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The Boston Wool Market

The Boston Wool Market image
Parent Issue
Day
29
Month
April
Year
1870
Copyright
Public Domain
OCR Text

F?ora the Eulletiu. me wooi inarket is withuut any nw or encouruglug feature. The demund is very liglit and prices for uearly all {nuics mie low and iu favor of bu.vers. Tiio mana fauturlng Interest Is greatly depressed , ;;ouü are selllng (vvhen they can bu sold at all) clüáe dowu to iho cosí oí' producción , aud heneo mili ovvuers v i 1 1 not i t)ey can fjud sheap Jots. There is a general dUposklan to await farther develaproents. The agltation of the tarlff un in Uongress, and Uie 10 hoar systein .i our otate Leglslatare, has tend uuscttle coufldence, whilc tho late freshet impelled a s.uspi uslou o.' work among manufacturera iu man; parta of New Kngland. '■o, all tilines considera!, tiic sltnarather discouraglng lor tbe wool trado, and gome are lncllued to despair ol auy Improvcment rluring the balance of the season. But, Asa general thlng, holders aro hopeful, and look for a bettèr deroand iu tbe i ,i few weeks at farthest. If the milis are to bc run at all, aml the market suppl i with ;i stock of Fa!l guods, ifacturers must soon como in for piles of raw material. F' a lóng time they have beta running asolóse tai tve wind wlble, and eau not bold o;r nauch longer uuless they stop. Comblng wools will soon be wanted in largo quantitles; bu; at present they ure not to be bad, ex i ■■ pt In Binall lots, at any prlce. Iu view oi'this dcücieucy, consumers are beglnnlng to turn Uieir attenUon to the next clip, whicli, iu sorae part3 of tbe country wlll goon He avallable. Henee, In view of the scarcity of deslrable qualltles of wool and ■.iolut,o uecessltles of oonsUmptlon daring the next tvro ntontbs, holden ure not so despondeut as nsight bo ezpected under this protracted dulluess. The transactions n fleece have boen very Hgbt, and for tbe flner grades the prices offered are not up to tbt views of Bellers. Pulled troóls ore Belling most freely, but at relatlvely low prices. California and Meilean ■ are in botter deuiand, as woli as tlie choice i of Bonth American, Afrlcan and Australiana Bales of domestlo have been small for the week, and ioot up only about 550,000 lhs at a range of 4n@51c for fleece and 40@ t8c fbr the varióos grades of pulled. Included are 7,000 Lba extra Mlchlgau -lüc, and ii.OÜO lbs cioublc extra heavy do 60c. From the New York Economist. Tho inarket is mach more than (juict or dull, there is notblng dolug; the three of rain of tbis week hus not only stopped business, but has stopped a large number of mijls, and lnterfered wltbagreat mauv which have uot boon 'actually stoppel. The eii'i'ct on the vvool market is depressiug bcyond anythlng w.'iich has been experienced for years, and whereor when the end wlll come is more than auy one can teil. Oue thing tve may eafely report, that ivool wiil open very low in the country. iderstand that the farmers of New Himpshire, who hav I Idlug their wool, some two, some thi e and some as much as four years, are now setllng at 40 cents, which is a very good prlce indeed, coDSlderlng the stuto of the timos. Tliuy have evon done a wlse thing at last to sefl even at that priec. Foi' lt ia not likely that they will get, two months henee, more than 86o. Dealers hav; lost mouey tlie past year, and will not be liktly to pay Veryüigl aiiother year for ivool. Trade wlll not admiti'f it, and cerUAüljlt is time for somb sneu to learn wisdom, vyin at the eleventb honr. Vt'e can not writa about demand or culi ; nobody Wants wool at the present time. Nobody wants unythillgbat to be let alone. Fine wools áreas clull as any kind, except it is XXX and plcklock. oes move sometimos, but at n very low flgare. The very best inay bring but there is mach that woulcl not brlng BOc ; aud rumor saya it has been sold even below that Minire. In fact, it is bard to teil at what ügure it Wou ld sell at lo-daj, or any kind O? wool. The market is lairly demorallzed ; and there does not appear to be one ray of hope.

Article

Subjects
Old News
Michigan Argus