The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-06-08
WOOL CIRCULAR.


PARLIAMENTARY Juu6I o. Ois
we issue our Annual Wool Circular
for 1851 in a season of great depression
with manufacturers. The decline in
has been gradual and steady. Al
though mill owners purchased wool APP
parently low enough, still most kinds
of fabI les have yielded no profit, whilst
many have entailed heavy and positive
losses. This being. unfortunately for
the country, the condition Of affairs
just as the new clip is being prepared
for the market, will beget, on the part
OF dealers and manufacturers, great
caution in purchases. Its influence is
felt already in the settled policy, now
almost universal, of buying just
enough to keep mills going on abridged
time. This unusual and unlocked
for depression in the goods trade,
has reduced the current consumption
far below what was anticipated. It
has forced the mills to adopt short time
and limited production. Therefore, the
| present supply of domestic wool though
/ not large, is sufficient to bridge over TO
the new clip. Whilst manufacturers
are losing money they are OF course not
| anxious to purchase. They know the
new clip will be large, and feel that
prices cannot go higher. Indeed, they
will be compelled to suspend opera
lions altogether If higher than present
rates are demanded. As these conflict
| ing interests face each other squarely,
the grower knowing from the price of
manufactured goods that the manufac-
turer has little or no margin, and the
latter feeling in his shrinking capital
the absolute necessity of caution, 1t is
hardly probable that wool prices will
vary materially during the balance of
the season. II, however, the present
depression in the goods trade should
run into the fall season, those who sell
their wool in the summer months will
realize better prices than holders for
winter and spring sales.
The new crop OF wool is generally es-
timated at fifteen millions pounds
larger than the clip of 1866. Specula-
tors have not yet forgotten their mis-
fortunes for the past two years. This,
with the stringency in money matters,
will keep these active operators, gener-
ally, out OF the western market; and
growers therefore need not look for the
usual number of buyers, this season, in
the wOol-prOducing regions.
The influence that foreign woods will
have upon prices of American, is fairly
stated by a leading Commercial Jour
nal, which says the movements of for
eign wool will also be observed with
much interest. at present only such
lots of fine staple as were imported be-
fore the last increase in the tariff rate
can be put on the market without
positive sacrifice to owners. The guam
tity of Cape wool held in this country is
very insignificant. Most of the new
crop Mestiza, now held in bond, will
have to be re-shipped to foreign mar
kets. But the ultimate effect OF this re-
shipment and exclusion will probably
be TO depress those markets to point
which will overcome the difficulties of
our tariff, and send the wool back to us
at a greatly reduced cost.
Below we give the transactions OF the
past week. The figures will serve as
guide to purchasers in the West.
The market has been extremely dull
and weak, there being no inquiry, ex-
cept TO supply the immediate and press
ing wants of the manufacturers, and
our quotations are entirely nominal.
The receipts, as usual at this period, are
extremely light, and the stocks very
small, yet there are some anxious sell
lers. a few small lots of neIU wool have
been received from Delaware and New
Jersey, which found buyers at 40 cents
for fine unwashed. At present high
figures there is no margin for manufac-
turers, and they must have cheaper
wool and labor, or cease to operate.
The RaIaa