The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1902-12-16

is shown in the specific case OF WOOL,
and this, too, Notwithstanding the fact
that there has been a great curtail-
ment in the yield of wool in recent
years.
Coarse Woods.
Looked at in every way, the statis-
teal position of wool is remarkably
strong. The supply Of fine wool is
deficient, and, other things being equal
the outlook is for exceptionally firm
quotations for it. The strength of
low woods is one of the most note
worthy features of the worlds wool
market today. These woods have
opened up at heavy advances in all
the initial markets, and their great
strength at the last London sales is
fresh in every ones mind. 1t vas
not very long ago that in all parts of
the world constant illusions were
made to the great changing over of
Merino f1ocks to mutton purposes,
and to the consequent heavy increase
in the yield of crossbred woods; de-
spite which fact, however, we have
recently seen such a consumption of
these woods as to advance the price to
a very marked degree. It is perhaps
too early to say just what this phe-
indicates, though Of course
the natural assumption is that the in
creased cost of living has of necessity
forced final consumers to clothe
themselves with fabrics of coarser ma
terial. Even if this is not the real ex-
PLANTATION today, it very likely will be
a short time hence, as the industrial
situation in Europe is today confront
ed with a discouraging outlook.
The Uncertain Features.
The statistical strength Of wool is
not the only factor in the problem
Of wool quotations. The purchasing
power of the community is also a pow
erful element in the situation. The
masses have stood the advance in
wool very well SO far, but we hear
more frequent predictions now than
formerly of a larger use of substi-
tutes; one large buyer of wool is in
particular, quoted as expressing the
opinion that more shoddy is going to
be used than ever before 1--WE presume
he uses "shoddy' as a generic term
for wool substitutes). On the whole,
the outlook for the mills is very good
for months to come. An impetus has
been acquired which, under almost
any circumstances, seems likely to
keep manufacturers very busy for an
other six months. After that the out
look is less clear. The prices paid for
the next wool clip in this country are
an important consideration in any at
tempt to predict the more or less re-
mote condition of the market. Just
at present it looks as if the grower
was contemplating asking prices for
his next clip that would necessitate
a striking advance in the seaboard
markets next year. What the result
Of such a state of affairs would be,
must be left to conjecture. Mean
while, conditions in the seaboard
markets are considered eminently
satisfactory by the trade.
Situation Abroad.
At the London sales, which closed
last week, only 1900 bales were TAX
en- for America. The market there
closed very strong at top prices, and
generally at some advance over open
ing rates. Five thousand bales were
withdrawn. For the January sales,
the offerings will be comparatively
small. The market in Melbourne is
strong. Selections of greasy cross
breds in London are small, and Eng
fish woods are in scant supply.
Texas, California and Oregon.
There is inquiry for Texas woods
and the greater portion of the new
fall woods have been sold. There is
not much Texas wool here now and
prices are strong. Twelve months
wool sold as high as $4,000, clean.
and eight months at 53@55c.
For California there has been but
little inquiry, but prices are firmly
sustained. Choice northern stock has
sold in a small way at 20@21c and
middle county at about Ice. Defec-
tive woods continue to be taken in
moderate amounts at a clean cost of
3O@33c.
Business has continued light in
Oregon woods. These woods being in
light supply, prices are firmly main
tanned.
Territories.
Territory woods continue in steady
demand. Fine woods are especially