The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-10-24
FINANCE AND TRADE,
WOOL MARKETS.
NEW YORK.

iulOIncu anu uuOSU SdHdClUuo hSiJ -,
manufacturers AID dealers, both IN good'
and wool are looking for a reaction
Perhaps there never was time "nel
there was such q small stock OF goods
between the consumer and manufactur'
er, and rarely has there been tune
when the people generally were so bare.
ly snpplied with wearing apparel as al
present. The retail dealers have been
trying TO work of their old stocks at
old nTices and have blocked the wheels
of trade; this, however, cannot last
much longer, as many, having closed
ont their old stocks, are now selling
new goods at very reduced prices. This
will compel others to close oat their old
stocks at low prices, and will create a
demand; Tor just SO soon as the consum-
ers find that prices are at the bottom
they will DO free purchasers. ~ ~
1t is also generally conceded that the
amount of goods, take the whole coun-
try through, is small trade was never
healthier; it is like a man that has
been sick, cleared from everything like
disease, but weak he must first totter
along, then walk and then run, jump OF
walk, at his pleasure.
Business prospects are much Dettei
than they were year ago, and partlcu'
larly that of woolens; they are being
sold at very low lprices, and the wool
is sold at about 10c per pound less than
a year ago this will make l5c per yard
difference in the cost; labor, too, Is less
than it was year ago. There has been
in some mills q regular reduction 9TH
ers have not made n regular reduction,
but have made changes and other alter.
ations i'll manner which has reduced
the cost of production to considerable
extent. There is, too, at the present
time, more machinery in operation
than than there was year ago
in the hands, of manufacturers
there is much less wool than
a wear ago; some factories have a
good stock on hand, but few have
enough to carry them beyond the first
of February. Foreign wool is going out
of the country, and if the price OF wool
goes much lower 1t will pay to send II
to England. Secured Mestizas and
Canes are worth in England from soc to
65c, gold, or from sc to 94c, our cur
rency; while our domestic fleece IS sell
ing here at rs low figures, which would
not waste near as much in working as
either Mestiza or Cape, excepting the
very best, and would work for many
purposes much better. We do not think
there is any occasion for wool to be
sold lower than it has been, and we are
satisfied that wool has been in some
cases sold so low that a better price
might have been realized had 1t been
sent to Europe.
1t would be something remarkably
strange, If, in the very face of this re-
markably high tariff, wool should be
sent to England, and tue goods brought
back and sold in our markets. 1t would
not be at all strange if it should be
found, after all, that the amount ofwool
in the country is much smaller than
many suppose. The amount of foreign
wool is very small; and the amount OF
domestic wool produced will be found
far from sufficient TO carry us through
until the next shearing without the AID
of foreign wool 1t is much more prob
able that factories will stop this winter
for want of stock than for want OF de-
mand for goods. Although trade has
been dropping the past fortnight, and
people have been somewhat alarmed,
and have dropped prices, yet, we are
free to confess, We have seen no cause
for il only in groumdless fear
A GOOD deal of attention is being paid
to fine wool, Int in Il very qu ct man
ner for fear of exciting the market;
manufacturers are very conservative,
and rather given to jockeying at the
present day; We do not mean that they
are much given to fast horses or horse
trades: but it makes little difference
how low a price is asked for wool, they
always offer one still lower, and what is
rather remarkable they generally get
the wool. But there has been other
causes than supply and demand which
have tended to bring down the price OF
wool: the necessities of dealers-they
tried to carry so much more wool than
their capital would allow, and manuiac'
turers knew that the garrison would
have to capituldte from sheer starva'
rlon if they only kept out of the marNct;
and they did so, and dealers were after
them begging for an Otter-aHd they,
understanding the case, made offers ac-
cOrdingly, and got the wool. Coarse
and medium woods are scarce; fine woods
ale also scarce. There is the greatest
supply of X wool, but as two-thirds OF
the machinery of the country are of this
grade, n large supply is actually neces'
sary. The time of the year has not yet
arrived for either large stock of pull
ed wool to be on the market, or for
large demand. Domestic combing Is
getting very scarce, and there is com
paritively hut little Canada in the mar
ket. e..
The sales are about 10000 lbs, rang
ing from 40a57ic; for coarse heavy Xxx
including 10000 lbs Fleece, A2a47c; 30,
900 lbs Michigan, 15c; 10000 lbs tinel
grades, 50, 53a5ic: $4,000 lbs Ohio, OF
private terms; 1000 lbs Western, XA
and above, on private terms; 10000 lbi
Western, 42c; 10000 lbs Ohio, 47c; %,
900 lbs California, 25a30c; IS bale:
Cape. 43ic; 5000 lbs Combing, SIC; lOOC
lbs XX Ohio, sac; % bags pulled, pri
vate terms; 10000 lbs Low Texas, 22i;
23c, with choice lots at 2Sc; 10000 lb
Texas, 23a27c. Foreign woods are yer!
quiet.
BOSTON.
The wool market continues unsettled
and the demand for nearly all grades il
very slack. Consumers, with too man!
goods in their hands, and money no
over abundant, have neither the means
nor the disposition to operate freely
and keep their stock of material worked
close up. They make no complaint
that weol is not low enough, and think
it quite probable they may have to pa!
higher prices before the close of the sea
son; but, nevertheless, the commercial
and financial situations such, that the!
cannot afford to anticipate their wants
Holders, under the circumstances, d,
not consider it prudent TO press sales, a
the risk of q further giving way il
prices, which are now hardly remunera
tive to operators and consigners. 0u'
commission merchants are carryin!
heavy stocks, on which they made larg
advances. But none of them, as far a
We know, are disposed to sacrifice thei
correspondents. They meet buyers in
liberal spirit, and sell promptly whel
fair offer is made to them; but the,
are not giving way to any panic or press
ure, and reject all overtures that ar
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