Show the livestock situation dy by L A Ma Mo NAUGHTON los angeles march 8 in view of 0 tile fact that tile tho livestock bust noss has haa be beon been on on a strictly cash basis at the central markets to tor r many bearo stockmen stoc kmen men are concerned over the batik bank holidays mid and apparent trend towards restrictions strict ions on oil cash withdrawals in many states probably the livestock business la Is unique in that through good times and bad the stockman has haa always boon been able to obtain immediate cash for hla his live stock provided lie he sold at tile the central markets this condition Is not likel likely y to change all buyers and sellers at the stockyards stock yards markets are fully licensed anti bonded under supervision of the federal government thus the man who ships livestock to tile the open market Is doubly assured that lie he will receive quick cash for whatever he has to sell those and other regulation atlon surrounding tile the livestock trade have been formulated over a long period of years with tile the express purpose of throwing every possible protection to tile the producer who ships to tile the open pon market selling agencies ure are required ired to place the proceeds of every sale into a n separate bank account tor for the account of every seller many states have adopted some restrictive legislation on withdrawals of actual cash the need tor for the bat national ional action to formu late protective methods metti la Is ent to tho end of assuring depositors of the security of their money out of these difficulties will come practical legislation to protect both the stability of banks banka and the wilds funds of depositors it Is probable that wo we will have national legislation placing all banks under direct d federal supervision it la Is to be hoped that the bad effects which came from state guarantee of banking tried and found wanting in several states may bay serve to guide us iia to a practical solution of this important matter maiter to the end of assuring stabilized credits and sound banking we may look for some pretty quick ana an favorable action to correct the weakness that has haa existed right along but it required the present conditions to prove the need for remedial action there Is alpar bontly no need for apprehension because the foundation Is sound and there Is reason to believe that when we get through tho the structure will bo be stronger and more secure in every way |