The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-05-10


warehouses will begin at once. The =
= united movement of the Utah WOOL 4
= growers Is a Uccess.-Secretary G. y
= b. Stewart Of the Utah WOolgrow- \
> ers. =
4++++++%+<%%<++&+k%%%+++ :
Steps were taken at the mass meeting
Of the Utah wool growers yesterday
afternoon to protect the sheepmen from
suffering through the influences Of the
bear element In the wool market A
committee of ten was appointed to take
charge Of the active work of uniting
the wool growers of the state in q
united movement to ship this years
clip TO Boston and there hold It In a
warehouse until suitable prices are Of
fered.
Stephen NJ. Convey Of 326 South Sixth
East street was selected as the Boston
agent Of the Utah wool growers He
viii so to Boston to take charge OF all
matters relating to the proper storing
Of the Utah clip, negotiations with
banks and with buyers.
It is estimated that there are ulore
than 700 men in Utah INTERCEPTED in the
sheep industry. It win b. the duty OF
the wool growers committee to reach
all of these and inform them concern
ing the proposed plan for protecting
the sheepmen from loss through throw
ing their product upon the market at
an unfavorable time.
At the ATmOry hall meeting yester-
day afternoon representatives of big
buying concerns and railroad agents
were sprinkled among the wool grow
ers. Although they did not take part
in the discussion, they listened to the
debate upon the proposed union Of in
terests with deep interest.
Austin Tells of Trip.
E. H. CaIister called the meeting to
order and briefly explained its purpose.
J. Z. Austin was then asked to tell
the results of his trip to Boston with
E. ]. Kearnes.
Arrangements were made in Bos-
ton" he said. "fOr the advance OF $780,
coo upon Utah wool when il is placed in
storage in a warehouse there. That,
we think, is sufficient to carry the Utah
clip, but if more is required II can be
obtained. The banking institution Of
fering to finance Utah woods is willing
TO lend the S750O00 at 8 per cent per
annum for a period of six months, with
the understanding that the loans can
be renewed at the end Of the six
months If market conditions are nor
NAL. Each wool grower viii be allowed
wool at the prevailing market price
LAS to storage, we have the assur-
ance Of the National Dock & Ware
house company that we can store all
the wool we ship, up to 100000
pounds"
He then read a letter from Harry P.
Ripley, assistant manager OF the Ma
tional D. & S. Warehouse company, IN
which the cost of storing is given as
piling the wool, and cents q ton
monthly storage. The insurance was
given as AZ 6-1O cents on $780, An ex-
ira charge, IL was stated, would be
made for floor space to be used In open
ing and grading the sacks of wool, and
all extra labor would be charged for at
the rate of 50 cents an hour.
Money In Storage.
Present condftiN " give every assur-
ance that united action on the part Of
the wool growers Of the state will re-
suit in substantial advantage TO every
one concerned" said Mr.. Austin.
There is double the amount OF wool
on hand at present that there was q
year ago, but we have 12-cent wool to
sell, against the 25-Cent wool held by
the large eastern buyers"
Mr.. IKearnes followed Mr.. Austin,
luGIc 10 llD mar net loE WuOl dl ln6
present time" he said. Buyers, offer
ing u and 10 cents, are keeping in view
the condition Of the eastern markets.
If this years clip is stored for q time,
there is no doubt that the price Of wool
will revive.
AT present not more than 20 per cent
Of the wooden mills are running"
Mr.. Kearnes then called attention 70
the wisdom of sending a man to Bos-
ton to see that the Utah wool, when
shipped there, is properly stored and
cared for, and to be on the ground to
watch the interests Of the Utah sheep
men.
Mr.. Austin did not agree with Mr..
Kearnes' statement that there is at
present no market for wool Two
months ago" he said. Jeremiah VIII
liams paid % cents a pound for !, 900, 600
pounds Of wool; thirty Gays ago ne
paid q cents q pound for the same
quantity, and few days ago he
bought heavily at 1874 cents a pound.
Continued on Page 9.