Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-07-29
TAKE VERY
GLOOMY VIEW Of
THE MARKET
CONSIDER CHANGES SLIGHT
FOR EARLY IMPROVEMENT


Wool experts in New Mexico and
especially the buyers take n somewhat
gloomy view of the immediate outlook
In the market and are inclined to look
for no increase in activity until after
the election. IL indeed any markaa al
n is 10 be expected az thai time
Practically the bulk of New Mexico
and Arizona woods which will be sold
this season have been sold or contract
ed for and the significant events ~
the past two or three DAYS on which
the experts look with disfaVor viii
therefore have little affect upon the
situation locally.
The most significant event is the
announcement of an auction on Au-
gust . in New York city Of 10000
pieces of worsteds and all wool fab
RIGS by the Arlington mills one OF
the greatest manufacturers Of woolcns
IN the world and considered standard
in the United States. The auetioning
of this considerable quantity of wool
ems, notice OF which has been receiv-
ed by Albuquerque Wholesalers. is TAX
en- to indicate an overload on the mart
of the mills ana an effort TO realize
that cannot but have a depressing ef-
feet on the market.
Locally the situation will be Int 1T
tie effected by this ana similar events.
but the buyers, who have practically
done their work Tor this season are
inclined to think New Mexico produc-
ers have come AWAY with much the
better of the argument, although this
years prices have been from SO to 40
per cent lower than those paid in the
season of 1907.
Mr.. a. V~andeWart, of Boston, who
represents Brown and Adams in the
southwest, and who Is by far the
heaviest single buyer in the district.
was asked yesterday as to his view of
the outlook for the immediate future
of the market.
Locally there will be little effect
from recent events in the manufac-
turning section said Mr.. Vandewart
but We have no reason TO anticipate
any Improvement in the market local
ly or elsewhere until after the cleo
ton and 1t may be some time there
after before conditions improve. How
ever, III my opinion, prices have about
reached the bottom. The wool men
of New Mexico nave Jared very well
this season when the condition of the
market is kept in mind. This an
nouncement OF the auction by the Arl-
ington mills indicates very clearly the
condition OF the market and shows
that those who have been dissatisfied
with the prices paid during the sea-
son have really very little kick com
ing.
The buying seaso is about at an
end and m further depression that
may occur will have very little effect
locally"
Mr.. V~andeWart expects to leave for
Boston in about two weeks. He and
his assistants have put in q very busy
season in spite of the quiet condition
of the market and his total purchases
for the season amount to more than
1000, 600 pounds in New Mexico and
something above 1000. 900 pounds in
Arizona. The price paid for this large
line of wool has varied between 9 and
~ cents, with an average of II cents
as against prices of from 1917 10 81
cents paid last season. 1t Is confident
~ expected that by the season of 1908
conditions in the wooden markets will
ave righted themselves to a consld-
extent and that a return 10
something like the conditions Of 1907
may be expected.