The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1909-04-11

Salt Lake railroad men who have re-
Gently been up in southern and eastern
Idaho report that while but small
part of the 1909 wool crop has so lar
been clipped cars at various points
are being loaded daily and shipped
east. A large portion of the southern
Idaho clip is going to the wool storage
warehouse in Chicago ldahO nock-
masters have been the most liberal IN
responding to the warehouse plan, ana
d larger percentage of the Idaho crop
will go to Chicago, il IS reported, than
from anv of the other wool growing
states. with the possible exception Of
wyoming. Utah has not responded TO
the warehouse scheme as literally as
was boped. and will send to Chicago the
smallest percentage of its clip of any
of the western states interested in the
scheme.
The latest reports concerning the
warehouse are that the basement and
first two floors will be completed this
week. and that the entire structure VIII
be finished by May 20, as called for IN
the contract. One hundred and twenty
five men. divided into three shifts, are
said to be working on the building at
Forty-third and Ruby streets, Chicago,
and every means possible 10 rush con-
struction is being employed. The big
warehouse is being built by the Ma
tional Wool Warehouse & Storage COM
pany. organized to carry out the scheme
decided upon by the National Wool
Growers association. The building
company was organized at capitaliza-
ton of $500, 00O. of which S250000 was
subscribed by the wool growers and the
remainder by Chicago business men.
The storage capacity Of the warehouse
when completed viii be 25.OOO.0OO
pounds of wool, and of this. 2OO9O,OOu
pounds Of wool were subscribed by
western growers for shipment to Chi
cago. The stock represents 1 cent per
pound on all wool subscribed, and none
other than actual producers may sub
scribe for this stock.
Circular Letter Sent Out.
The National Wool Warehouse &
Storage company has recently sent a
circular letter to all its western share
holders, which contains some late in
formation regarding the status of the
business and the plans of the company
The subscription lists for stock in the
company will close on April 10, except
10 wool growers in Montana and Ore
son, where the lists viii remain open t.
Nav 1. After these dates no subscrip-
lions will be received until Nov. ! this
year
Notwithstanding the publicity Whlcf
was given the Chicago warehouse plans
when the scheme was first determined
upon. il is said that a great many WOO
growers are still writing for informa
ton. and profess to be unable TO Un
derstand the details They are i'm way
rather complicated. Each share of stocl
costs $50. and entities the holder to shiI
not less than 5000 pounds Of wool, MOI
more than 5000 pounds. on account o
each share Of stock owned The charg'
for storing the wool, which includes
handling. insurance and selling, Is
cent Der. pound 4 shareholder may no
ship more than 5000 pounds of wool 70
each share of stock owned and If h
has not a sufficient number Of shares L
cover his CilD. he must purchase sue
additional shares as may be necessary
The shares of stock allotted to the bust
ness men of Chicago do not carry Wit
them the privilege of shipping wool {
the warehouse
There is one matter which many woo
growers. even among those holdin
shares in the warehouse company, seer
not to understand. II is this. \ share