The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1903-05-12
PRICES ARE
GOING DOWN
BREAK OCCURS IN BOSTON WOOL
MARKET.
MOUNTAINS hit BY DECLINE
Holdings from This state Being Large
Come Under Influence Of
New Range.

Last weeks sales OF wool on the
Boston market aggregated 6,4O5,000
pounds. In this was included $780,
600 pounds OF territory, at from IA
to 1917 cents ~ pound.
The market has been more active
the past week, but the increase in
business has been at the expense OF
values, says the American Wool and
Cotton Reporter.
A large line OF Idaho wool-about
100000 pounds-has been cleaned
out, as well az a few large lines Of
Montana, which holders had become
tired OF carrying and were willing to
let go at concessions from previous
asking prices. There have also been
liberal sales of low wools-principally
foreign stock, such al English and
Irish, New Zealand crossbreds, Can
ada combing and South Americans,
the average clean cost of this class
Of stuff being 34@36c.
Want Low Grades.
What the manufacturers want ap-
pears to be stock spinning low counts,
or grading on the low side of a quar-
ter-blood, the high grade woods being
comparatively neglected. Domestic
braid n common woods have been in
demand also, and more business would
have been done in these if there had
been a larger stock, but supplies of
these woods have been pretty well
cleaned up The Idaho wool referred
to was in the original bags, ungraded,
n was sold to a Rhode Island top
mill. The wool graded fine medium
and medium, and had been carried
since 1899. In that year 24c is un.
derstood to have been paid for it. 1t
was sold by the party to whom it had
been consigned fore lac, it is under.
stood. The total loss on this line
of wool, including carrying charges
for four years, commission, ETC., is
said to aggregate in the neighborhood
OF $1,000. Originally this was a
very nice clip, but there were some
moths in it when sold. The average
clean cost Of this lot of wool is under.
stood to have been in the. neighbor.
hood of 4Oc, and was regarded as a
| good purchase for the party who took
it.
.lrreguIarIy Distributed.
The business of the week has been
very irregularly distributed in the
trade, only those having the few par
ticular grades of stock wanted being
able to consummate any business.
With most houses the demand has
been positively dull. Some of the
woods reported as sold during the past
week were really disposed OF the pre-
vious week, the details not having
been revealed up to a week ago.
The large mills, including the Vans
kuck, Arlington, Atlantic, American
| Wooden company, the Lorraine and
certain Philadelphia consumers, have
been in the market, but not all OF
them have bought freely. The Ameri-
can Wooden company has bought, but
not to the extent thought by some.
Some of the medium-sized mills have
also been in and have purchased small
lines, including pulled and secured
woods.
Prices Favor the Buyer.
Prices favor the buyer and the tran
sactions of the past week have been
at the lowest figures touched this year.
Worsted manufacturers are not get
ting much business and cannot he
frightened into taking wool except at
favorable prices in spite of all the
talk that is INDUCED in regarding the
strength of the statistical situation of
wool. Consumption of wool has been
diminished considerably With the in
creased stoppage of machinery. conse
quent on the cessation of orders for
goods with which to sustain operations
at the mills. On several lines the last
of the orders taken were woven out
some time ago., and on a number OF
others the N of the orders l?kcn
has almost been reached. This means
of course a considerable restriction
OF output and a decreased demand
for wool except for cheaper grades
which cal be worked into fabrics to
be sold at prices which consumers
are able to pay. A number OF manu-
f%acturers are said to be making some
pretty good stuffs out OF the low for
eign woods which they have been re.
Gently buying. and are likely to con
tinue on these lines as long as they
can make them at a price which
makes them salable. This position OF
affairs is easily understood. The ne.
cessities of life have advanced so sub
stantially in price that the people
cannot and will not pay higher prices
for clothing than they did last year
Rather than do SO, they are willing
to take an inferior article or put of
purchasing. OF course this places
the manufacturer in an uncertain
and very unsatisfactory position, in
which he is very 10th to buy wool ex:
cept when he can see immediate use
for it in fabrics which can be sold
without a loss to himself. He will not
anticipate his wants largely iii ad