Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1903-06-10
OLD WOOL IS
VERY SCARCE
Scarcity in Eastern Warehouses Will
Prevent All Chance Of Any Low
er Prices for New Crop.
DECREASE IN DOMESTIC cLlf
There Will be a Shortage Of From rs
to 20 Million Pounds-New
Wool Coming In Slowly.

The wool sales for the week at Bos-
ton. accoring to the American Wool
and Cotton Reporter. were 3. $4,000
pounds, while a few houses report n
slightly better inquiry for wool, with
more manufacturers looking around,
the rank and file of the trade report
a quiet market. Some OF the large
houses have done indeed practically
nothing, and the volume of business
actually consummated during the past
week is smaller than that OF the pre-
vious week. A number OF sales have
been made subject to approval, hut
they have been very generally of small
lots. Some good-sized sales CT Tex
as, which practically clean up the
stock of old wool in this market. fg-
ure among the transactions of the
past week, as well as some good lines
of pulled wools, and low foreign
wools. but aside from these. the
transactions OF the past week are
hardly worthy OF more than a passing
lctice.
But, while the trade locally ~ Cliet,
a feature VI the situation Is the stcadi-
hess with with yrices are held. Tt!s
Is due 70 the SJt stocks Of old wool
on hand and the strong statistical 70
sition OF The raw material. There
Is only one ,Iass of stocks of which
there can be said to be any sizablc
supply here. That is Moniara wo"i,
OF which there Is reported TO he about
onethird Jf the clip Of 1902 now In
the Boston mc'fet, and OF this anlcuLt
two well known Summer street houses
are said to be carrying some three
or four million pounds each. Of
fleece wools, pulled woods and foreign
woods stocks are very light. One
party claims that there is the small.
est quantity Of foreign wool in bond
in this country that was ever known.
With such small stocks carried over
and with the diminished supplies OF
foreign wools abroad and Indications
of another decrease In the Australian
clip, holders OF wool see no iustiiica
tion for lowering prices. On the 9th
er hand, II there should be 4 good
healthy demand for goods. they are
anticipating higher. rather than low
er. prices.
The domestic clip will in all prob,
ability show decrease this year. and
this decrease Is variously estimated
at from 25 to 40 million pounds. Sta.
tistically. therefore. the strength Of the
situation Is apparent; but a determin'
ing factor, of course. will be the char.
acter and extent of the demand for
goods. and in this connection the op
ening OF the lightweight season is
being awaited with an increasing in
terest. The size of the duplicate bus
mess on heavy-weights has generally
not come up to expectations. Some
mills. more especially those making
woolens and dress goods. are well
sold up. but the mems wear worsted
mills are complaining of business. and
there is much complaint over the un
responsive attitude of the clothing
trade.
The extent OF the strike In Phlla
delphia serves as depressing fac
tor. or course, some OF the mills out
side OF Philadelphia may succeed In Sc
curing some OF the business which
would otherwise have come to Phil
adelphia concerns. and IT is possible
that the curtailment OF production
may stimulate the placing OF orders
by the clothing trade. although the
latter as yet show no inclination tC
be hurried into purchasing goods be
yond their actual requirements. Con
servatism marks the operations o
both the clothier and the mill man
The latter would like to see orders
coming In before purchasing any larg,
lines of wool, and the former woult
like to see evidence OF an improve
ment in the general situation and {
more active inquiry from retail cir
cles before ordering larger amounts
of goods. AS far as the mills are con
cerned, however, while they are pur
chasing raw material only moderate
ly. they are keeping close watcl
on the wool market and those WHIT
have been looking for soft spots. hav'
about finished doing so, and the sale
OF the week have been very generally
at full quotations. The manufacturer
are not apparently disturbed at al
over the high prices which are belnl
paid In the country, and will not bu,
wool except where they can see an &C
tual necessity for II.
While conservatism marks th'
course OF operations In the seaboart
markets, free purchasing OF sucl
woods as are offered In some OF thu
territories continues. although advi
ces received by some houses woult
indicate that there Is little less Gag
erness to buy than was apparent |
couple OF weeks ago; but there ar
no accumulations OF the new wool
in any OF the territories. More OF les
bad weather has interferred with th'
shearing In some sections. but mos
of the wools which are offered at any
thing like reasonable prices. are TAX
en- about as fast as they are offered
and some pretty fancy prices hav,
been paid In the interior unless
shall be demonstrated that the ney
wools are OF lighter shrinkage thai
has been estimated. Very many o
the new territorial woods cost 50@52c
clean, landed. In Idaho and Utah tn
wools are being purchased at 1871
l4Ikc, and even better. and in Wy
oming the clip has been taken thu
far at prices ranging from 1874 @l55r
Il is stated that the Idaho wooli
while not as well grown as last yea
are 2 and per cent. lighter In shrinl
age. In Oregon. there has been bu
little done thus far. although som