It was a silver rectangle just sitting still in the daylight sky

It was about 1:30 in the afternoon in the sping of 1976. I was farming at the time and had just finished dinner. I was walking across a pasture, next to a county road, to get back to the tractor. It was a hot sunny day. In the due East sky at appx: 11:00 in the sky, I saw a very silver or metallic colored rectangle. It was in the sky and not moving when I noticed it. This was so real that I was trying to wave down traffic that was traveling due West, so they could also see what I was seeing.
After a few seconds, from the lower right quarter of the ufo, what looked like, (for lack of a better discription,) an upside down umbrella came from the ufo and started a slow back and forth descent. After another second or two the whole thing just disappeared.
Witness indicates that date is approximate.  PD