620 A HISTORY OF HEREFORD CATTLE 



the case of top cattle. This, however, was not with- 

 out its redeeming feature. It gave the western 

 ranchmen just the opportunity needed to extend 

 rapidly the sphere of Hereford influence on the open 

 range, and this was taken advantage of to the full- 

 est possible extent. Many speculators and " but- 

 terfly breeders, " as someone happily termed those 

 who are active only when prosperity's sun is shin- 

 ing brightly, already had disappeared from the 

 ranks when the great panic of 1893 fell upon the 

 country practically without warning, 



