The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1908-08-25
TRUST FEATURES Of
MOVEMENT ATTACKED
Chicago Banks Are said to Have
Agreed to Advance Millions on the
Next Years cIip-other Cities Are
Interested.
Hearst News Service.

Salt Lake City, Utah, August 25.-
Woolgrowers from all over the West
are meeting here today with the exc
cutive committee of the National
Woolgrowers' Association to consider
plans for a national wool storage
movement. 1t the scheme is put into
effect, sheepmen say it will put an
end to the bear movement in the wool
market which takes place at shear
ing time every spring and usually re-
suits in heavy losses by the wool
growers of the West Wool ware
houses will be established at central
points throughout the country where
the wool will be stored until such time
as the growers are offered what they
consider a fair price. Cotton growers
of the South, by means of their union,
have for years used the same plan to
keep up the price of cotton, and the
sheepmen believe that it will be fully
as effective when applied to the wool
growing industry.
Secretary G. B. Stewart, of the Utah
Woolgrowers' Association, leader in
the 'wcolgrowers' trust /" movement.
declares that the sheepmen in this
ing time, have netted 16A cents
pound for their clips just afer shear
ing ime, have netted 16A cents a
pound through the storage movement.
saving S1s cents a pound above the
price first offered, which wotild other
wise have been pocketed by the buy
ers. The meeting here today is rec
ignition of what has already been -ac-
complished by the Utah sheepmen,
and marks the beginning of the move
ment for making the storage move
ment of national extent.
At the present meeting a report
will be read from the committee that
was appointed by the national asso-
citation to go to Chicago and look into
the proposition of bankers and bust
ness men there, which was made to
encourage the shipment of wool to
that city. It is said that at Chicago
bankers have promised to advance
millions Of dollars upon wool for next
years clip that is sent there for stor-
age, and that other business men have
made encouraging offers concerning
the handling and storing of the wool.
But Chicago is not the only city that
is in the field to secure the wool that
win be shipped for storage under the
national movement. Boston. Phila-
delphia, Omaha, st. Louis and other
cities are just as eager to get the
wool
Mr. Walker said that for years wool
growers had been at the mercy of
buyers and that the national storage
movement was for the purpose OF put
ting an end to this condition, which
had caused losses to producers.
"The national storage movement
would result in the saving to wool
growers ofNimmense sums of money.
Take the results of the Utah storage
movement as an example. Recently
between 100000 and 100000 pounds Of
Utah wool. for which the sheep men
were offered 5 cents a pound by buy
ers early in the season, were sold at
l161z cents pound net, That is. the
wool growers cleared 1914 cents above
all expenses Of shipping and storage.
The price was 81 cents more than
was offered to the buyer, he would
have made more than the wool grow
ers. who took all the risks and did all
the work, simply because he shipped
the wool from the producing point to
the Eastern markets. That gives some
idea Of what can be saved to the
Western producers Of wool. If the
wool OF the West is stored until the
manufacturers enter the field for it,
there will be no furher need of pay
, ing annual tribute to the buyers.
whose work In shipping the wool to
the right market can just as well be
/ done BY the producers.
As the wool growers begin to more
thoroughly understand what the stor
age movement means, their enthus
iasm increases. Next season, there
win be : vi u Of wool stored