The daily silver state. [volume] (Winnemucca, Nev.) 1903-1907, 1904-01-12
TONE Of THE WOOL
MARKET
Year Opens With Prices Firm
and Steady-OutI0ok for
the Year Favorable

The latest circula from Justice,
Bateman s. Co, VOL commission mer-
chants of Philadelphia, giyes the fol-
lowing information:
The year 1904 opens with prices for
most grades steady and finn at the
quotations of the past several months
A disposition to look forward with
uneasiness to the possible disturb
ance of a presidential election is APP
parently not to be a factor in the COM
ing year. There are no political issues
before the country at this time that
involve financial or economic disturb
ance, as was the case in the year 1895.
The currency is on a sound basis, anu
the actual assets have not been i'm
paired by the wiping out of inflated
values. The resi- wcalth taken out of
theN earth during tie past year ex-
ceeds all prev.ogs records. Railroad
earnings, always a barometer of bust
ness cond tons, were 10 per cent above
the year 1902, and the export trade was
Z per cent create. with every pros
pect of continuance, SO hat the out
look for tf.s ysar would indicate "a
more prosperous one than the one
JUS closed.
The strong tone Of the wool marke-
is more the result Of small supply,
coupled with the foregoing optimistic
views. than from any increase in ae-
tual wool consumption. In point OF
fact, owing to the hating Of business
by organized labor which has pa.
lyzed so many branches of tire ma
TONS industrial life. wool consump
ton has fallen to the lowest for any
year since 1898.
But for this decreased wool con
sumption, domestic wool prices IN
doubtedly would have been forced VI
tc the importing point long beforN
this, instead of being below such &
parity, as at present. Whatever dis
appointments have been sustained BY
wool owners and operators in not get
ting the full benefit of the piice-littins
influence of the present tariff il
chargeaple to labor organizations.
which have not only crippled he op
Grafton of the mills, but have lessen4G
the purchasing power Of laoor
ed in other industries to a much large.
extent, and have thus indirectly In
jured the producers of wool.
But Notwithstanding this decrease
in consumption, it has been slowl.,
but steadily gaining upon supply. Tn
quantity of unconsumed wool caeriec
over at the end of 1903. including as d
whole that in wool growers and deal
ers' hands, as well as that in tn
warehouses of the mills, is the small
at for a decade. 1t appears thai
without larger importations of for
eign wool. which is at present deafer
tha domestic, there is not enough
of some grades to run all the machin-
cry until an ample supply of the new
clip can be obtained. The duty paid
cost of foreign wool, therefore, prom
Uses to be the greatest price-controll-
ing factor for domestic VOC VIVA,
foreign prices are to be will depend
very much upon whether the p.esen
menacing attitude Of European ard
Asiatic nations will result in war. THAI
possibility %confuses calculations as u
the value for the coming year of tn,
wool clip of the southern hemisphe. {
which is just now moving freely 10
ward the central markets of the world
Although price fluctuations durins
the past year have been great, values
abroad at present vary but slightly
from those of January LIST, 1903. The
cost of domestic fine secured Terri
tory is about 6 cents per pound below
this time last year, while the sam,
grade of wool in the markets of tn
world cos Botany Tops) is only 2.
cents per pound lower. Crossb es
woods on the other hand, which hay,
f~luctuated more widely during thu
year. in comparison with January Is,
1908, now show very little change, do
nestle being about ! cent per pound
and foreign / 1-3 cents higher nov
han then.
This is a very small difference II
consideration of the fact hat Their,
has been a vast change in the rela
i've positions Of supply of thes
grades during this period. While 10y
medium woods are comparatlvel,
scarce the world over today owing 7
enormous consumption, n year ag
) were in great abundance, SO tina
crossbred woods at the slight ad yanc'
of today are relatively cheaper thal
they were then.