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Show CATTLE INDUSTRY IN READJUSTMENT Roger W. Babson Thinks Present Bitter Medicine Will Bo Beneficial In The Long Kun. Babson Park, Mass. Sept. 11, 1924 Since the receivership of Wilson k Co., the great packers of Chicago. Roger W. Babson has been making a study of the packing house situation situa-tion with special reference to the cattle business. An exclusive sum mary of his report follows: "It has generally peen known that the cattle raisers of the country have euffered severe ,lo?ses diiring the past few years, but few realize the extent to which the business has been liquidated," says the Statistician. Statisti-cian. "Briefly, rhe situation la thit before the war. in 1DH. rattle were pe'.ling at aroun 1 $9.00 pjr cat. on the hoof in Chicago. The price wf-ia up to $17. ',) In August 191f. By December HilM it had declined to a low of $1.4 0. The present price Is approximately $ft.f,0 per rw. Live beef H selling in (hb-niro et nrft-war nrices Alt rr.ut. l .1.,. Industry meantime are of course on the post-war wale. Considering that there are as many, or more, cattle In the country today than tver before this means a loss of hundreds of millions of dollars, which has been absorbed all the way down the fine from the, ranch men on the pra.rles of the great West to the grocers who hcII the canned beef. Everyone connected with the Industry In-dustry has suffered almost continual lomes since Aug.ist 1 'j The re suit of this has he n that the country Is do'tei with failures here ami there starting uit?i the farmers am! the ranch men ami running thru to the great packers of Chicago. Otlnr groat Industries, such as copper, leather ami oils, are In the procem cf liquidation arid readjustment; lnn none of ' tl.crn have suffered so severely ;,s has the entile tnui'nesH. "This very fact, however, makes me opMtnlvIe rather than pcimW-tlc pcimW-tlc on the ra'tli. Industry at. the present time. T, failure of Wilson Wil-son Co. may he the storm before the clearine. 1; h aUa -larkest Just le-'ore rlawn and a general cleaning up seems ,, ). Inevitable before an Industry tigairi le-fi'iis on the upward trend. The 1 Irj u lilaf Inn In the cattle induatry lias been very drastic. farmcr-i. caMle men, and packers have t.-k-n tremendous losses. loss-es. Kali' he , I,, the Weil whlcii Bold for I I oo.ono ten years njco can now be l ouglit for one half or one-fhlrd one-fhlrd this sum In some states, like Wyoming, the entile Industry hi heiomiiiK almo'il crtinci The rareh men are rradually clo't-liu; out huelrie., n m uli ' ppi tig their last 'Utile. The.,, very fa'tl, however, lea. I i:e o belle v.. II;., t lie 1 1 ,, , , , a . tl'io Is nh'f it fompl'.ie nii'l Miat ii.n-d''lona ii.n-d''lona rfio uld q .'.n Improve Ilute-lv Ilute-lv 7. hcij a tfinn Is flat on Ms back there U only one way he mri look; li in.'-:;,, u i i w .it . I . The- I'aLtlo ill-ilu.:r ill-ilu.:r is leri.inily oil its back ul :!ie jin ' cut time. " I vr 'em. 1 11 y 1 am more houeful on the price of l,e,.f (or the Ioiik l".ll than I am on tiie ithu of i:u.' other . inducts. ,h immimIo bei-onie , in, lie p r ..-1 1 1 u i they e.it iuor0 beef. th.it the con uimi Ion of beef In-i In-i ti-. i -en I'U'ii Inn' tho liouulat Ion 1 ri in. linn ri n - t i n I . Thin In not so in the c.n,. of w he.it, for limlancc. A v. ell to do family do.-M not cat ;1t i" licit than a m.ir family, an. I 1 1 r . ' . 1 1 1 1 - not ai lilinh. On the oi her 1 1 . ml, a well to do family doe i ' I" nd re on beef 1 liau a jumr fa ;ii ly ( if i nil I '., I he beef 1 1 1 1 1 1 I r y ll.'.'l been MiM'lely hit ,y til." autil- mobile .Many m i.,e w ho have bo i. '.lit aulomobilc s duillii: die i..t fw v.iii have found It liecesia r jlo einmilill.il on 'loniel hln,; In order lo pay up I lo ir nole-i oti the iiulo-' iiulo-' uiobile and buy i: :i 1 i n e, oil. uiul . tilo-i. title of Hie few lliltuvi they uolllil ci'iinoml.e on u:, f They oimd in , e;am!lal tn evlalalicc and that Ihey could j;et on with I' ' lllllll they fiiMllelly pll I'i'lllt seil . lloHour, ai (h iiintiy celii ad iu'de.l lo each family hiivhii; an .tiitoiuobile the demand for beef will k:i;ii liicieaic. I'l'iipln hiivn nl-uava nl-uava eaten beef and alwavH ll without iloiibl over a lotu; period of .lara the per capila ciiiimiiiii pi Inn In in. uiul In Inci eaae, , n, opt IiiiIhI lc en Mm I f lliilimliy f,,r the Ioiik pull." "Why Iiiik not Ihl'i decline In the in Ice or i ' i llli. been reflected more In "" '''liiil prl ' al pro.lii.-l i"" Mi'. l:abiou waa ii'iUcd. 'I'n which I'l" .1 inn lie h anlily replied, '. ,!,,, l.llmv." lonl illllilli: be nil, I; I "Slati'illi h i leal ly hull. at,. hnt Ihe 'ii mm mer linn not yel received the I "! " ' (I I of t In- decline of cattle on the ' I f. Why, I don't know, If thu 1 l -ukers were making h.g moii y r.ow we would know- th.it they were b. ;.. lit. ni; In this decline la the price of c.ltile. A.S above, stu'.cl. brAi'LT, no on,. In in akin; iiini.ey and ll..- price to the iiii'.Mi r in s:;U fairh l.l.:ii, Thii mu m. an ia.it '. re is vmie Weakness In the .--.'c::l o' din lor i..n. 1 1 m.n be '. a: t i r.iilt.ia.lH or the tr.ii k. or the r. t cNta;.. Interi-sts, or ome ..'.'u-r i;r.i,ip .ir.. i b.,;i;,ti,; tlie mate of be. f fr.cn the hoof (,. the home. '1 1;. IVpar'-tncM IVpar'-tncM of A.-rlcul:'ire al Washing:. in 1 tn.ikini: s.mie studies of this s:tu. lh hi. ..nd :!e. !,.. ar,. in:, re-t, .1 shoulil write to Sir.-ia-y Walla., for t lie r.-nilti of t !i, ,. ,!Url ,. . H Without doubt the price o,' n,-.it pro-diii't.s pro-diii't.s should bu lower to the c,i;i suinor, but how to brit,.; tli s abnn' with evcrynne limine mom y Is d.f-ficult d.f-ficult pmblcm. I nipnrt.int Interests are now at work endcivoritic to untie tho knot. It Is ery po.-o.ihli that It may have tn be rut with a kntfe. This thought may have been In the mind of the Jud:e who a; pointed the receiver for Wilson 'o. Of course. s,i,h drastic treatment treat-ment (emponirily hurts luisiness. Ihe I la bsniK'h.i rt shows general ac tlvltjr at 12 per cent below normal hut in the Ioiik run it often s for tho liMt." |