The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1902-09-16
WOOL MARKET
VERY STRONG. !
u
TRADE QUIET BUT TONE CON.
TINUEs FIRM.
IN NO HURRY 10 SELL
Holders Not Pressed for Ready Mon.
ey and Can Hold OF b
indefinitely.

indefinitely.
I The sales of wool for the week on
the Boston market were 1920. 900
pounds, says the, American Wool and
Cotton Reporter,
Trade continues quiet A little
concession, the past week, would have
caused some woods to slide easily,
but holders are not making conces.
sions. The tone of the market con-
tinues very Arm. One element of
strength in the situation is the fact
that the members of the wool trade
are not borrowers Of money to the
extent that they were at this time last
year, as they have already sold a
saficient amount Of wool to ease them
materially, and their bills receivable
must present a favorable showing for
this period of the year. 81
Financial considerations, therefore,
even should the money market stiffen
still further, are not likely to be fac.
tors Of any great moment in the wool
market. Underlying conditions are
sound, as the position Of wool is sta
tistically strong, both at home and
abroad, in the absence of any old
stocks of wool, and there is an un,
precedented consumption of wool in
progress.
The members OF the trade there
fore, are quite content to bide their
time, being firmly convinced that
with the present active goods market
and with indications of continuance
of the present large consumption Of
the raw material, there will be fully
sufficient demand to absorb the avail
able supplies Of wool now on, the mar
ket. Present stocks in this market
are ample, of course. representing
every kind and variety of domestic
wool, but it must be borne in mind
that sources Of supply in the west
have been practically exhausted, ex-
eept IN a few of the fleece wool sec
tions, and that competition, except
possibly on the lower grades Of wool,
need not be apprehended from abroad. !.
& Consumers are independent and in
different, however, as q number OF
them are pretty we'll supplied with
the raw material. They are willing
to take on lines of wool here and
there where the price can be made to
suit them, or where an inducement is
held out to them. Those who are
we'll stocked will make offers, which
are generally on the. low edge OF the
market. and in some instances one
cent per pound below the market for
grease woods, but where manufactur-
er wants stock and he finds exactly
what he is In need 81. he generally
pays full prices for it. OF course a
number ! of the manufacturers have
covered their wants on their initial
lightweight orders and are mot par.
ticularly disposed to look for, addi-
,tional new stock until the goods sea-
son has further progressed, and it
is quite possible that the present
quiet spell may last a while longer
unless indeed, some holders force the
market by offerings inducements to
consumers; but there has hardly ev-s
er been a season when there we're
fewer valid reasons for such action
than the present, and the best judges
of the trade are not looking for any
pronounced effort to force business
on the part of holders of wool.
The strongest wools in the market
are OF the fine clothing and staple
wools, including fine Texas and Cali
fornia and delaine fieeces. The lower
grades naturally are not as strong, rs
they are nearer the importing point,
and it is on these woods that what
ever weakness has appeared in the
London market has been the most pro-
nounced and it would be on these
woods naturally that holders would
first make concessions rather than
on the fine wools. But on no grade
Of wool in this market has sufficient
weakness yet developed to warrant
any marked changes in quotations.
The situation as whole is one sof
firmness, and this is attested by the
statements OF one or two houses, who
are willing to buy wools of certain
grades, wherever they can find any
soft spots. but their attempts to find
such spots have certainly not met
with success. Such houses are really
hoping that the present quiet spell
will continue, as it may give them an
l.