Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1909-04-02
Tremendous Capacity Of
Wool Warehouse Now
Building in Chicago
Work Being Rushed Night and
Day In Order to Have Build
ing Completed May IS

Chicago will soon have the largest
wool warehouse in the country. 1t Is
in process of construction now at 43o
and Robey streets. The-building viii
be $50 by 100 feet andswill be the best
of its kind in existence. ltAwill be
absolutely fire proof in every partic-
ular. The walls are brick and the
fl oors reinforced concrete six inches
thick. The building will be five stories
high and sufficiently large to accom-
naodate very large part of the west
ern clip. Appointments will be first
class throughout. All the wool re-
.ceived will be sorted and classified so
that the buyer can buy fiom sample in
the office and be assured of getting
lust what he wants. The establish
ment of this big wool house will be a
q reat benefit and convenience to the
west, in fact the prime movers In the
enterprise are western wool growers,
who have been dissatisfied with the
eastern methods of wool buyers for
many years.
That this will be hard blow to Bos-
ton. is a foregone conclusion, for it
will eventually result in establishing
mills at Chicago and thereby rob the
east of its long enjoyed monopoly OF
the wool industry.
1t is not the intention or purpose OF
those interested to effect combination
for the control of prices, but to ulti-
mately established an open market for
wool. where the grower may obtain the
true value of his product. The present
antiouated commission system had be-
come so obnoxious to the wool growers
throughout the intermountaln states
that they were ready to welcome a new
method. The new movement, built on
sound business principles, has been
m,.st heartily endorsed, and at the
present time is steadily growing IN fa-'
yOr.
The authorized capital of the new
corporation is $40O, 900, $3.50, 600 of
which is allotted to the wool growers OF
the west in the proportion of l cent per
pound for the wool raised. This rule
secures to the wool growers an equlta
BILE distribution of the stock and pro-
vides a sufficient capital for the needs
of the company The remainder of the
stock is subscribed for by business
men of the city of Chicago, among
whom is J. A. Spoor, one OF the wealth
lest and most successful business men
of that city.
The stock held by sheep growers en-
titles the holder to ship 5000 to 5000
pounds of wool for every share of stock
owned by him, but this privilege is not
accorded the stock held in Chicago, so
that if a western grower were to buy
anv of the stock issued to Chicago p-1
,erests, it would not be to his az
age, as he could not ship his wool
the storage price of l cent per pouS
Approximately four-ffths of the en-
tire stock has already been subscribed,
and many subscriptions are being re-
.eived daily. Applications for stock
md information are coming in from
wool growers in Indiana, Missouri, Iowa
!, ,Aother central states, the writers
claiming that the present methods OF
lisparing of their wool in those states
re even more unsatisfactory than
hose in the intermountain states.
The subscription lists will un'
close April Is, whether the
otal amount is subscribed or not. 1t
5 becoming evident to every wool
rover that a shareholder in the new
ompany viii be in stronger position
nd more likely to secure a price
carer the value of his wool when Of
erinp it for sale at home, than one
,ho is not subscriber. Many grow
RS who have sold, realizing an advance
, price through the establishment OF
his warehouse, have subscribed for
tock since selling, and there appears
D be no intention on the part of share S
elders to forfeit their stock In case
lev sell their wool, but to pay the same
forage price and hold their stock for
.e same advantage the coming year. +
A large proportion of the subscribers
ho have sold their wool reside IN