Rosebud County news. [volume] (Forsyth, Mont.) 1901-1906, 1901-04-25
OUTLOOK FOR WOOL.
Supply Less Than It Has Been for Seyera,
Years, and Good Demand for
Montana Wool.

JUSTICE, batemdH u So., WOOL COM
mission merchants OF Philadelphia,
have just issued a circular. in which
they say:
The bulk of the sales being made
are of territorial wool.
Sound staples merino clips, suitable
for coinbing purposes, have been SELL
ing on a basic of ~ 1-2c clean.
A few fancy clips, like the Larabie
clip, of Montana, have brought as high
as 45c clean secured; but short and
tender average wools are hard 10 move
at more than 4Oc clear, although old,
notify. bankrupt stock, the clip of 1897
and 1898 has been sold as low as 35c
clean.
Buyers have been canvassing the
market on this basis, but most wools
are now held at AZ l-2c for the best
grown clips. Very little fine terri
tory wool can be bought today below
4oc secured, although medium can be
bought on secured basis of 55c.
Although there is an apparent in
consistency between Il hrmer wool
market, and at the same time the low
est quotations since 1897, yet these
contradictory conditions have been the |
essential feature of the wool situation
during the past month.
Notwithstanding the Improvement to
the tone of the market however, so
much wool is still offered for sale that
there is no perceptible Improvement in
prices.
The gradual completion of the
liquidation of bankrupt wool stocks,
which for more than six months have
been such a depressing factor, has
helped the situations; but what has
been of most Importance is the grow
ing belief that after twelve months of
almost uninterrupted decline, prices
seem to have at last reached bottom.
The firm closing of the London wool
auctions probably contributed much to
this belief; and while prices may re-
main stationery for some time, it seems
reasonable to expect the next move
rnent to be an advance.
AS yet the increased activity in wool
has not developed a corresponding i'm
provement in the demand for textiles:
and manufacturers are not only unable
to obtain better prices for their goods,
. but are still finding it difficult to get
orders for satisfactory quantities, even
at the present range of prices.
The gradual depletion of the much
exaggerated surplus stock of wool is
clearing the way for recovery in prices
of both wool and cloth. Owing to the
belief that prices for the new clip will
be so low as to offer tempting oppor-
tunities for investment, competition
promises to be keen, and this may be
the Initiative of substantial improve
ment.
Disappointment is probably in store
for many who expect to replace with
new wool stocks which they are now
selling, so as to sell at profit on the
present basis of values.
The decrease in the wool supply has
failed to attract attention, because the
reduction has been mostly in the in
visible supply, or what is known as
the mill surplus"
During 1900, manufacturers carried
heavier stocks than during the average
of several previous years; and it is
this abnormal ''mill supply" which
has been going into consumption, leav-
ing that in the hands of middle men
and producers (which is the smaller
part of the total stock) without buyers;
and had exaggerated notions of the
supply of wool on hand.
This feature of the situation has thus
operated to conceal the fact that, taL-
ing the country over, the aggregate sup
ply is undoubtedly smaller than at any
time during the past four years.
While there is no evidence as yet that
prices will be any better during the
next few months there seems to be
general opinion that they will not be
lower: and it is hoped that this will
prevent any concessions from quota
tons.
Although there seems to be consid-
cradle apprehension as to ahe effect of
the new clip upon present values, it
should not be forgotten that a very
much larger available supply exists
ut present was carried over without de-
pressing the prices of the new clip of
1897, 1893. 1890. 1oOo