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Wool image
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Bopton - The prominont feature of tlio market, for the past. week, has been the grent aotivny in foreign wool The mnveni'iit in tliis staple forsevcral weeka Jiast has heen quite extensivo, as manufacturero hnve fnund it to their interest to suhstitute it largely for the domestic rtie.le; and as sticks of the tiner qualitivbive lately becotue much reduced, tliO prpeet. of a siarcity, as well as the gpnpraf exhaustion of supplies in the hanHs of cnnuniT8, induced the latter to enter the market, and, by opcrating in compptition, to sweep it almost en tirely bnre of the higher grades. Partios engaged in tho foreign wool trade, hnwever, have lately been doinga rery larg" and f;:irly profitable business, and wil) strain every nerve to meet the wants of consumera upon terms which will, as far as practicable, exclude doïnestic computition. The domestic wool market bas been very quiet, and must remain so as long as uianufacturer's continue to enipioy their machinery to a large exteut with the foreign s'aple. Yet there is but little or no aecumulation of stocks of the fornier, holders are quite finn ind prices nominnlly unchanged. Keceipts from tho wool growing districts continue very light; and wliile the supply isprincipally held in those locaüties at prices which nfford littl( or lo margin for profit to the buyer, there can really be no concessions made on the part of the eastern dealers to their customors. It is quite out of the question for them to scll fine Western fine fieece at 65c, vthen it eau scarcely be bought for that in auy quautity on tlie spot where it is grown, and it is probable they are selling cheaper now thári they can afl'urd to after the balance of the cFip i bou'ht up. In the ftice of the fact that manufas turer ane now tu-raing their atteution chieHy te foi'eign wools, our domestic growers all over the country are holding their stocks very firmly, and it is proba ble that many of them will hold over unles their terms are acceded to. They are well aware that the consuinption is (nnd must continue to be iu the absence of eottun) enormous, that the woolen goods market is very active at round prices, aud henee their deterniinatiou to pursue a policy this year (for the first time as they allege) which shall compel tlie rnanufaclurer to 8 hare the proñts of the business with them. Easteru ageuts, finding this to be the settled policy, have lately manifested a greater disposition to come to terms, and are now offering a slight advance (say 62a63c for the best fleeces) without securing much, however, as most holders are demauding 65c. The gales of domestic for the week will not exceed 250,000 tbs, at a range of 63a75c fr fleece, the outside figure for choice lots, and Ö5a87c for the varicus grades of pulled. In foreign, the ales foot up soine 2,800 or 3,000 bales of Mediterranean, African and South Americau, principally Cape and Mestiza, at a range of 33a37c for the former, and 58u32e for the latter, which is an improvement. Included are several lots of Canada at 5a65 ; 16,000 fbs washed African al 92c ; aud 75,000 Ibs Medittjrraneao card pet wool on privato terms.


Old News
Michigan Argus