The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1913-04-22
WOOL MARKET Is
STILL DEMORALIzFD

The wool market still continues in a
demoralized condition with no bids.
So far as known, the only sale of i'm.
portance of this years clip was that
+ OF John G. Taylor, made about a
month ago at IA cents. If placed on
the market today, the same clip would
not bring to exceed III cents. This de-
cline In price is due entirely to the
probability that congress will place
wool on the free list.
In their trade circular, dated Phila-
delphia, April II, J. Bateman & Co.,
wool merchants, have the following to
say regarding market conditions:
Tone of the Market.
| The wool market is in an unsettled
condition at present as result of the
discussion of the tariff bill by con-
gress, providing for drastic cuts in the
duty on goods and "free WOOL
A total removal of the duty on wool
had not been anticipated by the trade.
The view was generally held that the
bill passed by the Democratic house of
representatives last year, marked as
great a reduction as would be propos-
ed at this time. During the Demo
cratic campaign last year free wool
was not advocated, and the stand
which President Wilson has taken in
demanding that wool be placed on the
free list, comes as decided surprise
| Manufacturers are also disappointed
at the inadequate duties imposed on
manufactured goods, and are alarmed
at the competition which they will be
forced to meet if this new bill becomes
law.
/ Under these conditions, il is not
surprising that manufacturers have
ceased buying wool except such stock
as they need for immediate use.
Stocks of old wool in the market are
light, and this has prevented the
sharp decline in prices which would
no doubt have occurred as a result of
/ the announcement of the new tariff bill
/ If stocks had been normal. The ten
dency, however, is towards lower
prices, and an adjustment is gradually
taking place that will bring values to
a free wool basis.
/ Ii is believed by many that the bill
will be amended in the senate, and
that when finally passed, it will pro-
vide some measure of protection for
the wool growers. Until there is some
assurance that this will be the case,
however, there will be much hesitation
\ in buying the new woods, and opera
tions will no doubt be based ON the as.
sumption that the present bill will go
through.
. Aside from the industries Immediate
! ly affected by the proposed changes in
the tariff, business conditions in the
country are apparently good. Stocks
of merchandise are light in almost all
directions, and the prospects are en-
couraging for good crops again this
year The government report on the
condition of winter wheat is very
good, and prospects for other crops are
also favorable.
The Underwood Bill.
There are so many bad features in
the Underwood bill as viewed from
the standpoint of the wool grower and
manufacturer, that it is not possible
to cover the matter fully in a trade
circular. The wool growers are men
aced not only by the removal of the
duty on wool but even more seriously
/ by the placing on the free list of part
! ly manufactured products such as
4 nOlls, top NdsIe, ring WASTE, Rdrnetleu
waste, shoddies and carbonized wool.
These partly manufactured products
will displaee a large amount of short
staple domestic wool, and will no
doubt provide competition that will
be most severely felt by domestic
clothing woods.
SO many states, where wool growing
is a prominent industry, are represent
ed in the senate by Democrats that it
would seem that strong and concert
ed effort on the part of those interest
ed, could force some Improvement in
the bill and especially through deter
mined opposition to the free wool pro-
vision. We believe that the bill which
was introduced by the ways and
emans committee represents the views
of the most radical element in the
Democratic party. and there is good
prospect that before any agreement is
reached by the house and the senate,
there will be an improvement in the
bill, and that both wool growers and
manufacturers will be better cared
for than now appears. Many incline
to the view that during the time the
bill is under discussion in the house,
the period of greatest depression in
the market will be reached.