The New North West

In their circular of July 10th, Justice, Bateman & Co. say the wool market has not improved since the 1st inst., and that Montana wools, usually more popular than the Territorial wools of most other sections, are inquired for on a basis of 12c. for the fine fleeces shrinking 70 per cent., and at 14c. for light, open, medium fleeces, shrinking not over 65 per cent. These prices are entirely below the views of sellers. Manufacturers, on the other hand, keep in view the fact that if wool should be put on the free list, the value of fine Montana shrinking 70 per cent. would be only 10c. on today's basis, and the value of medium Montana shrinking 65 per cent. would be not over 12c. We do not mean to say that Montana wools cannot be sold above these figures today; but with manufacturers wanting to buy on the free wool basis, and sellers wanting to sell on a 45c. basis, their views are wide apart. It is impossible to induce manufacturers to buy ahead of their wants even by moderate concessions, and it is almost impossible to sell Montana fleeces to arrive at their present quoted but nominal value. Sellers are holding Montana wool, under the belief that the radical tariff changes which are proposed will not be realized; many prefer to take the risk of having to accept free wool prices when compelled to do so, rather than to meet the market now at figures which even approach the present free wool basis.