Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-01-02

and as result Of this commission
work outright purchases of a large guam
tity Of Australian wool were made IRON
Great Britain II Is now reported tha'
the Government, Is negotiating TO can
eel all or part Of these purchases in view
or the changed conditions. Government
buyers were also sent to South America
and large purchases made there whicr
are yet 10 come into this country.
II has been the almost continued cry
Of Government officials that the supply
Of wool was altogether inadequate 1of
the needs of the Government and for
civilian purposes, and every ehort was
made, including a census Of manufactur
ers' supplies and their possible neeus
from civilian standpoint in order to
determine what proportion of Govern
ment t-owned vool-whch meant rirtu'
ally all the wool in the country-could
be utilized for civilian purposes. WIN
a change from war TO peace oasis
however. Il would seem as though the
supply Of raw material which did moi
appear 10 he sufficient for the require
ments of The Government and for civilian
needs, is more than ample TO take care
Of the latter alone, with the result that
not only been allocating supplies to
manufacturers as they call for them
but has also begun a series Of auction
sales that will probably continue until
the supplies on hand are distributed.
These sales have not been Coextensive
with the supply Of wool owned by the
Government. for IL was feared that the
offering of the entire quantity or Gov
ernment owned wool would exert most
depressing effect upon the SITUATION not
only but would cause too severe loss
to the Government in it's attempt to
dispose Of its purchases. Therefore on
the limited amount that has already
been offered n minimum price was fixed
for each grade, with the result that q
good many lots of wool have been with
drawn. inasmuch as they have not met
with the response from buyers that the
Government demanded
Cotton Fluctuations
The regulations established in the case
Of wool have undoubtedly been re-
sponsble for lack of wild speculation
that might have resulted from uncon-
trolled merchandising. The profits of
the middeman have been restricted
and the manufacturer has not been
obliged to pay an inordinate figure for
his raw material. on the other hand
fluctuations IN raw cotton prices have
been violent. making for uncertainty
and until prices on finished products
we're fixed Governmentally II was nrac-
tically impossible TO determine whether
profits were going to be possible or not
II soon became evident that the un-
usual problems connected with the
t,t ,-it nf ha
manufacturer would necessitate some
regulation of piece goods prices, If the
Government were not 10 take n hand
in the regulation Of cotton. Therefore
the machinery which had been set ur
in this and other trades was utilized
TO effect a method Of control through
the medium of the industry itself but
really in the final analysis conducted
and brought to conclusion by the
price-flxing committee of the war in.
dustries board. War service committees
had been established in various divi-
sions of the textile industry, and these
were called into conference with the
price-fixing committee at Washington,
and the schedule of Government
maximum prices established on both
piece goods and yarn.
This control Of prices as far as cot
ton goods is concerned, extended TO
regulating the margins of the jobber,
and is in force today. 10 be annulled
AZ the first of the year Much dis
cuSsiOn and criticism Of this method
of Government control We're engender-
ed. but the remarkable fact developed
that both buyer and seller in an un-
usually short time adapted themselves
to condition that they had argued