, 1924-04-10

INDICATED FROM
STUDY OF SUPPLY

Those interests in Wyoming and
the western states in general which
have wool to dispose Of. or which
will have wool to dispose OF during
tho year 1924 will DO much interest
cd in . study Of the world supply OF
wool. No moro accurate forecast Of
wool price can be found than that
resulting from . study Of supplies
In tho broadest possible sense
The following excerpt from the
Daily News Record Of New York. in
dicates very clearly that those having
wool to sell arc in . much better
position than thoss having wool to
buy:
Boston. March -. - Just whore
manufacturers are to get all the wool
needed for future operations. 10 ono
Of the serious problems with which
they are likely to be confronted in
tho near future. Continued high
prices abroad and tho renewal Of the
outward movement. Of foreign bond
- Wools are among the important
factors that must be taken into &C.
count In considering this problem,
but they are BY NO 9 the only
ones. The end OF the active auction
o0S3Ou IN AVbtSOIb1b tuOuBu ~ ASo
been In plain sight for weeks. some
effect on tho wool trade and menu
facturerp, alike. It Is certain that
there has been no sustained and con-
sistent effort to secure for tho use
OF tho American mills An ample sup
ply Of wool from the various primary
markets, . fact that IL likely to be-
come more and more prominent -
the season advances.
It IL probable that the fact that the
domestic clip 10 ready to be shorn.
and some Of It has already been mar
keted. has been unduly magniaed In
calculations - to the covering OF
future needs. Those in closest touch
with tho foreign situation say that
the season has gone too far to allow
,no retrieving of whatever error may
have been made in buying wool In
the Antipodes. 1t Il common talk on
the Street that some large users CT
wool refused to play the game as
the cards were dealth'' In Australia
and New Zealand. and are now find
Ing that the error was a costly
1t has been patent from he begin
ming of the reason in those countries
that al I~recedepts were being uni
versaliy t.sre garded. and that the
wiseacres were being c~onfounded by
the way that prices were moving up
ward. while al; the time the oracles
Indicated q swing Of values In the
sao0ssttesAtrec:soA.~ Among b least
OF the penalties impOsed for b blum
der made In this matter has been the
forced purchase OF wool In distribut-
Ing markets al higher prices than
were current In primary markets
earlier.
Wooi "sqaeczc" Thought Possible
Tine, alone. can prove whether the
POSITION now taken by some OF the
experts in regard to the future posi-
ton Of wool. IL correct or not. II 10
certain that there Is a growing feel
ing that there will be a squeeze In
wool during tho coming summer. OF
course. much depends on whether the
demand deveiopes to n normal degree
It has not yet done so. mol Is there
any Immediate prospect of the ex-
pected ifnpi ovoment. judging from
the signs TO be read on the market
hoYison. Manufacturers are not will
considerable extent-not even to the
extsnt usual in moderately sue
esssful goods season.
Apparently. Il does not take much
to brighten them out OF . buying
mood. Perhaps. this 10 n0t strange.
but many are saying that . change
has come over the textile Industry In
recent years. There II NO longer the
opportunity for calculating Tor
mouths In advance. Just what the
goods trade will buy. and Just what
WOOL stocks will b needed to cover.
requirements. and Just THAT volume
Il will b. safe to buy. Depends
billy va formerly taken for
granted In the relations between
manufacturers aud distributors and
consumers Of goods. II 10 10 NO long
er. An element Of unccrtAtaty. Who'll
u u~nnecessary. Il IL claimed. hal been
injected into the problem. and the
textile industry 10 finding difficulty In
making the necessary rcadjustments.
There poems 10 be feeling In the
industry hat not only II there
deadly duilnsss In the demand. but
that no one can assure manufactuf-
ere that Q reasonable proportion OF
their orders will 'istick" after the
goods are made. Confusion and un-
certainty rule. where the opposite
sAouid b the fact. Jsst how far
such considssatioas. and others that
might be- specified. have Influenced
manufacturers from placing their
usual volume u orders In foreign pri-
mary markets. 10 moi evident. but Il Il
certain that the end OF the season
dads American purchasers ~ . mini
mum. Moreover. manufacturers are
looking on caimly while the very
woods they Bed are being shipped
abroad.
Isxpasss Have 'lSoshsr Ed9r."
The export movsmeat. - Il 10 go
taS on today. has . double edge. Not
Only are woods suitable for domestic
use being taken away from msuufse-
turers. but Il 10 also true that lots
which we're sAipeeA here on consisn-