The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1904-08-02
WOOL FIRM
AT ADVANCE
MANUFACTURERS BUY HEAVILY
OF STAPLE.
FOREIGN WOOL IS SCARCE
Belief General Among Dealers That
Prices Will Soon Reach
Importing Point.

ket, with a good deal selling in the
aggregate even though the weeks
business includes no transactions OF
unusual size, says the Boston CONNER
cial Bulletin. There have been many
buyers around in search OF supplies.
The smaller mills have been well rep
resented, and the trade we'll distrib-
uted. Manufacturers are still anxious
for wool. They won't give dealers the
breathing spell they so much desire.
for the market is sold to a standstill,
and it will be many, many weeks be-
fore deliveries are caught up with.
One dealer says it will take three
months to complete deliveries on wool
already sold. Never before has the
market been in a better sold-up con
dition at this season of the year. Most
everything that is in shape is sold.
Large quantities now coming in go
direct to the mill.
The market is very firm at the full
recent advance, and perhaps a shade
firmer on some things. Ohio one-quar-
ter blood, for instance, has been sold
at 29c. There is no speculation in
the movement thus far. Prices have
gone up through legitimate influences.
largely because of the good, hard buy
ing by manufacturers. Secured woods
have been traded in between dealers
because one thought them worth more
than the other. The only forerunner
of the speculation that may come is
seer in the purchases in Chicago and
st. Louis, where Boston dealers have
bought more or less.
While there has been a good adj
vance On every grade and kind of do
nestle wool, there is nothing that
can be called radically high. 1t is
thought by some members of the trade
that medium 1eeces are high enough,
but for all that they have sold this
week at the best price of the season
Nothing can be imported, either in
fine or medium, as cheap as the sim.
liar grade in domestic can be bought
for. But the belief is general that
the market will ere long go to the
importing point. In 80 days the new
clip of Australia will be available.
but in the meantime, and for some
time after nothing of consequence can
be imported and with manufacturers
wholly dependent upon the domestic
clip for what they want higher prices
are not an unreasonable prospect.
The Mills.
Reports from the mills are encour-
aging. New lightweight goods are
selling well, not only those that are
quoted at unchanged prices but those
for which a substantial advance is
asked. 1t is limited that if the truth
were known about the general condi.
ton of the mems wear industry it
would surprise many to find how very
excellent it was. Three-quarters sold
is the report from some prominent
producers. New spring fabrics are be-
ing sold back by the agents of dress
goods mills owing to the uncertainty
regarding prices, the higher cost o1
raw material making an advance in
goods well-nigh imperative. The out
look for business is considered good
when once a start is made.
Foreign Markets.
The foreign wool situation is very
strong. London was last cabled firm
for crossbreds, especially strong-hair
ed, with a good inquiry, and merinos
quiet and steady. The tendency abroad
is still reported toward fine woods
however, with a lively scramble pre-
dicted for the new clip.
The next series of London auction
sales will open September 70 whel
the quantity available will very pos
sibly not exceed 10000 to 10000 bales
The supply on hand and in prospec
is extremely light for the remainde
of the year.
The latest mail report from Brad
ford says:
"The strong finish to the Londo,
wool sales resulted in a very fir
tone here even for merinos and tn
finest grades of c%rossbreds. All coars
qualities of imported woods, whicl
began to appreciate here before tn
London sales opened, are very sti1
indeed at the further advanced rates
while, as to homegrown sorts, hold
ers locally find it difficult to- do bus:
ness at a profit after paying the coun
try prices. At the same time the lat
ter have had to be paid when buyer