The New York Wool Market

The inarket is a littlo moro a tiro thM wiiiil. though the Balei are reítrioted lo Biuall lote, buyo atill pursuing a handto-moutfa polioy in the abusaoe of any 'm diodüoa of in eatly Ltoprovenient in pric.os. ïhe nöw clip ia ilowly, and the sairs nio n. i Bequeaoe. Èustern buyern ar aüt digpoed ta pJ ovlt M)o, and at thftt figure ie is èiaicult to obniiu stook, as thi dsaiers und partios buying on ufcuuut of souia of the maoufacturiu ooi rrts are payiiig as hitjh as ■,-. Inthe duood state of stocks in the E jii'u-kots He-v wools would if immeJiately forthcoming :;t á reoeonabls price, nd H vouM seeitt like h&rd polioy on tho part of the growers to hold back theii stook. ïhore wil) inövitably bo a stringent money maraoi mis uu, at"l waelfl -ill be forced inlo Uie country rates, 80 that udding the expense of carrying and shrinkage, the Outlook is not espeoially favoruMc io holdeis. I There has been gome imfuiry for foreign tlus week, aud tbe Eiarket is easier in íuost desoriptions. The Balea reported uro 90)000 lbs new Uhio fleece, No. 1 to 2 and abive, -17(i jOc ; 6,000 lbs choice' jk'W, l)o; 1,000 lbs combina, 55o ; 1,000 lbs nnniorohantable, 3do; 5,000 lbs pullud, 40c; 0,000 lbs English noils, 45c; 120,000 lbs Oregon, 10,800 lbs TexM, 45 bales Australia!!, 1,000 lbs pulled and 5,000 lbs corabiug, uil ou private ternas. - Dinlij Bulletin. A writer gives in the ÍTew York Worbl t5e folio wiug yiews from a prominent dealers which will bo fouud interesting : Iu 1871 we had a very excitad time. Now, BM we look buek, it all seenis very strangu. íhere appeared to bo a fsmine ot'-wool uil over the earth. ' We can set', looki i' ■ 'Vimi our Breaent standpoint, that the difficulty all aroso in tho UnitWi 'títates. TlirivUgh :iu uninteational overtight in the framing of the tafiíioi 1SCS wt-ul on the skin vtl:s let in :icariy frpe oí dizty, whilo that separate í'roui the skin was taxod ten oents i: pound and 12 pur cent. Bresently iriiportora saw thu leuk ttitd bogan iuiportiog heavily ui' wool on tht' skin, iguoring tho other. The rosult waa Unit manufacturera, who wero greatlyt depressed after the war, ran tho price of riw material down so low that farmers wee disulayed, and began slaughtering their sluiep merely tor their tallow and pelts. In two oi three years this destruetiou ut' sheep reatly redueed the American clip ut' wool. About 18G9 the tariff W8 amcwded, eo that the ovarsight of the protiotioniëts wiw i:nedied to their Batiaf.iction. But by ihis time so graat an atnour.t of foreign wool had been' brought iu that an advanoe in the pricu of doniestic woul was preTeuted tor a time. But in 187(1, thd stock having pretty m-ueu run out, tho Ainerie:ui ulip was a-beorbediu a few weeks. The tradie Uien bfgan casting about ijr a supply. Pinding nouo in this country they bought in KhglanJ, Capn of (iood Hope, Australia - 'where they had liever bought bjt'ore - and Sjuili Ameiica. The extensive purcliases tor the United States in England cauaed a deli.it there. Tho Bnglish vrent as BsueH to the Cape of G-o'.-d lïopo, and Austruliis, but iuuim tliat thy Americana had been there befara them. BveQ in [adia they eleaned the market, Tho aotivc oompetition now causcd an advanoe all oyer tho world. Gieat profits woro made by tapoitera who held large stocks. In some casos their wool advanced 75 per cent. The fortunes thus made set the truilu wildly speeulating. Wool that was 45 oüiits in 1869 rose to 85 and 90 cents i.l 1S7'J. Oliio tlci.ee that had been wortli 4S cent-, rose to 83. Most people tbought' that this stato of tilinga would last, "biit it did nut. For, thongh the price ui' woolena was [raiscd to correspond to Ihat of wool, they Would notsell, and stocks accüniuiated. Manufacture rs, iiSuliiUfthut sfoods did not syoipathize in the tiso, and thaf that the i ould not get their money back, ooncluded Uiat they uiust lower pricea or stop tho milis. Mauy ot' them stopped. The effect of this partial stoi)page and accumulation, v.'ith oontinued arrivaU of foreign wool, was a decline in piice3 of raw material. AU through 1872, from Marcli to October, tho market was quite stagnant. It vvas' diffii-'ult to sell at any price. Early in Octobtr a better feeüng arose, confiáence was somewhat restored, and busiae8S was resumed at a dcelmu of bettreen 30 and 40 yv cent., vhich brouglit tho inaiWet about bftck to Iho oíd figure. Then oarae the Boston firc, which set prices 1' from 15 to 20 por cent. Th.o jVre not only ■ l goed deal of ...i i,m+ ulso a larore attantitv of inferior manufacturad guods. Just as during the war the scurc-Uy oí' coul resultad in puttíncr onthe marhet a!l the aocuinulated rubbish cf the eoal mines, so the scarevty of wool has caused the refuse oi' tlio wool carleóte oï the world to drift into the-factórit'H. An immc-iibo quantity of "bed wool" even ci'ine hero froni Arabia and ..sewhfi'ü - that ií, such as had beerrused íilUu'pj of bcds. Even the saddiepackin i'oiind ítti way to market. Tno consequeiieo was that the fall 111 prico found a largo quantity of poor goods on the market and that portion of it burned at Boston was a good riddancu in several ways. Prices went up from fiftetn to twenty Vifr cení yot there was none but a spoculative dfiuand, though manufacturersand dealers acted in accordanou with tho suppoBition that it was genuiue. Sinc'e then prices have ruled low - lower evon than iefore tlie eWitomeat. On a gold basis they are lower tiian before the war. Manufactnrers are Sfttisfied that they can Bell at a protit at presetot prices. This spring the cold woather' operated unfavorably upon the business. Few goods wure sold. The geufetal impressioil is that little will bü done until after the new clip coiíios in. This wíll be ur.usijutllv largo in Texa3 aad Salifornia. Two hundn'd million poumls will liare to b taken care of. In view oí' this fact, nrioea rnlc low, especially on lower grades. Th trado lost more by the fall in wool than it gained by the rise. A few lucVy ones stepped out in ti;.. is a stranga faot that the United States raiscd the prïce wool all over the world. In Bome fcreign buids it went higher than it did here. T)ne hundred peï oBiit. was a comuion advanee. ■ ■ ■ - r 1 I É I