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Show 28 COMMISSIONER OF INDIAN AFFAIRS: the sureties on the bonds of the banks permanently closed paid in full both principal and interest. PURCHASE AND TRANSPORTATION OF INDIAN SUPPLIES. A pronounced change in market conditions occurred within the year. The early months showed a continued scarcity of supplies and material with consequent high prices,, which condition, under the pressure of the so-called "buyer's stnke,: reversed itself very de-cidedly during the closing months, bringng about lower prices in many lines, much to the relief of this se'mice. The change likewise was apparent in the increased competition secured through advertise-ments. Competition on Government pur~hase.sis a fairly accurate barometer of commercial conditions, , or, if busmess is ood on the outside, there is apparently little desire to supply the 8 overnment, unless the volume is large, but when, as for the past several months, business is at a standstill, then interest in Government orders is awakened. This service has benefited accordingly. The opening of bids and awarding of annual su ly contracts took lace as usual in the spring of 1920, at Chicago, %. Louis, and San grancisco, also at Washington D. C. on coal, beef, pork, mutton, and oleomargarine, and in the Jall at &hicago on dried fruit, canned goods, cereals, flour, and other products. The regular list of supplies was purchased in the spring of 1920, except where the reaction in prices had not definitely taken place, as with sugar, shoes, linseed oil,, ,and nlunerous other items.. By a careful analysis of market conditions later purchases were made at a considerable saving. To illustrate, sugar at the usual time of buyin8 was quoted ip New York at approximate1 23 cents per by holdin off it was purchased for Decem er delivery at % t !.rcents and for ebruary dellvery at 7.5 cents per pound, a saving of approximately $90,000. Linseed oil, offered in June, 1920,. at $1.85 per gallon,. was purchased in March, 1921, at an average prlce of 85 cents, a saving of approximately $9,?50. Sole and harness leather were bought later in the season at a saving of approximately $4,000. The larger part of the leather shoes were not bought until they were actually needed. In the fall, after a third advertisement. when prices had dropped approximately 25 per cent, they were contracted for at a net saving of about $13,000. Field officers ordered for the year only those items and in such quantities as they felt were absolutely vital to the successful opera-tion of their plants. Reserve supplies since the outbreak of the war have gradually been depleted, until a surplus now exists at the end of the year at few, if any, places. Such surplus as exists and is not required at the point where located is transferred to other places where the supplies can be used. It seems, therefore, that the quan-tities called for by the field officers, generally speaking, have about Aached the minimum status. The surplus of other departments, particularly the War and Navy Departments and the United States Ship ing Board, has been drawn on whenever reported on any items or c f' ass of items for which this service was in the market. Many thousands of dollars' worth of material and supplies have thus been obtained during the fiscal year 1921 and several pnor years, and this cooperation will continue with |