The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1902-11-11
TWENTY CENTS PAID FOR MON.
TANA FLEEcEs.
REVIEW OF BOSTON MARKET
Larger and Increased
Demand Causes Tendency Toward
Observation-Disclosures Active

A broad, active demand for wool
now exists in all of the large wool
markets in the east and buyers are
even inclined to speculate, which is
a new feature in the situation that
has been added since the last writ
ing, says the American Wool and Cot
ton Reporter. The market is active
and strong, the sales last week on
the Boston market amounting to g.
142, 900 pounds.
Liberal sales have been made to
eastern consumers, and good-siZed
purchases have been made in st.
Louis and Chicago for the account of
Boston dealers. Full prices have been
realized and in fact these woods are
quotable on a slightly higher range.
much strength having been impaired
to the situation by the opening of the
market at Buenos Ayres| at an average
advance Of 20 per cent over last year.
At the prices established for the new
South American woods, they cost, to
land, practically as much as the do
nestle woods, which are acknowledge
ed to be intrinsically worth cents per
pound more than the South American
stock.
Prices Good.
The prices paid were generally at
top quotations. This is especially
true with reference to feeces and sta
pie territories. The market is hard
ening steadily, and the strong feeling
has been intensified not only by the
reports from South America, but also
by reports from Melbourne, Australia,
where the markets opened last week
at Is and 20 per cent advance over
exactly Is per cent more, duty paid,
than it cost to import the same wool
a veal ago.. The season there has
been late and selections at these
sales were poor. Estimates as to
the losses of sheep in Australia are
increasing and some Of them reach as
high figures as 300, 900. The tenor of
the news from abroad, in short, has
been such as to increase the bullish-
ness existing on this side of the water.
Consumption Great.
Woods are going into consumption
at an unprecedented rate, and the
greatly increased use of substitutes
which, it was feared, would follow an
enhancement in the price of wool, has
failed to materialize as yet. How
much more of an advance the price
of wool can stand without driving
consumers into using substitutes
more freely, is problematical. With
reference to secured woods, it is felt
by some who are conservatively in
clined that if a materially higher
plane is reached it will prove a detri-
ment to the sale of wool. However,
an increased use of substitutes is not
yet in sight and it is felt by the trade
that territories may experience a fur
Their advance. The territorial woods
at present, in view of what they cost
the trade when purchased in the west,
it must be remembered, are being
sold today on a close margin. With
advancing markets abroad and with
the mills consuming more wool than
was ever before known, there will be
every inducement therefore by and
by for the trade to stand for higher
prices, and that merchants have ev-
cry confidence in the future is made
evident by their liberal purchases in
interior markets and the fact that
some dealers who had sold lots of
wool here have been replenishing
their stocks by buying to some extent
of other dealers in this market.
Beginning to Speculate.
There is, in short, a little more
disposition to speculate in wool, but
it is not believed that it will reach
stable proportions, as the trade have
not yet forgotten the disastrous ex-
periences which followed the abnor-
NAL speculative movement in 1899.
Thus far the purchasing of wool has
in the main been for actual consump-
ton, and prices have been governed
by natural conditions, and the situa-
ton throughout is a sound and healthy
one. If, however, an active specula,
tive movement should set in, the sit
uation would become more of an arti-
fetal one, which would be deprecated
by most of the members OF. the wool
trade, who consider that if conditions
are allowed to develop in their own
natural way, a continued healthy mar