The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1911-05-16
WOOL MARKET
SHOWS STRENGTH

! In their latest trade circular, JUS
tice, Bateman & Co., the Philadelphia
wool merchants, discuss the market as
follows:
The sales of wool continue in the
same scale, in strong contrast, how
ever, with the greater activity in wool
growing sections.
The woods in Nevada and in some
other states already are nearly all
sold on basis of quite as much, if not
more, than the present eastern marke>
selling price. Presumably the incent
i've is to secure wool at the low price
which evidently is discounting any
probable tariff change These are
nearly all woods of merino blood.
Strong Position World Market.
AS the closing of the London auc
tions was at from per cent to 6h
per cent higher than on the first of
this year, the strong position of the
markets of the world may be regard
ed as cause for confidence in so cent
American fine medium wool, such as
brught 72 cents in November, 1909,
just before Mr.. Taft made his unfor-
tunate and ill-timed Winona speech,
when the assault upon the wool sched-
ule commenced, and since which prices
have been steadily declining in the
United States, but not elsewhere in
the world IS markets.
The shrinkage in domestic wool
values have been one fourth greater
in the same time than the decline
caused by Grover Cleveland free
wool message in 1898, but both declines
show how in business affairs the price
future is anticipated or discounted.
Wool Tariff Revision Cannot Pass
Senate.
The passage of the Canadian recip-
rocity act will soon be followed by a
bin for wool tariff revision more or
less radical, that will pass the lower
house, but which is certain to cause a
deadlock in the senate. Some of the
Republican leaders, as a choice of the
lesser of the two evils, are Of the
opinion that it will be good politics to
concur in the house action on the Cana
dian reciprocity act, in order to
strengthen their position with the
president, who it is asserted, has in
| timateion that he would positively
veto a free wool measure or.any other
bill that would destroy any industry,
even if he had to take back some of
the things said in his ignorance of
schedule X. Insurgent senators are Re.
lpublicans only in name, as they more
often cooperate with the Democrats
than with the so-calIed standpat OF
majority wing of the Republicans
Insurgent Republicans and Democratic
Senators Opposed to Drastic Cut.
INT oc nI
Democratic senators from wool grow
ing sections have declared their unal-
terable position to any drastic cut in
the raw wool rates, so that as has been
often stated, the present wool price re-
duction has more than discounted any
probable tariff change.
Market Firmer in Belief That Schedule
x Will Endure.
The wool market is firmer in con.
sequence of growing belief that there
will be no change made in schedule K
at the coming session of congress, and
that schedule X of the Dingley and
Payne-Aldrich acts, after all, will en-
dure, and prices rise for the reason
that as soon as this is clear woods now
pressed for sale viii be marked up or
withdrawn altogether. This will de-
velop in the short supply of textiles, it
is urged, and cause a rush of orders at
the mills and cause all the more ac-
tivity owing to the long stagnation.
Nothing to Be Done Until Tariff
Board Reports.
The Republicans in congress will
take the ground that large amount
of money has been spent on the tariff
board to enable it to secure exact
tariff information, without which a
scientific revision would be impossible
and as that board will not be ready tc
report before December, no action
should be taken before then. This
position will be all the stronger owing
to the fact that Mr.. Underwood s com
mittee is without information to jus
tify their proposed drastic cut which
is admittedly made owing to a fancieG
political necessity of Importance tc
their party.
The Utah wool growers have beer
notified by prominent congressman
that in his opinion the wool bill from
the house will never reach the senate
floor When this becomes generally
known, it will mark the turning point
of prices in the wool market.
Many in Trade Buying Actively.
This is the view taken by most oi
the trade and explains why the coun
try is being cleaned up as fast as the
wool is clipped, at prices above the
parity of selling prices in the east
Those who are operating regard it az
a cinch, offering an opportunity tc
make money that has not been pre-
sented since 1897.
Congressman Believes Prices of Woo
Will Go Up.
Other wool growers have been advis
ed from Washington that no revision
of schedule X will take place at this
session. Although not wishing to quail
fly as prophet prominent congress
man from a wool growing section, ant
in a position to know, says that in hi
opinion wool prices will go up imme
dately after, if not before the extr,
session of congress adjourns.
The approaching action of the Unit
ed States senate drawing near, seem