Boston, the home of the bean and the cod, is also the home of the U. S. wool market. Until six years ago the Boston wool market was catch-as-catch-can. Buyers went west, bought up raw wool, carried it back to Boston warehouses whence it was sold to mills. In 1931, however, a group of woolmen founded a wool tops futures market under the wing of the New York Cotton Exchange. Lately wool prices have slumped as have most other commodities and last week the wool business, still unused to the complexities of a...
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