The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1903-08-18
OF not carrying heavy stocks too long
Prices Are Maintained.

Speaking generally, however, prices
are fully maintained The trade are
not disposed, to any considerable ex-
tent, to consider the question OF con-
cessions. There is no more wool In
existence than the nearby needs OF
the world require; and II the commod-
ity we're governed entirely by this
fact, the price would certainly be in
an upward direction. The only ques-
ton is, how soon and to what extent
is the statistical position of wool likely
to be affected by other considera-
lions, such as a general curtailment
of mercantile credits, a reduced pur-
chasing power on the part OF the
masses, and the like. 1t is needless
to say that both the wool merchant
and the manufacturer are scanning
the situation in Wall street with great
care, and the feeling is frequently en-
countered in wool circles that the dis
turbance in the financial world must
necessarily be productive OF a certain
amount Of recession in industrial pros
perity. The fact that great railroads.,
whose managers are unquestionably In
touch with the innermost facts OF the
money market, have been borrowing
a great many millions, in some cases
! on a year and Is months time, at 3
per cent, is of course highly signlh-
can't as regards the probabilities OF
the money market for months to come.
General business is in excellent shape
! all over the country, and barring sin
lister influences from Wall street, it
! may reasonably be believed that it will
continue so. When the New York
banks have demonstrated their ability
to take care of the crop demand for
money this fall, the outlook for every
! class of business will be very much
clearer than at present.
Meanwhile, wool is firmly held,
though apparently with an intent on
the part of some holders to diminish
their supplies with as much expedf-
ton as is compatible with a mainte-
nance of the present level of quota
lions.
Medium Woods in Demand.
The demand continues to run strong
ly to medium and low woods, although
some observers of the market think
that they detect a better inquiry for
fine medium, as a result OF the rela'
: lively strong tendency of medium re.
Gently. Territories have absorbed the
larger share of the attention OF the
past week. The trade understand, ap
%parently, that it is not possible to give
; the final consumer as good a fabric
t as last yea at the same price, ane
t the relatively large transactions II
t medium and low woods excite no sur
5 prise.
At Initial Markets.
: The activity in the initial market!
has practically ended.
e Mail advices from Montana stat
e that up to the latter part OF last weel
about 100000 pounds had been soil
S in Billings, and that that market wa
r expected at the close to register tran
S sactions amounting to between 10000
900 and 10000, 900 pounds. At Grea
s. Falls about $4,000 pounds had $
y far been marketed. Miles City report
ed sales to date of 100000 pounds
$. and it was expected that another 1000
~ 600 pounds would be disposed OF. A
~ Dillon, the sales aggregated 1900, 90
~ pounds, and at Big Timber 1,25O,OO
W had been sold. There were no ne'
" records as regards prices. The lates
10 sales reported from Great Falls range
70 from 12k to 17% cents, averagin
x 1917 to 16 cents. The range at Bill
e ings was 12% to II cents.
d Texas, California and Oregon.
in These woods have been quiet. Their
le is not much IL months Texas her
and the demand has not been of
noteworthy character. Quotations al
he unchanged. Conditions have M
y. changed sufficiently to create any m
in terial improvement in California wool
x and Oregon woods do n o appear
q; have figured in any appreciate mea
ure in the recent trading.
e. Territories.
AS compared with other grades te
IT, ritories have been in good reques
an but no striking transactions are r
he ported in them. There has been son
LII unconscious shading of clean price
that is, the sellers did not make d.
he allowance for a lighter shrinkage tn
wear. While the clean market pri'