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Show FINANCING OF WOOL CROP IS NOW BEING EXPLAINED Y J. Ilngonlmrth, president, nnd P. I? Mnrshall, the secretary of Ihe Nn-tional Nn-tional Woolgrowers nwocintion, nro jirewnngn circular letter to nil mem liors of tho association, explaining tho now methods accepted for financing Ihe wikiI crop this car nnd the mMi-bility mMi-bility of securing ndvnnco moneys on unsold wool through the uc of "nc-ceitancea." "nc-ceitancea." Theso nrc based on bills of lading, nnd when tendered by member mem-ber bank, thus bringing new money inln Ihe woolgrowers district. The federal resenc does no more than to place Ihe woolgmwora in n Hnltitm to secure such funds as might ho neeev-anry neeev-anry to meet their obligations nnd operating oxicuses until thi-'r wixils can bo disosod of. The circular (plot oa the statement, already printed, of tho federal reaonc hoanl eoxeriug Ihe latter 'a jioaition in the promise, and llien gives detaileil directions to Ihe grower na lo how lo proceed in aeenring Ihe desired advance. Growers Grow-ers ate cautioned that prevent wool market pondilion are the roeult of a financial devehijmient which cannot he more than twiiMrar.i, and (hen la no real ground for predicting low value. Mem bent of the woolgr ifera aiwoeinliou are H'lvine.1 that if, niter iiroeeeiling along Ihe l.nea imhiatcil, In en da vo ring In Mtcure ihImiich they are iinaueeeiwirul, the are requeued lo oirrwaNind with Seeretan- Marshall. |
