The Portland daily press., 1872-07-04


The Wool CRISIS. Under this head the
Boston Globe gives the following respecting the
prospects of the wool market the coming sea-
son: a.sf. -...4.. ..I ..r.-. q .. .s..,
1t is well known that for several months past
the market value of wool has been at variance
with the statistical condition of the market,
and now there are signs of a reaction in conse-
quence of manufacturers, who have been buy
ing freely, having discovered that they cannot
dispose OF their goods except at loss. They
have no old wool, bought at lower prices. TO fall
back upon. Under this condition Of things the
manufacturers are buying with the utmost eau
ton, and as consequence of this prudence
wool is coming but slowly from the interior
The New York Bulletin, which is good authori-
ty in such matters says the position of woolens
j. perhaps the most critical of all the domestic
fabrics, and the signs of the times in regard to
the entire trade are involved in doubt and are
somewhat difficult to read. .r aaI --tl
Wool has declined considerably since the
commencement of the year, but as last season
goods were sold lower than the market price of
the staple appeared to indicate, manufacturers
are disposed to demand proportionate price
for their fabrics this season, considering the
rates they have already paid for putting cloth
ing woods into planufactured.goods,o or are like
ly to pay. If they are assured of their fair liv-
ing percentage that is all they require. At
present they are placed between twoIires, dear
wool on the one hand, and buyers afraid or UNI
W OptIdtC dL tuc necessary ngureS.
Two opposite interests are at work, and the
question resolves itself into the simple one of
which must takeithe initiative by making such
concessions as will inaugurate the seasons
traffic
The high cost Of the raw article is founded
upon the just basis of a greater demand the
world over than the present supply, taking or
binary considerations into account; but at the
same time when the question of price is consid-
cred it must be allowed that there are various
depressing influences at work to interfere with
the proper balance of rates: f- LII ~
The American clip, which comes first. both
in point of time of purchase and importance,
may be estimated at a half of the product used
for manufacturing purposes in the country aud
with the sale of it must lie in great measure
determining of the fall and winter values
What the price is to be is the question of the
hour, and the situation is now so fully deter
mined that the sooner or later that complete
understanding is arrived at, whatever that NAV
happen to be, so much the better for all parties
concerned. -4 ..t ..- I'D. ...-Ef.l- .
The high price of wool has been, to some ex-
tent, supported by the equally high quotations
for cotton as the two staples are in many cases
substituted for each other, according to the
fluctuations in their value; but with the pros
pect of a cotton crop of four millions of bales.
the tendency of cotton will be to drag down the
price of wool. In this. position of the wool
trade, it does not requiIe the inspiration of a
prophet to see that we are verging upon crisis
in which the imitation of the last twelve months
will give place to a more natural and reason
able range of values