The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1921-01-13
DECEMBER
NORTH DAKOTA WOOL POOL
BULLETIN

BULLETIN
Continued from preceding page)
all ready provided for, to have the inn
mediate attention of such Marketing
service.
2. That the expense of such a man
be financed through the various Wool
pools and the American Farm Bureau
Federation.
8. That the following cities be des-
ignated for Warehouses with the I'M
derstanding that other cities may be
added from time to time after thor
ough investigation is made and the
wisdom thereof is demonstrated: Chi
cago, Illinois; Columbus, Ohio; Gal
weston, or Houston, Texas; Syracuse,
New York; Lansing, Michigan.
4. That all warehouses to be es-
tablished, be Incorporated and oper-
ated under the Federal Warehouse
Act.
s.. That as soon as plans for the
handling and disposition Of such por-
ton of the 1920 Wool Clip, which has
not all ready been provided for, have
been perfected, immediate steps be
taken towards the formation of Ma
tional centralized system of ware
housing, grading, financing, and sell
ing. This system to provide protec-
ton to the organization by obligating
the producers to consign their wool to
such organization for a period OF not
less than three (3) years.
6. That the Marketing Committee
ascertain the prices at which blan-
kets, auto robes and other wooden fab
RIGS can be manufactured from stocks
of wool now on hand, and capacity
Of such mills, and submit its findings
! to the various state organizations.
Wool Market
It is heart breaking to write of
values on raw material at the pres
ent time. Wool is no exception. AS
matter of fact both raw wool and
wooden goods are in a weaker con-
dition than many other commodities
due to ever increasing accumulations
the world over. Well posted observ-
ers estimate that mills are not run
ming in excess of Is percent or pos
sibly 80 percent of capacity. Govern
ment figures on October 1920 con
sumption of grease wool is 30, $780, 900
lbs. against 69,228, 900 lbs. during the
same month last year. Each month
it has seemed that the bottom must
surely have been reached, yet the fol-
lowing 30 days show new price recess
sions which make necessary new ad-
justments in our idea Of value levels:
There is silver lining in the cloud
nevertheless. First, last week saw
the first large operations in the wool
since the cessation Of buying last
spring. The largest wool paper in
the country writes from Boston that
there has been some buying the last
few days by mill organizations noted
for shrewdness in sensing the turn OF
the. tide. !.
Second, Congress besieged on all
sides by insistant demands for the pro-
lection of the producers Of Agricul-
tural products, is beginning to sit up
and take notice. Although it is
rather doubtful whether an embargo
measure can be put through, it is high
ly probable that bill will 60 through
''normalizing foreign exchange" which
is sure to stiffen the markets most
materially. As such measure would
equalize exchange rates and virtually
give us the tariff protection which
we had before the war.
Third, there has been concerted ac-
ton on the part of retailers to up
hold values until after the holidays.
Trade Journals all agree and repeat
eddy state, that there will be whole
sale slashing Of retail clothing prices
after the first of the year. The buy
ing public is expectantly waiting just
such price cutting and when it be-
comes evident that retailers are will
ing to take their loss with the rest
and sell at genuine replacement val
ues the public will again resume nor
NAL buying operations. A real move
ment Of retail clothing stocks will re-
act in replacement orders with the
manufactures followed by a resump-
ton of the usual and normal activity
in raw wool.
Again we caution consignors to "sit
tight and not rock the boat, there
are better times ahead if we can
weather the present emergency.
Commission House Prices
Some consignors have written in
stating that commission houses are
quoting prices Of 40 cents a pound OH
good fine wool. The officers Of your
organization are keeping fully posted
on just what commission houses are
paying. Under recent date q large
wool commission firm in the North
west quoted the following figures as
the prices they are paying for wool
to one of our officers, who by the way,
has every pound of his wool in the
North Dakota Pool,
Fine and Fine Medium -14-16c
1/2 blood