The Dickinson press., 1902-03-01
WOOL SITUATION
The Outlook for 1902 Prices.
are EnCOtlrau1nu

are Encouraging 8
The following review Of the wool stu.
alton, both past and future. from Wool
Markets and Sheep. is so conservative
and fair, and SO neal what. from all We
can gather, we believe the wool situation
to be, that we publish il believing it will
be of interest to every wool grower in
North Dakota. The Review says:
with the close Of the year 1901 the
wool market was in better condition than
during any period throughout the year.
No n identified with the wool industry
will forget that the years1ooo was one Of
the quietest and most disappointing
periods ever experienced in the wool
trade. Everybody lived on hope. al
ways anticipating a better feeling and
better market condition. The past year,
however, has also been a slow and disap-
pointing to all concerned upto with
in the last two months Of the year. At
the close of the year a better feeling pre-
vailed, prices advanced and a better de-
mand existed and larger sales were re.
corded than at any other period of the
year, and at the present; writing the out
look is decidedly more encouraging for
the future.
Several new conditions have arisen
during the past year and as a conse-
quence some revolutions have been in
operation. We particularly refer to the
instance OF where in former years manu-.
facturers made it their custom to lay in
liberal supplies of the raw material at
certain periods. during the year. This
has been almost entirely changed of late;
in fact, the consumers Of the raw material
have not vet pursued this policy except
in very few instances. We cannot
remember a year when so little specula-
ton was INDUCED in either by dealers,
manufacturers or growers. The bulk of
the wool clip Of 1901 left the growers
hands early in the season, and today the
amount Of wool in the country outside OF
the principal wool centers is very small
indeed.
"Private advices from our own special
correspondents throughout the United
States truly indicate the fact that not
for years has the country been SO thor
oughly cleaned up of old stocks of wool
as is the case today The growers evil
IDENTIFY profted by their experience Of
1900 when many of them lost money by
not disposing OF their woods earlier in the
season. So far as wool dealers are con-
cerned we know Of no instance where
large profits have been made. The
market has not been in such condition
as to afford any opportunity Of large
profits; in fact, it has been a notorious
year for small profits. There have been
very few; failures in the business through.
out the year, and as a rule a most con.
servative policy has prevailed through.
out the trade. The prospects for the
future are brighter than they have been
for some time past; in fact conditions
are such as would warrant a most conf.
dent feeling.
"The demand for wool goods has been
decidedly better than last year, and
there has been a noticeable decrease in
the demand for goods made up of cotton
and shoddy. The mills throughout the
country during the past few months have
been exceedingly busy. The styles for
mems and women's wear have been for
long garments which, as every one knows,
requires more goods. This. together
with the fact that the country is in a
highly prosperous condition and peo-
pie are buying clothing more freely than
for a number of years, possibly has had
a tendency to keep the looms busy night
and day. We cannot recall the time
when the wooden mills of the United
States, were, without any exception, SO
we'll employed. 1t has been a hard mat
ter for Wholesale clothiers t get the
goods from the mills; they have been
taking them faster than the mills could
turn them out. There is every reason to
anticipate a continuation of these condi-
tons in the future.
"The total supply of wool on hand in
this country today, according to very con-
sentative estimates is placed al 10000.
900 pounds exclusive of wool in bond,
and manufacturers holdings) as against
%3oo,ooo.ooo pounds a year ago. The de.
creased importations Of foreign wool and
the increased demand for wool for actual
consumption is the cause for this short
age of wool on hand as compared with a
year ago. When we take into considera-
ton the fact that the supply of wool,
both in the large markets and through
out the country, is much less than a year
ago and the demand is greater than il
was year ago, there are good grounds
for the belief that the country will be
more thoroughly cleaned up before next
clip time than for a number of years
past"
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