The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-03-25
Gheqnteltigsnter.

The Wool TRADE.-Mr. Henry X. Lis'
Of this city disposed Of 100000 pounds o.
wool few days ago to an eastern com
pspy, having become satisfied that the
market did not promise well for the I'M
mediate future. The New York BHAe''n
Of Thursday fully confirms this view o,
Mr.. List. 1t contuinsa report OF several
interviews with leading dealers upon the
presep, condition and future prospects oil
tbe market The Mcssrs. Lord Brothers
s,.,a M ,bot their business was so depressed
,nJ tho outlook 10 Encouraging that they
had determined to get out OF the trade.
ITbc failures had been very nu merous, more 50
than they cv rrmembetei MA AnutaGttIs LaI h.',
4 ''eT, found It neccssaTy noa 10 cut this short,
Sj 4, they ~crr not Telarod to buy for cash. they
! itI Ihc III Inuiictohes b0lug At stand sull, the
lsmInd for OOl u cyurc, was less, and cOnSo-
9seuly the value was proporti lnately decreased.
n. kiad, Of business, however, S vary much de
pts.,,d and perhaps the wool trade was not much
r., Than the 0thcrI. The depreciation Ia the
1tao OF staples did not appear 10 be understood BY
gf5Ucfs In Ohio, MichlRan and tho Southern
Stitc, they had been getting 10 cents pound. but
Manufacturers WaDted TO bG supplied nj one-t third
ot dollar; the prospects OF the dealers, therefore,
were not by nny means bright, and their hrm
V5uIl ,Iye up the business A year hencs IL might
BEN ,ood condition, and they might possibly re-
sumo IT,
The firm Of Lynch & Co. laid the depres.
sion OF the trade on the tariff. They
stated that the .duty.on wool was about
100 per cent.
Manufacturers, therefore, had 10 use domestic
vol, m st Of which came from California and
IeIi.; the other St.tCs, be said, were nowhere In
compifi on with these. California sent more than
an tRO Staies last yelT-lt sent 10 ma ket hily
million IoundS II was not equal TO the ioleigu
EDl and hns ilbrics could not b manufactured
fr1m it-ine casslmeres for instance; Il Is harsh,
iu,1y and mushy. For blankets, hannels and such
;ools Il did very we'll however. Manufacturers,
tarfeiorc could not compete with the foreign mar
kci; this had affected business and they had been
losing money for many ycarS.
The firm OF "rhompson's Nephews "
Co" (curious firm name) advanced the.
ory different from others in the trade.
They "did not regard the tariff as the main
cause Of the present depression in the
wool business"
''We had long war, you remember and there
va an immense demand for clothing for sOldl'r
L rye fortunes were made in those days. and sue
cess made the manufacturers crazy. They weIe
not sad fed With the moneJ they were mixing,
but said, 'Oh, II I had more machinery, ! cOuId
m mluuiactIre ten times more and make ten times as
much prOili 70 they W0ut on adding ~ their ma
cnIuery, and the marGci was OTeTburdcned with
goods. Well, when tue war was over the Govern
N mt had an IInu snse luIntty Of clothing, aud II
va, sold Ut almost any pdce; you IecUllect almost
every tfuckman, st Ye driver &c, wore some por-
tim Of the blne Uniform Now that seriously al
iectrd the business row, the manufacturers did
not dec ease their work TO any extent when the
war closed; all who cOull do so continued TO turn
out gods and only those stOPpd who could not
obi dn the WOOL They were encouraged OF course
by tne commission house, for they cOntinued to
make mo.sy. When manufacturer told them
that he must stop, they dlssuadcd him II possible;
aud II he said that he required assistance, they
promptly offered thcF accrptAncc5 10 that Of ali
The failures that have Occuncl there vas not one
belieSc In which commission hOuSs was not 4
larsc creditor. ! TemGuiner at one meeting I
,rrltOIA commission house was heavy creditor,
hui the rn took It very cOOlly and remarked that
uey had made over sI6O,00O Out Of him. and there
fore they could put up with the loss. "SOE, con-
nucd the gentleman, "thls encouragement 10 con-
tinue III inufactuhng has been the means OF over.
croEding the market, and Il all work were stopped
O-ly, believe there Is sufficient good 10 supply
all the demand for long time. That Is my theory
to account for the exceeding depression Of b,lsi-
ness"