The Sun. [volume] (Price, Utah) 1915-1932, 1920-07-09

George Austin, one of the prominent
Utah ilockmasters and member of the
National Woolgrowers association. is
back home from Washington. y. G..
and the Fast lie attended at CHI
cage aud at the national capitrl a,
well the recent conferences of Wcsf-
ern and Middle States wool interests
aud bankers. which included Governor
Harding and others of the federal
rc.Crve board. relative lao WAYS and
means Of extracting the wopl indus
try from It's uncertain ptcdicamen,.
There Is mo- occasion now for the
least alarm ut all. " Austin SAYS "Thc
outlook is entirely satisfactory Al
che Western woolmcn. except from
California and Nevada. and leading
bankers from most of the wool states
were at the Chicago and the Wash
ington meetings. But I regret there
was mo- representation from the Salt
Lake City banks. Every angle of the
sheep industry and more particularly
of the wool market aud situation was
gone over thoroughly nt Chicago be-
fore we went ON 10 Washington. where
we met with President Harding of
he federal reserve board. and there
was n full attendance OF the meet
ings at the capital The features Of
The unusually hard winter. great exc
penso of maintenance and the very
heavy losses were presented. We Oh.
famed reliable data ~ to the amount
of wool on hand in the United States
md foreign countries. only 10 ..nd
there is no surplus at this tim' of the
wear and prices should not b. less
han in 1919.
We are more than graceful with
he attention from President Hard
ing and associates IN the fsaCrnl r..
serve IN doing everything possible TO
prevent any unnecessary hardship on
our woolgrowers by reason of fnnn-
cial conditions and We were assured
the federal reserve through the mem
her banks in the different districts
wore prepared 10 take care Of this
situation, realizing that woolgrowing
hs one of the great necessary indus
aries of the country both from the
standpoint Of the woolgrower and the
mutton producer. Bankers from the
different states expressed themselves
ts more than gratificd at the results
of the conferences, for it Is true that
the success and maintenance of rcn-
sonable market prices depend ON co-
operation of the local banks with the
growers,
I'll was the unanimous opinion that
ho banks should make liberal adj
yances, say forty 10 NIFTY cents, ~ as
Ia enable the growers 10 meet their
obligations, because wool rs not q
perishahle urticlc or one We can dis
pense with. Senator King was pres
.cnt al the conferences in Washing
ton along with Senator Smoot, and
was much interested. feel sure that
our Utah banks, being noR assured of
federal reserve backing, will take
care of the woolmen until conditions
aud the markets have readjusied
themselves in the near future,
1--WE may expect things 10 re-
main more or less unsettled until af-
ter the presidential election, some
thing that always obtains every four
wears. / would also like To state that
President John ID. Holiday of the
Chicago Wool Warehouse company
and also one of the more prominent of
Chicago bankers, were present al the
conferences, and Will do everything
10 their power 10 aid the woolgrow-
ers. Also, IL was encouraging 10 note
the way the Middle States ana par
ticulariy the Iowa bankers backed the
wooluowcr up