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Boston Wool Market

Boston Wool Market image
Parent Issue
Public Domain
OCR Text

The wool market ha8 beon quiet and ivith the prospect, amounting to a eertuint}7, that the new clip will open at rather low figures, tbere is a general tendency of prices, in the Enstcrn mnrket to simde off. Dealers aro the more inclincd to subrnit lo a slight reluotion, from the iact that the recoipts if oíu wool continue quito liberal, indi aling that tbore is still a considerable eserved supply of at year's clip to be brown on the market a5d worked up, efore the new erop wilt be nefided for onsnniption. Thu lots dow eo-ming forvard, howcvur, are inostly of low grade and undosirable staple, such as eau on I y )8 moved tovvarda the close of the Sfta son ; and tbere is good reason to supiese that the stock of fine Otiio nnd Pennaylvaniu wool ia' nearly exhauted Lote suitable for delaining are also very scarce. MaDufaetliréfs nre quite rtserved in boir operations, nnd do not buy frecly or in larga lots. They are not supposed to be stoeked ahead to any. extent; but the dullnesB of the goods inarket at this setson enables theui to take their Own time in filling ordors for the fall trade, and to hold off for the rnw material to iottle dowu to its lowest bsarings. Por necessary supplies, however, thcy oon tinue to rely upon the Eastern markets, and do not attetupt to meddle with the new clip. In fact, it would bo neitber politie nor profitable for tbem to euter the wool growing districts. For the present,, staple is selling lower here than it can be bonght for there, nnd tbere is no margin evea for expenses of transport.stion. Nobody ís buying wool at the West, eitlier old or new, and consignmentg are only made on c-wners' account. A few iigcuts of Boston honses are engaged in " prospecting" that región, bat no contracts of any account have yet been made. Thero is, of course, considerubly diversity of views between growers aid operators ; aod while botb partías nre apparoutly indifferent to trade, and cautious in committing iheinselves as to terms, the fatter are determiued not to move th time until tfeey have a " sure thing." The farmers talk big prices as usual ; but they raust eventually see that the Eastern markets, after all, present the criterion which must govern the Western rates for the new clip. Tbey cannot ezpect to get more for their wool there on the spot than it will bring here ; and to attempt to forco prices up bere at the point of eonsunjgtion, woüld be to let in the foreign ai'ticle in immense quantities as a substitute for the domestic. From all accounts, it is probable that the crops nf Ohio will be bought up at a range of 55a60, Michigan at 50a55c, and Wiscongin and Illinois 45a50c. - Com. Built tin. The Augusta, Georgia, Transcript snys :' Two officers of the Hichmorid banks recently started with S326,000 of hpecie belonging to those haaks, for Ilichmond, with a guard of only twelve men. Oa the way they were snrprised by rebel paroled soldicrs and robbod of about $2UÜ,000 in specie. A company has been established in Ricbinoiid, witb Governor Fierpont at ts nêad, to open up Virginia to emigra tiou from the North, and to furuish all 1 infortriation iiceessry.


Old News
Michigan Argus