A BILL TO ESTABLISH A FEDERAL GRAIN STORAGE INSURANCE CORPO- 20-454 O FEBRUARY 28, 1983 WEST MEMPHIS, ARK. Printed for the use of the Committee on Agriculture, Nutrition, and Forestry U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1983 འགར།།༣ ། འ ན་ A COMMITTEE ON AGRICULTURE, NUTRITION, AND FORESTRY JESSE HELMS, North Carolina, Chairman BOB DOLE, Kansas WALTER D. HUDDLESTON, Kentucky DAVID H. PRYOR, Arkansas GEORGE S. DUNLOP, Chief of Staff CARL P. ROSE, General Counsel and Staff Director for the Minority (II) 83-602572 155283 A35 CONTENTS Hughes, Paul, president, Farmers Soybean Corp., Blytheville, Ark Davis, Elford, representing Mid-South Farm Equipment Dealers Association.... FEDERAL GRAIN STORAGE INSURANCE ACT OF 1983 MONDAY, FEBRUARY 28, 1983 U.S. SENATE, COMMITTEE ON AGRICULTURE, NUTRITION, AND FORESTRY, West Memphis, Ark. The committee met, pursuant to notice, in the city hall, at 9 a.m., Hon. David H. Pryor presiding. Present: Senator Pryor. STATEMENT OF HON. DAVID H. PRYOR, A U.S. SENATOR FROM ARKANSAS Senator PRYOR. Good morning ladies and gentlemen. We are very appreciative of all of you coming. I'm sorry I got here a few minutes late, but driving conditions weren't too good from Little Rock this morning. I hope to have the opportunity to visit personally with most of you after our hearing this morning. First, this is an official field hearing authorized by the U.S. Senate Committee on Agriculture. Second, I have four of our staff people with us today, two from our Little Rock office, Carolyn Keggley and Annie Powell. From my Washington office, Jay Stockley, who is no stranger to anyone in these parts. And, also Tom Cortway. I don't know if we have a member of the Senate Agriculture Committee staff with us this morning. I don't see anyone. They will certainly be welcome should they desire to attend or make any statement. We have four witnesses this morning, ladies and gentlemen. We're not going to have a long, drawn-out hearing. We have four witnesses, or actually four groups of witnesses, I should say, we will hear from them momentarily. Then I would like to invite anyone in the audience who has a comment or perhaps a question, to speak into one of the microphones that are provided for you, and we will get your name for the record, and it will be a part of the official transcript, which will be lodged officially with the Senate Committee on Agriculture in Washington, D.C. I have a short statement, ladies and gentlemen, that I would like to summarize. I am pleased to be in West Memphis this morning to hear the views of several distinguished people on two measures that I've recently introduced dealing with grain elevators. We all know the problems that have occurred in the past. Nationwide there have been almost 125 elevator bankruptcies in the last few years. The losses have been in the neighborhood of some $25 million. (1) |