South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-28

Ll0E confronting the I'VE STOCK mo U.s.
try was decidedly acute. The breed
ing herds were being sacrificed and
young stock not ready for market
was being sent 70 the block. endan-
gering our future meat supply But
the Act gave the Corporation ade-
guate funds and authority % deal
, with the problem on a comprehen-
slse scale and during the past four
or Ave months 10 has authorized adj
vances on live stock aggregatins
nearly $50. 900 900 Under the Jaw
loans may be madA for a period of'
not 70 exceed one year, and these
loans may. IN proper cases. be eX-
tended for an additional period OF
not 70 exceed two years, thus giving
the stockman time TO carry through
his operations without the necessity
OF sacrificing his immature and
breeding animals
One outstanding development al
ready an accomplished fact Is the
establishment OF new live stock loan
companies in the principal stock
growing States. Tho Corporation has
encouraged the bankers and business
men in these communities 90 form
such companies. each with subs-an-
tial capital .n order 70 make its re-
sources readily and effectively avail
able in tte emergency.
In The Corn Belt.
In the Corn Belt. many farmers
make il a regular practice 20 buy
young live stock. and feed and fatten
them with corn and other field prod
ucts: in other words. 10 send their
crops 10 market ION four feet" NOT
mauy. about eighty percent Of the
corn grown in the United States is
fed 20 live stock And this process
takes time. For instance. it requires
from eight 10 ten months to fatten
-year-old steers FOR market and
calves a. long as a wear The farmer.
with his barns full of corn. needs
considerable time if he is going 10
turn Il into beef pork or mutton.
The corn crop in the last two years
has been extraordinarily large, the
total production amounting 20 APP.
proximatelyN 800. 600 900 bushels.
And the collapse in commodity
prices tied up the banking facilities
in the Corn Belt and made IL impos-
sible for the farmer TO finance his
feeding operations in the usual way
and in the normal volume. He had
been accustomed 20 feel that when
ne had "A good crop most of his trou-
bles were over, but he suddenly
found that they were ouly beginning.
He was not in position 20 finance
the marketing Of his commodity over
a IonEet period. He could not get
even his usual accommodation in the
way of funds for the purchase OF
feeder stock; and it began 10 look as
if there were only dark days ahead.
some Figures.
What il means 10 agriculture 10 be
in a position to spread the maEket-
ing of its output over a longer period
OF time is indicated by the difference
in the outlook for the Corn Belt
farmer in October. 1921. when the
War Finance Corporation began in
tensive operations in that section, /
and in February. 1922 when those,
operations had had time TO make I
themselves felt. In October, corn /
was selling at country elevators i'm /
Nebraska and Iowa az about 90 cents
a bushel In February il had risen
20 so cents and reports indicate
that farmers were getting the equiv /
alent of so TO go cents for corn mar |
keted through live stock.
The man who is in a hurry TO sell |
is at a great disadvantage. And this
has been the customary plight of the
agricultural producer. As soon as
he has crop he is under pressure
10 sell. Either he has TO meet a note
given TO cover his last productive
EFFORT. or he needs ready money to
buy supplies and equipment for his
next operation For one reason or
another the necessity has been al f.
most imperative 10 market his out I
put as soon as possible after harvest. [
At harvest times the national mar |
ket is crowded. so TO speak. with /
farmers anxious to sell. Products
are abundant and prices relatively
low. Six or eight months later when
the consumer is beginning 90 think
about supplies for the rest OF the
year. prices are up and the farmer
usually has little 10 sell. 1t would
be better for the farmer If he could
spread his marketing over q longer
period because in the long run he
would probably get more for his
crops, 10 would be better for the
railroads. because il would mean a
more even use OF transportation ia
Cuities. il would be better for the
consumer. because he would have
more assurance of getting supplies
at stable prices throughout the year.
Copyright 1922. by the Community
News. Service).