Fergus County Democrat., 1906-05-15
Say They Will Not Purchase Wool at
All Unless Growers Come
Down on Their Demands.
IS CONSIDESED MEREEy A BLUFF
Recent Developments Indicate That
Wo0Igrowers Will Be Able to
Get Their Prices.

In its review of the wool market for
Bulletin says:
1t is conceded by all merchants that
the market is devoid Of activity, and,
as matter of fact, the business be-
ing transacted is of smaller volume
than in many months. Sales are in
significant, both in number and size,
but, at the same time prices are being
steadily maintained. Two facts are
responsible for this quietness, namely:
The substantial supply owned by
manufacturers, and the extremely
limited stock of w6ol available for
purchase. Not even foreign wools
which have been enjoying the great
est calls for weeks past, are in appre-
ciable demand today Indeed, there is
but little interest evidenced in the
Boston market, as the territories and
the coming London auctions are alb
sorblng the attention of merchants
and manufacturers alike. Further
more the course of money rates is a
source of much concern to those wish
ing to buy wool. Money undoubtedly
will be harder, and operators in the
west will naturally be more conserv-
ative in regard to purchases of wool
at extreme prices.
Realizing the situation thoroughly,
the Boston wool merchants have
reached degree of unanimity in re-
gard n ~ vi ba III
asked by western growers that indi-
Gates a decided determination on their
part. Today's prices on this market
are. according to different authorities,
altogether too high, and yet sheepmen
expect to obtain still higher ones for
the 1906 clip. The former statement
seems to be borne out by the heavy
cancellations of goods which are main
ly attributed to the high basis of valu-
es demanded for the fabrics on ac-
count of the advanced prices of raw
material. One dealer says: 1T is time
for us to stop being influenced by Lon>
don, as we have reached our limit
here" We have had high values on
many commodities as we'll as wool for
a long time, and the pendulum is
bound to swing back, or in other
WOTuS, prices Will sooner or later seek
a level below the top of the market.
When the change begins the situation
becomes Of serious import to the busi-
ness men. Do the existing conditions
of depression in the financial world
indicate that a reaction is setting in?
Whether they do or not, the wool
merchant, we'll versed in the miracles
of finance, will go very slow and con-
servatively in his operations
Following out this policy, buying in
the west is practically at a stand
still that is, except in isolated cases
where the grower is willing to accept
a reasonable figure. A leading Bos-
ton man, in an interview with the
writer, recently said: 1--WE will not
pay the ridiculous price asked, and we
will wait until they are lowered before
taking any woel.' What if they are
not lowered?' I'VE will let them keep
their wool. We are not fools, and con-
sequently do not intend to take hold
of thing that we know will be
sure loss to us. The prices that we
are willing to pay the grower are ones
allowing substantial profits to him,
but we have our limit The clips
bought late last season showed no
profits to dealers. and how can we
pay high prices this year?' The above
statement represents the views of the