DES MOINES – The Iowa Department of Agriculture and Land Stewardship has temporarily suspended the grain dealer and warehouse operator licenses for Watkins Elevator, Inc., in Watkins, Iowa effective April 1, 2009.  The suspension is based upon financial statements from Watkins Elevator, Inc. provided to the Department’s Grain Warehouse Bureau.  The financial statements were dated December 31, 2008, and showed that the company’s current liabilities exceeded its current assets and the company's net worth was below the minimum required.  Therefore, the company did not meet the net worth and current ratio requirement of Iowa Code Section 203, and 203C (2009).  A revocation hearing has been set for Tuesday, May 19, 2009 The Iowa Department of Agriculture and Land Stewardship’s Grain Warehouse Bureau regulates and examines the financial solvency of grain dealers and grain warehouse operators.  The functions of the Bureau include: warehouse licensing, warehouse examination, grain dealer licensing and grain dealer examinations. - 30 -