The Lake County star. [volume] (Chase, Mich.) 1873-current, 1877-02-15

anger a Avery's Circular!

The WOOL Markell
anger Il Avery's Circular
Another eventful year has been ex.
perienced by the wool trade. The
failures of manufacturers, which many
supposed had ended with the year 1875,
continued during the first quarter of
1875, and 70 frequent were the losses to
the trade and the outlook 80 gloomy,
that some of the best houses withdrew
from business. The absence of sales, or,
when transactions were effected, the
unsatisfactory prices obtained for
woolens operated to distress the manu-
facturer and at the same time increase
the caution of selling to such an extent
that, during January, February and
March, sales were quite restricted,
though quotations did not sustain much
reduction. During April, May and June
the pressure to sell produced a decided
decline in value of all grades, which
continued until about the middle of
July, when the lowest point was
reached. At this time prime washed
Ohio feeces were being bought in the
country at &c. to 30c., and the best clips
of Michigan and Wisconsin were
freely sold by farmers at 25c. Even at
these low figures but few operators had
courage to take hold, and the clip was
marketed slowly.
The large auction sales of flannels and
other woolens in July, though returning
prices far below cost to manufacturers,
nevertheless gave relief to the goods
market and proved the ability of the
country to absorb large lines of goods.
1t was argued thatat the then ruling low
prices of wool goods could be made and
sold at prices without loss. Upon this
basis q few large manufacturers entered
| the markets and cleared them Of the
most desirable woods.
Dealers, to make up their offerings
then began purchasing in the West in
competition with each other, and the
prices rapidly advanced until about the
first of November, when the reports o.
the London auctions, followed by the
purchase of nearly all the Cape and
Australian here by Canadian buyers
gave new impetus to the market, which
did not cease until farmers clips anC
secondhand lots had all passed to thu
seaboard, where 47c. TO 48c. for Xxx Ohio
and 4Oc. to 42c. for Michigan fleece wa
paid. In Europe also, to less extern
perhaps, wooden manufacture had become
depressed, and the price of colonia
woods reduced to lower point than haC
been reached in many years, though no
low enough to admit of their importation
in competition with domestic woods here
The July auctions developed bette
feeling and strong demand, with som,
advance in price, which was material.
| improved at the November sales.
The dullness of woolens in NOvembe
caused rather quiet market for WOO
during the latter part of that month
which the election and its undetermined
f results has intensified and prOlOnge'
, until the end of the year. In spite O
! the lightness of the demand, fine fleece
have not weakened, though low grade
and nearly all other classes of domesti
) woods except combing have experience
, a slight decline. Combing and delain
woods, like fine feeces, were quite mes
lected until August, when cOmpetitio
became lively. From that time unit
the close &C the year they have been j
. constant request, and large purchases b
Eastern manufacturers in Decembt
leave the markets with buta light suppl
: tf this class of wool.
!, To manufacturers generally the pa
= year has been Improbable, and though
2 few dealers have made handsomely b
. their operations in wool, yet as who
. . the trade have done but little if an
= better than in former years, when ii
fluctuations in values were less and I'll
> volume of sales greater.
The outlook for the future presents
! decidedly more promising aspect tina
!, last year, and we hope the time is NJ
far distant when our banks will desil
the capital which they are now SO willir
!. to surrender.
q California Wools-The stock in ma
q ket is mostly of fail woods, which beir
r held at full rates, compared with 9TH
9 stock, have been slow of sale, and quot
$ tions are lower.
q Oregon Wools-Are without chang
| Like feeces, they have met with ligl
o inquiry during the past month.
r Texas Woods ec,ipts have bee
o mostly Western woods, for which the
8 has been light demand, and there beiT
b free disposition to sell, prices may
Q quoted at slight decline.
r Territory WOols--There has been son
n movement in Colorado woods during Il
4 month at decline of from five to te
q per cent. Utah and Montana woods ha,
3 received some attention at lower ranl
n of prices
$ Foreign Wools-Stocks of clothir
q woods are unusually small. From repor
d from Australia we should judge that t.
clip there will nOt be in as good cOnd
}. ton as last year, and that the shipmen
@ to the United States will be lighter thu
n for several wears past.