The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1904-05-10
BOSTON STILL
IN DOLDRUMS
WOOL MARKET THERE CONTlN-
UEs UTTERLY STAGNANT.
new CLIP MOVING LIVELY
Selling in Wyoming as Fast as Offered
at Prices Well Main.
tanned.

III
The wool market is dull and feature.
less. Since the heavy purchases OF
last week by the American Wooden
company there has been no important
business transacted, says the Boston
Commercial Bulletin. Buyers have
been few and those that have. put in
an appearance have mot bought much
wool. One house succeeded in SELL
ing 100000 pounds Of territory, which
was doing pretty we'll. Others have
done scarcely anything. There has
been a fair call for secured woods
and at market prices they are consid-
cred cheap in comparison with the
cost of new woods. Some 1000 bags
of B super have been picked up dur
ing the week and a fair business in
new fat sheep woods has been closed.
Not for a long time has the Boston
market been quite so. undressing as
at present. The situation here is in,
direct contrast to what it is in the
west. There has been a merry dance
in Utah and Wyoming. In fact, lively
times are reported in about every Sec
ton where the new clip has been
sheared or offered for sale. Our mar
ket also affords a contrast to foreign
markets. In the United Kingdom and
on the continent prices are firm and
hardening and the London auction
sales have developed active competi-
ton ever at the advance. I.
S%tagnation Is Real.
The depression that exists in Bos-
ton is unmistakable and real. The
statistical situation is strong with sup
plies comparatively small. But con-
sumers are mot buying any wool to
speak of, and to force off what isleft
here, low prices would have to be &C.
cepted. The goods situation is bad
and the Boston wool market reflects
it's condition more than any other
place in the world. 1t is not alone
because the new clip is being sheared
that local dealers Is a rule talk bear,
ish. There is real cause for the want
of confidence that exists.
The activity in the west and rela.
lively high prices being paid ara
therefore, a cause for surprise. Ev1
IDENTIFY some people have a strong
belief in higher prices and are bank
ing on such a result to follow republi-
can success in November.
The Mills. y9G
There is nothing cheerful in the re
ports from and opinions of manufac-
%turers. Those who have been on the
wool market this week had a depress.
ing tale to tell. Several from Phila-
delphia have talked very bearish
anent the condition of the goods mar
ket and the prospects for orders eth
er new or duplicate Letters from the
mills are very discouraging, and a
good deal of machinery has been shut
down this week, swelling the volume
Of idle looms. Curtailed production
all through the summer months is
the prospect. There may be a change
for the better, but it is not at presen.
in sight. Perhaps the best feature
of the situation is the fact that heavy
weight clothing and piece goods are
believed to be in small stock, and
that when buyers get ready to operate
there will be enough orders Tor goods
received by the mills to start up some
of the idle machinery and keep that
going which is AT present occupied.
Foreign Markets.
Interest in foreign markets is cen.
tered at London, where the third Sc
ries opened last Tuesday with a good
attendance OF buyers and good com,
petition. The net available quantity
for the series is 100000 bales. OF
this, contrary to previous estimates,
about one-half is said to be cross
breds of all kinds, from fine to low.
The cables received in this city on
the opening day read about alike.
Summarized they showed merinos and
fine crossbreds unchanged with prices
maintained on the basis of the closing
rates of the previous sale, medium
crossbreds from par to 5 per cent
higher and low crossbreds hd. higher.
1t was somewhat of a disappoint-
ment to expectations held prior to
the opening of the sale that fine me.
rinos did not advance. A 10 per cent
rise had been predicted. However,
on the first days the best woods are
not put up and this may account for
the steadiness of opening values.
In fact, two cables received here
Thursday morning said that merinos
were higher at the Wednesday ses-
sion. One of these quoted a 5 per cent
advance and the other a rise of 7h
per cent. In some quarters this was
doubted, as no such information had
been received. Next week the better
class OF merino woods will be put up
for sale and the price position will
fnnvn hn lnHpsto1