The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1902-12-09
WOOL MARKET
VERY STRONG
ALREADY NEGOTIATING FOR
NEXT YEARS CLIP.
BULLISH IN THEIR IDEAS
Holders Take Advantage of Depleted
ta Stocks to Set Prices at
High Notch.

The sales of wool on the Boston
market for the week ending December
4 totaled 5,O8O,O00 pounds, including
100000 pounds of territory ranging
from IA to 20 cents a pound.
The market is very strong. Trad
ing has been interfered with to some
extent the past week by the Thanks
giving holiday, but the volume Of
business foots up to very fair total
for these times, and there is good,
healthy demand in progress, although
the market cannot be called very ac-
tive, says the American Wool and Cot
ton Reporter. Some of the sales in
cluded in the foregoing total consist
ed of purchases made by a couple of
houses in this market, which have
been buying territories and quarter
blood fieeces, the position of the lat
ter having been rendered still stronger
by the very material advance record
ed at the London sales on crossbreds
which opened 10000 per cent higher.
Fine woods are very scarce every
where, and now that the attention of
consumers generally has been turned
to the lower and cheaper woods, the
latter have felt the force of the
increased buying movement and are
advancing, the world over. At the
same time, fine woods are still ad-
vancing, and their position is also
still further strengthened by estimates
of experienced wool men who are
handlers of wool in Australia, who
believe that not only will this years
clip be found to be 100000 to 100000
bales short, but that the clip of 1903
in that country will be much less, al
so, on account of the lack of feed
and the great mortality among the
lambs.
,Statistically, indeed, the market
seems to be stronger than ever, and
as the stock of domestic wool con-
tinues to be more and more depleted.
the position of the market here is re-
garded as very strong. and holders
are decidedly bullish in their ideas as
to the future values of WOOL
Negotiating for Next Years Clip.
So bullish, indeed, are some of the
eastern dealers that they are already
at this early day commencing to en-
ter the far western markets, and re-
cent advices from Helena, Mont,
state that many sheep men have re-
ceived letters asking what they will
take for their next years clip on the
sleeps back. These attempts to ne
gotiate for the 1903 clip of Montana
have not as yet resulted in the con-
summation of actual business as far
as has been learned at this writing,
but indications are that more or less
wool in that state and possibly in
other states will be contracted for on
date unless there is decided change
in the conditions which govern the
wool market.
Two Factors Prevent Boom.
1t is quite possible that there would
be more of a boom in the wool market
than is now witnessed if it were not
for the vivid remembrance which
many members of the trade still have
of the disastrous experiences which
followed the boom of 1899, and the
tight money market In 1899, how
ever, the advance in wool was largely
the result of speculative movement.
not based on actual industrial condi-
tions; but the rise in the price of
wool this year has been due to natu-
raj and far-reaching conditions
tremendous consumption never before
exceeded and depleted supplies the
world over, except in South America.
If the trade, therefore, do not close
their heads and overdo the thing,
it is felt that the present favorable
position of the market is likely to be
maintained for sometime to come.
Already there are some who are pre-,
dieting that wool in Montana will
reach zoe on next years clip, but the
conservative members of the trade
are disposed to doubt this.
Hight Prices Checking Business.
On the other hand, the high prices
in this market are unquestionably
checking business to some extent
Consumers are not buying woods as
freely as they were. Many of the