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The Wool Market

The Wool Market image
Parent Issue
Day
28
Month
May
Year
1880
Copyright
Public Domain
OCR Text

Aoothcr week lias passed and still no material changc in the wool roarket. Dealers are holding off, apparenlly confident that prices eau be dsprcsaed still lower, and growers are holding off, ecrually aonfidect that thcy have a good thing must soon cmnmand a botter prioe han now offered. This little game is played annually on the opening of the wool senson, but this year it has been unusually protracted. Very few pales have yet boen reported in this State, not enmigh to foroeast the marki-t. The l'ort Hurou Tiuj oftbe M'ason wa In 'U'.i ij 1 S. M S riborn, of St. Clair. a ,-jbhII !ot of umv lsI i at :i prieo fiuivu i.-iit lo H' nnts :i pomnl tor washftd. Tho Linsirig HcpahlicaQ nays : - " The first wool of tne seasori was broright to this city on Friday morning by James Wilman of' Delhi, There were 252 jounds, and it was purabatfd by 11, A. Lee at 40 cents a pound." A small lot of unwashed was sold at lonia va Tbdrsday last at 28 eentH a pound. The sales of Michigan wóol in the JJoston market last weok were as follows : 50, (JOG Ibs. tino on private teruis, and S.iMMi Ibs. X at 45 cent. The sales, muunting to only 514,00) lha nf all kimls, lioth foroinguana domestic, wero tbosmallest lor mauy yearf. Mosrs. Harding, Martin & (Jo., in thMr last circular suin up the situation, go f'ar as Boston dealers are concerned, as i'ollows : The advicos froiuPcnnsylvaniaand Ohio inihcate that warm woather has led to more or IflM shearing in tbOM irtlttU. and il' the wcather continúes tavor:v)lc tlio clip will bc earlier than nfln:i!. At San Fraocisco tluTe has boen rpiït1 n movoment ana souie 3,0(0,000 or 4,1100,000 Ibfl have bien bought at from 22 " 2Se for eouthern and from 27 to :V2c for northern wool?. One house in tliis city bought 1,500,000 Ibs, a part of wliich was on account of manufacturers. Iu.(Jhioor l'ennsylvaniano prioes can bo kívcb. MBJ oi' the growers still think that thcy will got .r)Hc per lb., and do not ajipear to bo pofte 1 up about Uiu ehanged eondition ofafl'airs. It apprarsto ua that buyers will not be inclined to pay more than 40c per lh. In Georgia sale have been made at 36] (" 37c ; in Louisiana at 35c; in Maine from 'M (" 3Sc, and in Lvcntucky and Missouri from ;'.2 ( 33c per lb. The oety plaoo wiicre new wool ht really f)ienel at n Vranci'co. At all other points the pricos askcd appear to be above die viewn oflmvers, who are pursuing a more connervative course tliis year than fat many years. This will, no doubt, equalize prives before many weeks, and" Kan to general movement all round. A lair range of prices will, no doubt, be sustained through the season, but tin1 extreme viewa that were 80 curren' in the interior íome vi oles nKO have reeeivcd a check from which they are not likely to recover. In referencc to the wool trade in New York tho Comtneicial Bulletin of' SaturdajT says : Business has been ónly moderately active aud the general tune of tlic market. somewhat nonjiual, owing to the natural unsettlcd feeling current nnder xistinu' influences. No one is willing to boy domestic wool as an investment at ruling ratos and under the uocertainty regarding consumption and the manufacturera who appear npon the market cali for only just such quaatity as niay be required by im1 1 n ¦ ' 1 ï ; 1 1 ¦ aml uiguni wmiiH. Trie movement, thereforp, is of an irregular character ; and now and theri to catch a customer holders will shade sjinewhat, but there does not appear to bc any general tendeney to niake concessious ur urge supplies to a sale, and there is nothing to lead to the iniprossioa of general denmralization. Of iurse, tho situation would be pretty bad for any ono conipelled er delermined to realizo, but iostanoes of thi kind are rare.