The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1902-11-18
ADVANCING At BOSTON.
MONTANA BRINGS 81 CENTS
Speculative Tendency Increasing and
Manufacturers Buying in Advance
of Actual Needs.

600 pounds. Among them were g.
O15,O0O pounds territory, which rang
ed from Is to 20 cents a pound.
The market is somewhat excited
and advancing, says the American
Wool and Cotton Reporter.
Speculation has increased and some
manufacturers, evidently apprehen-
sive lest that they may be caught
short of stock, have been buying more
in advance of their actual necessities
than at any time this year.
The feature of the market the past
week has been the large transactions
in secured woods, especially those of
the No. 2 Colorado and New Mexican
order. Reports as to the amount of
wool sold vary, but a careful canvass
of the market reveals the fact that in
the neighborhood of 5000 bags have
been taken by consumers and about
$4,000 bags have been bought in this
market by dealers themselves. There
was a large amount of secured wool
moved out to manufacturers previous
to the election, and the houses which
sold it, have gone to their neighbors
in the local market and have replaced
it through purchases from them.
These purchasers have been princi-
pally two or three large houses, which
have drawn on the smaller concerns
to replenish their stocks, and the re-
suit is that a number of the smaller
concerns which previously had four
or five hundred bags on hand, have
now practically nothing. One house
is reported to have bought from 5000
to 1000 bags, and another between
5000 and 1000. One mill bought
about 5000 bags, it is reported.
The result of this purchasing has
been to, advance the price of secured
woods in this market on the average
about two cents per pound, and to
concentrate in fewer hands the sup
ply Of secured woods in this market.
These purchases included about 5000
bags of pulled wools-B supers and
woods on the low side of a B., which
were moved at prices ranging from
35@3Sc; Colorados and New Mex
leans at from 81 to 43c, with large
lines around 40 to 42c, and territories
ranging from 35c for defective stock
up to Acc for fine medium. These
woods have cost really less than the
grease woods could be bought on this
market II secured for, and that is
one reason why they have seemed
attractive.
The Speculative Tendency.
AS yet the speculative movement
has been confined largely to secured
woods, but there are not wanting evil
dences of an increased tendency to
speculate in medium. territories and
there is a little speculative inquiry
for fleeces. The great bulk of the
BUSINESS done except on secured woods,
however, has been for manufacturers
account. There is no denying the
trend of the situation, however, and
it would not be surprising if on any
day, there should be a scramble
among the dealers for all kinds of
stock, in view of the continued strong
tendency throughout the world, di-
minishing supplies and an enormous
consumption.
The conservative members of the
trade, mindful of the disastrous re-
suits which followed the elimination
of the last great speculative move
ment in the Boston wool market,
deprecate these signs of an increased
tendency to speculate. They believe
that the market should be left to take
its natural course and be governed
by the operation of the law of supply |
and demand.
The mills have all bought heavily in
the past few months and even assum-
ing that the demand for heavy
weights is to reach the magnitude
predicted by many, they argue that
the mills must be very well. stocked
rs a rule and supplied with a sui
ficient amount to carry them we'll into
the next heavyweight season. They
desire to see whether industrial con-
ditions are to be maintained on their
present favorable level before launch
ing into a speculative boom. The
weak and feverish condition of the
stock market does not indicate a very
sound financial situation, and until
the latter becomes clearer and more
settled, they are convinced that it
behooyes the wool trade to go slow
ly.