Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-10-14

|
Hast. Then he fell forward on the table
dead!
The last prophecy of the strange WON
| ing of the ninth day.
LOSE ON WESTERN CATTLE.
A letter from Marion, Kas., to the
New York Evening Post tells Of the
troubles OF western stock men as fol-
lows:
The effect on cattle Investments in the
west by reason of the drouth IL more
far-reaching than is generally under
stood. 1t is manifest not only in the
lack of feed for the coming winter, but
in the investments in cattle paper thru
out the feeding section Of the prairie
states. Holders of cattle paper given
six months ago will be sufferers as vel
as those who are actual holders OF
stock. This section of Kansas is largely
pasture land for grass cattle. Not less
than 100000 is represented in cattle pa
per on herds now on the grass around
this town. 1t is held mostly by the local
banks and thru them by eastern invest
ors.
The grass mortgages" are given IN the
spring, and usually run for six months
They come due in September, when the
cattle come in from pasture and go into
the yards for fattening. Some Of the
stock is ready for market from grass
but not all of it. The mortgages are
then supplanted by others given for elk
ty or ninety days or longer, according
to the time and feed at the disposal OF
the farmer, and covering not only the
cattle. but the feed. The grass mort
cages, are usually on larger punches
than the feed mortgages, for the latter
are given on small amounts of stock to
accommodate the individual farmers.
The conditions that obtain this year
are these: The country is stocked full
OF cattle. For six years the number OF
cattle has been increasing; prices have
been high and going higher. Every far
mer OF the west was buying all he could
handle and breeding more. No matter
what the cost or the amount Of debt IN
VOWED, he bought. AS result, there
has been scarcity of pasture. The IN
dian lands are all the time being les
sened. and the western ranches are be-
ing cut up into individual holdings The
farmer searching for pasture, as we'll
as the apeculator, found it scarce. The
dry weather has not only cut on the
corn supply. but it has lessened the con-
clifton of the pastures until there was
but scant sustenance thruout the sum-
mer. The cattle have. not done as Well
as usual, and the price of stock, owing
to the rushing of many thousand head
to market, has fallen Off.
The farmer, and the banker, Who is
also Interested, find that. some of the
grass cattle can be sent to the slaugh-
ter house, and sell them. The remainder
goes either to weak market and is
sacrificed to buyers from some section
in the far northwest or In the Panhan-
die. where pasture can be found. These
buyers will carry them over till next
wear. The farmers here will keep what
they can and also carry them over, hop-
ing to sell them from the grass next
summer at better prices. The extent
of the drouth has caused surplus OF
this latter grade stock.
A steer that weighed, say LOCO pounds
last spring. and was worth at $4.75 per
100. s47.50, has during the summer put on
soaly $3.50 per 100 pounds. or S42 The
pasture was worth at least ~, ana, not
tc count interest and natural loss. the
farmer and his creditor are out from 10
to 90 per cent on the investment. rms Is
the condition of thousands OF cattlemen
IN the west. They have stock that is
worth less money than six months or
syear ago. For instance. $50 head OF
steers we're offered in Harrington, IN an
adjoining county, last week for 81 a
head less than they cost the owner In
March. 1900. He has kept them for
eighteen months and finds that they are
rot worth as much az then.
Plenty of money exists to handle cat
tie with. The banks, filled with the cash
from the wheat just sold, are reporting
the largest deposits in months. But
there is little call for it. The president
of the one national bank, which has over
100000 on deposit, the most in his his
tory. says that there seems to be no in
sc,ination to use money. 1.-The farmers. y
he said. ARE holding to all they get, and
ere buying nothing that they can get
along without. There will be little money
spent between now and spring except
for feed and things to eat. The economi-
cal fever is abroad
In Dickinson county, where usually
5000, 900 bushels of corn is raised and
thousands q cattle are fed, there will
this season be practically no feeding.
One man has put up 100 head, and no
others are known to be feeding.
The discussion in the corn section over
the possible use of wheat in its place as
4 fattener is not producing much expert
nent along that line. The high price of
wheat, being now sc to So cents In the