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Boston Wool Market

Boston Wool Market image
Parent Issue
Day
16
Month
June
Year
1865
Copyright
Public Domain
OCR Text

The wool m:;rket Las been rather quiet, aud the busiaess, of the week cxhibits a falling ofl both in volume and pricea as compared with tbat of tbe previous. Witb gold and the foroign staple stiffeuing up, hosvever, thero is a bettcr feeiing and inquiry &t the close, and holders are leas iuolioed lo couoede. They are, for the most part, freo soliera at regular rates, as usual towarda the close oí' the season, sinoe it is desirablo to close out, as nearly as may be, the balance of the old clip in order to facilítate tbe movemeut of the ncw. Consumera should realizo the expediency of co-operating with them in this respect ; though, as a general thing, the latter are governed in their purchasiafi policy by the extent aud pressure of their immediate wants, leaving the future to take care of and reaulato itsolf. Thefe wanta keep manufaeturers on the qui vive for Btaple. yihey are continually looking tbrough the market for weuk spots and needy outsido holders ; and wberever they can secure a little oonceesion fiom regular rates thev deal quite freely. ïhey evidently want'woo! ; but they want, also, to make thuir own prices. Tbis regular dealers are not geoerally inclined to submit to ; but from lack of combination aud the eagerness of sorne outside parties to realize, the buyer generally succeeds in carrying bis point, and tbus the niarkot ia weakened. In ihis baijtjring and coujpetitive way, several largo lots have been quietly taken durÏDg tbe week, for delainiug and other seasonablo purposes, at ratea 3a4c under those reeogniztid a week or ten days ago ; though in making thesb sales owners and consignees have invariably iucurrod a large sacrifice. These loíses, however, throughout the season, have fallen mostly upon speculative holders, as the reg.ular trade have opened very cautiously, and kept their stocks sold close up, aod have thus boen able to dify fiuetuations and take advantage of the markot, Tbe stock of fine wool is reduced to a srnall compass, aud even a large portion of the heavy, undesirable grades of Western has lately been worked off though at low prices. Pulled wool is dull aod neglected for the present, but the supply will all be waoted as soon as the stock of flannels now in the hands of manufaeturers and jobbers, begin to move off to the distributing markets. Fine foreign wool :s in fair requesl", but the firmness of gold rather cbocks the disposition to opérate. Opinions in regard to the new clip continue widely at variance, and at tbis early stage of tlie season the best framed tbeories may provo wholly at fault. The ouly thiug certain in regard to the mal ter is, that neitliGr consumere nor growers are in a hurry to come to terms, aud, that contrary to last year's prece den!-, the bulk of the erop will. not be taken from first hands till wanted for consuinption. The result will doubtless be a compromiso of extremo views bo-' tween buyer and Beller. Tbo domestio yield this year is unquestionably a very large one ; birt it will all, and aore than all, be wantod to meet ihe requirements of the goods market ; aud those who labor under the impreasion that Western farmers will almost give their clip away this season, in order to get rid of it, will in tbe end be disappointed. Very few agenta have as yet gone out on prospeeting expeditions ; but mercantile corref poudents mention, as the probable opening rates, from 50 to 65c for Western fleoces, including Michigan ncd Oiiio, and 70e and upwards for the best quality oí Pennsylvauia, iucluding Washington county. Sales of domestio for the week foot np some 400,000 Ibs.., at a range of 52a75e for fleece, and including Illinois, &t52ii60o; Wisconsiu, Michigan, New York aud Ver mout at 60aG5 ; considerable lots of fino Ohio at 70c, and a few pareels of fine Pennsylvania at 75c. Pulled bas been selliag in moderate quantities at 60m75c for the various

Article

Subjects
Old News
Michigan Argus