Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1866-11-07
Wool Markets.
NEW YORK.

According to the Economist, the market is il
more unsettled state than at any time for some
years Holders of wool are not only anxiously
looking for buyers. but for the right kind ofbuy-
ers. The experie1ce Of the past week has tau zht
them that il is better to hold the wool than u
sell indiscriminately. as has been the case now
the wooden business has been so good, and man
ufacturers haT been making money so rspidly.
that dealers had almost forgot to ask the ques-
ton whether the parties were good or not. hav-
ing adopted the rule that any one who owned a
set of WOODEN cards vas good for any amount -
The failures of the past ten days of some of the
most reliable esta blishments, have started a few
new ideas; and the shadows Of gloom. distrust
and dependency have taken deeper and dark
er hues; and each one asks his neisn COZ that IS
best to be done, but receives no answer. for none
can tell There are very few, indeed, who are
making money; but tue numbers are scarcer
Who dare to say that they are losing money
The market for wOolensI is as uncertain as that
for Eo'l; and there appears to be no signs or re-
lief for either,
The tariff. says the Economist, is talked about,
Legislative schemes are brUachedI some are OF
the opinion that the great panacea for oil the
difficulties lies in increased protection 10 the
wool-grOwlng interest; never once giving the
manufacturing interest the slightest recognition
taxing il for granted that their interests are
well cared for. and that prinoely fortunes still
await every one who can possess him elf Of a
water wheel. Not for a mOmentsupposing that,
under the existing state OF things, they are fast
The sales for the week include about 450.0 Ds
fleece, ranging at 45965c-Yery little at either
ext-sme-including 10000 Ms Ohio. Virginia
and New York State. to a large Eastern mill, on
private terms; 5000 fs pulled at 4O@45c for
Lambs, 5Q@5oc for super, and 54S60c for extra
10000 ms Texas at 259S2c for good Native. and
2@24e fer Mexican breed 5000 ms California
at sc for Spring clip, and 45c for super pulled
40 bales of Short Merino pulled, 40c; 1000 Ds
Santa Fee, 24c; 200 bales of Mestiza. sO@32c ;
l6.0J0h unSashed fleece, &Hc; 5000 ms comb
ing. 59S0c; SO bales shearings, 692sc; 5 900
ts Cape. 261Sc; 50 bales Neg Orleans, Sic; and
some other Cape, on private terms,
BOSTON.
The wool market remains very dull. and ex-
hibits DO Improvement either in demand or
prices. The latter, says the Bulletin, continues
to be very unsettled. and are. if any thing q
shade lower than previously noted. Only cheap
are wsrranted-'hough all on the market
that goods are not selling at any margin, and
production cannot go on unless raw materi-
al can be obtained at ridiculously Low prices;
value of wool fabrics is all put upon the should
ers and taken out of the cost of the single article
Of wool. The cost, Of manufacture in other re-
spects, Is very nlgn, and remains where it vas
during the war, when goods were paying a fair
profit. Skilled labor, machinery, coal, oil and
i~yestuffs. still command extreme rates and hence
the only compensation for the decline in goods
IS to be found in the falling of in wool prices -
The staple is unnaturally depressed because it
has 10 bear a disproportionate share of the bur
lens Of contraction, and unless some other mode
AN be devised for relieving the manufacturing
aid reducing the cost of production,
both this and the Eool-groHing interest are
il kelly TO come to grief.
A high tariff carrying up the price Of goods is
lot the proper remedy. inasmuch as prices are
fully as high as consumers are willing to
but II Congress would cause il to take of
ne manufacturing tax and remit the duty on
articles which enter into this branch of
reduction, there would be less room for foreign
and a better chance for wool to sell
TemuneTaiVe rates,