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New York Wool Market

New York Wool Market image
Parent Issue
Public Domain
OCR Text

Notwithsianding the panic in tho stock and money markets during the week under review, we aro pleased to observo a good deal more animation in this branch of business both here and elsewhere. The raarket has continued greatly depressod, however, and this accounts for the improved inquiry. As price" of domestic wools in r.early all instancs'S are now down to gold ruling ratos before the war, manufacturera are coimnencing to take hold with more freedom, confident that prices of wool have ruuched a level that wiil enablo thein to run thoir machinery witb a prospect of obtainhig some return on thcir investments. The general churacter of most of the wools oxhibited wa3 heavy. The wools classed as Ohio wero nO better than heavy New York Sta'te, and tlie panhandle was no panhandle at all. Obio X and XX fleeco wooLs are generally held 2a3c above Michigan, and yet the Michigan wools brought 3 cents above the irrades classed as Uhio. The Maine snper pulled wools wero nothing of the kind. In truth the best part of the classitication was very poor, and sorao, if not positively wet, was very heavy, lint bo tilia as it liiay, tlie salo diselosed that wools liad fouml a level, and sinee its close tho raarkot has been quito activo, not only here but in Philadelphia and in the country. The low pricos at which all classes of wool have been pressing to sale bas finally led to orno largo operations. It is cnrrently rcported at tho close that a wealthy operator in tho manufacturing and dry goodstradn ha been making some extensive purehasesin town and country within a few days at pricesrangïng from 45c up to 52 l-2c, chiefly the foriiier, for inyoiees in the country, nnd the latter for good aelections hero and in Philadelphia. Good choico Michigan and Ohio neeces may be quoted hero nt froin 50c to öóc, but in Philadelphia large sales of the best Western Pennsylvania nnd Ohio ivools have been eCfected at 50(2)52 1-2. It is cnrrently rcported that one million pounds of fleeee wool hits been soid in Philadélphia the past week at prieos within the range, but soino of the dealers there havo :vitlidravn their stocks trom the inarket at present. In out own market thero has baen considerable done in domestic clothing wooJs, and and n improved inquiry is very noticeable ; also for Monto Video and other Soutli American wools, Australia and Dape wools are also in improved request, aut the principal demand runs chiefly 011 medium grades of domestio woola as they are relatively the cheapest. All foreiga wools are held with increased confidencc, owing to the high premium ou gold which precludes the possibility of importng or replacing the staplo current lates. The sales of the week include ,")0,000 bs. Michigan and Ohio fleaco on private terras ;. 250,000 lbs. Pennsylvania do., on a line of thft Erie Railroad, on private erins. supposed at 45c ; 90.000 lbs. X and XX Ohio, in part withdrawn f rom the inction on Thursday last, on private orins; 15,000 lbs. XX Ohio fleece at 52c ; 8,000 lbs. X and XX Ohio at 52 l-2c; 25,000 X and XX, do., at 52 l-2a55c :


Old News
Michigan Argus