The New York herald., 1872-11-12
WOOL AND COTTON.

The Loss or Wool Slight and the Market
Quite Firm-Cotton Steady and the
Losses Trihing. m
Owing to various and conflicting reports re.
ceived during the past two days from Boston By
telegraph to the morning papers and to certain
business houses in this city, which seemed to ndt-
cate an unsettled state OF anairs in the
wooLLEN AND COTTON MARKETS.
HERALD reporter was despatched yesterday
afternoon to visit the different wool and cotton
houses below Reade street for the purpose
OF ascertaining the true feeling fn the TIVE
branches OF the trade. 1t was observable that
nearly every nrm called upon were chary OF giving
figures statements, fearing to take the RESPONSE
biity Of making any statements at present when 50
much exaggeratlon Ia anoat and has gained 50
much credcnce.
The statement that 8,00o, 900 pounds OF wool had
been consumed by the Boston 0re was pronounced
by partner in one OF the leading houses Of tho
city, II not In the leading dry goods house which
uses more woolen fabrics than any other, to boa
MOST ABSURD AND INCREDIBLE
tmpr0babity. This gentleman, whose name can
not be used In this instance, stated that he he.
leved it to be certain that at the time OF the fre
there were not more than 100000 pounds Of
wool stored in Boston, including the foreign as well
az the domestic products or this amount he CAL
culated that there were two or
THREE MILLION OF POUNDS
OF domestic wool and four millions OF pounds OF
freight wool. Then the parties who had large
amounts Of the material on hand for months past
look upon this Hre in Boston as a godsend tnat
would bring them speedy purchasers for the stock
held on hand. They would certainly try to bull the
market in the wool interest, and 1t Is from such
men as these that
THESE EXAGGERATED STORIES oAME
to alright merchants, wh0 II they would look into
1t, would be certain to laugh at the trick being
played upon them. Last year the United States
ported into the country one hundred to one nun
dred and ten million pounds OF wool. There have
been much larger receipts OF wool in
PHILADELPHIA THAN IN BOSTON,
and much larger even than IN New York. The wool
might average fifty cents pound on the higher
grades, such as shawl wool or wool for fine cloths.
II 5000, 900 pounds of wool had been destroyed In
Boston, and II 1t were OF seasonabe quality, that
would be dead loss Of g, 600 goo to some person
reason that the bulk of the wool was stored on the
wharves, which were not in, but were quito q dis
tance from, the burned district of Boston. The
LOWEST CLASS OF WOOL
used for carpets and the higher classes for de-
to sixty cents pound None ofOur large wool houses
in Boston, such as Hilton, West Il Co.. George VIII
liam Bond Toster \ Co. Ca and ~ many any Others, would
burned district. and as
EIGHT MILLION
pounds of wool would amount to 900 bales, there
has not as yet been any authorized statement
that even 1000 bales have been burned by the fire.
The large houses who deal In wool are said to be
to Europe on the ocean steamers. 'Now," said
the partner OF this well known house, 'nOne OF
these wharves are in the burned district, and tho
story OF the destruction of 100000 pounds falls to
the ground. 1t Is more than probable that
THE LOSS OF WOOL BY FIRE
in Boston will nearly reach 100000 pounds ana
all additions to this story are merely made to bull
the wool market in the interest
OF COMMISSION CoNSIGEEES."
Among those spoken to on the subject were the
firms OF Walter Brown & Co., Park place; Patter-
son, Son & Co., Jacob Busch, Samuel Lawrence,
Greene Siebert and other firms In Reade street
aud the vicinity. All these firms seemed to think
that the losses were greatly exaggerated, and that
Boston not in anything like the state OF panic
that was represented.
Among the cotton merchants there seemed TO be
a feeling OF confidence and security. The state
ment that 5000 bales OF
COTTON HAD BEEN DESTROYED
by IRE was pronounced to be scandalOus fal0e-
hood, there was computed to be but 3, 600 bales
of cotton In Boston on last Saturday, and OF this
number 1t Is estimated that not more than $50 to 600
bales were destroyed, and 1t Is believed on good
authority that losses which are covered by IN
surance In the raw material will not amount to
more than 100000. The Cotton Exchange was
quite steady yesterday afternoon, and cotton only
fell an eighth. In the Exchange
THE MERCHANTS ASSURED
the HERALD reporter that the losses to the Boston
cotton men would only be trining at this stage OF
the proceedings unless new fire broke out.