| Show OUTLOOK BRIGHTER BlUGH TER IN WOOL CIRCLES f pren prom deseret NOT news ithe the mission of th tho evl 0 mn men t if cui cut rago eago and nil agen and abir con ference with lodile road rait east aiu eru aker k ors er hill aa devid evidently antly borne bome fruit bud and intermountain wool grower growers will I 1 abo good 1 reason to feel hopeful with jut exi of better time agent J A hooper of the NA aronal 00 oo ool warehouse Na are houe storage com vany in till this ayt bar hall received a wire ire aroi george amitin en on loute home from the confere conference neto stating the tito federal bearl wilt finance wool ul on oil bill bills of lading or warehouse receipt receipts through th roul ineal rr er banks tl TI e v I 1 ank anks shout I 1 a danee not less lo 10 30 to 40 cent cents wool i arices rite not fal tito rin austin brother brothers ari are in tri ft a litter wate I 1 june 21 from the na a tonal ool t 30 storage fw rout at Chi chicago callot saving 0 cioe viv lie have the advantages luh antose truing to icam 1 awa wool dol growers from the r wool through till this company last giessm whereby actual alie alies bierd obtained for the grovier the th bankers having baliti ba viti volunteered el to cooperate ly baning loan money birett to tile ali fanner on wool consigned cont ened to ue us thi thin resulted in obtaining for uie the grower an aver liver ago age of 10 to 13 11 cente i or 1 ouia alore for his lil clip than he could have ha ob oil paluel by selling locally ant an I 1 li in re in iowa aerol several floii aiani dollar thai boyll I 1 oth I 1 lao a e follo lel 1 the tit speculator out of tie rotate 11 I 1 the tho are bouic ani ant Rt orate tom torn barly laay lusted last friday a circular tir cular nit not only mr air lut but other wool luen lore twilene will attract kentrat attention quick plans Necess necessity aty referring to stagnant agnant at eon con olit ions the circular bayst aye eon con a quick working llan ilan ly which the wn business oa 01 as a whole cent coull I 1 ie be protected and market 1 knablin en ablin 7 wool kool to be lured stored ind tind mad vind callable aaU mal able lable ilk ibe ajnar market et demand in ft at norin il way A request rUi it wa as giantel by br the federal vestre 1 loard oard nt at tor for a a ng annile Af nile june 21 which avas attend tit by wool grower gro ners bankers la lit JA wool i ool I 1 reducing mett lons buyer ware tik n manufacturer ani ant ether other I 1 parties the following viba a agree 1 to bv th fed led aral reserve board aa wool grower groer ny inay ship his hi woot to one of the raial point of dis tribu tion obtaining from front the railroad tall road a bill of lading for the shipment hip ment the grower may inay then hen draw ft a draft against his batik for uch such its amount as may be agreed uj ilion OB by toy the tile grower end and the lank banki secured cc urel liy by the bill of lading the federal reserve act authorizes any say member bank to accept a art se e cured in jn this manner at the time of acceptance provided that the draft tria mature tures in not more than alz six month months from date of steel aele gariet after at cop tance uch such a draft bearing the la in lore dore ement of a member bank ie to lilo tie for rediscount or purchase pur chaje by a federal reserve bank provided that tt it ha has a maturity of not anoro than three from the date of redl redis of 11 an all an tan illustration of financing floan cing A wool dot shipment thip ment upon an acceptance as sug a by the board would be about as a follow follows the customer cui tomer owning the wool will arrange with his hi banker as to the amount the banker Is willin willing 1 to vance against the wool the wool I to be b free or of delcue to be obtained for mortgage or any other lien the owner will determine to what warehouse he desire to hip ship then load his hi wool and obtain bill of jallag II 11 its will next draw a draft against his hi local bank for the amount agreed upon as a an advance this draft may be 1 ay ar able within adv period up to six months from date but can not lie be ra to discounted at the federal reserve bank it maturity Is beyond ninety day days from date the banker will ill then ac ae capt the draft ty I 1 y writing the word accepted across aero its it face oer over the signature grature gna ture of some official of the bank und and will the bill of lading to the draft ae as collateral the banker will then malie make the pro coeds available at it whatever ef rate fate of discount dit count agreed upon with the maker for the haaker use and the accept tine a in 1 immediately eligible for redl redis count at the federal reserve back bank |
