The Northern Daily Times.
Liverpool, Merseyside, England, 1857-01-02 00:00:00

REVIEW OF THE WOOL TRADE.

General Remarks : The wool business during the past
twelve months has been conducted on a sound footing, and
for the greater part of that time has presented a cheerful
aspect. In the first few months there was considerable
activity, owing to the reduced stocks of all descriptions,
and particularly of fine colonial and similar qualities,
which realised very extreme prices ; a further stimulus
was given to the trade by the alteration in the French
tariff at this period, but the advantage to the French
consumers being for the most part of a differential charac-
ter, and favouring direct imports, the influence was chiefly
felt in fine scoured wools, which up to the earlier part of
the London May public sales met with eager competition
from that quarter; after these sales had been a fortnight
in progress a sudden and somewhat unforeseen change
took place, and during the remainder of that series until
they closed, en the 4th June, there was extreme heaviness,
ant a decline upon the opening prices established of nearly
10 per lb. For more than a month subsequently much
inactivity prevailed, and so great was the gloom hanging
over the Yorkshire markets, still further increased by the
exaggerated estimate ef the quantity to be offered at the
next succeeding public sales, that many parties were
induced to clear off their stocks at ruinous prices. The
next public sales, which had for some time been looked
forward to with anxiety and interest, began on the 17th
July, and realised prices equivalent to the concludinc rates
of the previous series, the trade in the meantime present-
int, no feature of animation. At this period the bulk of
the home wools came to market, but under the circum-
stances they engaged less than the usual attention, being
attended generally with much activity, as it is a rule for
growers to give the preference to former purchasers, who
from the fact of their knowing the precise yield of the
wools from practical ekperience would be the more
anxious to secure the same clips again; after this demand
was satisfied, the trade generally feeling a want of eon&
dencelin the opening rates, a period of dulness:ensued for
some weeks, and prices receded from id to 1. d per`pound,
until the hot and genial harvest weather set in in August
whichbeld out a prospect of abundant crops; this having
been happily realised both in this country as well as
abroad, all branches of trade have felt the bene-
ficial :effects, and perhaps none more decisively than
the wool business. Owing to its sound position, political
and monetary arrangements have been regarded at of
Minor importance in their bearings on trade ; and when
the first n sws of peace was declared in April at the time,
when our public sales Were going forward, it had as little
influence upon prices as during the subsequent months of
the year the advanced and stringent rates of the value of
money, the trade being altogether regulated by the pros-
pect of supply and demand. Since August there has been
a uniform tendency to advancing prices, which, as regards
combing wools of home growth have received a rapid
and to some parties in the trade somewhat un-
expected development in the past six weeks and
for all such descriptions and similar kinds, which
were in any way affected by their rise, the present
ranee of prices is higher than we have seen them since
1834 ! We are by no means prepared to say, that this
advance is not altogether warranted, for it is an undenia-
ble fact that stocks are reduced to such a point as to cause
grounds for serious uneasiness to the trade, and it is very
important to bear in mind, that while consumption has
been steadily and even rapidly increasing for some years
amply attested by the number of new mills that have
been started—there has been no corresponding
addition to the growth, which has been little, if at all,'
augmented. These remarks apply with even greater force
to some parts of the Continent, where the power of con-
sumption has been in a much greater ratio, and, as we
have frequently before taken occasion to notice, they are
becoming our formidable competitors in the markets of the
world, even in those departments of trade where, formerly,
British goods stool unrivalled, and it will require all our
energy to turn the advantages we possess to the best account,
and by putting aside old prejudices even to retain our
present position with the additional prospect of the tariff
both in France as well as in America approximating
towards sounder principles of free trade.

. -
Home Demand for Woollen Goods.—Notwithstanding
the high prices of provisions during the greater part of the
year, and the unsettled state of the money market, with the
anomalous accompaniments of sound and healthy trade and
periods of almost money panics, business has proceeded
uninterruptedly. The home population has, on the whole,
been well and profitably occupied, and, as usual under the
circumstances, been very large consumers.

Export of Woollen Goods.—The tables of exports to
foreign and colonial markets continue to show a largo, and
during the latter months a very cinsiderable increase as
compared even with the most favourable returns of any
former years, accompanied,we believe, with more satisfactory
results to shippers, and as we do not hear generally of the
markets abroad being glutted, there is no reason to look
for any diminished outlet for our goods, while the high
prices prevailing in this country for nearly all kinds of pro-
duce, must have a very favourable influence upon the
markets abroad.

C.easumers.—Their condition during the greater part of
the year has not been unattended with difficulty, prices of
wool having generally been in advance of yarns, and the
manufactured article, and under the present circutnstar ces,
with the certainty of supplies being altogether inadequate
to meet the present or even probable rate of consumption,
their position will become still more trying. If this state of
things were induced by speculation in the raw material there
would be a prospect of matters-soon settling down to their
proper level, but for several years past we hare express, d
a strong opinion that consumption was overtaking the
production, and that sooner or later it would result in
extreme prices. In looking forward, we think, there is a
permanent prospect of a higher range of prices than we
have been accustomed to for some years past, and so far
from regarding this as any disadvantage to the trade,
although no doubt it will temporarily cause much incon-
venience, we think in the end it will be productive of much
good by stimulating the growth all over the world. Already
several of our leading firms have made arrangements for
running short time, but without being able to carry it out ;
we shall not however be surprised to see this more generally
attempted some months later, or otherwise prices of wool
must inevitably continue to advance. In our last annual
report we alluded to the prospect of an early alteration in
the French tariff on wools, which took place in February.
As an abrogation of the former protective system, it could
not fail to be considered as a great measure in advance, but
not being found to work well from being too restricted in
its operation, we believe there is likely to be soon a further
alteration, based upon sounder principles of policy,
Wool Trade : As regards home descriptions, growers
have derived the chief advantage from the rise in prices
throughout the year, the former experience of consumers
and dealers having been unfavourable to holding large
stocks, and on this account many are taken quite by surprise
at the suddenness of the advance"during the last six weeks
in combing wools, and being attended at the same time
with larger orders for goods which must be supplied, it
seems hopeless to contend against it, at least for the present
there is no prospect of abatement, and to those who through
over caution are ill supplied with stocks, sooner or later it
must cause serious embarrassments. Colonial wools have
on the average left fair profits to the importers, but in the
general range of low wools there has been little if any
margin owing to the demand that has existed in other
quarters, consequently our market has been kept bare of
stocks throughout the year, which is the more to be
regretted, as at the present time with the prospect of an
inadequate home supply, they would prove a very valuable
auxiliary. Under ordinary circumstances we are more
particular in our classification and estimate of wools
than is the case in any other country, and we may
here admit that with some of our manufacturers it is
carried to an extent bordering on prejudice. This is in some
measure to be explained by the abundance of our domestic
growth so peculiarly suited to our requirements, but for
some years past foreign has been gaining favour, and many
descriptions are now even much esteemed and sought after.
The present altered state of affairs will tend very much to
force these more generally into consumption, and holds out
a prospect of importing to advantage even the most defec-
tive descriptions, the value of all sorts of wool, both present
and prospective, in this market being higher than in any
other.

Wool Imports : The total receipts show a considerable
increase, chiefly from the Cape of Good Hope, East India,
South America, and Russia, but not to an extent commen-
surate to our wants, as we stated in our last annual report,
that our supplies were less at that time than at the same
period in the previous year by 21 per cent. This alone is
sufficient to account for the bare state of this market during
this year, independent of the increased demand that has
existed for the great part of that time. We refer with
satisfaction to the large increase at this port, more particu-
larly from Australia, and have confidence in predicting that
it w i I continue to increase.

Wool Exports : Here we have to notice a considerable
falling off chialy in foreign, which under the circumstances
is not at all surprising. We by no means regard this as an
unfavourable feature, as there is abundant evidence, that it
has been exported under more profitable circumstances as
manufactured goods, or in the partially manufactured state
of wool tops which have greatly increased of late.
AUSTRALIA : This port seems now in a fair way of becoming
one of importance, at least for tho "import" of wools from
the Australian Colonies, and although a large quantity
continues still to be sent forward for sale in London, we
regard this as only temporary, for when once the receivers
become disposed to make a fair trial of this market, no
further persuasion will be required for the future, and the
best recommendation we can offer is to refer to our friends,
who have already made the experiment. During the months
from November till April, we can sell any quantity, large or
small, to the fullest advantage either at auction or by
private sale, but at other periods we have always main.
tamed that it would be at least impolitic to attempt public
sales here unless We could command a quantity of sufficient

magnitude," while at such times we consider private sales
quite out of the question, except under peculiar eircnm-
stances, such as a decided prospect of drooping prices. We
have given ample proof of this in our frequent recommen-
dations to send forward wools to London rather than in any
way endanger their sale here. We have never doubt d for
a moment that eventually we should have a large portion of
the trade, and actitig upon this opinion, we have always
considered it the true maxim never to undertake any busi-
ness without the prospect of doing it well, leaving the rest
to the course of events, under the full persuasion that
shippers are the best judges of the result. The condition
of the clip has been generally favourable this season. The
first series of public sales in London commenced on 14th
February and closed on 7th March, comprising 48,900 bales,
of which 25,427 bales were Australian, and 17,629 bales
Cape The prospects of a speedy termination of the war
combined with a redaction in the price of food, and an im-
proved demand for manufactures gave an impetus to prices,
and an advance of from 2il to 43 per lb was established.
The quantity taken for the Continent was estimated at about
12,000 bales, chiefly for France, where a considerable
reduction in the tariff had been followed by a greatly
increased demand. The chief feature of this series,
however, was the large quantity of Cape (almost a twelve
mouths' supply a few years back,) and which sold at
an average adva- ce of 8d per lb, on the October November
sales, and the breed end washing having greatly improved
the growers will no doubt have been amply recompensed for
their outlay. The second series lasted from the Bth May
to the 4th June, and the total quantity offered was 56,200
bales, including 7,950 bales Cape. They opened with an
advance of Id to 41 owing to the eager competition and
large attendance of buyers, but, their wants being supplied,
prices receded to about the s,me range as at the close of the
previous sales. The third series was the largest on record,
comprising 86,600 bales, including 6,350 boles Cape, and
lasting from the 17th July to 25th August. The quantity,
being so enormous, it was taken for granted that a d cline
was inevitable—however this was only partly realised, for
although prices receded at the commencement Id to lid
they soon rallied again, and the result was that they closed
at fully May, sales rates. The fourth and last series
took place from the 6th to the 29th November, and
the total quantity brought forward was 62,000 bales,
including 18,200 bales Cape. An unusually long
perk)] having elapsed since the previous sates, and with
the prospect that the next series in February will be a very
small one, the trade was prepared for an advance, notwith-
standing the high rates of discount, and the sales commenced
at fully Id, and increased to 1i to 2d advance on the
August series, Again a large quantity, say 12,000 bales,
was taken fur foreign account. There has been a decided
failing off in the receipts foam the Port Philip districts,
while from South Australia there has been a considerable
increase) but it must not be looked upon as the increased
yield of the last clip, as it is known that a large quantity
was left over from the former year, owing to the difficulty
of transport from,Zthe shallowness of water in the Murray.
The navigation of this important river has been materially
extended through the employment of vessels of very light
draught, which has thus been rendered navigable to some
portion of the neighbouring colony of Victoria, and it may
be safely assumed that at least a couple of thousand bales
from that quarter has this year been shipped through
Adelaide. New Zealand has come forward in greatly
improved condition, and promises soon to take a prominent
place in the estimation of the trade, from its healthy, sound,
and usetul properties.
CAPE or Goon Horn.—As a source of supply of wools
we consider the prospects of this colony in the highest
degree encou-aging, and particularly so at the present time,
when the growth in Australia seems to have received a
decided check. Many parties are inclined to look upon this
as only temporary, but independent of the attraction of the
mineral wealth of those colonies, there is no doubt that the
growing of wool in many districts has ceased to be remune-
rative, at least that other occupations have been found more
profitable, and it is known that some flocks of repute have
disappeared altogether, the settlers having turned their
attention to rearing cattle. It seems, indeed, doubtful
whether the pasture lands of Australia are capable of much
extension, being chiefly confined to the Beaboari, whilst at
the Cape the area seems almost without limit, and the great
increase of late years likely to continue, the more so as the
greater attention is now being paid to sending the wool
home in better order, which is so essential to ensure a
current sale, and to this may be chiefly attributed the grow-
ing favour which Cape wools have engaged for some time
past. HUGHES AND RONALD.

STATE OF TRADE IN 711 E ROCHDALE
DISTRICT.,

The wool and flannel trade in this district during the
past year has experienced considerable check as compared
with former years, in consequence of the continued upward
tendency in the price of wool. All sorts of *Wool used in
this district—skins, brokes, and lambs—may be quoted at
fully 23 for some and 3d for others higher per lb. Through
the year stocks have never been very high, and staples in the
spring; predicted that, in consequence of a scarcity, prices
were likely to rise. Manufacturers were generally hard
of belief, and as a further test many began to work short
time. This, however, did not succeed in cheapening
wool. On the contrary, staplers manifested additional
firmness in the prices they required, and the last sales
held in London appeared to satisfy manufacturers gene-
rally that there was no hope of easier rates prevailing.
Gradually mills began to run full time, and are, most of
them, doing so at present. Why wool should be so scarce,
we have had various conjectwes. Some have attributed
it to deficient production, and others to the fact that,
within the last few years, France has become a large com-
petitor; English wool having found there a good market,
and therefore large quantities are exported to that coun-
try. Flannels for the last two years have showri an
upward:tendency% but, as compared with last Christmas,
a good ordinary flannel may be quoted at fully 4s higher,
and during the last week a further demand has been made
and obtained of fully ls. These advances are barely
commensurate with the rise in woel, and it has required
the most cautious watchfulness during the year on the part
of manufacturers to conduct their business with safety.
Profits must have been meagre, judging from past and
present prices of wool. It cannot be said that there has
been any lack of orders, for many have been refused, as
the advancing price of wool did not warrant large con-
tracts being made. This was narticularly the case in the
spring, but as the year advanced, merchants became
additionally cautious as to the way in which they dealt
their orders out. For the last two or three months
trade has, therefore, been conducted on the principle of
supplying mere consumptive wants—there being no dispo-
sition to speculate. In Yorkshire goods, the money value
of the article is much the same as at the close of last year.
Generally a much larger quantity of goods is manufactured
here than formerly, and this, added to exportation of wool,
may have caused the present state of the market and trade
generally.

HANCOCK'S INKSTAND.—" Having two of the inkstands in
use at our publishing office, we can bear testimony to their
utility and enperiority over all others."—Derbyshire Adver-
t.ser.—Prire is 8d 2s 6d, 3s, and 3s 6d each.—Advt.
RAWLES' PECTORAL COUGH LOZENGES FOR THE CURE OF
COUGHS. COLDS, ASTHMA, SORE THROATS, &c.—These
Lozenges, which, for many years have held the highest
reputation, will be found a most invaluable remedy for all
affections of the lungs, relieving and s rengthening them,
thereby protecting them from future attacks of cold and
consequent inflammation. For hooping cough in children,
they are an infallible, safe, and pleasant remedy. Prepared
only by Terrick J. Williams (late Rawle), Pharmaceutical
Chemist, 79, Lord-street, Liverpool.—Sold in boxes at is
1-p, 2s 9d, and 4s 61.—Advt.
SERIOUS FIRE AT SHEFFIELD.—About seven o'clock on
Monday night, a fire was discovered on the premises of Mr.
Turnell, cabinet maker, Pinstone-street, Sheffield. It broke
out in the workshops, and, as a great quantity of dry timber
was stored in the adjoining yard, it spread with great
rapidity, and soon assumed an alarming aspect. In spite of
the praisworthy efforts of the fire brigades, the conflagration
was not extinguished until the contents of the shops and
yard were almost entirely destroyed. The total damage
will probably approLch £2,000. While the fire was at its
height, the inhabitants living close by were seized with a
panic, and the furniture was thrown out of the windows in a
most reckless way. Many of the poor creatures are left in
a distressing state. Mr. Turnell is insured, but only to the
extent of about £3OO.
INCREASE OF CRIME AMONGST FOREIGNERS IN LONDON.
—At Guildhall Police-court, on Wednesday, Sir Peter
Laurie called the sitting alderman's attention to the
subject of the great increase in the number of foreigners
brought up before the magistrates in the city of London,
and tried at the Old Bailey during the year 1856, for
various offences, some of which were for crimes of a
most heinous character. Sir Peter said he had obtained
a return from Mr. Weatherhead, the governor of Newgate,
which set forth the following facts connected with this
subject. During the last twelve months there was a total
of 67 foreignerA, of which number 40 were tried at
Newgate, and 27 summarily disposed of by the magis-
trates. No less than 32 were convicted by a jury for
various crimes and offences, including those of murder,
rape, forgery, burglary, and stabbing and wounding ;
the convictions for the latter offence being the most
numerous ; the remainder of the 40 being acquitted upon
their trial. Of those convicted, I was transported for life,
death being recorded against him, 4 were transported for
14 years,t3 were ordered for 6 years' penal servitude, and
the rest to different periods of imprisonment, varying
from 6 weeks to 18 months, with hard labour. Of the 27
summarily disposed of, 12 were sent to the House of
Correction for various terms, from 14 days to 6 months;
and the:remaining 15 were discharged. It was remarkable
that out of the total of 67 foreigners charged, only 3 were
females. Sir Peter said this year had been one of the
blackest he ever remembered for fraud and crime of every
description, and he hoped never to see such another year.
It was the black spot of England. He had been at some
pains to procure this return, and he intended to procure a
like return of the number of ticket of leave men, and he
hoped the result would be beneficial.