The Meeker herald. [volume] (Meeker, Colo.) 1885-current, 1921-12-10
AN EMERGENCY EXISTS

Among communications received
from live stock men In this state re-
gartling their plight and the need for
immediate assistance, We select one a.
typical Of a number, different In de.
tail but all bearing on the point that
unless prompt action Is taken the state
will suffer not for the present alone
but for years to come.
I The correspondent has cattle ranch
Of seven thousand acres. Two years
ago 1t might have been sold for twenty
dollars an acre. The ranch is assessed
for taxation purposes at $4,000. There
are a little more than six hundred
head Of cattle. complement Of horses
and mules aud machinery. The ranch
Is mortgaged for $4,000 and there Ia
n mortgage on the stock and improve.
ments Of $4,000.
Before the order Of the federal re-
serve board went into effect for banks
to Gu. and cut deep into farm loans In
the West, the owner Of this ranch be-
lieved himself well to do and he was
so considered by those who for busi-
mess purposes had investigated his af-
fairs. He. with his family. had worked
for nearly score Of years to make
the place what 1t was and In no doing
added to the wealth OF the country and
the state.
II his live stock IL sacrificed today
the mortgage cannot he satisfied. al
tho eighteen months ago he had
large equity In 1t.
Before the drastic loan curtailing
order Of the federal board went into
effect he had IL handsome equity In
the land. II he cannot hold OH to his
stock he will lose home and cattle and
everything he Inns scraped together and
he adjudgetl a bankrupt.
On his loans until the other month
he was prompt In meeting payments.
When he recently asked for an exten-
sion Of time he wns told by his city
bank to take his business elsewhere
and close his account within a given
time. He has been borrowing cattle
feed from ncigi1.ors to escape sending
all his stock to market ut Il time when
prices are exceptionally low.
II 1t were few months from now
the situation for him and all concern
ell with him would be different In all
likelihood. Prices would he near nor.
NAL Pressure on live stock men from
banks and other loaning agencies
would he relaxed; the borrower would
have time to look around and protect
himself
The federal government ut Washing
ton thru the War Finance Corpora
tion IL ready to aid In just such case
as the one we have detailed-and we
could repeat dozen similar cases
but 1t is u long cry from Eastern Colo
RADIO TO the national capital and lot
of red tape has to he unwound before
live stock man can be reached and
helped. The red tape can be got around
by Colorado banks and commercial In.
tcrests so that aid may reach the deb
tor man before he goes under. They
can make up at once. II they will. the
subscriptions TO the local loaning banks
and corporations. The time to do this
Is now to keep back the pressure on
the market which IL being glutted and
at the same time relieve the local
banks Of their loads. Denver will prove
itself unusually shOrtsighted II 1t fails
to go to the front In this emergency.
Denver is he focal point for the live
stock industry OF this region. a lot OF
bare ranges for the next few years
would tell Its tale In the city.
The above refers to a case Zone of .
manyl near Denver There are q mum.