The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1875-06-11
FennO, Son & Co.'S Annual Wool Cir.
cUlar.

On reviewing the course of events foi
the past twelve moths we find that trade
has been without much animation anC
on the whole unsatisfactory. The mar
ket opened in the country last year al
fair prices-about 42c. in Ohio and 3S tc
40c. in Michigan--but the competition
between Spectators and few Manufac-
turers who wanted early supplies, sOon
ran prices up about FIVE cents pound,
Which precluded all possibility for O
profit in Eastern markets, and the con
sequence was thata majority of operators
closed the season with loss, and only
those that bought and sold early, made
any money. There has been no specu-
lation in the Eastern markets, and prices
through the year have been remarkably
uniform. The lesson to some buyers
has been a severe one, and, as the same
causes that depressed the market last
year are still prevailing with even great
er force, we trust more caution will be
exercised. The business of manufac-
turing woolens continues greatly depress-
ed, and many large mills are laying idle,
while majority are running on short
time.
AS the greatest loss has been on the
finest fabrics, manufacturers have turn
ed their attention to low cost goods and
consequently there has bean large de-
mand for California and other cheap
stock, to the disadvantage of the finer
woods of Ohio and Pennsylvania, while
the increase and comparative pros
perity of the Worsted interest has Great
eda large demand for medium, long
stapled woods, including all the Combing
and Delaine varieties, which have met
with ready sale at very firm prices.
The question is constantly asked us
"What will it do to pay for wool in the
country for the coming clip2" From the
best light we can get, we should not ad-
wise paying over the opening prices of
last year-say 40 to 42c. for good con-
wool in Ohio and Pennsylvania,
and 38 to 40c. in Michigan and Wiscon-
sin. Clips running largely to good me-
dium of half-blOod wool with a staple
four inches long and upwardsa and strong
enough for combing purposes will OF
course bring higher prices, and wool
lower than quarter-blood will be
low and hard to sell.
Great attention should be paid by
buyers to the condition of the wool and
to getting a proper shrinkage on all cot
ted, seedy and half washed fieeces, as
many bright anticipations of a profit
have notbeen realized on account of the
difference in the throw between buying
and selling.
The recent addition of ten per cent. to
the duties on Foreign wool has effecsual
ly stopped importations, which have
been about 10000 bales; or 25,OOO, 900,
lbs. for the year 1874, against $4,000
bales, or 20,000,0 900, lbs. for 1873. At
the prices now ruling in the London
market Australian wool could not be
laid down here to cost less than lie,
for the secured pound, which
would be equal to choice Ohio Xxx flee
ces at 58c. in this market. A decline in
that market, however is generally ex-
pected, but while gold rules at S1,16
there is not much to apprehend from
Foreign wool.
There has been large increase in the
clip of California and Oregon, and in
fact of all the territories west of the
Rocky mountains, and we are glad to
notice an improvement both in the quail
ity and condition of these woods, which
are now being largely used by our man
ufacturers.
The policy which we so earnestly ad-
vocated last year, of making early ship
ments and sales, turned out to be emf
nently correct and profitable, and, as the
condition of the Eastern markets close
ly resembles that of last season, we feel
convinced that the same course will be
the best this year.
The spring trade has evidently been a
failure in all departments of business,
and all prudent men will be extremely
cautious in their operations. We do not
look for any soundand healthy business,
until we can have currency of a sound
and permanent value.
Very respectfully,
FENNo, Son & Co.
Boston, May "a, 1875.