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Show Coupled with the bank failure, the depresssion taxed John K to the limit of endurance. He had experienced the Grover Cleveland financial panic during the 1890 decade, and by sheer good management he found he was able to continue operating throughout the current depression. STEPS TO RECOVERY The National Wool Growers Association gave assistance and encouragement by relaying vital information to the membership each month. An editorial of Doc McClure's read' As a result of credit or legislation under the Hoover program, or a realization that all things it feared might happen have now happened, considerable new confidence in business has appeared. This is reflected in stocks and bonds and in a number of commodities. Wool and lamb have not yet gone into the list of advancing commodities, though the first of the week saw some notable volume sales in Boston. The tariff has excluded material wool imports for some time. This fact, together with strengthening tendencies abroad, must be of value to the domestic clip as the mills start back toward normal volume of output.2 Railroads offered lower passenger rates than ever before, along with reduced freight rates to the Ram Sale consignors. The magazine carried ads of rates by the Southern Pacific from California and Nevada; the Union Pacific from Montana, Idaho, Utah, Wyoming, and Texas; the D&RG from Colorado, and 3 the Western Pacific from Nevada and California, 211 |