Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1880-08-19
WOOL.
The Views of Two Prominent Wool
Firms--Ditfering Opinions as to the
Future Tendency of the Market.

We have to chronicle another week of
dull business and light sales. Prices
are, perhaps, not quotably lower than
they were last week, but it is certain that
few Michigan and Ohio wool manufac-
turers would not pay the prices current
three weeks ago, and we have no reports
of sales within Il cent pound of the
highest price wool sold for the middle
of July. Manufacturers are not taking
EOld of round lots, and all the talk about
the statistical position of wool and the
firmness of farmers and the reduction
of stocks has made no impression on
them whatever. What they want to ST e
is movement in goods, and when this
comes, wool will take care of itself; and
until there is a demand for cloths, the
market will drag along in the dull and
unsatisfactory manner that we have set n
since the new clip came off.
There has been more doing in Terri
tory woods, and prices show no change
OF particular weakness. In tieeceS there
has been very small business, and the
tirmness of farmers in Ohio has very lit
tie effect on either dealer or manufactu-
rerS, as the sales have been at just about
what the wool is held at in the grow
ing sections. Farmers are firm and in
different about selling, except at about
45c, and manufacturers are very indif-
ferent about buying good mercantable
lots of Ohio Y in this market at the
same figure. Michigan has sold at 40a
4lc, but to-day 40c would buy a good
straight y, and manufacturers hesitate
to buy round lots at that price.
The following are the sales of the
week, and the prices paid:
Ohio, Penn. and w. Va. Fleece-The
sales include $1,000 lbs. Xxx and above
Ohio, at Acc; 10000 lbs. X do, al 46c; Xxx
and above Ohio, at 45c; 1, 400 X and No.
Ohio, at 45a4Sc; 5000 lbs. XX Penn
sylvania at Acc.
Messrs. Howell & Coburn, of Boston,
say: In our circular, July II, we said
Temporarily, it seems to us, farmers
and Western dealers are masters of the
situation. If they persist in refusing
prices now offered, the Eastern markets
will probably advance sufficiently to ena-
BILE those who have already forwarded
their wool to sell out to advantage. On
the other hand, if the West yields to the
bear arguments now pressed upon it,
prices here will not vary materially from
the present figures until after the clip
has changed hands. The market here
will cantinue dull and sluggish until
goods begin to move and manufacturers
are obliged to stock their mills. Then
we shall suddenly discover that wool is
really very cheap, and there will be a
legitimate advance in prices"
When we wrote the above, but little
Ohio wool had been sold and farmers
were firm at 45a50c for the best clips.
Since then there has been a marked
change in the West, and especially in
Ohio. Farmers have yielded to the bear
movement, and clips that could not be
touched at 45c two weeks ago have since
been bought at 40c. The breakdown has
not been complete, but it is sufficiently
general to affect the Eastern market un-
favorably. The stregth of the market
in the West was the backbone of the
market in the East, and had the West re-
maired firm it would not have been diff
ficult to maintain prices here against al
most any possible bear movement. The
sales of tieeces, particularly of fine wool,
have been very small this week and
some concession in figures would be ne
cessary to tempt larger purchasers.
There is no more reason for decline
than there was month ago, and every
argument in favor Of an improvement
holds good to-day. Our faith in the fu-
ture is as strong as it has been. The
fall demand for woolen goods which will
soon be felt will inevitably infuse new
life into the wool trade, and. to repeat
the quotation from our July circular
"then we shall suddenly discover that
wool is really very cheap" 1t is mere
question of time. Meanwhile we shall
probably continue to chronicle small
sales, dull market, and slightly lower
DriceS