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Activity In The Wool Trade

Activity In The Wool Trade image
Parent Issue
Day
3
Month
August
Year
1877
Copyright
Public Domain
OCR Text

From the Norwich Bulletin. Xhere bas been on unprecedented revival in the wool trado within the last few weeks, and the amount of business done reminds the large dealers ot' the liveliest years of the war. The tact that the sales in Boston last week amounted to 4,100,000 pouuds, the largest week's business ever known to the trade in that city, and a million poumds more than for the oorresponding week last year, is sufficiont to show the aotivity of the trade in this oommodity. The indications are that the wool-consuming centers will be the scène of uuusual life within the next six months. The manufacturera have been running on the smallest possible amount ot' stock for months past, but are now forced by the reival of business to buy largely, for fear that pricea will bo even higher two or three months henee than they are at present. The tendenoy in prices is constnntly upward. The wool growors in this part of the State have nearly all sold the cut of the present season, realizing, perhaps, on au average, a libtle less than 40 cents a pound, or nearly ten cents more than a year ago. The rise in the price of wool has had the effect of exciting activity in woolen goods abo, but this has been more innrked in the increase of business and the more confident feeling among the merchanta than in increasing the price of goods. The effect of the wholo movemeut will be to greatly improve business at the large number of woolen factories in New England. In truth, these facts indicate a brighter prospect for business, and better times even are predicted.

Article

Subjects
Old News
Michigan Argus