Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1893-05-15
THE BEEF BOOM.
Hon. W. S. Hopewell, of Sierra Conn-
ty. Talks of the Live Stock
Industry.
Conditions That Have Changed Short
age of Beef-A Good Invest
ment-The Outlook

Special Cores pondence New Mexican.
H1LLsBoRouaH, N. NJ, May II, 1893
Hon. VS.. Hopewell, one Of the best in
formed residents of New Mexico, afforded
your correspondent some timely criti-
cism of the cattle situation.
"Mr. Hopewell, you say that now is
tho proper time to invest in the cattle
business; the NEW MEXICAN would like to
have your reasons"
SIT will require retrospect Of soma
years to- state the proposition. In the
early SOS the proportion of cattle to
population was somewhat short of a
proper beef supply for the people OF the
United States; and there WAS consequent
unsatisfed demand for meat. Tho peo-
pie at that time were not eating as much
sheep meat as formerly. The ranges
owing to constant series of good years
were in excellent condition. Therefore
in the first half of that decade everybody
doctors, lawyers, merchants an. tex
derfeet generally, invested in cattle. The
English and Scotch became large owners
on our ranges. Everybody was buying
female cattle to stock up with. These
facts sent the price of beef jumping sky
ward.
THE SLUMP THAT FOLLOWED.
"Then came the drop. The supply by
the middle of the last half of the decade
was greatly in excess of the demand.
Prices were poor. Hard times resulted
and interest was high. To tide this over
owners began forcing everything, even
their female cattle, on the market. The
foreign corporations had to pay divi-
dends, and the western. owner had his in
terest to meet. Now add to this the fact
that the rains decreased and the grass was
poor. They said the range was over
stocked. The fact is the grass never
grew. All these causes sent the cattle
scrambling for market.
II know an instance of q foreign com
pany who stripped their range almost en-
tirely in an effort to pay dividends. Cap
ital stock was reduced time and again,
but the price of meat was so low that the
female stock was spayed for beef, and
then even the mothers sent to market, but
the dividends we're made up.
NEW ERA IN SIGHT.
''We are now approaching new era.
The beef supply in sight is not sufficient
for an ordinary year much loss the extra
ordinary emergency of to-day. The in
crease of cattle in 1890 was only per
cent; in 1891 it was x per cent, and in
1892 less than u OF per cent. These
slight increases we're owing to the in
crease Of daif.s stock. On the range the
steers and cows were still being forced to
market. We are therefore threatened
with shortage of beef.
"a short time ago the Armours, Cuda-
hys and other big packers announced
that they had over years supply of beef
in their cold storage. No one at the time
stopped to think of the thousands of
acres of cold storage this would require.
1t is impossible. For some reason the
packers lied. 1t looks significant to me.
Sometime previous, when pork was 31s
t,' cents per pound, these same men an
nounced that they had two years supply
of hog meat in cold storage. When pork
took such sudden upward Jump last
year they were called on to deliver this
Surplus. They then frankly admitted
that they did not have the pork. Owing
to the scarcity this meat jumped
from 81 and cents to 8 and 81 or
over 100 per cent. Not considering at
all their foreign contracts, any sane man
knows there is not enough of cold storage
to pack away two years supply Of Amer
ican beef or pork. These statements al
ways prscede rise in the market
THE SITUATION
"Now, senator, what is the immediate,
present situation?"
"a scarcity of beef! The drain on the
range has exhausted all the and 4-year
old stock. The northern buyers can not
even find 2-years olds. The feeders of the
! east are hunting for SIS and Is to fatten.
To-day in Kansas they are even fattening
yearlings. Both scarcity of grown steers
and the demand therefor are bound to in
crease. Suppose you start with herd Of
1900 she cattle, and take everything into
account but from favorable view, at q
period of little less than five years you
will have GOO 4-year old steers to market
The sixth year you will have about 800
but it is not until along in the eighth OF
tenth year that your herd has produced
she cattle enough to allow you to market
a large bunch Of steers.
"Now just look at another thing. From
now until winter there be an excess OF
travel Of nearly 100000 persons. A
man travelling consumes 40 per cent more
meat than at home. The conditions are
a scarcity Of supply, then an excessive
and stimulated demand. The range and
farm herds are depleted of beef cattle,
Now, young man do you see the reason fol
my assertion that cattle are good invest
ment."
Senator, what are the prospects for a
good season on the ranger"
BRIGHT OUTLOOK.
Judging from long experience
should say they are good. The indica.
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