The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1904-11-08
The MARKET
IS BULL|SH
SMALL WOOL SUPPLY HAS NAT
URAL EFFECT.
CONTRACTSAT HIGH PRICES
Utah and Idaho Report Liberal Ad-
vance saIes-simiIar Reports Re-
ceived from Foreign Lands.

A very bullish feeling pervades tn,
whole market. The demand from ma
ufacturers is not as active as it was
says the Boston Commercial Bulletin
Many of them have all the wool they
want for the present, and others are
so we'll covered that they can be free
from worry on this score till mex
spring, when a new American clip may
put a different phase on the situation
But there is quite a large contin
gent hat had not the foresight to buy
when selections were large and prices
low. These must be heard from in a
practical way or their plants closed
To fill their necessities will doubtless
require all the wool that can be made
available. 1t is this prospect of ex.
cellent consumptive demand in the
face of small supplies that is sufficient
to keep the market strong without the
aid of speculation.
Speculation Has Begun.
But speculation is not likely to be
absent. 1t started some weeks ago
and has been expanding since till the
present week has shown more OF it
than any week for years.
The trading in secured woods mon
dealers has been on a tremendous
scale, even with due allowance for ex-
-saggeration in the estimates. In grease
woods there has been some trading OF
sthls character also, and there is no
denying the fact of the spread of the
speculative fever. But it is outside OF
Boston where it has developed it's
most acute stage.
Contracting at High Prices.
contracting in Utah and Idaho for
the 1905 clip has been conducted as
literally as the growers permit. Fully
100000 pounds have been contracted
IN Utah by three large houses, one
OF Boston and two of st. Louis. Start
ing at 16 cents the price jumped to
IL cents, and only the Indifference OF
growers to these lofty figures prevent
ed further contracts.
Rumors Of contracting for the 1905
clip of New Zealand to be shorn about
a year hence are confirmed. An Eng
lish broker in Boston during the week
has been trying to sell 5000 bales OF
next years clip at today's prices. In
England and Ireland also growers are
being induced to sell their clips far in
advance of shearing and on most at
tractive terms-to themselves.
Worlds Market Advancing.
The marke.s are advancing all over
the world. Quotations from Buenos
Ayres show that it will cost several
cents a pound more than last year to
import Argentine crossbreds. London
and A%urtralla are firm. Boston keeps
putting prices up a peg almost every
day. 1t is a ticklish situation, and
few are willing to go on record with
predictions of what may happen after
President Roosevelt is elected and the
heavyweight wooden goods season
opens.
The Mills:
Not wool alone, but the manufac-
tured goods from it are advancing.
New York notes several lines marked
up within a week. Fresh contracts
are only being closed by manufacture
ers when the buyer is willing to adj
his bid. Everything points to
a very successful heavyweight season,
which will be the next most important
development in the industry. The raw
material started the Improvement,
which is likely to have it's fruition in
an early opening at higher prices for
all mems wear fabrics. The dress
goods mills are placing their produc-
ton at the full advance recently es.
tabllshed. Even the carpet menufac-
turers are talking more cheerfully.
They cannot report any radical i'm
provement, but the Philadelphia in
grain people show more life, as is evil
denced by the business accomplished
in their style of wool.
Foreign Markets.
Their are some interesting develop
ments in foreign centres. The situa-
ton at Buenos Ayres is the most not
able as having a direct and immediate
effect upon the local market. The
contracting for next years clips OF
New Zealand and the United King
dom are referred to above. Cables
from Buenos Ayres report that market
very firm and extremely active, but
with very little wool in, large receipts
not having arrived as yet. The early
activity is unusual, as is the radical
advance since the opening due largely
to the efforts of a prominent Summer
street house in bulling the market. A
jump OF two cents in the price is the
result. The imported cost is fully
5 cents more tnan last year, and &C
cording to the latest cables it will be
z cents higher. Wool that sold at
16k cents a year ago is now quoted
at 23k cents.
Advices from Melbourne are to the
effect that American buyers are keen
and operating freely, though it is a
little early yet for large selections OF
woods suitable for this country. AS
to prices there is no information made
public further than that they are last
years level. London reports that at
q sale of low woods prices were we'll
maintained.
The latest mail report from Brad
ford says:
I'm raw material the one continues