Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-06-13
HOW TO HOLD WOOL.
Shall 1t DO by Storing Here or With
Eastern HOuses2
a QUESTION FOR THE GROWERS.
The situation that Faces Many Utah
People Engaged In a Great
Industry.

with the present ruinously low price
Of wool, many OF the growers In Utah
have determined to hold their product
until later date, In the hope that
better returns may be realized than
are In sight at present Tho Import
ant question with them now lie, How
and where shall they hold a.? Advice
ha. been given In some quarters to
stack the wool ut home anu
many growers are doing that Others,
also men Of experience, prefer to ship
It east aud there hold II. Which ls
be.t9
Possibly onc.ihird Of the product for
the Territory has been sold at prices
which gave the sheopmen small return
or their labor Ofthc remaining two
thirds a considerable proportion has
MT been sheafod yet, aud the rest Is
stacked up awaiting a market, 20 the
discussion Of what disposal TO make Of
The wool on hand ut present is oppor.
tune. Astl pficcs 10 the future, there
is no certainty. They may 10 riightly
lower than they now are, but II can.
not be very faf ~ for long, When anu
how much they will raise depends
largely upon when the siringency in
.he money market " relieved, and 10
sumo extent on the tarin agitation.
Upon the question OF storing WOOL
Rjuuu Morris, Of the Iowe.MOrfis.
summorhays company, was seon by q
NLWs representative today. Mr
Morris IL known Ia the community ~
man OF experience In the wool
business, anu OF conservative iudg-
mcnt IN the way Of giving advice.
The inquiry wns put to MIN;
els your company In the wool buying
business now, aud what Is the prevail.
Ing average price?
"No, we are not buying now" was
the reply. awe are only shipping
little ON commission ior wool growers
who prefer ~ store their wool iu the
cant, und await n raise in the market
Inr price Of wool Is 10 very low, 10
unI II cents, that growers are not uis-
POSED 10 accept the figures, but prefer
10 uIli ami take ohancue on getting "A
better price,"
"Frjm your knowledge aui expert.
gucr ~ the WOOL business, whats t"
view II the best mcthou OF procedure
fDf growers, to uOid their iHudut here
o. ga eastern commission hUusek2h
"Mell, | will state the conditions
which exist, aud 1 believe proper
conclusion can be arrived at
without difficulty. In the FIRST
place, cOnvenieuCes for storing wool
In tho Territory nTe limited. ThOte
who do hold Il here usually have IL
stacked up anu covered over with fow
boards. Asarule II is not insured. In
the condition In which the wool Ia
thus kept II IL liable to destruction by
the elements, or from carelesSness.
The danger from fire l. particularly
great. The rick Ia that direction you
can see IL matter Of vast importance.
"rhen N we had houses In wuich TO
store wool oit would be safe from de.
HtructiOu, or II II was covered by in-
surancc, In our climate the growers are
steadily suffering n logs ON stored
wool. 10 gels dry, and steadily
becomes lighter In weight without
corresponding prospect OF Increase
In prizes. so n II Ia SAFE from belng de.
ftroyed, we cannot quart against the
climate, anu the loss by BhrlnkRge
would soon DO greater than It wOuld be
by selling II at the outset.
There IN another feature, also, TO
consider. While the wool IA being
hrld here, the money which II would
bring into circulation Ia not available,
tue growers are unable TO meet thtlr
bills, anu the local money market gets
no relief from what should be pFOllfiO
source. To mo II would seom 10 be
much better for growers TO hold
Ia the eastern market rather
than here. They can shin II down
there aud have 1t stored safely.
IL Ia insured while being shipped aud
after II gets there. Then II Ia not
liable, In n moist climate, 10 the loss
by shrinkage, which we cannot avoid
here. II IL Is shipped to reliable
house there IL no risk. Then should
Hn advance In the market come, the
wool 10 there 10 DO sold; but Il IL diff
fcfent thing To have II out here at
such time, awaiting shipment.
With his wool stored with Tcsponsi.
Die house In the east the grower Is
guarded from loss, his risk IL lesae ned,
and his wool IN ia the market.
"Wheu n grower shirs no need not
draw any money from the commission
house II he doesn't wish TO. But N he
desiTes II, he can get an advance OF two
Thirds the value OF his shipment at O
per cent Interest, and his wool held for
"a reasonable time. Thus he has
th0 use OF large proportion Of
hls property 10 meet his expenses. The
monty comes into the country, il cir
cuhlcd, and helps local business"
"Havo you seen any OF the wool
ul"d here for hUldiug?"
Nu; one lot which saw al Ccllinf-
tuu uu my return from Cache Valley,
ua pilod up near the railway track.
luu Showers had hauled 1t In there
htu stacked A.. A covering OF loose
tuarIs was over It, but there II wa, n
mrg quantity, liable to be set ON iite
any uhy by spark from passing
locomotive; aud as long as II escapes
h'u 10 undergoing a heavy loss In
Huuukage.n
Mf' Morris would venture no opinion
on the outlook for an Improvement In
lueesi TO him there was much uu.
certainty. His statement on The s.Otupe
ui wool affords, however, something Tor
thu growers 10 think seriously about.