The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1920-11-22
Time TO CALL HALT
ON DOWNWARD TREND
FARM STUFFS, THEORY
By WILLIAM r. SANBORN

more than 4,OOO, 1ully nalI the cdttle
received at Chicago last week were
! Canadian rangers. Chicago made
record total on receipts of cattle. with
$4,000 head for the week, 5000 head
in excess Of the same week in 1919,
which was also a record up to that
date. At the same time the week. s
receipts Of hogs at 171,000 were the
largest in five months.
The weeks average price for good"
beef cattle was the lowest since Dec
ember, 1917 at $11.25. The weeks
average price of hogs at 1920 was the
lowest since November, 1916. 1t is
the opinion of the best bankers and
business men of the country that 'it
is time to steady things up, and that
not only live stock but also that prices
of all grains have had more than
sufficient" shrink.
Time to Call Halt
Charles D. Michaels, market editor
of the Chicago Tribune, said on Sun
day: 'It is time to call halt on the
downward movement of values Of farm
products, for the best interests of all,
and unless it is done at once, its eff
feet on general business will be most
depressing. Despite the decline in
grain prices, producers have little
liquidating, which encourages specu-
lative selling"
Mr.. Michaels is correct. Receipts
at central markets show that the man
who actually owns the grain isn't sell
ing it. The spectators who wish TO
stampede the farmers are taking long
shots to bring the country grain to
the rails. That they will succeed in a
large way doesn't seem likely-at
least not in this year of grace.
From the high point in June corn
futures have declined 50 per cent;
compared with July prices. Surely the
most bearish conditions have already
been discounted, with wheat down 43
per cent in all this ruck in values.
No. 2 white corn sold in Chicago at
70 cents Saturday, with the best oats
selling at from 81 IA to As IL cents
on the sample tables. At the same
time December oats were going at 43
cents and closed at 43 ga. The clos
ing on December wheat was S169 and
on December corn GA IA cents.
Farmers Heavy Losers
No man needs be told that farmers
are losing kegs of money on every
thing they are selling, in view of what
has been written. If their land and
facilities were furnished free they
would still be losers on their seed and
labor, and on the feed fed to live
stock, more particularly where much
commercial feed was used or corn pur-
chased. No one will deny this, who
has the slightest knowledge of the
work necessary to raise crop, or to
fatten live stock.
Reported From Glen Miller
Rome Shurley stated Monday that
they took in 400 head of hogs Satur-
day, the price ranging from 10 IL to
II cents. For lack of cars they were
holding 500 hogs over the week end,
only one car being loaded Saturday,
though they hope to make a cleanup
shipment during the day. About 500
head of hogs came in during the week.
and had cars been available, accord
ing to Mr.. Shurley, perhaps double
that number could have been bought
The top on calves at the Glen on Sat
urday was IA cents; the top on lambs
7 cents and on ewes cents per pound
Market conditions did not warrant
us in paying copper more said Mr..
Shurley, "or we would have paid it."
Freight Too High
THE freight on a minimum 36-foot
car of hogs to Pittsburgh is ST and
war tax, at 40 IL cents per hundred
pounds, or a total of $S1. Larger cars
cost more to ship" This is Rome
Shurley's statement, and it seems a
tremendous tax on the farmers hogs.
Shurley says the cattle market is de-
moralized, except for the few choice
beeves getting to market. Some kinds
are almost unstable or at least it is
mighty hard to find buyers for them
at any decent price, Mr.. Shurley adds.