Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1910-01-14

In June, 1908. committee was ap-
pointed by the officers of the National
Wool Growers association for the pur-
pose of conducting an investigation as
to the best place for the location of
wool storage warehouse. After
thorough investigation, it was decided
that Chicago was the best place at
which to locate the initial warehouse
This conclusion reached, the Chicago
bankers and large business interests
were seen, and at a meeting between
the committee and the Chicago Asso-
citation of Commerce, it was decided to
organize, the western wool growers to
subscribe for five-eighths of the stock
and the remainder to be taken by the
Chicago people. This proposition after
the matter had been explained, was
accepted by the western wool growers,
and $50, 900 of the capital stock was
subscribed and paid for by them. The
Chicago people took a proportional
amount of stock, the money for which
was at once placed in the treasury.
"The company was organized with
capital stock of $4O0, 900, of which $270
600 was subscribed, most of the stock
being taken before the last annual
meeting of this assaciotion in Pocatello
in February, 1909 The company was
fully organized and officers were elected
for the purpose of carrying out the
original plan. Since then real estate
has been purchased and a warehouse
erected at total cost of about $l70, 900.
During the year 1909 about 1000, 900
pounds of wool were shipped to the
national wool warehouse, this being
practically all western wool. A large
part of this wool was sold at prices as
high as any obtained this year. The
company has been extremely for
tunate in securing President Cos
griff, one of the principal wool growers
of the west to assume the management
and control of this organization
Through his efforts the national wool
warehouse has in very short time
been placed on solid business founda-
tion and its finances are nan extremely
satisfactory condition.
s'The continued success of the
national wool warehouse depends en-
tirely on the wool growers themselves.
The success achieved during the last
year has been notable. 1t is not only
those wool growers who were stock
holders in the company, or who shipped
their wool to this house, who were
beneieiaries by reason of its existence.
but practically every wool producer
who sold his wool clip after the or
ganization was determined upon owes
portion of the fair price received to
the fact of the existence of the Ma
tional Wool Warehouse company.
During the fall of 1908 last springs
wool clip was being contracted for at
prices ranging from 10 to 10 cents
pound. This continued up to the time
of the Pocalello meeting last February.
At this meeting large number of the
wool buyers were present, and as high
as 20 cents pound was paid for wool.
A little later in the season prices ran as
high as q cents pound for few clips
When the wool buyers at the Pocatello
convention saw that they could not
hope to buy all of the western wool
clip, some of the growers being deter
mined to ship to the National Wool
warehouse, they withdrew from the
field, apparently believing that by this
means they could force down the sell
ing value. of the remaining wool, so
that they could name the price, as
had been their past custom.
From the best information obtainable
about four firms IN Boston have for
many years bought and controlled at
least rs per cent of the entire wool
clip of the United States Both the
wool growers and the wooden manufac-
turers have been at the mercy of these
firms. The wool grower has been COM
PEELED to accept a low price for his clip
while the manufacturer has been COM
pelled in his turn to paya high price
for the wool. Many efforts have been
made in the past to remedy this state !
Of affairs by cutting out the middle man
and as nearly as possible bringing the
producer of woods and the PRIMARY con-
sumer- the manufacturer together so
that the first should receive fair
price for his product and the latter
should not be compelled to pay an ex-
'essive price for wool. These efforts I
nave all failed partially because manu-
facturers generally were afraid to en-
gage in an Independent movement,
which might bring on them the il-will
If the Boston wool buyers trust, and
partially it is believed, through the
of that trust in destroy