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Show p.v THE INSPECTOR WASHINGTON, July 7. Wool Kg I growers of the west now know what I the cotton farmer of the south nuf- m jfcre,i back 111 1914 when the bottom mr1 fell from the price of cotton KL1 "in .Ma JO the pnee of wool dropped Bpi from 86 cents B pound to HO cents, HE and at this low price there was no K! 'takers. Some buyers were offered 10 Wr- ccnta a pound for wool. B' No more enlightening exp rlent e Hi has happened Mnce the Federal Re- Br?iJ serve System was created than Ihlo HpT condition of the wool market. Wool ttf '' ii. ncvei been flnani ad through s ie B' reservi banks, bul through lot i he Jl, wh urn financed the bustnt through Chicago ami Boston banks. 'JJr And right now II all thi busini 9 of the countr were in as bud shape I $i a: m the wool-growing industry, tho I i& nation would be In the throes of one B of the worst panics in its history. The cotton crop of the south Is I - Esl ing f ''''' through the reeei By bai I and cotton is sun aroum: iV eeni.- a pound. For eotton to be sell- IJ ing for more than wool is mon un- 1 usual and the reejKin m probablj to the fact that private capita' has I ,!,' b ii unable to kill both l he ma i ! '- I .'- ol tht In dustr) Conse- ISiii Ciuently two crops is adeiiuatc proof that the Federal Reserve bank) are 3i In some mc.-usuro "panic proof." S-ij AS a result the National Wool I Bel Grower..' association Is In a mad 19 scramble to get the Federal Reserve I3k! Board to taU.- over the financing of IJMj the woo! crop and to get the banks fuSti of Montana, Idaho, Wyoming I'tah, fljjlll Colorado, ,e Sdexlco, Arizona, noith- ern Texas, Iowa, Oklahoma south- neH crn lllnols, Ohio, New York. S". st B21g Virginia and PcnnsyRania, to loa-ii Wwfil ' receipt for k tt rod ool ; As a result of the plan being worked Hii out ni Lhal of getting western banks H'k to finance the v i through ih Fed- 'V eral Reserve hanks, wool grow, is A "' Boston financiers will lose control of -i the wool Industry', and that It will be centered In the west, Just as tho T&i' eastern financiers lo.it control of cotton. Kgiii 1.41st ear cooperative societies Sli vhijipeil about 6.000.000 pounds to 9 Chicago warehouses But eastern (V bankers have refused to loan money r8& I " 00 |