Fergus County Democrat. [volume] (Lewistown, Mont.) 1904-1919, 1906-07-24
After Hanging Back for Several Weeks the Growers Are Putting Their
Wool Up For Sale and Offers Are Being Made By thu BUYERS Who
Are Present.
THE PRICES ARE -FOUR CENTS LOWER THAN LAST YEAR
Buyers Contend That Conditions Do Not Warrant Higher
Lost On the Montana Clips Purchased Last yeaany
Reluctant About Selling

After sparring around for over a
together last week and several sales
have ben made on the local market,
about three hundred thousand pounds
having been disposed Of up to noon
today. The prices are running from
three to four cents per pound lower
than last year and the growers are
selling very reluctantly, but many Of
them have evidently come to the con-
clusion that it is better to sell now at
the prices offered than to take the
chances Of having to take vet lower
prices after holding their wool for
several weeks or months. II is a pret-
ty bitter pill for many of them to take
and they do not try to disguise their
feelings in the matter.
The buyers, on the other hand, in
sist that they lost money on the wool
which they bought in Montana last
year and paid from 23c to 25c for and
say they are not going to repeat the
disastrous experiment of buying wool
or a purely speculative basis.
They say, too, that there is now
much more wool, yet unsold, in the
country than at this season last year.
In fact, twelve months ago. there was
hardly a pound of unsold wool in the
| trxy iS said tO
| be not less than 5O,OOO,000 pounds which
| has not been taken in by commission
houses.
The Fergus county wool is as good
as can be found anywhere In the west
and the prices here are a shade higher
than at any other point in Montana.
Thomas Cruise, who last year sold his
wool here, this year took it to Billings,
believing that he would secure more
bids on it down there but he sold last
week for 19c, not a cent more, if as
much, as could have been got on the
Lewistown market.
It is likely that about all the wool
on the local market will be cleaned up
this week.
Following are the sales which have
been made during the past week:
E. L. Ashley, $4,000 pounds to Dew
ey, Gould & Co., for 20 Ia cents.
j. w. Rowley, 10000 pounds to Dew
ey. Gould & Co.. for 20 3-4 cents.
Louis Mauland. $4,000 pounds to Jere-
miah Williams & Co., for % 3-S cents.
w. c. Jenizen, $4,000 pounds, offered
20 5-S cents by Hecht. Leibamn & Co.
Bid under consideration but it is
thought he will accept.
F. R. Warren, $1,000 pounds to Jere-
miah Williams & Co., at 10 3-4 cents.
]. w. Wood, 11,O00 pounds, highest
offer, 20 cents, by Dewey, Gould & Co.
Considering bid
J. w. Winnett, $4,000 pounds, offered
~ 34 by Patterson for jeremiah Will
liams & Co. Not yet decided.
Unless there should very speedily
be sharp advance in the prices of
wool in the Montana market the Trib-
une is informed by sheepmen, much of
the wool Of the state will not be sold
within the next week.
Convinced that the buyers have ef-
fected "gentlemen's agreement" as
they did in Idaho, where it remained
effective until after a special meeting
Of the woolgrowers' state association,
and that the buyers will not pay for
the woods of Montana the prices justi-
fed by the quality Of the clips and the
strong positions of the Boston and 9TH
er markets, many growers of the state
are prepared to hold their wool.
Growers at Fort Benton have already
made arrangements to store 100000
pounds in great warehouse there,
and have been assured by bankers
that loans will be made on the wool
in such warehouse at low rates of in
terest and at valuations equal to the
prices that have thus far been paid on
Montana markets.
Miles City banks have agreed to
make liberal advances on all the wool
! stored there, at interest rates as low as