East Oregonian : E.O. (Pendleton, OR) 1888-current, 1909-05-25
PLAN To DEFEAT
WOOL SALES DAYS
BUYERS WOULD ELIMINATE
COMPETITOR IN WOOL SALES
Accounts for Increase In This Year
Practically IS Per Cent of Wool OF
Entire Country Passed Into Hands
of Buyers - Eastern Buyers Work
Against Chicago Storage House
Idea.

Portland.-Woolgro are hay-
ing their inning in the market at this
time. The Improvement In prices has
been 80 marked that the advance in
rates put the market beyond the con-
troll of the dealers.
That the present advance In prices
was planned by the buyers in the hope
of staving off the day when Chicago
was to wrestle from Boston the con-
troll of the wool market of the United
States is practically certainty says
q special writer to the Journal.
That the advance--or in other
words-the boost in wool quotations
was simply for effect, those interested
have not the slightest doubt. That
the plan to keep from Chicago for
this season at least the majority of the
wool of the United States-and there
fore the control of the market has
succeeded even the Chicago promotes
Will not likely deny.
Practically rs per cent. Or even
more, OF the wool of the entire coun-
try has already passed out Of the hands
of produeers-and into the hands Of
The buyers. so that even were the Chi
cagO Warehouse people to secure what
is left they would be in no position to
make a market. So little wool is re-
naming unsold In the hands of pro-
ducers that even the regular wool
sales days have become void Of pur-
pose.
While wool buyers were cIamoring
and talking of very high prices for
the 1O9 product early In the season
they are now fearful lest the ideas of
holders get too fixed and that too at
prices That would scarcely insure big
profits TO buyers. BY boosting values
early IN the season the buyers hoped
and did defeat the Chicago warehouse
plan temporarily as they likewise put
quietus to the wool sales
Buyers Oppose Sales Days
These regular wool sales have been
a thorn IN the side of wool buyers
since they were inaugurated and every
season an effort has been made TO
defeat the sales purpose ny buying up
enough Of the product to make them
ineffective in regulating the market
To the producer OF wBol the held
ings OF regular sales at stated places.
where buyers and sellers could con-
gregate, meant that he would be able
by such means to have as an audience
the representative buyers of the com-
try and by this means would force
competition that would not be obtain
able were private sales held and one
ar two buyers bid on the clip.
To get rid OF the regular sales days,
therefore. has been the aim Of the
buyers from the very START. That
they have not been In favor of such
transactions is shown by their atti-
tude on numerous occasions, but OPP
eratons this season showed conclu-
sively how they regard competitive
bidding.
That woel which has been sold at
private sale this season would have
brought a still higher price, is the
opinion of even the opposing buyers
themselves, but they are not shouting
these tidings 10 the growers.
The position of the wool market this
season tends to show that even with
all the talk of thebuyers Of AN over
production in the past few seasons
wool is really scarcer at the principal
centers this year than ever before.
This is the real cause of the high |
prices in effectat this time, although |
manipulation pune and simple; having |
for its effect the defeating of sales
days.