Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1871-09-14
TIE Cause OF the H,gh Price Of Wool.

An uncommon excitement perva1ps at
present the usually quiet circles Of dealers
in zool and goods made of wool in thls
country. The case is the sudden rise in
price of the staple. which corsmenrad
some tx or eight weeks ego, and appears
not as yet to have reached its full limit
Common Mex lean wool which use 10 sell
at from Is TO 20 cents pound is selling
at from 30 to 81 cents Ca. pet Bools,
usuallu- e4n->ai - 50 e~.s. r--l7,-f.4
as 81 cents. Cape wooIs have gone aD
IRON 30 cents 20 20 cents Anseralian
wool from 70 cents to So cents; and. hat
are called extra fecces, which are a atau.
dar1 in the wool market, ike m>ddlncs
IN the cotton market. are quoted Of from
oil to 04 cents, as ag&ins, ~ to so certs
six weeks since. Even ahearli;.ea. which
are tbs short wool which grows on sheen
between the tine Of their sheaT'ur in 40
spring and their slaugbteying in iba fall,
and are nsed for making hats, sell tt 20
cents pound, instead OF 25 cents, the
old price
The various wooden manufactures haze
responded Of course, 10 this rise IL The
raw material. Carpet yarns have adyeno-
ed from 81 cents per pound 10 SO cen Is
per pound. Two and three ply carpet,
are l23 per cent, dearer than they were.
and Brussels, which recently fetched
$l,95 per yard, are held at Sis. All
kinds Of WOO len cloth and clothing materi-
al have advanced on an average 10 per
cent, william upward tendency. The
utmost activity is manifested ia the trade.
The manufacturers have orders ahead for
everything they can mike 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 AMI
s.p ly themselves at present rates.
The causes Of the rise are manifold, and
it is entirely cxplicab!e according to we'll
known laws of trade
l. Ii the FIRST place the price Of wool
has been exceedingly Iow for several
years past, so that it has not been pro-
ftable in this country to produce it,
Hence our farmcrs have to a large extens
sold off their sheep aud raised hogs ia
stead. The result has been that in 1853
tbe weol clip WAS twenty Per cent. less
than in 1868. and in 1870 twenty pev
cent. less against that in 1863. This
alone might net have materially affected
the price, but other things came in is.
assist it.
2 The recent war in Earape created
an extraordinary demand for soldiers
clothing end rapid consumption e it bv
wear while at the same time he with
drawal of so many men from labor dlmin-
lshed the production Of wool, the sheep
being slaughtered for food instead Of be-
ing kept to shear.
3. The yellow fever in Buenos Ayres
has also stopped the shipment for the jns-
mcnse wool clip Of Brazil This caase
will soon cease to operate, but for tbs
moment it is as if Brasil we're shut ous
Of the market altogether.
4. Another element at work is the
abundant supply of water this season,
enabling many mills to run constantly,
which last year, owing TO the droutb,
were stopped for long time. This
practically doubles the demand fer raw
weol.
5. The great ease c. the money market
co-operates with the previous causes, and
assists the rise by furnishing rot only he
regular dealers. but outside spocrl8 .ors,
with means to bay and hold a large stock
of wool and keep it ont Of toe market. II
money were tight and nobody bought but
the manufacturers and they only from
hand to month to keep their m;Iis seoine.
the scarcity Of the supply would probably
only cause a slight advance il Driees,--
As it is there is feverish desire to buy
for further rise, and this desire, ahiie
it lasts, brings about its own apparent
qualification N T. Gm.