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The Wool Market

The Wool Market image
Parent Issue
Day
21
Month
June
Year
1872
Copyright
Public Domain
OCR Text

A recent Boston Circular saya : Tho new tariff reducing tho duty 10 per cent on foreign wool goea into opuration on the Ist o f August. Beside-, the rcduction or' lOper cent, tacdiscriniinating duty of 10 per cent, on all wojI not imported direct from places of growth Kis lso besn removed, to go into operation on no lst of October next. The general njuctiou of 10 por cent, with the remov1 of the discriruinating duty, will make a diir'ereuce of 3c per Ib. currency, on ill colonial wool impcrted from Great Jíiitaia, taking as a basis the present current prioes in the tiiarkct. Thia will, t" doubt, hive an irnpor.ant hearing on the prico o. wool, and may load to large jjuiuhasos of coloninl wool at the balos to como off in June and July. The principal cau9e of the recent depresión in wool has been the unusually lare import of foreign. Sinco the lst of Jun íary thtre hüs b'.en received al N.w York and Boston sonio 00,000,00' lbá of foreign wool, and, with the arrivals expected befóle the cloi'o of the month, our imports of foreign wool iluiin j the first six u.onths of 1S72 aro likejy to be t'qual to our entiro import of tLe year 1871. Tho interior markets, as per latest adviccí-, aro dull aud dpressed. Tho principal operators appcar to be unusually iliuiHerent, and, and the new clip wiii move slowly, as it is still held at pi ices ajov tlie current rates on the waboard. In Michigan thero have been some pur chases at COc, aud in Ohio, West Virginia and PcnnsylVania at 65c, but growers hav? not fully made üp thejr minds to a toept tiiese figuras, and tnannffiotiirePi (lialtrs and spocu.ators are l.olling off.

Article

Subjects
Old News
Michigan Argus