Show the livestock situation by L A mcnaughton I 1 A Us loa angeles march 13 ably one ot of tho most severe tests ever given the livestock marketing structure came suddenly with the presidential proclamation ordering the closing of all banks bariks in tile tha united states accustomed to doing business strictly on a cash baste this athla became impossible and it was necessary esary to use a credit system entirely foreign to stock yards practices realizing tile the absolute need of continuing a flow of livestock from the country to the packing houses housea to mako possible necessary meat the los loa angeles angelas i food supplies livestock exchange decided it imperative ima hita the market b be a kept pera tive that tant open olien fortified with very definite Je finite knowledge of oa each ell packers packer credit agencies in some standing selling cases demanded cash tor for their livestock but in the majority patrons evidence of ca cases accepted bankable a and nd payable of indebtedness the re sump immediately upon tion of banking facilities this definite knowledge of the tha ability and character ot of lives livestock tk buyers makes the selling agency ot of unusual worth to the man in tho the country often times hundreds or of miles away with no possible means meang of checking up on the credit rating of the man who calls at the tanch ranch to buy his stock As might be expected there were many stockmen stoc kmen who decided to holl hold off the shipment ot of livestock during the emergency As a result receipts on the market were much smaller than normal and hardly sufficient to take care ot or gre greatly atly lessoned lessened consumer buying power probably this is oheans the answer wet to the advance in prices of all livestock during the past wook although there are many in the trade who are hopeful that live livestock prices price a may be stabilized on L higher level than prevailed ous to the national bank holiday certainly nothing would mean more to the welfare of the country generally than a general increase in farm commodity values ahli would help hell greatly in restoring buying power and in setting getting bust busl nese nes industry and labor back OR oa A profitable tooting despite the sort seriousness ausness ot of present conditions there appears to be more underlying confidence in the future than during any recent time tile the en emergency iorg ency has haa helped to revive patriotic fervor and confidence in the government as ag well as in each other |