The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1901-04-25
THE YAKIMA HERALD.
THURSDAY. APRIL e5. 1901.
ABOUT WOOL.
An Eastern Wool Dealers Opinion On tn
Subject -Washlngton's Product.

Subject -Washingtons Product.
"The outlook for the wool growing in
dustry in the Pacific northwest seems
to be improving" said Henry Whitman,
head of large Boston wool buying
house, in Seattle recently. "While l
have been in the west the past three
months, daily advices from the eastern
demand centers have indicated enough
to show that the low pressure has
greatly eased the past three weeks and
that the great stock in the hands OF
raw wool dealers succeeding the clip are
going out rapidly. Concerning the
price Of raw wool, there is no prospect
of raise in price until June or July,
when the rate will be fixed for the en-
suing six months. The rate now
ruling was fixed in January. This
general movement of raw wool from the
warehouses of the dealers into the mills
is not the result of an upward tendency
in prices for there has been no changes
there, but seems to have been the natu-
raj outcome of the bottom of the mar
ket having been reached. When the
manufacturers saw that the price would
not break, and that, Notwithstanding
the large stocks in the hands OF the
growers, the dealers were determined to
hold level they concluded to stock up,
and have bought very heavily. l pre-
sumo the total sales the past two or
three weeks have exceeded the record Of
any recent buyings. This might suggest
a reasonable cause for an advance, and
it would were it not that the mills and
not the growers make the price. They
close contracts in January for fall
weight cloths, and in June or July for
spring weight, and must have rate
from the raw wool dealers at that time
for their seasons supplies that is not
in danger of fluctuation, or they would
not be able to fill their orders. 1t will
be seen that the closing OF the mills
would kill any possible advance dealers
and growers might venture to make.
just what will happen to prices in June
l cannot say. 1t does not seem to me
that there can be an important advance,
as there are no conditions present or
likely to be present that would now
warrant the hazard of Il statement OF
expected upward tendencies. The stu
alton of the ranches is known to the
dealers and to the cloth makers, and no
such contingency as a sudden rise or
fall in the visible supply is possible. |
know of nothing that is just now GER
tain as that wool will not materially
fiuctuate within the coming six months.
Hundreds of thousands of feeces of the
last clippings are still in the hands OF
the growers, a very great number OF
whom have been holding their outputs
for better market. The low pressure
has been on Il year and half and its
effects have begun to wear. When the
new clip comes many OF these men will
have to sell their holdings-one clip at
least and perhaps both. But that will
have no effect on prices. The idea OF
slump will naturally be uppermost but
no such condition can obtain. There
will be no change for the same reason
that there is not now change-that
reason is that the basis of the wool in
the hands of the dealers and growers
and the estimate of this raw wool mar
ket stands today on the seasons clip.
Washington growers have smaller
proportion Of their clips on hand than
have the producers of the adjoining
states. Oregon, California and Texas
are holding about two-thirds OF the
last clip and Idaho and Wyoming hold
nearly as much"