Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-06-03
WOOL PRICES ARE
BELIEVED TO Be
At BED ROCK
Boston Reports That the Lo-
cal Conditions Show Little
CHANGE PiecenoeaI Buying is
Expected; Arizona Clip to
Mills,

The following report Of conditions
in the Boston WOO market is pub
ishcd by the Chicago Drovers' Jour
nal;
Boston Mass. May 30-Conditions
are but little changed in the local
wool market. Sales for the week to-
tailed 2,935.000 pounds. Prices are
seemingly touching bottom on prac-
tically all grades Of wool. yet as the
season advances there is little to en-
courage the belief that any business
! in the near future can be transacted
at higher price levels, and il is by no
means certain that the exact bottom
| has been reached on all grades of
wool. AS Il matter of fact the best
! informed factors in the trade are all
! guessing, says the American Cotton
and Wool Reporter. There seems to
| be no precedent to gauge the present
| conditions by, and while the goods
market is sentimentally stronger at
least, the lessons of the past six
months have been responsible for Il
probable revolutionizing of the selling
| of WOOL i'm the Boston market.
Supply for Months Ahead.
For years past at given periods the
/ big consumers have bought supplies
to run their mills months ahead. Last
September ana October this sort OF
/ buying removed a number of million
pounds Of wool from dealers ware
{ houses to mill warehouses, and the
carrying burden fell upon the mills al
! a time when the price level was fall
! ing with serious rapidity. In addition
| to the price decline, demand fen OF
! 50 that manufacturing was necessar-
! lily curtailed and during the past two
months the same grades of wool
/ bought in September and October
were Obtainable at anywhere from / >
! to 20 cents the secured pound less
than the original purchase price.
| But one result could be expected
! -piecemeal buying, and such buy
/ ing has been the feature of the local
market for the week, with good indi-
cations that it viii continue for some
| time to come. The manufacturer
! reasons. after his costly experiences,
| that ii is less risky to take chances
at the market and cover his actual
orders as received than to buy ahead
with the price uncertainty that now
prevails and for the present at least
this is good reasoning, provided ad-
vantage is taken Of sacrifice lots that
are occasionally offered.
Arizona Clip TO Mills.
Good fine and fine medium woods
at Is cents seem attractively low and
the new Arizona clip is going to mills
on that basis in greater quantities
than at the 5O-cent level. Yet this
price is far from satisfactory TO the
grower who cannot or will not real
ize the changed conditions in manu-
featuring crnters The result is prac-
tcally no direct buying in the west Of
new woods and the discussion and
adoption in small way Of number
of holding schemes that may or may
mot prove successful.
Every one admits that direct buy
ing is the most satisfactory way to
handle wool, provided prices can be
agreed upon, but there Is never a time
when the grower thinks he is getting
his dues, ana the dealers always claim .
that they are paying excessive prices.
During the past two years indisput-
liable figures show the dealers the los
ers, and hereafter they propose to do
business at a profit or not at all. and
a price has been fixed that presum-
ably will bring the profit if the wool
is held long enough. This price is re-
fused by growers generally, ana they
are consigning, expecting to realize
more money than by selling out at the
bid prices.
Are Buying as Needed.
1t looks as if the new woods would
be distributed much more slowly this
season, as manufacturers are getting
the habit Of buying as needed rather
than in advance, and IL such system
Of trading develops, there viii be in
creased carrying charges, which must
be considered by The dealers in fixing
price for direct purchases Of new
woods.
The interesting features Of a com
paratiVeN duh week were a gain in
rlceces. and quarter bloods in purtc-
ular were again sold in fairly large
quantities at what would have been
considered sacrifice prices few
weeks ago. A lot Of 100000 pounds OF
quarters, Michigan ana Ohio, sold at
21M22c, the Michigan lots bringing
Gle. while the Ohios sold at 22c; 200
900 Ohio quarters sold at 22m23c, the
latter figure being paid for some ex-
ceptionally good wool, and a lot Of
%, 900 pounds sold at 23c. Missouri
quarters sold at 22c and odd lots sold
from SC to 21c, according to quality
In the finer flcoces 10000 Michigan
half and three-eighths blood sold at
24c and $4,000 Xxx Ohios sold at sic.
New Flecccs Coming Forward.
The new fleecrs are coming forward
very rapidly as the price is not Yet
definitely fixed. Dealers bid l7G1Sc
but very little wool is moving at that
price.
The market is pretty well cleaned
up on choice territory woods, both in
staple ana clothing grades, and in con-
sequence the volume of business has
not been large. Sales Of 10000 to
so, 900 pounds of odds and ends are
reported by several houses and one
lot of 1907 half and three-eighths
blood territory was sold at zoe. The
wide variety of woods disposed Of
makes it difficult to quote sale prices,
b1IT % range nj from 1p POO iD-