, 1925-03-19

a statement here. 1T is evident that
the wool growers in these states ap-
~preciate to the fullest extent the i'm
portance Of the movement and the
economic necessity for a more order
ly marketing Of this useful commod-
ity, than has been possible in the
past 1t also .manifests their con-
fidence in the personnel Of the new
organization, so largely to be respons-
ible for it's success or failure"
Organization and Scope
The organization of the National
Wool exchange was sponsored by
wool growers. wool growers associa-
tons, and many prominent bankers
Interested in the live stock industry.
Prominent Montana bankers attached
their names to a written statement in
which they said. IT this plan Is not
carried out, we are convinced that
the growers Of this state will lose
annually from 3 to s cents a pound
on their WOOL"
In addition to the wool already in
dividually pledged. arrangements
have been made under which the ex-
change will act as sales agent for the
WOO growers cooperative associa-
tons Of Montana. Wyoming, South
Dakota and Iowa. This, in the ag-
gregate. will provide a tonnage OF
wool for the new organization dur
ing the next three years to give to
1t a place Of commanding influence
in the wool trade" said Mr.. Staff,
and the tonnage will be materially
increased through personal solicita-
lions in the near future"
Principal Storage al Boston
The National Wool exchange will
store and market the larger clips in
Boston, where its principal operating
office has been opened. The COM
pany will not build its own ware
houses at this time but will store
with thoroughly modern and feder-
ally licensed warehouses in that city.
A separate department will be main
tanned In Chicago for the handling of
small farm clips which can be the
most economically shipped by local
freight to Chicago, where they will
be assembled. graded and put in
marketable condition to receive the
benefit of carload rates from that
point to the consuming mills. The
number OF such small clips Is stead
lily increasing. and since they cannot
be sold individually at home TO ad-
vantage. they have been concentrated
in large numbers at Chicago and
heretofore handled by the National
Wool Warehouse and Storage COM
pany, netting the owners from 40 to
so per cent in excess of prices OBJ
tainable at home.
Western Headquarters Here
Western headquarters are in Hell
ena. in an office on the ground floor
Of the Placer hotel building. This
office Will be fitted up with wool
exhibits. and provided with official
reports and other information use
'ful to every wool rover The man
agement will employ a sheep and
wool specialist OF national reputa-
ton. whose time will be devoted to
the assisting OF growers In the solu-
ton OF their problems. when he Is
not occupied with the marketing of
wool In Boston. This part of the
work which was carried on by the
National Wool Warehouse and Stor-
age company Was highly appreciated
In past years.. and under the direc-
ton OF the new agency. II will, be x
tended In the future to n larger field
and cover a greater variety of sub
jects Of interest TO every breeder.
In order to meet the needs OF
growers who. for n reason or an
other. may he compelled 10 market
their clips AT shcaring time. the ex-
change will market their clips direct
to the mills from the shcaring pens.
thus assuring to such growers tho
actual market value OF their wool at
| the time OF sale.
Furnish Market Reports
From time TO time ms the facili-
ties OF the exchange permit. II will be
It's aim TO serve the growers In other
ways said Mr.. Stan. "One OF Its
chief purposes will be TO furnish ac-
curate market reports during the
year. and 10 give 10 It's stockholders
such information bearing upon con-
ditions affecting the Industry
throughout the world ~ cannot be
secured through any other source.
THE exchange will not make d.
rect advances 70 it, customers other
than for freight and handling and
storage charges. which will b. de.
Quoted from the proceeds at the time
the wool 10 sold.
F1aaacing ~ Advances
' "In the formation OF the Federal