The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1871-07-29
:Farm-@arnen-1eousebolo.


The Rise In tho Price Of Wool.
An uncommon excitement prevades ut pres
ent the usually quiet circle of dealers in wool
and goods made OF wool in this country. The
cause is the sudden rise in the price of the
staple, which commenced six or eight weeks
ago, and appears not, as yet, to have reached
its full limit. Common Mexican wool, which
used to sell at from IS to 20 cents pound, Is
selling at from 30 to 80 cents. Carpet woods,
usually at 80 cents gold, are held at 374 cents.
Cape woods have gone up from 30 to AZ cents /;
Australian wool, from AZ to so cents I; ana
what are called extra feeces, which are stan
dard in the wool market, like middlngs IN the
cotton market, are quoted at from u 10 OF
cents, as against AZ to 5Ocents six weeks since.
Even shearlings, which are the short wool
which grows on sheep between the tims OF
their shearing in the sprng and their slaugh-
tering in the fall, are used for making hats,
sell at 40 cents pound instead OF 20 cents,
the old price.
The various wooen manufactures have re-
sponded of course, to this rise IN the raw
material. Carpet yarns have advanced from
375 cents per pound to so cents per pound.
Two and three ply carpets are l24 per cent.
dearer than they were, and Brussels, which
recently fetched $l.95 per yard, are sold at
$2.l5 All kinds of woolen cloth and cloth
ing material have advanced, on an average,
10 per cent, with an upward tendency. The
utmost activity 10 manifested in the trade.
The manufacturers have orders ahead for
everything they can make for several months
to come, and, as Is usual the fear of the retail
dealers OF higher prices still to come leads
them to rush in and supply themselves at pres
ent rates.
The causes of the rise are manifold, and it is
entirely applicable according to wellkn0wn
laws of trade.
/. In the first place, the price of wool has
been exceedingly low for several years past,
SO that it has not been profitable in this country
to produce it. Hence, our farmers have, to a
large extent, sold off their sheep and raised
hogs instead. The result has been that in
1869 the wool clip was 90 per cent less than
1t was in 1868, and in 1870 20 per cent less
than it was in 1869. This alone might not
have materially affected the prices, but other
things come in just now to assist it.
2. The war in Europe created an extraord-
nary demand for soldiers clothing, and rap
id consumption OF it by wear, while at the
same time the withdrawal of so many men
from labor diminished the production of wool,
the sheep being slaughtered for food instead
OF being kept to shear.
g. The yellow fever in Buenos Ayers has
also stopped the shipment tor the present
from that port, of the immense wool clip OF
Brazil. This cause will soon cease to oper.
ate, but for the moment it is as il Brazil were
shut out OF the market altogether
i. Another element at work is the abun
dant supply of water this season, enabling
many mills to run constantly, which last year
owing to the drouth. were stopped for long
time. This practically doubles the demand
for raw wool
D. The great ease OF the money market Co
operates with the previous causes, and assists
to raise by furnishing not only the regula,
- dealers, but outside spectators, with mean:
to buy and hold large stock Of wool, anC
keepit out OF the marked. If money were
tight and nobody bought but the manu:ac
turers. and they only from hand to mouth tc
keep their mills going, the scarcity of the sup
ply would probably cause a slight advance in
prices. As it is, there is = teverish desire tC
buy for further rise, and this very desire
while it lasts, brings about its own apparent
qualification.
The prospect for the present is, as We hav,
said, very good for higher prices but the pro
duction Of wool over the whole world is &c
immense that any rise in particular marke
draws to that market supply from elsewhere
and soon restores the original level. This re
suit is helped, too, by the diminution, or a
least check of consumption, which Away
follows an increase of the price of any article
We should therefore advise our readers VIII,
are not in the wool business not to be tempted
to 90 INTO it in the hope of making their for
tunes. Those who are already in know NOR
about it than We do, and can probably tax
care Of themselves-Nep York Sun, Jill 8.