The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1908-05-29
CONFIDENCE IN
WOOL MARKET
INDICATIONS ART THAT PRICES
WILL GO UP.
ORDERS ARE NUMEROUS
Firmer Cables Being Received From
Abroad-several sizable Transfers
Recorded Last Week-Many Buy
ers Starting West.

Recorded Last Week-Many Buy
ers Starting West.
There is increasing confidence in
the wool market, says the Boston
Commercial Bulletin. Duplicate or
ders in worsteds are more numerous,
and the general condition of the wool
consuming industry is slowly improy-
ing. Naturally there is more belief
in a better demand for raw material
in the future. Improvement may be
slow, and doubtless will be, but there
is pretty good evidence that the tide
has turned, that the end Of the long
period Of depression has been
reached.
The London tirmness has, OF
course, been reflected in the local
situation. It is said to have stimulat-
ed buying, and there certainly has
been more business put through since
stronger cables began to arrive. It
was at first thought that the harden
ing tendency was due to the growth
OF some special demand and that
with this filed depression would fol
low. But each days sales have wit
messed a continuance Of active com
petition and Strengthening values.
So 1t is believed that the situation
on the other side has at last changed
from depression to activity and that
the downward course of values is
checked. Whether the change is per
manent remains to be seen. There
are some people here of the opinion
that London is being rugged" and
that skilful manipulation Of the Of
ferings, not putting up more than can
be readily digested, is primarily the
cause Of the improved tone. For the
whole Of the first week offerings av-
eraged only about 5000 bales daily.
and previous to the opening it was de-
cided to hold over $4,000 bales of the
available supply Of about 204,0 0
bales till the July series.
Prices No Lower.
With a fair volume of business and
no further radical change in prices,
holders are beginning to talk more
encouragingly. Among the import
ant transfers OF the week are sizable
quantities Of o%ne-quarter blood fleece
at 81 to 22c and a fair amount Of old
territory in small lots at the prices
prevailing last week. Prominent also
in thes published deals is the move.
ment in new Arizona stock, estimated
at about half a million pounds in the
aggregate.
Several buyers for large firms have
started for the west this week and 9
more lively situation is expected to
develop shortly in producing sections
However, there is no disposition to
hurry matters, and buyers will doubt.
less observe caution. The movement
sc far has been very slow in Utah,
Wyoming and all other sections, most
OF it being on consignment at ad.
vances Of 6 to s cents. Buyers and
sellers are wide apart in all sections
Conditions here do not warrant a
very optimistic feeling as yet, fo1
much has yet to occur to set the mar
ket right. Growers, therefore, should
bear in mind that Improvement in
London does not necessarily mean a
sudden revival in this country.
There is still a great deal of unoc
cupied machinery in the wooden. trade
and large unsold supplies of territory
wool still left in the hands of Boston
dealers, to move which mean a Sc
we're loss as prices are at present.
Shipments Of the week amount to
nearly 100000 pounds and are the
largest Of any week this year.
London Auctions.
~ IT,. E&H-tLa ~ 9A-EE&EHb
It is the consensus of opinion
among local authorities that London
values have fully recovered the de
cline on the opening day, so that the
market is back where it was at the
close Of the March series. Some ca
bles quote an advance of S per cent
On fine light greasy merinos. Woods
suitable for America are scarce and
operations for this country are likely
to be small on this account.
Texas Wool.
A fair amount of secured fall hal
sold at AZ to 43c. The demand Ii
moderate and confined to small lots
There has been nothing doing in new
spring woods.
Territory Wool.
Quite large transactions have beer
closed in new Arizona woods, half ,
million pounds in all being estimates
Of the transfers. Two or three hrml
participated. Prices range from
1914 to 17hc, and the secured cos
is placed at 45c to 48c.
Sales of old wool are mostly ii
small lots Of Utah, Wyoming an,
other kinds. Heavy fine sold at !.
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