The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-07-04

ment, and the wool season may be said
to have become a thing of the past in a
certain sense. OF course, there are a
few small clips being held at various
points for the advance which is stead
lily coming. With these exceptions the
clip of 1895 is out of the way in this
section of the west. The buyers have
turned their attention to the north,
where, i'll Montana. things are now
fairly humming. Prices are soaring,
and at Billings, Dewey, Gould 4, Co.
yesterday purchased the clip of James
Richardson, $4,000 pounds, for 1925
cents, and that of August II. Barth,
about the same number of pounds,
paying therefor 13 cents. Other buyers
are said to he paying as high as IA
cents for wool. While the Montana
staple is a little better than the Utah,
it would never bring such prices were
1t not for the fact that the markets
Of the east are Just now on the boom
and quotations are advancing all along
the line. One of the heaviest firms in
the east is that of Justice, Bateman e
Co, of Philadelphia, and these gentle
men see how things are running and
are now loath TO let the growers know
that they are bound to make money by
holding their clips for the advance now
on. In their last report of the condi-
ton of the wool markets they make
the following important statements:
The wool market during the past
fortnight has been treated TO one of
those surprises that occasionally oc-
cur in the trade. Prices have shown
a downward tendency with only brief
interruption since March, 1898. During
that time there has been shortage
developed in the clip of the United
States estimated at $4,000, 600 pounds.
Unprecedentedly low prices, coupled
with exaggerated estimates of this
shortage, have inspired confidence
among spectators, who believe that
at this time. with bare eastern mar
kets, it is possible to corner the clip.
so that operators in the wool. growing
sections have been eagerly competing
to secure wool, regardless of its value
in the central markets of the world.
In anticipation of an advance, prices
have been paid that were above those
current for the past two or three
months in eastern markets. AS almost
all of the clip of 1894 has passed into
consumers hands, and as the new clip
has only just begun to arrive, the sea-
board markets are comparatively bare
of everything except foreign wool.
1.-The speculation in wool growing
sections has been so universal as to
have intercepted supplies of the do
mestic clip and thus for the present
kets.
'4Those manufacturers who have con-
fined themselves to the use OF domes-
tic wool show extreme reluctance 10
use imported, and are being forced TO
submit to an advance of to cents
per pound, rather than give up the use
of the domestic wool which their con-
tracts require.
''This upward turn mas come OF a
time when many of the wool growers
of the United States will receive the
benefit of it. Much of the prese1: clip
is still in first hands, so that WOOL
growers should profit by the advanc-
ing tendency which has apparently
only Just begun. Wool should be Tor
warded to the eastern market ana
held until the extent of this upward
movement can be determined. The
fact that so many manufacturers
have turned to foreign supplies indi-
Gates higher prices abroad Anerl-
can wool has been jumped upon so
hard during the past Two years thas
the recoil is not to be wondered at.
The effect of placing wool on the free
list and the dread of competition
with the markets OF the WOrl1 at Il
time when foreign prices were the
lowest on record, had the effect Of in
juriously depressing both buyers ard
sellers OF the uODlcStlC (ilf. LIS IL
months experience with The cheaper
foreign substitutes has developed the
fact that American WOODS have merits
far superior to many kinds OF fore
ign; the only advantage of the inn
ported is in its greater cheapness.
and while the foreigner will nor ne
glect the opportunity which this
boom offers to introduce his wool
into the American market, it cannot
crowd out the American clip except
by underselling it,
W. l.. Pickard returned from
Wyoming last evening. having loaded
the woods purchased by him the other
day at billiard and Evanston. lie
reports that the country is pretty well
cleaned up and but few of the buyers
are now in that field, having turned
their attention to the north. At
Wasatch the 100000 pound clip of the
Deseret Livestock company is now be-
ing loaded. shearins having just been
finished. There will be fourteen car
loads of this wool and consignment is
to be made to Boston. The buyers
paid 91s cents for the clip and since
the date of sale 9A cents have often
been paid for clips of even inferior
grade The buyer for the Provo
Wooden Mills company secured two
carloads of good staple at Evanston
the other day and shipment was
made to Provo yesterday.
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