The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1902-10-07
GOOD WEEKS BUSINESS REPORT
Ed BY eosToN.
STOCKS ARE FAST REDUCING
Territories Highly Active and Large
Blocks Moved-Prices Continue
to Rule Firm.

U@L N# E8MsH99
pounds.
A tremendous business in wool has
been transacted the past week, says
the American Wool and Cotton Re-
porter.
1t has been done quietly, the Amer
lean Wooden company being the prin-
cipal operator in the market. That
concern has taken on large lines Of
combing and fine clothing Oregon,
staple and fine and fine medium ter
%ritories, some good-sized lines of pull
ed woods, also fleeces and secured
woods. The Oregon woods, /. is I'M
derstood, we're purchased OF three of
the largest houses, and large blocks of
territories were also taken of these
and other houses, including Montanas,
Idahos. Wyomings, some fine Nevadas
and some Utahs. No. 3 Colorados
and New Mexican secured have also
shared to some extent in the business
Of the week. Foreign woods have
ruled quiet, due largely to the fact
that supplies r very limited.
The prices paid for the great bulk
Of the wool taken were at full quota
tions and purchasers, who had hoped
that by holding of they would be
able to cur stock on any better
terms than they could have done two
or three months ago, have been dis
appointed. Indications point to a con
tinued active goods market and a
continued consumption of wool which
will keep many of the mills running
to their full capacity for months to
come, and the purchases which have
been made recently, large though
they are, it is believed, will all be
needed.
The business referred to was large
ly consummated on Tuesday, Wednes-
day and Thursday of last week, and
was foreshadowed. to some extent in
our last market report. We remark
ed then that some large deals were
pending, in addition to the large sales
at that time reported, and these deals
have been consummated since our
last report was written.
A Strong Tone.
The tone of the market is strong.
The sales contaminated, it is true,
do not leave a very large margin CT
profit for the seller, on account of the
high prices paid by the latter to the
grower during the summer when the
clip was being SO freely taken, the
Oregon woods, for instance, costing
the wool merchant very close to what
he has been able to realize on them.
But the removal of so much wool from
the market of course tends to
strengthen the position with refer
ence to such wonls as remain, and a
hardening market is looked for. The
feeling generally is one Of confidence,
and in view of the small available
supplies on hand for this time of the
year, it is felt that by the month
of February there may be a hustling
for wool which may be reflected in
higher prices than these which now
prevail. Present prices do not admit
Of a ZEN decline on many lines with
out entailing a loss, and there is there
fore no pressure to sell. 1t will be
seven months before the next clip will
begin to be available and before that
time, in view of the strong position
of wool abroad, which renders 1T I'M
possible to bring in foreign woods at
a price which will enable them to
compete with domestic stock, 1t is
felt that supplies CT domestic woods
will be pretty well depleted. Espec-
tally will this be the case if there
should be a good, active, heavy
weight season.
Outside of the purchases of the
combine the demand. while not es-
pecially active, has been fair, al
though very few stable lines have
been sold. Some deals are still pend
ing, however, which may be reflected
in further large sales next week. Thus
a bid has. been made. it is understood,
for about two million pounds OF
~feeces. Whether this will materialize
into actual business remains to be
seen. A considerable amount OF de-
laine wool may very likely in the not
distant future be disposed of at salts
factory prices. Some secured woods
are also under consideration at this
writing. Some of the smaller mills
have been in the market and have
purchased moderately of such special
ties as they need. There has been
a good inquiry for odds and ends.
nnils and low stuff. In fact the in
auiry for wool has extended to about
everything. and most OF the large
49, A--i----