The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1920-07-30
WHAT'S THE MATTER
WITH WOOL? FELLOWS
Who GROW IT ASK
BY WILLIAM r, SANBORN


market price of wool, nor the date of
its marketing, is of great consequences
10 any Wayne farmer, all who have a
clip TO sell are wondering what. can
nave happened, and why there is no
cash demand, at least not at any
ngure that is in the least acceptable.
Ih1s Is question that all America Is
asking. 1t concerns every one OF US.
II relates TO our coming expenditures
for Clothing, for blankets, and for
every fabric into which wool enters,
wholly or in part
The wool clip Of Wayne county Is
not large. We are not wool growers
but farmers. Our wool clip Is but
incidental to the feeding OF a few
sheep, kept for various reasons, mostly
to clean up the woods and pastures
and for lamb and mutton, rather than
for WOOL
But even SO, whatever wool we may
have should be marketable and should
bring a satisfactory price, especially
so when we consider paying $40 to
SIS per pound for wool in admixture
with cotton in mems clothing, or in
Atwood garments and fabrics.
A Nationwide Condition.
What has happened to wool in
Wayne has happened all over Indiana
1t has. indeed. happened all over
America It's effect is felt seriously in
all wool-growing states, and in these
states the bankers have been trying to
solve the problem. They have mil
lions OF dollars tied up in wool in all
the wool states.
Texas alone has nearly 100000 900
rounds IN wool storage houses, on
which the banks have largely loaned
to the limit, and there is still a lot Of
wool on Texas farms.
New England has become immense
ly rich because of the extravaganza of
the west. 1t Is the birthplace of in
vestments as we'll as OF liberty. All
the retrenchments that people are
everywhere making in fabrics reflect
back on New England, its spinners and
its banks.
When demand ceases to press, pro
Guction Is curtailed. This Is just now
the case in the wooden goods trade,
also to some extent In cottons and
various dress materials. The American
Wooden company have warehouses
piled with stocks of manufactured
woolens, mostly representing can
celled orders. They are in no mood to
add to these on what, in the very
nature of things and worldwide trend
must be a declining market. One
must be blind not to see that the peak
IN prices has been passed.
In Dormant Condition.
1t Is clearly apparent that New Eng
land is now dormant, as far as shoes
hides, leather and wool are concerned
Neither the tanner nor the shoe manu-
facturer are really pressing production
The aid Is ustless. Wool is stagnant;
It is awaiting buyers. AS to hides the
west is full Of them: never more sc
indeed and prices have gone to pieces
compared with a year ago. This does
not help the fine shoe trade making
the best womens' wear, greatly, ex
cept for soles, but should cut the price
Of mems calf and split grain" shoes
whole lot. 1t should. and must
eventually, lower the price of all
classes of work shoes, in particular.
Indiana is greatly interested in cot
ton. not because we grow 1t, but
because we use so much of 1t, and
that goes for all the world. Well, the
financial strtngency has affected the
automobile industry, at least in a de
gree, and this must later affect cotton
especially the long staples" Anc
why? Because the auto mans trou
bles have been passed along to the
tire makers and these have promptly
cancelled large orders for cottor
fabrics.
st. Louis Wool Prices
A little wool is f1ltering into st
Louis right along. What is st. Louis
paying for wool? Note the lates'
prices: For Nebraska, Minnesota
Iowa, Dakotas and similar woods
bright mediums. 20 cents; dark med
iums, 20 cents; slight bury, Fl cents
For No. 1 tubwashed. 40 cents, and fol
No. 2 tubwashed, 80 cents per pound.
Well might the secretary Of the Ma
tional Clothlers association have said
1.-The cost Of the raw wool in a suit
gentlemen, is neglible, and need no
be taken 1 to account in the cost o
fabric or Of manufactured clothing. I
Is the labor cost and the selling cos
and the overhead, all down the line
No Panlcky Declines.
Few are expecting and none are de
string panicky declines. Until produc
ton is speeded up and there are good
enough to go round and. a surplus tt
spare at reasonable fis1i es no grea
break in prces can be anticipated
What we all desire is goods sold at
reasonable profit, not at loss. from
the raw material to the finished pro
duct, this applying to every article o
Use and wear, from building materia
and furniture to baby shoes and mill
--.ssxnz.z.rzzz.zs