Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1859-02-10
The Wool Trade.


We copy the annexed remarks on the Wool
Trade of the past year, from the annual circular
Of Geo. w. Bond Co., of Boston
The year which has just passed will long be re-
membered in the Wool trade. 1t opened after the
commercial crisis Of 1851 had stopped large por-
ton Of the machinery, with great depression in
prices Notwithstanding an unusually small stock
of domestic Wool. The estimate of stock made
by US in our last animal circular, though based
upon the most careful investigation, we could
scarcely credit ourselves butthe result has proved
its accuracy, for, with little addition TO the
chinery, we reached the new clip with exhausted
stocks of Domestic Wool and such Foreign Woods
were adapted to the manufacture of fine Wool>
ems, upon which nearly all the clothing mills were
running. We were aware, as we have remarked
in previous Circulars, that under the peratDn of
the tariff of Is46, the Wool and Woolen interest
had declined materially, but we we're not prepared
to 6nd that the clip Of the United States had fall
off from 50 500 600 To- in 1856 to less than 40,-
000, zoo ID. in 1855, which we think these figures
fairly indicate, and is further shown by the fact
that half Of the present year only having passed,
there remains but about 5000 900 h. for sale. 1t
must be remembered that great influence had at
that time or has even now. been realized from the
modification of the tariff in 1857, as it had been in
force but two months when the great check came
which paralyz all trade. There was last year an
unusual accumulation of Foreign Wools mostly,
however, of poor and undesirable descriptions, the
bulk of which remained on hand until quite a re
cent date. Prices opened unusually low and grad
ualy improved, reaching. however, no eonsidera-
bic advance until the period Of the clip, when
they opened in the Country at like low rates, but
soon improved, and it was rapidly taken from the
growers at advancing rates, which have continued
to improve until the close ofthe year, when nearly
all the decline of the previous year was recovered,
notwithstanding a general sluggishness in trade |
which prevented corresponding improvement in |
most styles of Woolen Goods. The business of the |
year has been unusually steady and uniform, and |
far less marked by speculative spirit than is usual
with an advancing market, with money abundant |
We think manufacturers are generally much better
supplied than they were year since, and have /
therefore little doubt that the stock of Manufac
tured Wool is as large it then was. There is,
however, a buOyant feeling among manufacturers
OF all classes, with firm conviction that there
must be considerable Improvement in prices of all
grades of goods which, if realized will increase
the demand for the raw material The stock of
Foreign Fine and Medium Clothing Woods has
been freely tax en- at full prices, and there is evi.
dence of demand arising for the low grade,
which will soon absorb the small stock in the
Country. The low woods, suitable only for Carpets
and Negro Cloth, have not partaken Of this i'm
proEement, and with the exception of good eombing
descriptions, bringing but little if any higher
prices than they did at the commencement of the
year. The stock however, being reduced about
Onethird Of what it was, and prices being too high
in the markets Of production to enable importers to
sell at such rates, they must have their turn.
The importations of all descriptions of Wool to this
port for the year have been 4I4 per cent less than
in 1857, and 10 per cent below the average of the
previous six years, and we have no doubt there
las been an equal falling off to other ports. The
course Ottrade in England has been much the
lame as here. Commencing very low, and contin- !
ling so for the FIRST half of the year, then regular
lnarapia improvement following until at the close
inc Wools have reached rate nearly as high as
lere, and Notwithstanding an importation larger .
han any year but 1857, and export much small +
T, with almost no speculative operations the stock
n the market at the close of the year was unusual
small, and like our own, consisting chiefly of the
oarsest and most ill>conditioned sorts which bava
lot partaken of the general advance.