Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1866-06-13
For the Chronicle.
The Ohio Wool market.

The Season ofssheep shearing IS now upon
Us, and with it comes the question of what
shall be the price of wool. Having spent
most of the pas. month at the public shear
ings and meetings of the wool growert, this
question has been constantly asked me and L
have made such answer as, according to the
best of my information, subserve the truth.
l think no person can say confidently just
a. what wool Will be worth a month hence, or
st what price farmers ought to insist upon, but
so far as l have any opinion to express, L
will give it, under the above qualification.
In the first place, as to the causes which
will affect prices this season. The pending
tariff measure agreed upon by the Joint
Committee of the National Wool Growers
and National Manufacturer Associations,
can operate only progressively. The bill
has not, at this writing, been reported TO
-Nl Congress BY the Committee of Ways and
Means, so that the nearest possible time OF
its passage is too far in the future TO have
a very direct influence in determining the
price which shall rule for our woods IN June
or July. But the prospective and collateral
influence of this measure will be considerable.
aJtLet as calculate:-With an impost duty ten
cts. per lb. and ten per cent. advaloren on
foreign wools-of which foreign woods 1t
takes two pounds to be equal to Ole Of Amer
lean wool-to the American wool grower
twice ten cents per pound, and twice ten per
cont, say twenty.three cents; add to this the
cost of the foreign wool, say, at fifteen cents
per pound, equals thirty cents, making N all
fify-three cents, besides exchange, storage,
&c, and the American wool grower VIII have
his own market at an average of some sixty
cents per pound. Even under the presnt de-
lusive tariff, tits stated in the last report of the
Boston Board of Trade, by one of the best in
formed wool dealers in that city. that even
at q cost of tWenty-four cents per pound, the
Importation of Mestixo woods the past season
had not been remunerative; and this while
American wool is quoted at fifty to ffty-fve
cents. If this calculation is correct, think
the American wool grower has abundant rea
sonto be satisfied with the prospective con-
dition of the wool market.
Another and more Immediate cause effect
ing the price of wool in 1866, is the fact that
the eastern wool houses are unusually bare,
not only of foreign, but of entire and desira-
bic lots of domestic wool. The operationsot
manufacturers within the last few weeks have
cleared the eastern wool houses to an extent
below that of any other time, at this season,
within the last five years. Meanwhile the
machinery of the wooden mills has been in
creased fully fifty per cent, requiring a SUPP
ply of one-third more than than all the wool
raised in the United States, to keep it in even
moderate operation.
These two main facts-yiz: the unprofta-
bleness Of importation, and the necessity Tor
domestic wool, the status Of the market at Its
present opening. -.
The wool buyers are already in the field
Win the expressed OeBermlHdllOu 70 I'm Ao
new clip at range OF from forty to forty71Ve
cents. Formerly it was the custom, just be-
fore the sending out of orders to purchase
wool in the spring, to get up q sham sale IN
Boston, or New York, and send out q fasle
report of prices; but as this practice can no
longer deceive intelligent men, the specula-
tors have resorted to 8 system Of decrying
the condition Of our woods, and for this. Pur-
pose have held meetings in Michigan and
Ohio, adopting rules both impracticable and
unjust, and putting forth declarations con,
corning the practices Of wool growers whose
impotence is only equalled by their false
hood.
But the farmers have wool to sell, and
these men viii come to buy It. Every far
mer must decide for himself how he will dis
pose of his wool and the price at which he
Will hold it. 1t is always most satisfactory
to the farmer to dispose Of his stuff at home
for cash in hand, and when satisfactory eff
er of this kind ismade, 1 should say, take it
But let no farmer be deceived by specious
arguments, as if the bottom was about to fall
out of the market. There can be no predic-
ton in trade at this more certain Of fulfil
ment than that wool must advance from pres
ent quotatations and although the published
rates are from forty-fve to fifty cents, l know
of considerable purchases already made in
Ohio at ~ffty-fve to sixty cents, and 1 know
ofno good reason why all the better class OF
good conditioned Ohio wool should not COM
mand the outside figure within the next two
months.
Believing this, as I do, from a canvass of
the whole field of production and consump-
ton, 1 send forth this Statement TO the public
: for the consideration Of such wool grow or
as are constantly Inquiring of me-What
are the prospects of the wool trade this sea-
son? II
s. ID. HARRIS
Secretary Ohio Wool Growers Association,
and Agricultural Editor Ohio Farmer, Cleye
land. June 5. 1866. |