Show PROPOSED SYSTEM OF WOOL MARKETING pool plan in letter to utah growers the following letter explanatory of 0 the pool of the 1921 clip of wool in utah was sent hent recently to upwards or of 1000 growers in the state producers of ampro approximately pounds of wool by tho the utah state farm bureau and the utah association which are fostering tile movement for a considerable timo time it has been very evident to the wool growers a of this state that some operative cooperative co scheme of 0 marketing the ool should bo be devised and put in operation in order to secure for the individual grower the highest market price attainable tai for his product the situation has become so acute as to require immediate action it if the wool growers of oc utah are arc to ito get a fair market price for their wool wo ire aro convinced that by operation cooperation co the wool of the state can call be marketed so as to receive its reason reasonable ble market value in other words the price or 0 the wool can be 11 made ade to depend upon its class and value under market condit conditions lons rathor rather than the ability of the individual grower to make a fair sale A great effort is now being put forth as you no doubt are aware by at least a few wool speculators speculator sto to retrieve the losses sustained through the recent decline having become convinced that unless sonic some method or plan was adopted by which the wool growers would operate cooperate co in the sale of their product a great loss would vou I 1 d bo be sustained and further realizing that unless in some instances immediato immediate relief is had some of the growers face almost complete ruin the utah state farm burau and the utah Wool growers association have operated cooperated co together in the organization of a wool marketing committee it is proposed to place in the hands of this committee the wool of the state with power to sell and generally handle tho the same tor forthe ithe grower this committee having possession of such a largo large amount of wool would be enabled to negotiate loans upon the warehouse receipts issued for the same and thus secure needed funds to relieve the immediate necessities of the individual under the plan as suggested it is proposed that the individual grower will deliver to the committee his wool with full authority to ship sell an and d g generally ene rally handle the same in all respects as the grower could or might himself do the wool will be received by the committee at the loading point of the grower and shipped to a suitable bonded warehouse where it will bo be held pending satisfactory sillo at tho point of loading when the wool is received by the committee a temporary advance will be made to those requiring the same sufficient to cover the expenses of shearing transportation and loading tho the same upon the cars when the wool has been received at tile the warehouse it is intended to take tho warehouse receipt issued and using such warehouse receipt as collateral security to the note of the individual grower secure loans thereon from banks either within or without this state when this loan is made the actual expenses incurred will bo be doduc tedas well as the temporary loans above referred refe ired to and the balance remitted to the grower immediate funds will thereby bo be secured to the extent of a loan based upon the reasonable value of the wool so delivered this committee has been coil designated as the wool marketing committee of the utah state farm bureau and nd is composed of the following individuals divi duals who have been appointed jointly by such farm bureau and tile the utah Wool growers association D D mckay president of the utah state farm budeau 1 ui call huntsville W IN armstrong president of the national copper bank A P bigelow cashier ogden state bank at 11 S marriott marriott U T jones cedar city W D candland mt it pleasant Ples allt george austin salt lake city we have been wo we consider very fortunate foit in securing the services of men of the standing represented in this committee these men have been induced to accept the ithe great responsibility and labor of solving upon this committee and havo have consented to do so without compensation and purely from a sense of duty and desire to help hell an industry which is now low in ill mo 1 io or less distress tho tb situation leq ulies concerted immediato and careful action on tile the part of tho the grower and the committee the men serving will serve you as they would serve themselves and that service can bo be obtained without tho the expenditure of other than the actual and necessary expenses needed to carry on the work the bonded warehouses uses in which this wool will be stor stored ed will be inspected and checked by tho the united states government monthly and every precaution will be taken by the ithe committee to safeguard the interests of the grower and secure for him the highest possible net return for his wool the general e expenses of handling the wool exclusive of freight will be approximately the rates heretofore charged by established warehousing companies information concerning the plan is being sent out to the banks of the state late by the utah bankers association so that your local babir will be in possession of further details there is being mailed to your county agent copies of the agreement or power of attorney under which the committee proposes to handlo handle the wool and you should call at his office and the office of the utah state Wool growers association and get a copy of tile the same and properly execute and return it to the committee mccornick bank building salt lako lake city utah |