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Tractor Talk Discussion Forum

Want story confirmed- Deere

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Mike D.

12-19-2003 06:26:00




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Is it true that John Deere did not repossess tractors and equipment during the Great Depression?




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Mr. Greenjeans

12-19-2003 16:11:47




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 Re: Want story confirmed- Deere in reply to Mike D., 12-19-2003 06:26:00  
I've been fortunate enough to have had access to some old Deere & Company ledgers from the 1930's. From what I read there, as a general rule, Deere did not repossess equipment unless left with absolutely no other choice. That's not to say it didn't happen, but it was rare, Deere would work with the farmer if there was any chance of making good, they didn't want the equipment back.



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rustyfarmall

12-19-2003 08:57:02




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 Re: Want story confirmed- Deere in reply to Mike D., 12-19-2003 06:26:00  
I don't know, never heard that one, but even if they did reposess the equipment, who would they sell it to? No one else had any money either.



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Ben in KY

12-19-2003 09:06:54




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 Re: Re: Want story confirmed- Deere in reply to rustyfarmall, 12-19-2003 08:57:02  
Deere might not have, but what about the banks that financed the Deere purchase ?



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motrack

12-19-2003 17:47:25




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 Re: Re: Re: Want story confirmed- Deere in reply to Ben in KY, 12-19-2003 09:06:54  
Deere did a lot of their own financing on new equipment and little repossing.

Get a copy of the book "John Deeres Company" tells the story of the company, both the good and the bad.



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rustyfarmall

12-19-2003 11:27:40




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 Re: Re: Re: Want story confirmed- Deere in reply to Ben in KY, 12-19-2003 09:06:54  
I don't think that the bank really wanted the tractor either, the bank just foreclosed on the whole farm.



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