The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1915-04-08
WOOL MARKET DE-
PENDING ON WAR

Following is a summary of wool con-
dltlons taken from the April 1st Trade
Letter of j. Bateman & CO., Philadel-
phia wool commission merchants:
During the past month the wool mar
ket has been quiet, following a very
active period with a sharp advance in
prices during January and February.
The upward trend to prices which
started about the first of the year. was
largely caused by foreign conditions
and the demand for wool brought
about by the European war.
There has been an extremely heavy
consumption of cross-bred or medium
woods during the past six months in
making army goods, and this has re-
suited in very high prices in all for
eign primary markets for woods of this
character, and prices for cross -breds
have shown a steady advance at the
London auction sales since the first Of
the year. These conditions abroad
have brought about a corresponding
advance on medium woods in this coun-
try, notwithstanding the fact that
manufacturers of goods for the Ameri-
can market, have been poorly employ
ed owing TO the unsatisfactory eondi-
tion of general business. and the lower
power of the community,
due to lack Of employment in many di-
On Merino or fine wools the eondi-
tions are somewhat different. The Me-
rino wools of Australia, South Africa
and South America, have usually found
their most important outlets in Ger
many, Belgium and France, but the
war has stopped manufacturing in
these sections so largely that the con
sumption of Merino woods during the
past six months has certainly been
less than in an average year. In direct
contrast, the consumption of cross
bred woods has been unusually large,
as noted above.
The embargo which England placed
on the shipment of wool from Austral.
asia and South Africa to this and other
neutral countries, further restricted
the outlet for Merino wool, so that in
December, prices in those markets for
fine woods were on a very low basis
there has been some relaxa-
tion of the embargo on fine wools. un-
Ter certain restrictions, but it is still
liffieult to get permission to ship, and
facilities are also linn
ted. In spite of these drawbacks to
.rade, prices have advanced on Aus
.ralian Merino woods both in the pri-
mary markets and in London owing
TO American buying.
At one time il appeared likely that
Germany would be an active eompeti-
tor for the new American woods, that
country having bought several million
pounds Of territory fine and fine medi
nm woods from the stock in Z. S. A.
.arried over the first year. The action
IF the English government, however,
IN placing wool on the contraband list,
and refusing to allow anything to be
shipped to Germany or Austria, has
the prospect of shipments
getting through remote, and so brought
about a marked change of attitude on
he part Of those presumably buying
for German account.
The question of the worlds supply
md demand for wool has been so com
1letely upset by the war, and the
lsual trade movements so impeded by
blockades and lack of ship
,ing facilities. that it is exceptionally
lificult to find solid ground on which
% base a prediction as to the future
course of prices.
So long as the war continues, there
viii no doubt be an active demand for
WOOL abroad at high prices. The prob |
lble course of prices in the event of
he early ending of the war, is ques-
ion on which there is soem difference
# opinion. There is no accumulation
Il cross bred wool in any of the mar
sets Of the world, and no indication of
over prices, even with the cessation
Il hostilities.
With regard to Merino wool. it is
expected that the close of the war will
ring about very active demand from
french, Belgian and German manufac-
urineg centers, which are bare of
WOOL. and this may bring about higher
ather than lower prices