Wool Warehouse Company (Albuquerque, N.M.)

The Wool Warehouse building was constructed 1928-1929 on First Street NW in Albuquerque, N.M. The building housed offices of the New Mexico Cooperative Wool Marketing Association, Bond-McRae Company (dealers in wool) and the New Mexico-Arizona Wool Warehouse Company (by 1932, simply the Wool Warehouse Company). Frank Bond, merchant, sheep grower and founder of the company Frank Bond & Son in 1883, was president of both Bond-McRae and the Wool Warehouse Company. When he retired in 1936, his son, Franklin Bond, took over these businesses. Although the Wool Warehouse continued to operate until 1972, the marketing association was dissolved by 1961, using cash assets to pay off stockholder shares.

Stock Certificate for New Mexico Co-Operative Wool Marketing Association. (Box 1, Folder 1).

The Wool Warehouse building was constructed 1928-1929 on First Street NW in Albuquerque, N.M. The building housed offices of the New Mexico Cooperative Wool Marketing Association, Bond-McRae Company (dealers in wool) and the New Mexico-Arizona Wool Warehouse Company (by 1932, simply the Wool Warehouse Company). Frank Bond, merchant, sheep grower, and founder of the company Frank Bond and Son in 1883, was president of both Bond-McRae and the Wool Warehouse Company. When he retired in 1936, his son, Franklin Bond, born December 13, 1902, took over these businesses.

The wool industry in New Mexico grew between the two world wars as southwest wool producers responded to a rapid increase in U.S. wool consumption. Production grew to meet the demand and the Bonds' sheep and wool interests profited. Albuquerque became the center of wool processing and distribution in New Mexico. Proximity to the AT and SF Railroad made it an ideal central location for the wool trade. Growers sold their wool and hides through Albuquerque wool dealers such as Bond-McRae, who brokered it on commission to markets in the east. New Mexico's producers used the wool marketing association to enhance their business position. The marketing association utilized the five million pound capacity of the wool warehouse to store wool, hides and pelts until market prices favored sales.

Despite steady demand, wool production began to drop by 1942. New Mexico growers blamed limited access to grazing lands as part of their problem. Although they were producing higher quantities of wool per head of sheep, production could not keep up with demand. Finally, after World War II, the growing availability and popularity of synthetic fabrics spelled the end of wool marketing as a major business enterprise in Albuquerque.

Although the wool warehouse continued to operate until 1972, the marketing association dissolved in 1959, using cash assets to pay off stockholder shares.