The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1918-03-02
MONEY DEMAND
REMAINS FIRM
FEDERAL RESERVE FOR
THIS DISTRICT ISSUES
STATEMENT.

serve Bank or tins district, NO. ~:
The fact that January receipts on
the local market were only one
fourth of normal indicates scar
city of wheat in this section. With
mills operating at about three
fourth capacity Gas compared with
81 per cent capacity a year ago.,
there was a material increase in the
flour output of about one-SiNth over
the same month last year Reserves
OF wheat are being steadily de-
creased. All mills are operating on
the basis OF supplying 80 per cent OF
their output to the government.
The food administration, in order to
keep all on an equitable basis, Is
closing down the mills in this zone
that have ground three-fourths
their normal amount of -four.
Mild weather the first part of this
month has melted the January
snowfall, which was unusually
heavy throughout most of the dis
trict, and in view of the dry fall and
early winter the present wheat out
look is better tina neXpected.
Local corn receipts and ship
ments, as compared with the same
month last year, gained SO and 81
per cent, respectively. Supplies OF
corn at the four principal grain
markets have more than doubled
during January. The milling ue-
mand for corn, oats and barley to
furnish substitutes for wheat has
resulted in maintaining unusually
high prices at all terminal markets,
Notwithstanding the fact that there
were large crops last year. The
seed corn situation presents a Sc
rious problem due to the fact that
so much of the crop is immature,
Farmers have been urged to eXer-
else great care in the selection OF
corn which will germnate.
Hay prices have maintained an
extraordinary high level, although
the movement to market is some
what above normal. The oats move
ment has been the largest for ten
years.
Live Stock.
Cattle receipts for January at the
six principal markets OF the district
increased about IA per cent over the
same month year ago. lndica-
tions continue to show supplies OF
cattle are abundant in the West and
receipts are expected to continue
above last years.
The average weight of hogs on
the local market was 2IS pounds
% pounds heavier than year ago
and the heaviest January average
in 10 years. The district markets
receipts decreased about one-tentf
under the same month last year
Feeders are following the food ad
ministration and government sug
gestion by keeping hogs until fat
tened. Prices are well maintained
above the tentative minimum price
suggested by the food administra
ton, and though farmers complain
that there is no profit in feeding
corn at the present high prices anC
selling the hogs at $40, there are nc
indications that feeding operation!
have been curtailed. For the frs
time in many months hog slaughter
ings by the district packers for Jan
uary showed an increase over tn,
same month a year ago.
The sheep movement is smalle
than last year. Receipts declined II
per cent under January, 1917. Th'
hockmasters have shown a dispo
sition to hold their ewes for breed
ing purposes and to keep thei
fockS until shearing season becaus
of the high prices received for wool
The aggregate live stock value OF
the farms of the states in whole o
part within this district, on Jan.
1918, by government estimates, wa
$1,837, 100000, a one-fourth increas
over the live stock valuation on tn
same date last year.
Mining.
The metal mining industry o
Colorado is reported about as duI
as it has been during recent years
The primary cause of this is tn
increased cost of production, whic
at a conservative estimate is 90 pc
cent, due to advanced wages of la
Dor and high prices for supple!
This has not been accomplished b
a corresponding increase in metz
prices, and unless more favorabl
conditions develop, it is feared tn
metal production of the state wi
rapidly decline. 1t is said howeve
that the production of molybdenun
from present indications, will reac
by midsummer $1,000O00 worth c
metal a month These operation
are based on government contract
which win take practically the er
tire output for war purposes.
The production and shipments {
zinc and lead from the Missour
KanSas-O Oklahoma district hav
been considerably curtailed by tn
shortage of coal and a railroad en-
barge. During the month zinc oil
prices declined slightly with II
market fairly quiet. Lead ore, how
ever, is bringing top prices at $S
a ton, and the market is very stron
with nunusual demand.
The heartiest spirit of cooper;
ton and compliance with the go,
ernment fuel administration orde
has been shown in all parts of tn
district.
Petroleum.
The unusually cold weather
4hn met r,,nnth ,,,;th hnn,,,r crn,,