The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1848-06-01

| WooL.-We take the following article in
regard to the state of the wool market, and
the probable prices for the ensuing sea son,
from the Philadelphia Prices Current. of the
10Th inst. The writer appears TO understand
his subject, and We commend his remarks TO
the careful pcrusal Of those of our readers who
may feel interested in this branch of trade
! In our article of last year on this subject,
We expressed the opinion that the price of
wool would be somewhat higher than they
were for the previous clip. The result has
proved that we Were not mistaken. From
the best information We can obtain of those
well acquainted with the wool trade, and the
general course of business, we believe prices
will rule lower this year than last; perhaps as
low as they were in 1916.
| We are led to this conclusion from the fact
that the quantity Of goods brought to market
the past year from our own manufactures and
by foreign importations, have been considera-
bly, greater than was required for consumption
hence the prices have been so much reduced,
that loss has been sustained ON many des-
lcriptions. Cloths that were sold in the spring
of lS47 al % TO 50 so per yard, have this
spring brought 81 IS to 81 Is. Other kinds
of goods have been sold at proportionate re-
lduction. Under these circumstances, no pru-
dent manufacturer will continue to pay last
summers prices for WOOL and sell his goods al
the rates'of this spring. Every country mer.
lcliant who has been TO the Eastern cities Car
testify to the exceeding low prices Of wool
len goods.
Some effect has alre ady been produced from
these cans es, for, notwithstanding the stock o
wool in market for some months past, hal
) been less than usual at the same period in for
mer years, the price has gradually declined and
still has downward tendency, and We canno
see that any improvement will take place il
the value of wool until goods shall advance
: which, from the quantity in market and tn
accommodating supply, may not be for some tim
10 come.
Little or no wool has been exported; bu
some that was shipped in 1916 has been pur
e chased in England, brought back to the Uni
ted States; and sold at fair profit. Consi DEF
!. able importations Of other woods have also bee
= made, paying a duty of 30 per cent. Thu
u showing the great advantage the English an
" other foreign manufactures possess in compe
e tition with our own, in the low prices Of ma
terials, In addition to the differences OF wage
: paid for labor. We presume that the price {
labor in this country will not be reduced belo,
: its present average rates, and hence are Undue
4 led TO conclude that the reduction will be mair
lily on the raw material.
The intercourse and business connection
.. between this country and Europe are very Ell
= tensive, and we cannot avoid being more
:" less affected by the occurrences that are no,
ne tax,ng place in several Of the nations there
IN The unsettled state of most Of these countrie
10 causes great uncertainty in any calculations
= to the results of trade between them and Il
" United States, or the effects that may be pr,
e, duced on the business of this country or OF
d. monetary arrangements.
a We have frequently mentioned the necess
lty of greater care in washing the wool an
cleansing il from all filth, such as tags, bur
he &C., and would not now refer to il but that v
is are assured there is still great room for impro
h. ment in this respect as regards much OF Il
wool that comes 10 market. We therefor
10 urge this matter as worthy the attention
ey wool growers.
With these views, we recommend cautic
in making purchases; for. while we are glad
r. see any or all agricultural productions yieldiI
full remunerating prices to the producer, v
ne should not be faithful reporters Of the value
On the various commodities and the general sta
isl of trade, were we in the present aspect Of b.
II siness to hold out encouragement for last yeaI
u prices for Wool.