peddler must hunt the by-v;ays and alleys for bad-check customers. 



