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Wool And Its Prospects At Home And Abroad

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During the past week speculation as to 10 prospect of wool, and of tlio coming woo) clip bas been vcry rife. If wc have )ecn asked onco wliat we thought ahout wool, we hitve been asked the same, quesion more than somo hundreds of times. Vlmost evory man we meet in the streets 'rom the couutry wants to koow " how wool looks." ïliero have boen some imlortant sales during the present week. - We know of one sale of a lot of very hoico floeces of 1,500 lbs, from Oakland ounty, at COc, and another lot of the ame superior quality of 1,700, lbs, from Washtenaw, at the same ratos. Novv, hese lüts are old woo], and for manu'acturing purposes worth from 5l0c uore pr. ft than any newly clipped wool f the same quality. We ara also in eceipt of ioformation from various quarers, iudicating that the wool men, that s the manufacturera, are more thau usually reticeut in their issue of comniissious. Very few partios in this state as yet have reeeived either orders or noney upon which they can vonture to mnounbe that they will make purehases. Most of the orders reeeived in this State 'rom the East are limited to 50c, a rato hat we consider at the present timo as oo low. From all advices that we can at present have cominand of, wool ought to briug during the month of Juuo somewhere between 50ï60c, and in reality wool ought to briug at the opening of the market for the new wool clip at least 55e. Wool growers ought not to be in a hurry o rush their clip iuto rnarket. ïhe wool buyers are begioning at the lowest )oint. Let them wait. Therc are a luuiber of elements at woik which will end to affect prices, and which prevent us ac this tiine from arriving at what night be esteemed any definite and cíbc opinión upon the wool market for he coming year. These eleuicuts may jc cnuiuei-ated as follows : 1. The preseut oonditiou of manufac■úrers. 2. The amount of old wool on hand. 0. Tbe supply of ootlou and the prosects o! a supply of that article. 4. The progrese of war. 5. The increased production of wool tself. 1. The present condilion of the manufacurers. 2. The supply of icool on hand. Froin all the information obbiinable elative to tho stock of wool in the hands of manufaeturers, we are obliged lo come o the conclusión that the supply of old voül on hand cannot possibly keep tho nills. running longer than July, and that should targo aruiy orders be issued for he clothiug and fitting out of any great íuniber of the now levies which will be aised by the draft that must go into operation by the first of July, at the latest, thero would inevitably be a suddeu and imperious demaud for the new clip, whioh would hav-e a tendeney to raise he pi'iee. The Boston Commercial Buletin says : ''■ Nest.fáH will, undoubtedly, wituess a heavy consumption of this staple, and very likely a large speculativo demaüd ?or the inve.-tment of surplus capital." Tell, Rnmpt & Kitching, in their oir cular for June, say : " Tho stock of both fleece and pulled has beeome very light in New York, but there is moro in Boston, wiiich is cousidered soarcely suffi otent, however, for the time whioh wil accriie before tho new clip can be used.' These statements iudicaío that it will be for the interest of the wool-growér to hold oü and uot hurry his wool to marke early. The condition of the manufaeturers i good, Most ot' the stocks of goods 'ia tho hands of jobbers ,'aud Goinmisstoi rherbbants have been vvorked off and the Boston Shippiug List claims ': thafc tbc stoek of clothes on hand is entircly inadequuto fór a moderato cousumption during the eoming season." ïho gaoio journal adds further, " If then au activo de:nand sliould set in witbiñ thirty days, pnces ot' goode must inovitably rise, and perhaps to t&e high prices of January and February, and continuo till cotton declincd to such a pnce as would justify our mili owaers in starting up their works. o. The supply of collón. - It is well uuderstood that if the supply of cottcn should bocome so graat that the prioe of th is staplo must decline belovv 50 cents, it wonld, as a matter .of course, affect the price of yoollen fabrics, and necessarily causo a decline in the price of the raw material. Novv the gupply ol colton at New Orleans is increasinüt overy day. The success qi Gen. Banks in drivipg tlie rebels out of all that sectian of Louisiana west of tbe Mississippi and south ot the ilcd Kivcr, as permitted the larga ootton erop of tlio ast two years tu be sent furward for aio. Already seven thousaud balts, or about thrce millions of pounds have reaehed the markets of the Crescent City, although the country has not been (i-eed from the rebel doinination for a .ünii.h. Muoh hrgor amouuts are coming i'orward from the santé seotion. Again, the fiill of Vieksburg and Port Hudsoo, eveuts whieh are unquestionably certain to oecur witbin the moiith of June, will open up a larffi scetion of cotton growiBg country in Wiwissippí and AÍabaina, which will avail tlumselves of uil opportunities to Bend thüir crops to market, and thuá deercase the value of cotton, and, as 8 coiiseqnence will likewise teud to deprecíate the price of vvaol. 4. 'Jhe progress of the ivur. - ■ The events of the are soniewhat átatterthin, and the bost luid plans " _' men aod mice Ai; gang aglee." liut thorc is a principie that is now well understood by all, that tho general pro gress of the war is tendiug to complete succbïs in cruihing out the rebels. - Were it otherwisc, we should seegold fluotufttjng, and foreigu exobajDge advanciug. ihould tlie Mississippi be opencd during the Diontb, and Roseerans, who is now moving against Bragg, be sucoessful iu holding Northern Alabama, and crowding the rebelliou iuto Virgiuia, the Carolinas and Georgia, we should soe our exporta alinost equaliug our imports, gold ducliiiiug and with it foroign cxchango. As a conseqnenee, values would aller here, and wc might nuturally look for a declino in vvool. We are not oertain, however, that vvool for tlus ycar cou'd be affeoted in that way. This state of thiugs wiuld most certainly tend to prevent wool froni reaehing any such ates üs ruled last winter, aud therefore ny extraordinary advance may uot be ooked for. 5. The increased production of Wool. - The clip of 186Ü will be larger at least )y 30 por cent. than auy erop of wool bat has over been produeed in the United States. It is not knowu what the effect f this great additiou will be. The wholo erop of the Uuited States in 1860 vas reported at only sixty millions of lounds. Theu the wool erop of Michigan was but a little over four millions oí ounds. Lafit ycar we kuow the wool lip of Michigan was over sis and a half millious of pojmds, and we feel uure that bis year it will reaeh fully eight tnillious. We feel certain that the great wool prolueing States, though possibly not doubing thcir produce since 1860 as Michigan has done, yet that it has largely inereased, aud the whole clip of the loyal otates will reach fully ninety miilious of )ounds. Now, ií with the demand there ías boen to supply the armies of the Jnited States with cverything. from slankets up, the supply. could be kept good during the past two years, we raoy easily eonsider that with a larger clip han ever before by at least the addition of a fifth in quantity,-we eannot look for exhorbiaut pricos, nor for auy great advaucd'duriiig the coming season over the ates that 'ave now ruling. There are two or three other causes which might be citod with groatforce, to jrove to our readers and the wool-growers of the State, that the extraordinary jricea realized for a short time, previous ;o the settlemeut of the finaneial policy of the country by Congress, cannot again je expected, and that whilst tlie views of buyersmay notaltogether coincide with those of the woolgrowere, it is right that the latter should uot be so iuflated with 'alse notions as to suppose they can forcé ■utos higher than actual consuinption of the cotumodity will bear.


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Michigan Argus