Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1927-04-08

"
That the physical conditions OF Nor
tana's agricultural industry Is good WAS
told to Montana Commercial club secre-
taries by Statistician JAY Diamond, at
the annual convention at Billings recent
ly, speaking on the subject: What WIN
Montana Produce in 1872"
The physical condition of Montana's agri-
cultural industry is good. Relatively is
would appear to be In somewhat better
shape than in any preceding year OF the
postwar period. All OF the general lndica-
tons bearing on the ability OF MOntana
agriculture TO finance its 1927 needs point
to a sound financial condition Of Montana
farmers. In fact even in the eastern dis
tricts OF the state where l92b drouth was
severe, | am informed that there has been
q decrease in the number Of banks borrow
ing from the Federal Reserve compared
with a year ago. Likewise in this area
there has been a surprisingly small number
Of bank failures during the past year.
Montana farmers have liquidated a large
portion of the war time debt. Consider
able replacement of farm machinery ana
farm equipment has already been made ana
with an average season in 1927 1t may be
expected that Montana farmers Will further
Improve their purchasing power.
March l, farm reserves of grain lnclud-
ing wheat, corn, oats, rye ana barley an
estimated by the State-Federal crop Re
porting service, totalled nearly 10 million
bushels compared with u million bushels
a year ago and the hye-year average March
/. reserves of IT million bushels. This In
dicates that Montana farmers during the
1926 marketing season have not been forced
to market their grain to satisfy indebted
ness. 1t also indicates q relatively good
portion of old crop income yet to be re-
ceived by Montana producers.
The outlook for Montana agriculture In
1927 from a state standpoint may not be as
good as a year ago from the standpoint or
market demand for its principal cash crops,
but from a production standpoint Montana
will need only an average season to exceed
the production that was secured Tor most
Of the crops In 1926.
THE two main sources of agricultural
income are sales Of farm crops and sales
Of livestock and its products, he saiu.
THE most important item in Montanas
crop income is that from wheat when IN
1926 represented about II per cent of the
total. Montana agriculture has been slowly
adjusting itself during the past five or six
years OF the post war period, to condi-
lions brought about by the unequal de-
fiation between farm commodities and man.
ufactured commodities generally.
"From a low point of 147,413 head Of
cattle marketed in 1921 yearly t%urnoffs have
increased steadily reaching 407,365 head In
1925 and 504, 472 head in 1926.
''In 1921 there were $4,000 milk cows on
Montana farms; by 1870 there were lSi,Ooo
and in 1926 were 192,eoo.
From 1921 to date Montana has been
entering her second great expansion perio0
of sheep raising. The sheep population has
raised rapidly from about 2,000,0OO in 192O
to nearly 3,000,n 900 head in 1926.
obviously Montana will continue 70 re.
peat IN large degree her program OF l92c
SO far as relationships of the various crop
and livestock enterprises 20.
Other Montana Industries
Just a word as to the outlook for the
other important Montana industries, for
which l win briefly summarize the general
comments.
'Mines-The production OF both metal
mines and coal mines is not expected to
show any material change compared with
1926.
"Lumber-The lumber industry in the
state Is in a neutral position and NO ma
terial change in 1927 production is expected
compared with 1926.
"Oil-A further big development of the
oil industry In Montana this year is as
sured largely by the fact that it is still an
infant industry and development work has
been proceeding rapidly over a large area.
Most observers look for practically double
the 1926 production, in 1927 largely through
new production.
Observation-Disclosures of manufac-
turing in Montana is recording a normal
growth that is expected to continue steadily
through 1927.
neutrality-suspicious. still has much OF her
post war building program to complete,
also considerable new building is expected,
Railroads., and many of the important In
dustrial concerns Of the state have already
announced substantial increases In 1927
building programs over those of 1926.
Observation-Disclosures In Montans
in 1927 is generally expected to show some
increase over that Of 1926. Farm labor
needs will be as large If not larger than
in 1926 and other industrial needs are ex-
pected to show Increases generally