The San Saba news. [volume] (San Saba, Tex.) 1873-1966, 1889-05-31


the large markets was the lowest
that had been known for years.
There seemed to be no bottom
to the market; trade dragged and
prices dropped week after week as
midsummer passed. Considerable
wool moved in Ohio and Michigan,
at prices that we're, relatively.
much higher than Eastern values,
but by the middle of July buying
in the country was stopped by
manufacturers, and local dealers
took in wool very slowly after
ward. In the Eastern markets a
slightly increased inquiry was de-
veloped, but prices remained low
and the amount of wool sold was
small. About the end of July
prices touched the lowest point,
large lines of Michigan X were
sold in Boston at 258 cents, and
the half year closed on very un-
satisfactory state of the wool trade.
Every one in the business had suf-
fered to a greater or less extent.
All tbe adverse Influences aDpar-
emily possible had combined
against the trade. Dealers hand
ling their own stocks lost money
on every side, and the most ener-
getic commission merchants were
compelled to make returns far
from satisfactory, to all consignors
that had ordered early sales.
A change for the better was
coming, however. The free wool
bill, which passed the House of
Representatives July Is, was ex-
pected to be killed in the Senate,
and soon after August opened the
wool market became quite active,
at ruling prices, and the amount
of wool sold was large. This i'm
provement was partly due to the
fact that some contracts for light
weight goods had been made, and
manufacturers being compare
lively short of stock were COM
PEELED to come into the market.
The next development was a frmer
tone, and an advance of l to q
cents on some grades; this, how
ever, did not appear to check the
volume of sales, that gradually in
creased until the third week of
August, when were reported the
largest total sales in Boston that
were ever recorded, and proper
tomato increase Of business was
done in all the large markets.
Trade was not as active through
the succeeding month, although
prices we're well maintained, and
when the London sales began, an
advance of 2 cents was reported
on the fine and medium woods, fine
grades we're stronger in America.
The market gradually grew firm
er, and sales were larger during
October. In California and Texas
the fall clip began to move at
higher prices, relatively, than
paid for the spring woods; a fur
Their advance took place in foreign
markets, and early in November,
Just after the Presidential election,
prices advanced very rapidly. Fine
heeces went up five per cent. in
two DAYS, and fine territory woods
advanced five cents on the secured
pound in less than a week. The
sales of unwashed were very large,
and the Chicago market was about
cleaned ont of good medium un-
washed before the end of the
month, at an advance of about u
per cent. above the lowest point.
This made quite a difference to
all consignors who had had either
the pluck or the good luck to hold
on till the advance came. The
strong market was maintained I'M
I'll the end of the year, with grad
ually advancing prices, although
the volume of sales was less, and
at the close there had been an adj
vance of 1 to 81 certs on the prices
of January, 1883, and of 3 to y
cents above the bottom prices of
July. The last half of the year
had evened up the first half to the
dealers who had kept wool NOV
ing, so on the whole, the years
business had been much more sat
isfactory than that of the previous
year. The consignors who shipped
and sold early, did better than
those who sold in midsummer,
while those who held on until No
netted higher prices than
the other shippers. This was not
caused by any factor within the
control Of the men engaged in the
wool trade. The decline in prices
was mainly due to the tariff agita-
ton, which always deranges the
value of articles which are affec-