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Show JERICHO WOOL CLIPJS SOLD UTAH'S BIG HOLDINGS CHANGE OWNERSHIP AT 34J2 CENTS A POUND Rumor Of Storage To Wait For Higher High-er Prices Proves Without Basis. 1926 Clip Still Below The 1925 Production Salt Lake City. Utah's famous wool j clip the Jerico, said to be the largest pool of high-grade wools in the United States was sold Monday to the B. Harris Wool company for 34 cents, it was announced by Marcus Harris, vice president of the purchasing company, com-pany, who negotiated the deal with the committee representing the Fountain Foun-tain Green sheepmen. This sale was unexpected, for just a few days ago word was passed arouud in Salt Lake-wool Lake-wool circles that Jericho was planning to ship to Salt Lake and store, anticipating antici-pating a market above that existing now. At one time it was said Jericho was contemplating - holding for 40 cents. The 1926 Jericho clip is expected to amount tq approximately 800,000 lbs. This is but- an estimate, for about seven days' shearing remain before the men at the Jericho corral. Opinions Opin-ions of wool specialists is that the Jericho' clip this year is one of the best ever assembled by the Fountain Green sheepmen. It is in good condition, con-dition, of fine texture and of the choices star'e. At 800,000 pounds the 1923 Jericho is somewhat, below that of the 1925 clip. Last year the Jericho pool rejected re-jected all contract offers prior to shearing and elected to store in Salt Lake. At the time of sale, which was late in the ser.son, the clip amounted to approximately 1,000,000 pounds. Each year woolmen of the range states and the trade at Boston watch with interest developments at the Jericho corral, for that clip is one of the "key" aggregations of choice wools that work toward pstnhlishinsr a domestic market figure. Salt of the Jericho means that approximately ap-proximately 50 per cent of this year's Utah clip has passed from the hands of the producer. For the most part, the price has been around 35 cents. The Vernal and Uintah basin wools were the first to go, bringing 34 cents for the bulk and 35 cents for the finer grade. The transactions in the Uintah basin opened the spring buying activity and spotted buyir-g j followed in all sections of the state. |