The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1870-09-27

During the past year the market tor
domestic fleece woods has been subject to
great depression, consequent upon the
sluggish condition Of the weolen goods
trade Broadcloth is now worn much
less than heretofore, aud the demand for
the finest varieties of wool is small, as
compared with that for the coarser
qualities Manufacturers have bought
very spariugly Of all descriptions of the
raw material, and the market generally
has proved weak. Prices Of domestic
grades for several months past sustained
steady decline. and the trade lacked
life or animation. The frequent failures
Of manufactures and commission mer.
chants gave rise to distrust, and wool
dealers were disposed to sell only for
cash, or on the most undoubted credit.
The lower grades of coarse woods were
the most sought for, but these came into
competition with foreign and California
woods, in consequence Of the relatively
low prices Of the latter.
The steady demand for foreign cloths
is slso promotive Of injury to our home
manufactures. In spite Of the superior
quality Of many varieties Of our domestic
made goods, there appears to be no ma
terial abatement 10 the importation Of
English and French fabrics.
As class, our manufacturers have
been heavy losers from depreciation in
the value Of their goods. and in many
cases the latter have sold considerably
below the cost of production. This loss
in Q measure, arose from two causes, not
previously stated. that We shall now con-
slider in detail. Manufacturers have all
along failed to see that their interests
were identical. They have for the past
two seasons rushed into competition with
each other in the Western markets, in
their purchases of needed supplies of the
raw material. Their action was attend
ed by great excitement, and they very
recklessly run up prices to figures much
in advance Of the ruling rates prevailing
in New York and other Eastern cities.
The consequences of this indiscretion
could not be other than disastrous. The
cost Of their goods was greatly enhanced,
without any corresponding increase in
the selling rates. Another feature preg.
nant with loss to both dealers and manu-.
facturers was the numerous failures that
occurred in both the wool and woolen
goods trade. These occurrences repeated.
ly threw on the market large stocks Of
goods at very low prices. which resulted
in demoralizing the regular and legitimate
traffic In wool and woolens. The customary
outlets from the distribution of these
staples was clogged up, which led to still
further embarrassments in mercantile
circles.
Even with reported short crop Of do
mestic fleece wools prices continued to
recede until the opening of hostilities in
Europe. Since then the advance in gold
has given more confidence to holders.
The market now rules buoyant, and desi-
rable wools are selling at higher rates.
II the war continues it is more than like
ly there will be an active demand for do
mestic 6eeces, and also for the better
grades of California and Texas woods.
The WOODEN goods trade as yet shows
only moderate signs Of activity, but with
an upward movement in wools, an
increased demand from abroad for many
Of our leading agricultural products, We
may anticipate Q gradual return to a
quicker and better market for our manu-.
factured goods.-Jo9rmal Of Commerce.