The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1911-07-18
CONDITION OF
WOOL MARKET

In their current trade circular, JUS
tice, Bateman & Co., Philadelphia
wool merchants, have the following to
say concerning the present condition of
the market:
The wool trade continues dull pend
ing the final outcome of action by
congress on the Underwood wool BILL
Indications are that the reciprocity
bill will be out of the way by August
l, and that then vote will be taken
upon the wool bill, which it is conf
IDENTIFY believed will either be defeat
President, and that in either event the
present law will continue.
The fear, however, of the Under
wood bill becoming law, for the
moment has checked the demand for
wool textiles, and scarce as they are
admitted to be, cautious distributors
limit their orders at the mills to their
immediate requirements, so that since
the extra session of congress was call
ed the wool working machinery of the
United States has had an average es-
timated employment of not over 40
hours week.
Foreign Wool Importations.
Foreign wool importations of grades
similar to those produced here have al
most ceased and the domestic clip
which under normal conditions, sup
plies only half of our requirements, is
now bearing the brunt of nearly the
whole of the decreased domestic de-
mand. The proportion of domestic
wool sold is larger, however, than nor
NAL. Our own sales were 151 per cent
greater in June, 1911, than in June.
1910, with a greater proportion of
sales than this in the first six months
of 1911 over 1910
Some of the Causes for This Condition
In giving causes for this rather
astonishing situation, it is reminded
that year ago western owners very
generally were holding their wool while
now they are pushing sales. One year
ago the growers could not conceive
of the possibility of a tariff ripping
congress called in extra session by a
Republican administration.
The voting of the Republican insur
gents ESQ called at the extra session.
however, has upset all confidence in
any legislative body, and trade calcula
tions have been deranged by the action
of these progressives who, all the
while, while claiming to be protection
lists, were voting with the extremist
wool tariff ripping Democrats. s.
AS these insurgent congressman near
ly all came from wool growing sections,
the trade has been rather bewildered,
and has lost confidence in prime
stability, and is pushing the sales of
wool, at very little above its
do oil,
in wool growing sections are quietly
seem willing to sacrifice and it is
half of the clip has now passed into
second hands. The main confidence of
buyers is in the fact that the wool
goods scarcity win later on give suffi-
cient employment to the mills to alb
sorb the 1911 domestic wool prduc-
tion, as the present tariff act is at
least not very likely to be dangerous
ly changed until a year after there has
been another presidential election.
Prices Unchanged Pending Develop
ments.
Prices are unchanged, while most
sellers and many buyers are disposed
to wait the adjournment of an extra
session of congress, which was called
for no other purpose than the passing
of the reciprocity bill.
Harm by Tariff Agitation.
The harm done to the business of
the nation by the tariff ripping agita
tion at the present session, it is claim
ed is already thousand times greater
than all the good that could ever pos
sibly come from the reciprocity bill,
ever conceded to that measure all
the merit that its many advocates
claim for it.