Press enter after choosing selection

The Wool Market

The Wool Market image
Parent Issue
Public Domain
OCR Text

lrom tho Boston Baitetin, 7. In tho wool market wc notioe an improved deniaiid, and transsctiotis ior the treek t'oot up a ïnuch Larger api:; than last reported, viz. about 1,100,000 lbs., inoludmg íi.11 descriptiona. Manu;' urers hav ■ niado their appearanco in couBiaeïaDIe ïorcö, ana nirtr tram and earnest inquines among tho trtdeindicatc that tho time is hand when their exigencies will come in for a general repienishment af They ate övidently growing quite, anxious over tho situation, anti ir the goods market were only in a more gatisfaotory condition it is probable that :i wsry active demand would soos spring np, leading to an improvement in prioes. Uut. undur tho oircumBtanoes, with their products aooumulatiug, ii general Lick of margin on eurrent sales, and prospecte ot' a better state of things aomewhat dubioTls, to 8y the i : : i s L , they naturally hesitate about auticipating their wanta to any éxteut, though they probably are nut looking for a lowar range ui' prioes in the náat futuro. So as une foreign wool8 ate concornod, which constitutu tho bulk of suppliea nov.on tlie market, holden are vory fírm in viow of the faot that pricos abroad, allí thi y have shaded a trillo frum tho highest point of the ueason, are still ntainteined above ího relativo level oí' our Atlantic marketa, and are not likely in vi'iit to í'all biilow it. Buyers appreoiato thiafuot, and henee are dis1 tu opérate more freoïy, takil g round lots at fully np to the pricos cinrent the last few weeks. Xutwithstanding thu uuprecedented soarcity of domt'stio wool, and the dueiuiiey oí special grades the demand, continúes vory moderate and priesa are without imptovement Bnt tbefew holdersare apparently (juite iadifferent, as tht prospect is that tlio new clip will not only by late, butthat it will not come ujjoii tho markot ai i han are now quotod for oíd wool, though for all manufacturing purposoa the latter is worth the most by at 1 ast three or 'our cents per ponnd. lu f a yortion of tiie uew erop of Ohio and Pennsylvania has nlready contract ed for at prices equivalent I 85c laid down in the Easteru zaai a ky oombing flueces, of which our inurkots are entiiely bare, are being ■it up on tho spot at a range ot' (',;' li"ic, unwashed. From California wo ; that tho bcttor class of Northern wuois are now coming forward to San Francisco, and extreme prices oontinue paid, rajiging from 50 to.")7;.o for fair to ehoiee clips 1 to 62}áa70c, ourrencyj ior the aiiid downhere. At thesen fig flner grados could not be sold m competitiou wul Australian, which is far superior, though probably tho medium and coarsor qu lillies might bo taken iu tho abbenco ■tte. Sales for the week foot up about 30 (,- ui. o tbs. of ' 000 lü.s. foreign. Included in the formor are '2'J,U'JD lbs. X Michigan, 7"':'"Sc. From the X. Y. Economist. In viow of these ciremnstances, v,Te eau not gee any redeeming featuro in tho wool trade. Nothing but a teten ture can aftVet the market at all. Manu.■;rs wh relied on the California clips to relieve fcheir wants must now, ■■■■ ■ we said before, 1 oh to aome other for eupplies, as ii'ieos thcr ■ rapidly bvauoed, ev n in the absence oí' any deuaanJ ftroJn Eastern manufacturera. The aJyic Vi from the country are anythiugbutciieerf'üi in Virginia and as hiah as 7öc. is i ífcred for fine 6 andirefused. Allooi 18.000 lbs. fleeoe is reported as being ;ade at m 73o. Tuis wool, it ftpp.-;;."-. was held , but we hayo no aseuranoë that it rer worth thieprice, nor are we ,"onnnoed now that it afforda any oriterioO ■f tho uiwket. If thu wool Í9 detirable, we regard it fis a low salu, when wo compare it with othera, and thero is nothing alter all like testing thmgs iu a ■ maiiner. Now, if close tests to-diiy, we iiml on oorapanson that balance each othor in LtOodon and Is'üw York marku;". Indood it oould nol be otherwise with the aid of telegraph. Hiuce the pnrohase of 1.30,000 X and XX Ohio and Michigan i!' ■ maile at ;!;! closo of laat week it BOoenta, ple without any doubt or cavil. So does tlie large purebase □ tralian, at f not TCo . . 'arge ; iona iu . wools at the .liout a half dollar a poo oouvinoing pioof that wool has as fixad a vake as gold or silver. For tho next two nionthstlie attention of the entire tradc aví i ba wholly diverted to the wooi growtiona "i' tha interior, and great I y is already fclt about opening priCC'9.


Old News
Michigan Argus