The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-07-26
ACTION OF THE WOOL TRUST.
ihe Reduction in Prices causes n
General Discussion.

The Reduction in Prices causes n
General Discussion,
PHILADELPHIA. July 26.-The action
OF the American WodIen Company. com
monty known as the Wool Trust. IL max
ing "a general reduction Of from to p
pr cent in its different lines Of goods. has
occasioned considerable quiet excitement
here as elsewhere throughout the coun-
try in every department Of that industry.
which is exceeded in extent by only one
other
A remarkable indisposition to discuss
the subject for publication was found by
reporters who made enquiries as to what
erect the move Of the trust is likely to
have on the fail and winter business of
the trade 1t was frankly pointed out
that the American Wooden Company is 50
powerful that it could crush any of its
smaller competitors, if determined to do
So and would have no trouble in cTippIi1g
cloth firm OF clothing manufacturer
who might incur its dispIeasure The i'm
preston prevails, however that this &C
ton of the trust will do much to strength
en- the movement in favor of abolishing
the duty on wool and thus knocking the
foundations from under the trust itself
1t IS recognized that the reduction Of
the American Wooden Company coming at
this time would seriously unsettIe trade
and throw many Of the small competitors
outside the combination back to COndi-
tons in which the trade had been strug-
Cling tor nearly two years and until last
spring One gentleman, apparently faniI-
lar with the subject, said:
The trust bought great lot of wool
at an exceptionally low figure when the
whole trade was in d state of depression
some two or three months ago. For eigh-
teen months prior to this spring, the trade
was in greater state of depression, in
deed, than its oldest members could Tecol-
leCt- The trust, with it's twenty-sevan
mills and millions of capitalization. could
readily buy of the stocks that then went
begging for purchasers One Of the lead
ing organs of the trade remarked at the
time that even the figures that were given
then as prevailing wool prices were not as
low as could be commanded by certain
buyers. What was 50 great an advantage
10 the Wool Trust was sure to turn to the
disadvantage of its small competitors, and
the trade is now finding that out"
The gentleman here asserted that if it
were not fer the DingIey bill these con-
ditions would be impossible, and asked
warmly: why is not the price of wool
fixed in this country instead Of in Lon
don? The price of wool here is that which
is set by the London quarterly sales plus
the Dingley tariff duty of loo Per cent or
more"
EIucIdating these points. he continued:
on January 1 a leading Philadelphia
wool man was publicly quoted as saying
in answer TO a question as to the wool
prospects for the year. that these were
very good. but that nothing definite could
be then said as to the prices. as the Lon
don sales would not occur until the 18th
Of that month II we want a 100 per cent
protection on our wool. what sense Is there
having people in London establish the
price Of it? We have heard a great deal
about what the farmer Is entitled to, hut
the farmer has about as much to DO with
fixing the price OF wool as he has TO do
with the weather. Farmer-raised wool is
only an incident anyhow. You wouldn't
find sheep farm or a sheep station be
tween here and the Pacific until you
would get to Wyoming or Montana
The wool combination is one Of the
most formidable In the country. backed as
it is by wool men. spiuners, and ranch
men The small manufacturers are afraid
to make an open fight, and so are the con
sIImers. sho buy the goods tc make them
into CLOTHING. but the other consumers.
who pay the bills IN the end, are begin
ming TO see things in a way that would
probably make their Representatives. il
Congress thoughtful Take the fabric
made in the Washington mills fthe mott
CT plant Of the trust), sixteeu-ouuce clay
goods, which is more used than any other
worn by men in this country, and which
was selling at S.Iz cents a yard when the
trust was formed IN April, 1893 Like 9th
er goods, comparing prices OF that time
with the present, il has undergone an ad-
vance Of from 81 to 30 per cent. The men
who formed the trust said that at the SI1z-
that they were by consolidation hopeful
Of reducing prices. They got twenty-sev-
On Of the mills 10 join IN their supposed
losing business, but the prices nearly dou-
bled.
Prior to the operation Of the Wilson
bill, tnrce-fOurths Of all the class Of gOOCs
known al Clays and s-Tges were made il
the Bradford England market After
the Wilson bill passed the Washington
Mills Company, Of Lawrence. Mass with
its So looms, ana some independent allies
not known before the trust was formed
mOnJpOiiZed the whole market. and drove
the Bradford people out. and this was
done under free wool II under free WOOL
we can knock out foreign competition.
and give the American consumer the
same article at from prices 50 to % per
cent less than has since been charged, II
should keep the Wool Trust and its ad-
VoCateS somewhat busy explaining why
they now want LOO per cent protection