Evening star., 1924-07-15
FARMERS SPEED Up
IN PAYING DEBTS
Harvesting Starts Flow of
Money to Banks-Hog
Prices May Advance.
BY J. C. ROYLE.

Special Dispatch to The Star.
NEW YORK, July 15.-Liquidation
of their debts Is in full swing among
the farmers of the southwest. and
middle west, with consequent i'm
provement of the banking and busi-
ness conditions throughout the coun-
try as a whole. In Oklahoma and
Texas the wheat harvest practically
is over and 1t is rapidly nearing COM
pletion in Kansas. Grain is moving
into Kansas City at the rate of 400
cars or more a day and shipments
are expected to advance to 1880 cars
soon. Other centers are experiencing
similar movements. The movement
was only half az great this time last
year.
Great Help to Banks.
Payment of farm debts began almost
simultaneously with shipment of the
first cars. Country banks are paying
Of their loans from larger insttu-
tions, and this will have a strong
influence on the Hquidations made
by banks which have failed in the
last two years. Bank failures, which
for three years have been frequent
in Texas. have diminished to a point
where not one has been reported for
five months.
In Kansas the estimated wheat
yield amounts to 130, GOO, 900. bushels
compared with $4,000, 900 bushels last
year The Oklahoma estimate is 49,
100000 bushels, an increase Of s,000,-
600. In Nebraska and Colorado the
expected yields are 45.00o.0O0 and
24,000,000 bushels compared with 2S,-
100000 and 100000 respectively in
1928.
Plenty Of Harvesters.
Oklahoma and Texas had ample
supplies OF harvest hands, although
there was some delay i'll arrival Of
workers in northwestern Oklahoma.
This however, did not result in crop
damage. In Kansas a larger area
demanded more men at the same
time than is usual and the number
recruited and brought into the State
was heavier than last year. The H.
000,00O acres of wheat in the three
states required $4,000 outside hands
to harvest them.
Kansas farmers who are finishing
up. now are directing their outside
help to points in Nebraska, which
State however. will not require an
unusual number Of workers, although
temporary aeld headquarters of the
United States employment service
have been established at Omaha to
route them.
Dear Corn and Cheap Hogs.
With corn quoted above 81 a busheI,
chart a course which will yield them
profit despite the wide divergence
between corn and live stock prices
Corn prices are nearly 90 per cent
while the estimates Of the Depart.
ment Of Agriculture indicate a corn
yield nearly ! per cent lower than in
1928. Much of the corn grown is not
portion is sent to market in the form
Of meat. Both cattle and hog prices
are now low.
Many farmers, therefore, are rush
to avoid feeding high priced corn to
low-priced animals. Slaughterings in
the last month have run about per
cent above those for the correspond
ing period last year. In order for the
farmer who translates his corn into
must decline or live stock prices ad-
vance Hog and cattle prices now
are near the 1928 low point.
Hog Prices May Advance.
With the indicated yield in the eight
states producing the most corn 25
per cent lower than last year, the
impression prevails than an advance
in livestock quotations is the more
likely. The year started with 100000
less hogs on the farms than in 1928.
Slaughterfngs UP to July / broke all
previous records. The number of
cert below those of Ghe spring Of
last year. while sows bred for fall
farrowings were per cent fewer
than was the case last year. Cattle
have followed the same general
not been relatively so heavy.
Advance in live stock and wheat
prices undoubtedly would be reflected
in meat prices to the consumer.
Those corn growers who car market
their grain direct will benefit by
present high prices. but these do not
include all who raise that grain.