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Show LIVESTOCK SITUATION The doings of Bonds and Stocks during the past fortnight as reflected through the various exchanges make up sit up and take inventory, so to speak. There's one thing sure and that is that good income bearing securities, se-curities, properly founded, are worth just as much today as they were and any fictitious values made by either the so-called Bulls or Bears mean little in the final weighing. The only serious consequences come from fear and the tightening up of the purse strings, failing to finance going, worthy and necessary lines of business, which must carry on if we are to endure. Live stock values have not been seriously affected so far, and the thing that will affect them is the failure of the usual financial fi-nancial channels to properly function, func-tion, forcing untimely liquidation. Out west agriculture and live stock constitute our biggest business and the financial agencies who have so well served th cow industry for their duty to the industry. The question ques-tion of cost of the money is not so essential compared to having it when and as needed. Generally speaking, the best friend of any business is the one who knows most about it. The method with the least "red tape" restrictions, and greatest flexibility, is the most available avail-able one. Many of our Middle West bankers and farmers will remember the great hardships due to foreclosures by the Federal call of loans, following the close of the war. Apparently personal person-al contact and dependency are still material factors in the loan and rediscount redis-count business. Ties of friendly business associations associa-tions ought not to be too quickly broken and the middle of the stream is still a Door claoe to swaD horses. Cheap money isn't always the best thing because It is too frequently an invitation for new comers to engage in the business, resulting in overproduction over-production and unprofitable operations. opera-tions. Again it many times blinds us to results much more costly than the interest rate. For example, inefficient in-efficient salesmanship so it is well to look carefully into tho record of any new plan to make sure of its soundness in principle; hence, the likelihood of being able to do what it proposes to do. Let's keep in mind in considering new ideas, that anything which increases in-creases the cost of buying or adds to the cost of any part of the industry is merely shifting the burden and won't help the Industry as a whole. |