The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1921-06-16

with the formation of the Mon
tana Wool Acceptance company, an
nouncement of which was given in
the press on a recent date, the wool
growers of the state feel that they
now have a means of financing them
selves through their own banks and
will not be forced into the hands of
eastern wool spectators whose OPP
erations during the past few years
have been to the detriment of the
wool grower" said H. H. Pigott, sec
rotary of the company and of the
W~oolgrowers' association.
1.-THE sheep man has always felt
that, being forced to consign his wool
to agencies who both bought woods
of their own and also handled woods
of others on consignment, his inter
est was placed in a very ~precarious
situation as there was too much in
ducement to handle his wool to the
advantage of the w%oolhouse and to
his own loss. No matter how honor
able the wool merchant might be,
still his selfish interest conflicts with
that of his customer who lives 1900
miles away; there was no supervision
Of his action; and the strain in many
cases might be too great to insure
perfectly fair and honest treatment.
"Many instances are known where
the result was a loss to the western
w%oolgrower.
Viciousness of Former System
Another vicious part of the pre-
vailing system has been in the matter
of accepting advances from the wool
+, oroI, mic Thfc n1oanc fho hcnlIfn
control of the wool in the hands of
the eastern wool merchant, who, if
pressed by his bank to meet his obli-
cations, would be very prone to offer
the woolgrower's clip IN the market
at any price it might readily COM
mand, as the wool merchants remun-
Grafton is based on the quantity sold
and not the amount realized. Bad
from this system have been
coming up, particularly on consign-
ments made during 1920.
Take Control From Spectator
ITO obviate these difficulties and
to take the control of the wool out
the hands of spectators, and of
those whose interests are not identi-
cal with those of the wool grower,
the Montana Wool Growers Accept
ance company has been formed head
ed by responsible Montana bankers
and woolgrowers and closely asso-
with the Montana Wool Grow
ers' association itself-the officers
being somewhat intermingled and the
of the companies working
IN perfect harmony.
"These companies, formed for the
~ rA+nnftA- ~ nr-1-+a- 10 &c +I1 49, |
grower, have both entered into agree
ments with the National Wool Ware
house and Storage company of Bos-
ton and Chicago for the proper stor
ing, handling and disposal of the
wool. The dictation as to when and
what price it shall be sold for is al
ways to rest and remain in the wool
committees of the two Montana wool
Institutions.
How Grower Is Protected
"As the grower draws through his
ocal bank on the Acceptance COM
there is no wool merchant who J
an dictate to him that his wool must !
,e sold because the grower owes :
money On it. AS the National Wool .
and Storage company !
loes not buy wool, handles. none of :
is own, and is owned by the western !
WOOL growers themselves, there is no :
nducement on its part to do other '
han handle the wool to the best pos '
ible advantage for the wool grower !
nd obtain for him the very highest !
market price obtainable. There is :
o dictation on the part of the eastern :
dollhouse, and it eliminates any in
ucement for dumping the wool on
he market at any sacrifice price at :
he whim of the wool merchant. =
Devious Ways of Speculation +
"Quite a number of woods of the E