Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1894-10-25
Wool not Going up.
Theodore Justice Writes a Letter tc
Senator voorhees,.

Theodore Justice Writes a Letter to
Senator voorhees,.
PHILADELPHIA, Oct t0,-Theodore
Justice, senior member OF the Phila-
delphia wool commission firln Of JUS
tice Bateman & Co., addresses the fol-
lowing letter 10 SenstorV oorhees:
Hon. Daniel W. Voorhees,, Terre
Haute, lid. Dear Sir: ! am very glad
to see in the Press of this date that IN
speech at Jefferson, Ind, on Mondsy,
you predicted that wool would sell
within two weeks at prices higher than
prevailtd at any time under the Mchlr-
ley act Z" Every wool grower will be
glad 10 know that there is some pros
pect for 2 ch' cx 20 the decline IN Amer
lean wool which has taken place since
wool was put on Il e free list IN Aug.
q, for since that date the finest wool
in your state, viz, Indinana merino un.
washed, has declined over IL per cent.
and the price is still dropping and
Ohio Xxx, which IS the standard grade
OF American wool, has declined over 10
per cent. since wool was put on the free
list, and is still going down.
If you feel confident CT your predic-
ton that wool will sell w.thln two
weeks st prices higher than prevailed
at any time under the MCKINLEY act,
the firm Of which am member, can
offer YOU sn opportunity for a profitable
Investment in wool. They viii furnish
Xxx Ohio, which is about tie finest
grade of American wool, at lo3 cents
for such sold at 800 cents on March |.
1898, decline OF over SO per cent,
since the Mckinley law was admins
trated by General Harrisons admins
tration and Immediately before tariff
revision was begun, and which sold at
341 cents in March 1891, Immediately
after the Mckinney law was enacted.
An advance in the price within two
weeks from 1sl CENTS 10 S4k cents, the
highest price under the Mckinley law,
would be an advance If over So per
cent. paying a profit of 100000 on
each 81 100000 pounds of wool bought.
Here is an opportunity to make money
if your prediction is correct, which sell
dom occurs in life time, and il you
desire to make the operation, my firm
will furnish 80 per cent Of the money
required. and will buy the voc! for yon
and you can secure as many million
pounds in the markt IS of Philadelphia
and Boston as you will probably want,
as every responsible wool dealer in
these markets will be glad to take
your business on the same terms
As the Mckinley law on "manufact-
ures of wool" is still in force, and as
the reduced duties of the senate bill do
not 90 into effect until Jan. l, 1895,
and as the mills already have free wool,
of course they are busy. The contrast
between busy Anne rican wooden mills
and a dull American wool market with
falling prices is one Of the first fruits OF
the repeal of duty on wool. Many
manufacturers, VITO under the McKin-
ley law wool schedules previous to
their repeal were using American wool
exclusively, are now using foreign
Others ere now using foreign woods to
mix with domestic. who previous to
the 9th of August, were using the lat
ter exclusively, so that the promised
increased use of American wool (under
the new tariff law) for mixing purposes
has not been fulfilled. but, on the other
hand, American wool has so far been
displaced by the use Of fore ign as to
make the former almost unstable, in
volving concessions in price in order
10 place American wool on even terms
with foreign wool. 1t is exceedingly
gratifying to learn that Americans are
soon to have an advancing wool mar
ket. for under the new tariff bill the
only declining wool markets in the
world are in the Uaicd States, while
foreign markets are advancing, as you
will see by reading the daily cable re-
ports of the London wool auctions.
American woods have declined at
time when the American mills. which
are still operating, under the Mckinley
law. are the only mills in the world that
are at present crowded with orders
Very truly yours,
THEODORE JUSTICE.