The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-24
FINANCE AND TRADE
WOOL.

The New York Economist reports more
activity IN the market, caused by the
willingness of holders to close out their
stocks at reduced rates, rather than
run the risk of competing with new
woods, which it is expected will be put
on the market at lower rates than the
old wool has been bought; they have
also thought il advisable to Accept low
CT uners from these parties who could
90 into the country and purchase at
rates which they could not afford to
pay; for 1T is certain that dealers cannot
buy in competition with manufacturers,
for local agents have much easier time
buying for the mills than for dealers.
A cent Ut two per pound is not noticed
so much by the manufacturer; he is sat-
isfied if he can get his wool cent or
TIVE less than he can buy it on the mar
ket, and it is seldom that the buyer
hears much from unconditional wool or
iunwashed, when it goes the mills, but
when it goes to dealers he hears from it
rather sharply, for manufacturers will
accent wool bought direct from the
farmers which they would not from
dealers; these they scrutinise closely,
anu CIulul lOI NuulCNNl Chuuub NC
strictly called understandable.
Dealers have preferred to sell their
wool rather than hold, thinking they
could replace at full as low figures as
those ct which they sold, although at
the present time this is a debatable
question, for if number of manufac-
turers 60 West, as they have done for q
number of years past, and give a num-
Der of small orders, they will find that
wool will not be bought quite as low as
they expected; yet it is certainly decid-
edly better to have wool fall at this sea-
son of the year, than it has done several
years past-advance, and have commits
sion agents running West and urging
the local buyers to ship their wool right
along and take the cream ofthe market,
and those who succeed in getting their
wool in the market first. did get the
best price, for they broke the market,
and it was a sorry time for those who
came after, for the market broke, and
we have had during the whole year :.
succession of breaks-it has been little
else than series of spasms.
Wool sunk in price from the day the
first lot of new wool was put upon the
market till the first of December, then
there was spasm; it went up little,
and drove manufacturers out of the
market; then, in order to induce them
to take hold, prices were again dropped,
and the next spasm we had was caused
by the wonderful magic "ring;" prices
again went up; manufacturers again re-
tired; crumbs were thrown out, but they
would not pick at them; then sops were
held ont; these brought the manufactu-
rers from their retreat, when the "ring"
brigade marched out with their tails
down, their colors trailing in the dust,
and made IA unconditional surrender;
but their inventive genius did not de-
sert them even in this their boar OF
greatest discontinue, for they said they
had done just what they intended to do,
break down the market just at the time
when the new clip was about to be Of
fered; and this, they say, affects prices
favorably, not for few weeks, but for
whole year.
Well, we think every man has right
to make the best plea he can in his own
defence; that is, if plea is necessary.
All kinds of wool have alike suffered,
perhaps the finest the most of all, yet
medium, which have been very scarce,
have also shared the fate of other woods
to some extent; the arrivals from Texas
and California have affected these to a
considerable extent.
The sales for the week will aggregate
about 100000 lbs fleece, ranging from
40a54c; pulled super and extra range
from 42a50c, with sales of rs bales at Asa
Acc; 5000 lbssuper 44c; 5000 lbs do extra
SOC. -
We add price current Of wool in
New York which is as near right as can
be at this stage of the market:
OHIO, PENNSYLVANIA AND VIRGINIA.