The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-03-18
TRADE AND COMMERCE..
Special Features of the Wool Market-Low
Prices Likely to Rule.

INDIANAPOLIS. March II.
In the local market there is little new to note.
Fluctuations in values are few and of little i'm
portance. Sugars are tame IN price and distri-
button light Coffees have braced up little,
but are not quotably higher As the wool mar
ket begins TO attract some attention, we have
taken some pains to learn the real situation,
as the season opens. from parties who are well
posted on the SUBJECT. What is the prospect for
the new clip7 is question often asked now, and
one that is not easily answered, but there is
some data to base an opinion on that may be
proftably presented. at this time and then each
man will form his own opinion. First, the in
crease in production and consumption has nearly
kept even for many years until the last year,
when there seemed to be surplus of wool-bat,
in fact it was a surplus of goods, caused in part
by the reduction in the tariff by which our mar
ket was flooded with foreign goods, which COM
PEELED large number of wooen mills to stop
and a still larger number to run on short time.
This was aggravated by the financial
and labor troubles and the result
uf the years operations in wool
shows a steady decline since the lst of May last,
amounting to from to cents per pound, with
the Eastern market to-day dull and dropping,
but with general feeling that the bottom has
been reached; but there is no speculative de-
mand, and no evidence of any advance in sight.
There is, however, considerable talk OF a short
clip of wool this spring, based on the hard
winter in the Territories and the drought in
Australia. 1t is estimated that the loss of sheep
in Australia will be about 100000, while from
the Territories we have no reliable data to esti-
mate the loss; but the best judges think it will
not equal the natural increase in the flocks. The
loss in Australia wool, unless it largely exceeds
the published reports, will not MAKE any material
difference in the worlds supply Hence we
infer that the only thing that can benefcially
affect the price of wool is a general Improvement
an advance all along the line and
this must. necessarily, be very slow.
In this market wool opened last year at % cents
for the best unwashed. The same grade will
probably be worth 18 cents this year; but the
farmers greatest loss has been on the imperfect
woods, tho bury, chaffy and feece-grown, or
cotted wool. These have been difficult to sell.
unless as greatly reduced prices, and whenever
any article is unusually low in the market it is
more than ever important to the producer to
bring his produce TO market in merchantable
condition, because the percentage of difference
in price is so much greater at such times. Farm
ers, at this time of the year, should have their
sheep carefully tagged, shearing of all the wool
that is likely to get soiled, the sheep get the
FIRST new grass, and this wool should be kept sepa
rate from the fleece when taken to market. Any
sffort to hide it in the middle of the fleece only
gets the seller bad name, and to leave it on the
sheep until shearing time loses it entirely. and
makes his sheep uncomfortable and unhealthy.
GRAIN.
IL was rather Of an off day in the local market
The Board of Trade Price Current says of wheat
that there is shading OFF slightly from prices of
yesterday. Local markets are touched with
something OF feeling of dizziness. Futures
heavy and lower prices are quoted for forward
deliyerieg Visible supply renort shows n small
increase Of $500 bushels. We quote
No. Mediterranean o. t................ s41o
No. Mediterranean, o. t.--.----..--.--.....- s3l9
NO q reu o. t.----.--------.. S3
No. red, o. Observation-Disclosures rs
Rejected 0. -.---------------.---- 81
Corn-Fair demand, but prices are not quite
20 firm, especially for large lots Receipts fair.
Futures not wanted. Visible supply looms up
with the large increase Of l,024,6 600 bushels, in
dicating liberal receipts at all points. We quote:
No. 2 white o. ..4 3
5000 y. 49, .--.--s--.. so
o. u.