Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-05-10
OMAHA BIC WOOL MARKET
Movement on Foot Contemplating New
Enterprise for Gate City.
LOCAL DEALER SAYS MONEY is READY
Jacob HOlH Asserts ~ Growers would
start with million Dollars Local
Capitalists Would Ada
Ten Millions.


Ten millions.
movement to make Omaha the prln-
cipal wool market Of the United states ana
centralize the wool production Of wyoming.
Idaho. Montana and Colorado. the great
wool producing states OF the northwest, by
the formation OF a large association Of
Omaha capitalists and wool growers, is the
result Of the chaotic condition attending
the marketing OF the present spring crop
OF wool.
I Prices on wool are very low and associa-
lions have been formed In various states
to strengthen the market by reducing the
output and storing large quantities Of the
present crop, but prominent producers are
disssa hs1ed with the present method OF
marketing the crop, which has been in
Vogue for years. and Omaha capitalists
are interested in a proposition to organize
large association with capital of si.OOo,O0O
for the erection OF large warehouses for
the storage OF the product and the mainte-
nance of the principal market in this city.
Il Omaha IL conceded to he the natural
gateway for the raw wool products of the
great northwest states, as most Of the
wool is shipped through Omaha TO eastern
| manufacturers and wool buyers, who are
It is alleged, attempting arbitrarily TO con-
troll prices without regard to the great de-
mand for the product.
Omaha's transportation facilities for the
maintenance of great wool market are
unequaled Here many great trunk lines
| leading to the wool producing territory con-
verge and the crop could be stored in
warehouses in this city maintained by
strong association Of producers and buyers.
story Comes From Chicago.
| Wool buyers assert the charge that a
conspiracy exists TO force down prices is
without foundation and that the same
charges made last year were proven 20 be
untrue II is said that the rcuble existing
between growers and buyers is due to the
J fact that methods of marketing the product
are antiquated and highly unsatisfactory.
There charges are said to have their origin
in Chicago.
The magnitude of the wool growing in
dustry now requires greater facility In
the disposal Of the crop than Is available
under the present methods. which have OBJ
/ tanned since its inception and more stable
and steady market could be obtained as
there is now no central and established
wool market in the United States
"A wool warehouse in Omaha Is the best
solution of the marketing question for the
Wyoming sheep men," said Jacob Hole, a
large and prominent wool buyer OF Omaha.
/ The charge that a conspiracy exists
among buyers 70 dopress values is without
| foundation. Last year at the same time
tho same accusation was made and the
result Of the years business for the wool
men was anything but profitable. In 1906
after expecting something over 8 cents
pound for WOOL growers finally settled
down to Is cents as their asking price. Not
finding any buyers at this figure after about
two months trading began at 221s cents and
the average price paid in Wyoming was
near that fgure, although later sales were
made under 20 cents. .,
| . Balance on Wrong side.
This wool was in excellent condition and
| quality and still after II sold the wool
buyers found the balance on the wrong
side OF the ledger
"The whole trouble with the present
system OF selling wool is the antlquated
method In use. The whole clip is put on
the market in May and June and. as soon
as II strikes terminal points. becomes a
drag on values. II the growers would send
their wool to a central point, there to be
stored and sold at public bidding, quantities
limited TO certain weights at each sale.
more steady and stable market could be
obtained. while now there is practically no
l,established market in the country.
''If wool growers would form a company,
say with S1.OO0oOO capital, TO carry this
idea into effect Omaha capitalists are
ready to furnish 100000 to finance the
moving of the wool clip at any time.
Money is more plentiful in the west than
lin the east and there are no obstacles In
the way Of carrying the plan to a success
full issue.
Wool growers should take a lesson from
the Australians In this respect with regard
to putting up and marketing their crop. and
now is the time to begin the formation Of
a buyers association such as have indl-
Gated"
Golden Chance for Omaha.
II is a golden opportunity for Omaha, as
the establishment of great wool market
in the city would mean commercial pre-
teminence in one OF the greatest industries
OF the west and bring untold wealth into
the commercial channels OF the city.
While many wool buyers maintain head
quarters in Chicago there is no established
market for raw wool in that city and the
growers are forced to treat with middle
men from the time their crop Is ciipped
until Il is sold. Small growers have adopted
the expedient OF selling their crop TO tran
silent Spectators, who run the risk OF
rise or fall I'm prices, but the price obtained
per pound from these spectators is such
as to give only the smallest margin OF
profit IN the producer.
The industry furnishes employment for
thousands OF growers, small spectators ana
! large buyers In Oregon and the northwest
Pacific coast states as well as the midwest
territory, and the product Of these thou
sands of wool producers could be diverted
TO Omaha by the establishment Of a central