The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-07-10
The Wool Interest.

The trade III WOOL and WOOlenS dur
ing the past twelve months has been
unsatisfactory, both to wool-grOwers
and manufacturers. Wooden goods have
ruled exceptionally low, and the raw
material has declined in value, not
withstanding the prohibition of fine
foreign grades by the extreme duties
imposed. Briefly, the practical effect
of the present tariff has been to turn
the consumption more than ever before
upon the cheap Woods of California,
Oregon and Texas, and the commonest
grades of the Atlantic seaboard, and to
give foreign manufacturers greater
benefit of our markets for their fine
cloths made from comparatively cheap
raw materials. As consequence, the
low grades of Wool have borne high
er relative value than fine qualities.
without, any appreciable benefit to
home interests. The new clip of Wool
is now coming upon the market in
considerable quantities, but there APP
pears to be an entire absence of that
competition among buyers, which was
so conspicuous feature at the COM
mencement of the season, for the last
four or five years, and which, in the
West, took the form of rather extrav-
agant species of speculation. Specula-
tive competition i'll that section SO en-
HANGED prices that those buyers who
stand between the grower and cohsum-
er, found it more profitable to sell again
on the spot than to make consignments
to the leading Eastern markets; but, in
the end, the Wool found its way into
consumption at the market price,
though somebody, of course, suffered
pecuniarily by the operation. Events
have demonstrated that Wool can not
be forced into consumption at Fictitious
prices, especially when the trade in
manufactures is in an abnormal condi-
ton, as it has been for the last two
years; and, as the speculative mania
has been barren of good results to the
Wool interest, we regard its abatement
as an encouraging feature.
The opening prices of the new clip OF
Western Wool are ten to fifteen cents
per pound lower than last year, while
the California and Texas product, by
reason of the preponderance 10 the pro-
duction of low priced grades over the
fine grades, is quite as high as it was a
year ago, as will be seen by the follow
ing comparison of prices:
~ July, lsG7. July, 1856.
State and Western Fleece -. J0aGjc. ioajOc.
California, fair to choice. .25a5lc. ssa3jc.
Texas fair to choice .a.la:sac. sJa3ec.
As to the course of prices during the
year, we may remark that there Is moth
ing in the appearance Of the goods mar
ket, or the state of trade generally, to
warrant an early Improvements. The
natural tendency of commercial values,
with some exceptions, appears to be to-
ward lower range. The era ofinhation
has evidently passed the eliminating
point, thoagh the normal condition of
trade will scarcely be reached until We
return to correct principles in finance.
The condition Of the new Wool thus
far received, shows, on the whole, q
slight improvement upon that OF last
year, though it remains to be seen
whether there has been any general re
fern in the business Of preparing the
staple for market or not. 1t is known
that strenuous efforts have been made
within the past year or two TO correct
these long. standing abuses, which have
tended to bring the whole business into
disre pute by compelling honest grow
ers and dealers to share the odiun that
has followed the fraudulent practices of
the Inscriptions in selling dirt and ex-
for clean Wool. 1t is high |
time that greater discri min alton were
made i1 preparing and classifying Wool
for martet than heretofore. The neces-
sary distinction should, in all cases, be
made when the article is purchased
from the farmer, and then only those