The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-04-08
SAYS STORING
Of WOOL RULE.
Secretary of Woolgrowers AS.
sOciatiOn Declares Vast Quan-
titles Will BE Held.
BLAMES TARIFF TALK FOR
PREVAILING Low PRICES
Utah Flockmasters Determined
TO Keep FIeeces Until Mar
ket Is Firmer.

With prices at bedrock aud the mar
ket unusually quiet, woolgrowers of
Utah and other states Of the west are
arranging on ali sides to store their
wool, according TO c. B. Stewart. sec.
retary of the Utah Woolgrowers' asso-
citation. Mr., Stewart says there is
great deal of clipping going on at pres.
ent throughout the state and it will
not be long before there will be be.
tween $1,000 900 and 100000 pounds
of the fleece ready for the market. Ap-
proximaiely half of that quantity is
ready now. But the woolgrowcrs are
confronted with low prices. and even at
the bedrock figures the eastern buyers
apparently are not over anxious to buy
and therefore the market is dead
The cause of the slump in the wool
market is said TO be the tariff agta
ton. The wool manufacturers are hold
ing of in hope that the tariff will be
reduced and they will be enabled TO buy
wool at figures much lower than they
would he under present conditions. The
woolgTowers themselves do not intend
to sell their clip at the present prices
and therefore are holding out. The
storage plan is their means of combat
ting the eastern buyers and the slump
in prices.
Storage at Low Cost
Mr.. Stewart said Friday that the
Utah Woolgrowers association has com
pleted plans for the storing Of all Utah
wool at the lowest possible cost The
storage viii be through the association
and will be by the millions of pounds
instead of by small conslgnments such
as would be necessary if the wool were
stored by the individual buyers. Mr.
Stewart says the sheepmcn are deter
mined in the matter of getting better
prices and will hold ont until they get
the figure thev believe they should
have. The growers will get an advance
on the market price of the wool OF
about 80 per cent which will help them
carry on the fight. The storage costs
will not be heavy and the interest on
the loaned money will be 6 per cent per
year
Mr.. Stewart says he expects to get
several million pounds of wool stored
through the association. Besides the
Utah growers. many big sheepmen from
Idaho, Nevada and western Wyoming
have signifed their intention of storing
through the Utah association.
In Various Storehouses.
Many of the growers will store
through the Nataional Wool Store COM
pany in Chicago The terms of stor-
age there are somewhat different from
those offered by the association, but
they are in the same line with the gem
eral storage policy.
Still other growers will store in In
dividual store houses in the east. The
general storage plan is to be in effect
probably two or three months. 1t Is
firmly believed by the growers that the
wool tariff talk Will discontinue by that
time, and they firmly believe, according
to Mr.. Stewart. that downward revisiou
will be turned down at the present ses-
sion Of congress and the factories will
be forced TO buy wool for their needs.
AS their supply has run short it will be
necessary for them to do heavy buying.
At this time the sheepmen hope 20 force
the prices up 10 point where they be.
iieve they should be, 1t is understood
that the growers in the association who
store their wool will demand an aver
age price of at least 20 cents a pound
for the fleece. Others, however, may
sell for less
1t is said that there is but little buy
ing in progress at the present time be-
cause OF the tariff agitation. The buy
ers are all idle, waiting for the tide to
turn one way or the other before MAX
ing their spring purchases, The prices
are so low, 1t is declared, that even II
they should want to buy they could get
but little wool,