Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1866-05-16
Wool.


From the U. S. Economist of May 5.
There is more tone to the market than there has
been for some time past. Holders Of wool are
frmer and not at all disposed to press sales; the
sale in Boston last week, has tended to give char
acter to the market; prices realized at the sale dis
appointed most happily the most s~anguine. There
has be en- no auction sale for near two years that
has given so much satisfaction to the trade as the
one Of last week; this, no doubt, was caused IN a
great measure BY the very low figures At which
wool had sold for a few weeks previous. The gen.
eral feeling is that wool is now at a price to war
rant manufacturers to continue production at the
present prices of goods, although they cannot af-
ford 10 meet any adyancs in yoolens. the largo
amount of foreign goods upon the market pre-
vents this; while the small amount of wool in the
well known, however. that there is a con siderable
quantity Of wool in the hands of farmers and
Western dealers. and some of these are holding
with the expectation that prices will be some bet
ter. Woods and woolens may now be considered
as down in price to a gold basis; in fact, with these
been anticipated, and so long as wool keeps down
on a par with gold and currency, it is perfectly
safe for manufacturers to operate; but the loss
they have sustained by manufacturing goods from
wool bought with gold at 14S. and Us. will be a
sufficient warning to prevent them from paying a
con fdence that gold will remain even at its pres
emit price. With prices where they are at present,
there is every announcement to hope for q steady
demand, aud we do not think it will pay holders.
whether farmers or dealers, to hold for higher
prices; for if they should obtain all they demand in
the form Of q tariff, yet the further decline in gold
will more than counterbalance whatever advan-
tage they might obtain from an sdvance in the
tariff.
demand than they were through the winter. while
the finer grades are less in request; the result is
that the finer woods although scarce in the mar
ket, do not command comparatively so high a
tinue to sell at high figures. Woods from Canada,
il is highly probable, will have TO pay q higher
tariff this summer; this will keep up the price al
though gold may recede. There is something
cheering in looking forward to the future Of bus
in less, now that gold is so near par. We feel as
though the slippery sands upon which we have so
long been standing are nearly all slid from under
our feet, and we were fast settling down to the
farmers may be determined to hold for higher
prices. and manufacturers may prefer to stop
their factories. rather than manufacture with a
prospect OF loss before them.
The winter and spring thus far has been exceed
ingly dry; springs and ponds are low in New Eng
ANA an9iii An eom sao sacto may L Phys Re az h ory = month as
June. Taking all things into consideration, we
can see no profit to the farmer in pressing too hard
for an advance on present prices nor do We think
it Wo qld be at all iudicious for manufacturers to
attempt to force a further reduction. Supply and
demand will regulate the price, and we think I'M
anced as to exclude all possibility Of any great
change in price.
The new clip is being talked about. though yet
prices, prospects or the elipI but our advice would
be TO growers not TO hold On too tenaciously, but
g sell when prices offer that are fair and afford a
ssy new clip were offered in P6iiadelpSia the past
week,
The sales for the week include 1000 900 ms domes-
tic fleece, ranging from 4e960c., mostly 4960c;
10000 ns Southern, &c; 10000 Ms Texas, l5@30O
200 bales Philadelphia Merino pulled butchers
Associationl S4e; $1,000 ms pull e, S955s; 1880
300 bales Cape, 32a3Sc; $50 do Mestiza, avraEe.
2le, gold for No. 2 &c. gold for choice Merino, and
SOC. gold for Montevido MestiLa; 5000 d Cape, 42c;
1900 Ms California, sc; 1900 ms " hshed New
Orleans, 421zc; 6@8.00O ms unEashed do, He; 100
bales Mesti1a. and "a bales Cape, on private terms;
900 ms Noils SOC,