Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-06-29
(Trjbune's Helena Rureau.)

Helena, June 2S.-In view of the lull
In the purchase by eastern buyers of
the wool clips OF Montana in the face
of a great shortage in the worlds sup
ply and taking the stand that the wool
houses are making the tariff posslbill-
ties a bugaboo with which TO scare the
wool grower in the acceptance of lower
prices. the Montana Wool Growers as
ISOLATION has just issued "A circular di-
rected to the wool men of the state.
In this it says that in connection
with the apparent hesitancy on the part
of buyers at the present moment, which
they allege is due to tariff uncertainty,
shutting down of mills, strikes and sun
dry other causes, it is interesting to
note the opinions expressed by leading
men in the wool trade who have until
recently operated extensively in wool
producing states and have acquired
large tonnages of wool.
1t then quotes from the Daily News
Record New York;. issue of June Is,
the following interviews at Boston with
Albert W. Elliott of Jeremiah Williams
& Co. and F. r. Ellington of Ellington
& Co. as follows:
There is nothing so very strange or
III dpi hpouL luC blNNNht Situh-
ton said Albert w. Elliott of Jere-
miah Williams & Co. "Of course.
there has been considerable speculation.
which helped to make prices advance a
bit more rapidly. hut after all it is a
ease of supply and demand. There is
a world shortage of fine woods and it
will be recalled that the first advances
were on these woods. The demand for
them was big and the supply limited.
When these woods were found to be diff
ficult to obtain. naturally attention was
turned to lower woods m then prices
began to advance on these also. The
tariff has had an important bearing on
the situation. but again it was a case
of supply and demand. Wool men
and mill men. not knowing when the
permanent tariff would be passed. but
knowing that they must nave woods to
keep the mills going. went after the
stocks available in this country. The
supply provided by growers in America
Is about one-third of the normal re-
quirements Of our mills. and naturally
prices started upward when the COM
petition for available woods became
lctive. 1t has been said that mills have
been buying for future requirements
rather than for immediate and present
needs, but hat is the way they always
buy. Surely it canno be said that
mills were buying wool on the Sleeps
back for present needs. Mills have al
ways bought for several months ahead.
but | don't believe they are over-sup-
piled at this time and | don't think
the average mill has more than a
three months supply. All these ele-
mpnts nave entered into the situation.
but when it is all boiled down it is
purely a question of supply and de-
mand."
F.. r. Ellington Of Ellington & Co.
Inc. commenting on the situation. said:
"The advance in wool prices was not
n surprise to close followers Of the
situations existing in the markets of
the world. 1t was predicted several
months ago that woods would advance,
though they have gone n bit higher
than most people expected. When You
consider that American mills must get
two-thirds of their wool supplies from
foreign markets and that the high rates
Df the emergency tariff have kept the
bulk of these woods in bond and slowed
down operations of American buyers
in foreign markets it was only natural
that the demand for the limited supply
of woods in America would result in an
advance in prices.
prices have advanced in foreign
markets quite steadily. in spite Of the
fact that American buyers have not
been so active as in other wears. They
would have gone still higher if Amer
leans had been more active. This mar
ket was never so bare of woods as
It was up until the domestic clips
began TO come in. There is an increas-
ing demand for wool and a shortage
of supplies. which necessarily makes
for higher prices. II seems to be just
n case of SUNNY and demand couplpd
of course. with such factors as the
tariff, some speculation and the desire
of domestic growers. who we're placed
In a very strong position simply be-
cause of the eagerness of dealers and