New-York tribune., 1921-06-12


new clip, shearing having become ge
Another element which enters into
the situation is the duty on imported
wool provided by the emergency tariff
bill. What it's effect on domestic sup
plies and prices will be is being await
ed with keen interest SO far it has
served only to increase imports great
ly in the few weeks before it became
effective.
Figures recently compiled indicate
that there is a plentiful supply of the
raw material throughout the world
With the new clip in hand it is csti-
mated that the supply in the United
States next month will be S25, ,0OO,000
pounds The normal annual consump-
tior Of this country is about $50, 100000
pounds, so that the prospective July
stock will be sufficient for about year
and half 1t is pointed out, however,
that a substantial reserve supply must
be maintained at all times to enable
buyers to make selections of grade and
quality This amount has been esti
mated at 4O0,O00oo0 pounds, so the
situation from the growers point of
view is not so doubtful as might seem
at first plance.
~. S. Stocks on Hand
The governments quarterly report
on wool stocks issued during the week
is interesting in this connection. 1t
showed 244516 900 pounds held by
dealers, 223 ,777 held by manufacturers
and 81 ,094 900 held by the government,
a total of 519,387 900 pounds held on
March 81. Stocks held at interior
points, together with the new clip,
will probably exceed 400,000,00o pounds
and imports since the governments re-
port was compiled may be estimated at
00000,000 pounds. Allowing for
domestic consumption of 120,000,000
rounds since March 81, it would seem
that supplies on hand at the end of
the month in the United States would
be nearer 900,000,000 pounds than
825 100000.
Reports from the woolen goods trade
indicate a more nearly normal con-
sumption, and it is probable that the
surplus will be gradually worked off.
Outside of the United States SIM
liar condition is found, and it is not
just clear now soon return to normal
can be expected in these quarters.
Auction sales in London and Auckland
New Zealand, in the last few days have
indicated firm price tone and broaden
ing interest. On one day at the latter
sale, for instance, buyers took 4,500 of
1900 bales offered at firm prices, and
it was said that competition was keen
Many obstacles have been overcome
by Australian growers in the last year,
as result of the surplus accumulated
under government control during the
war, and it is believed that the situa-
ton is gradually clearing under the
direction of the British Australian
Wool Realization Association. This
ago when the situation looked des-
perate.
argentine Situation
The situation in Argentina is de-
scribed thus by Consul General w,
Henry Robertson, Buenos Ayres:
although it is impossible to obtain
absolutely reliable estimates on the
stock OF wool in this country at any
time, on account of the difficulty in
estimating the stock on the farms in
the interior, the prevailing opinion
seems to be that existing stocks are
around l25,0G0 metric tons (about 3d.
625 900 pounds). OF this amount about
20 per cent is believed to be high
grade wool, which consists of merno
and fine erossbred; about so per cent
medium grade wool, which consists of
fine and medium crossbred, and about
sc per cent low-grade wool, which con
sists of medium and coarse crossbred.
Of the latter class possibly 10000 tons
are what is known as "carbonizing
WOOL" wool which is so full of burs
and other foreign substances as to
have no market in the United States.
"No very definite plans are in view
for marketing the present surplus.
Favorable terms, extending to two
years credit, have been offered to Eu-
ropean buyers, but these terms have
brought nos response except, perhaps,
from the Belgians, it being rumored
that 4 syndicate of Belgian firms is at
present treating with Bahia Blanca
wool 4ealers with view to the pur-
chase of several thousand tons on the
above mentioned terms of credit, it sun
posedly being the idea Of the Belgian
purchasers to reestablish the once i'm
portant Antwerp market. Local wool
shippers, however, express doubt that
this operation will be effected
"The Argentine Confederation of
Commerce, Industry and Production is
considering the creation OF a central