Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1891-06-27
MORE FACTS ABOUT THE PRICES
OF WOOL

Justice, Bateman & Co., Wool Commits I
sion Merchants. Philadelphia. June LIST.
The price of foreign wool is lower
than at this time last year, and as the
wool markets of the world control
American markets, prices here are d.
Ginning in sympathy with prices
abroad. As an illustration, Shrop-
shire woods in beautiful condition are
being sold by Canadian farmers at Is
to 20 cents, fleece washed, while Ohio
wool growers are getting from Is 10
80 cents for the same wool. These
woods are all selling in the eastern
markets at 30 to Sc cents. Prices also
average a shade lower than at this
time last year, owing 10 the absence
of the speculation which accompani-
ed the buying of wool last gear in
anticipation Of the passage of the Nc
Kinley Bill. Some who purchased
wool in country with view to boom
paid cents per pound above the level
of other markets ofthe world. These
dear purchases were held above the
market until manufacturers had most
ly supplied themselves with Austria
liam woods which, Notwithstanding the
IL cents per pound duty, could be
bought cheaper in London. The cost
of clothing is no higher than before the
Mckinley Bill was passed, and with
out any advances in manufactures of
wool, higher prices for raw material
cannot be permanently maintained.
Some kinds of wooden goods upon
which the duties were advanced, have
declined in Europe so much that the
cost to the American consumers is no
greater than under the old law, the in
creased duty coming entirely off of the
foreign producer. Conspicuous among
such articles are some kinds of hosiery,
the duties upon which were greatly
increased by the Mckinley Bill, which
have declined so much abroad as TO
admit of their importation at the in
creased duties, and still allow of their
sale to the American consumers at
! lower prices than were current before
| the tariff was changed. Among the
many causes which have combined to
prevent any advance in the price of
wooden goods, was the excessive im-
portations in anticipation Of change
in the tariff, which goods, owing to a
mild winter, were not all wanted by
consumers. The depression that
would have existed in the business if
the tariff law had not been changed
would have been very great, as mills
that were previously idle are now
running and the consumption of wool
in this country to replace the goods
that were formerly imported is at
least 5,ooo,o 900 lbs. per month greater
than at this time last year. If the
abuses and evasionS of the old tariff
law had not been corrected by the
passage of the Mckinley bill, the fall
ing off in the use of wool in the United
States would probably have been more
than double the increased quantity
now used.
The increase in the clip of Australia
is of such magnitude as to be meh-
ace to the permanence ofpresent prices
abroad. Australia is now the factor
which determines the prices for wool
in the market of the world, only that
the American wool grower has the ad-
vantage Of about II cents per pound
owing to the protection which the pres
ent law gives him
The lower price that the Canadian
farmer now receives for his wool in
comparison with the American far
mer, applies with equal force TO wool
grown all over the world. The Nc
Kinly bill, while not increasing the
cost of clothing to the customer, has
transferred industry toAmerican mills
l at the expense of foreign mills. AL
, though the prices for American wool
have not permanently advanced, the
foreign markets have declined. Ac-
: tivity prevails in the wool and wooden
industry Of the United States, while
depression prevails in the industry
abroad.