The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1903-04-07

lines of territories have been great
Montanas, while California and Texas
woods are well cleaned up, and OF
pulled woods it Is doubtful If stocks
on hand were ever smaller at this
time of the year. This condition of
things, combined with the firm posi-
ton of affairs abroad, accounts for
the steadiness which prices have
shown in the past ten weeks in spite
of the very quiet trade ruling. II
stocks had been large or even of aver
age size, there is no question that rul-
ing prices would be lower than those
which are actually prevailing. It is to
the interest of the members of the
trade, in one way, that the present
guietness should continue, because of
it's effect upon opening prices in the
west.
Outlook for New Clip.
In a very rev weeks wools will be
selling freely, probably, in the terri
tories and both wool merchants and
manufacturers are apprehensive that
prices may start in on a higher level
than is actually warranted by prevail
ing business conditions, and the out
look for the clothing industry. There
has been no further contracting for
wool in the west and the present tenn
per of the wool trade is to go slowly
jim the purchasing of the new clip.
But there is no telling what may hap
pen when buyers become lined up in
the western wool centers and bid for
the new woOls. 1t is an easy mater
for them to lose their heads" and,
in their eagerness to secure the new
wools, bid for them more than they
are worth. A tight money market
may serve as some check to this tend
ency on the part of wool buyers, but
the banks in the west, where money
seems to be fully as easy as 1t is In
the east, are ready lenders on wool as
collateral. In brief, there is no indi-
cation that the new clip is to be pur-
chased on any lower basis than pre-
vailed last year, and the chances
seem to be at this writing that open
ing prices will be ON a higher rather
than a lower basis than that of year
ago. The advance in western freight
rates is likely to be factor which
will enter into the determination OF
wool prices. OF course this advance,
if carried into effect, will increase the
cost at which buyers who contracted
J for wool on the sleeps back suppos-
ed they were securing their wool, and
representatives OF Boston merchants
j who now go into the west to buy new
wools and who figure on a certain
secured cost which they are to pay
! for them, must make allowance for
this increase in freight rates, and
they are determined that it shall come
out of the grower by reducing the
grease price which they will bid for
the latter's wool.
Lower Prices Come Hard.
1 There has been only moderate
representation OF woolen mills in the
market the past week, but this in
cludes some of the large consumers
who are keeping in close touch with
the market and waiting to buy certain
woods, which they could today use to
advantage, at lower range OF values
Rut the ruling level of prices is very
slow in coming down to their ideas
In fact it is not easy by any means
for consumers to wiring any material
concessions from holders OF wool even
after the quietness which has prevail
ed for so long time. This is es
pecially true with reference to fine
wools. There is confidence regard
ing the future of wool in the market
which cannot be easily shaken by the
representations of manufacturers as
to the dullness of the goods market
Texas, California and Oregon.
Texas woods have figured but very
slightly in the business of the pas
week. Sales have been practically
confined to some small lots of six te
eight months wools, which were NOV
ed within the range of 16@17c, equiv
alent to secured cost of 50@53c.
California woods continue yer.
quiet. There is not much stock here
Some further small sales of bes
northern wool have been made a
about soc, clean, and middle county a
47@48c. In southern California rain.
weather is reported as having inter
fered with shearing. Some woods have