The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1872-03-06
THE WOOL TRADE.

New York Shipping List, February -.
The consumption of wool, in this
country and Europe, has 50 far over
taken the supply that the extraordinary
advance OF fifty to sevcnty-ive per cent.
has taken place during the last twelve
months, in the great distrbutive
markets on both siles OF the Atlantic
| a some kinds, indeed the appreciation
has been still greater, and from present
indications, the limit OF the advance
has not yet been reached, the supplies
in our own and in neighboring markets
being SO small as TO give sellers a
decided advantage in prices. The
course ofthe market for this staple is an
apt illustration of the axiom about one
extreme following another. During our
civil war, the demand for wooden good.
to supply the army and navy, and as a
substitute for cotton gools among the
masses, because Of the scarcity and
high price of cotton, led so enormous
an increase in the production of wool
ems, that when the war stimulus was
Withdrawn, the home and foreign mar
kets were fairly glutted with these
fabrics At the same time, cotton once
more became available, and its pro
ducts were soon afforded at such popu
lar prices as TO materially lessen the
use of woolens. The consequence was
a long period of depression OF the mar,
ket for both wool and woolens followed,
during which prices fell below the point
at which it was claimed wool growing
in this country was profitable, save in
Texas, where the grasses are perennial.
and in California where the climate is
so mild that the flocks live out all the
year round. Hence the sheep husband
men of OHIO, Michigan, Pennsylvania
and other Western States la no other
alternative than to get rid OF their
flocks, which many of them did in 1868
60 by the summary method Of
Strengthening them for their pelts.
Meanw lille, the duties on foreign wool,
which had been raised in 1866 to a
nearly probib,ive point, kept the sup
plies from abroad so low that the tone
of the market began to strengthen in
1870, since when prc have reached
nearly the level ofthe highest range Of
the war, If the difference in the gold
premium is taken into account In
TACT wool can be grown at present
prices at handsome profit TO the
grower, and as a consequence the
Western farmers are again going ex-
tens:vely into sheep husbandry evidence
OF which is afforded By the diminution
in the supply Of sheep coming into
market Tor mutton. There is another
cause for the great advance in wool the
last year or two, and that is the limita-
ton OF supplies in the great producing
countries, viz: the Cape. OF Good Hope,
Australia, and some portions OF South
America, aud the sharp competition
among the buyers OF Europe and this
country. Considerable supplies have
been purchased by American dealers
and manu- facturers in Australia, most
OF which is yet to come forward, direct
and via San Francisco. The present
high prices Of wool are pretty certain to
stimulate the production all over the
world. vet the great markets of Europe,
as well as our own, are so nearly bare
of stock that it may fairly be assumed
that considerable period must elapse
before the supply will be likely to again
largely exceed the consumption, in
which event the opportunity may be
presented to our large wool growers
not only to make up for any former
losses, but TO amass a handsome
competence.