Word: wool
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...Spot wool prices last week stood at about 83? a Ib., way down from the $1.14 of January. Having piled up excessive inventories as prices rose, woolmen for the past year have been selling ardently, buying cautiously. Both prices and inventories are now down, but so is manufacture of wool goods (currently off about 25%) and therefore all wool buying has been on a hand-to-mouth basis for several months...
Ignoring this obvious reason why present wool sales are few & far between, hard-pressed dealers in Boston and Providence last week suddenly came out flat-footed against the wool tops futures exchange. Not only did they yammer about the 10? price differential between wool tops futures and raw wool, but they claimed that wool tops margins are too low, speculation too rife. The Providence Journal announced that a group of dealers this week will ask the Senate Wool Investigating Committee to suspend trading in wool tops futures. While other wool factions called this "ridiculous," Senator Alva Blanchard Adams of Colorado...
...Total annual world wool production: 3,580,000,000 lbs. World sheep population...
...factories scattered over Italy. Long a rayon producer, Snia Viscosa also markets Snia-fiocco, fibre made from wood pulp (TIME, Nov. 5, 1934). Snia Viscosa's newest concoction is fibre made from milk, which it calls lanital and claims is equal in appearance and quality to wool. Princess Caetani calls herself lanital's "social representative" in the U. S. A familiar milk product is casein, of which in the U. S, alone 46,140,000 pounds were produced last year, mostly for the paper industry. Some 20 years ago a German chemist named Todtenhaupt made a weak wool...
...plans to begin by sending its fibres to the U. S., eventually will build U. S. factories. U. S. representatives are the big New York firm of Meyer & Marks Yarn Co. Inc., whose president, Jack W. Block, likes to assert that lanital will do to the wool business what rayon had done to the silk. U. S. woolmen, absorbed with more immediate troubles (see p. 75) last week produced no retort to this other than the findings year and half ago published in the bulletin of the National Association of Wool Manufacturers by Chief Chemist Von Bergen of the Forstmann...