The river press. [volume] (Fort Benton, Mont.) 1880-current, 1908-06-24
WEDNESDAY, JUNE "a, 1908.
The WOOL

The wall of the wool buyer IL again
being heard in Montana and other
parts of the west. His lamentations
have q familiar sound, being q repe-
tition of hard luck stories of former
years with a few variations suggested
by abnormal conditions in the eastern
markets.
There appears to be q determined
and concerted effort among eastern
dealers and Spectators to bear the
market and purchase western wool at
the lowest possible price. That pro.
gram, of course, is attempted every
year, but il is being worked this year
under circumstances that are calcu.
lated to persuade sheepmen that the
bottom has dropped out Of the market,
and that they must sell their wool at a
price much below what 1t is actually
worth.
The wool buyer claims that he lost
q lot of money on his purchases Of
last year, pointing to recent prices in
the Boston market to sustain that al.
leg CATION. That claim is probably
true, in 80 far as it relates to recent
transactions, but prior to the financial
furry Of last winter he unloaded some
of his purchases at q good profit. The
business depression that affected the
prices of all commodities was of a
temporary nature, and is fast passing
into history. The wool supply Of this
season is for q future demand that
will not be seriously affected by the
financial conditions of six months ago.
The price basis for wool at the pres
ent time should be the prospective
larger demand that will be caused by
improving business conditions, rather
than the bargain counter sales that
r made during the period of finan-
cial stringency.
The wool buyer is making the best
possible use OF q promising opportu'
nifty to realize q good profit on this
seasons purchases. He expects an
advance in prices and hopes to &C.
quire wool at a figure that will give
him a profit even at prevailing quota.
tions in the seaboard markets. When
the better prices materia lize, his prof.
its will be correspondingly increased.
The market price of wool is largely
determined by the figure at which the
grower is willing to sell. There is no
excessive supply Of the domestic pro-
duct, and foreign wool annot be i'm.
ported at q price which will make it
profitable or desirable in competition
with the American clip. Every sale
OF Montana wool at Q price below its
actual value will have q depressing
effect upon the general market, and
operate to the disadvantage OF other
wool growers in marketing their pro.
duct. II all the sheepmen could be in.
duced to hold their wool for what 1t is
actually worth, its price would be sew.
eral cents higher than the figures that
are now being offered by eastern spec.
ulators.
There Is no legitimate reason for
panic conditions In the American wool
trade. AS before remarked. there Is
no large surplus Of American wool;
the London market Is in good shape,
and importations of foreign wool can.
not be made at q profit until there is q
considerable advance in the price of
the domestic product. The ace OF
tariff legislation that would seriously
affect wool prices is removed by the
fact that for several years to come
there will be a republican majority in
the United States senate that can de.
feat any bill OF that nature. These
are some of the features of the situa.
ton that insure remunerative returns
for the wool industry.