Little Falls weekly transcript., 1894-11-02

Average decline in 10 months from March
!, 1893 (befOre the Mckinley law was
sailcd), to Oct. l, 1894. Observation-Disclosures 81 .0S
Average decline since the passage Of the
free wool bill (35 days}. TEA
[Note.-American woods are today practi-
cally on parity with woods Of the same kind
and quality in the London market, which have
remained practically unchanged for over II
months
An Offer to Senator Voorhees,.
To the Editor of The Tribune:
SIR-Inclosed is a copy Of a letter going to-
day to Senator Voorhees, Will you kindly pub
Influences Of his misstatements?
JUSTICE, BATEMAN & Co.
lion. Daniel W. Voorhees, Terrc Haute, Ind.
DEAR SIR-1 am very glad to SEQ in The
Press Of this date that in speech at Jefferson,
Ind, Monday you predicted that "wool
would sell within two weeks at prices higher
than prevailed at any time under the McKin-
ley act"
Every woolgrower will be glad to know that
there is some prospect for q check to the de-
cline in American wool which has taken place
since wool was put ON the free list on tho 9th
# August, for since that date the finest wool
in your state-namcly, Indiana merino, un-
w;rshcd-has declined over II per cent, and the
price is still dropping, and Ohio Xxx, which is
the standard grade Of American wool, has de-
clined over Is per cent since wool was put on
the FREQ list and is still going down.
If you feel confident Of your prediction that
wool will ''sell within two weeks at prices
higher than prevailed at any time under the
Mckinley net, " the firm of which am mem
ber can offer you an opportunity for a profit
able investment in wool. They will furnish n
Xxx Ohio which is about the finest grade of
American wool, at 1875 cents for such us sold
,n1t,1 I111 o<>e>
80 per cent since the Mckinley law was admin
istered by General Harrison's g administration
and Immediately before tariff revision was be-
gun-and which sold ut 312 cents in March,
1901, Immediately after the Mckinley law was
enacted.
An advance in the price within two weeks
from 1877 cents to 341a cents, the highest prico
paid under the Mckinley law, would be an ad-
vance Of over SO per cent, paying profit OF
$780, coo on each ,OOO 900 pounds Of wool bought.
Here is an opportunity to make money, II your
prediction is correct, which seldom occurs
more than once in a lifetime, and If you desire
to mako tho operation my firm will furnish 81
per cent Of the money required and will buy
the wool for you, and you can secure as many
million pounds in the markets Of Philadelphia
and Boston as you will probably want, as every
responsible wool dealer i'll these markets will
be glad to take your business on the same
terms.
AS tho Mckinley law on "n0nu1aCGureS OF
wool" is still in force, as the reduced duties of
the senate bill do not go into effect until Jan.
l, 1895, and as the mills already have free wool,
of course they are busy. The contrast between
busy American woolen mills and dull Amer
ican wool market with falling prices is one Of
the first fruits Of the repeal Of the duty on
wool. Many wool manufacturers who under
the Mckinley law schedules previous to their
repeal were using American wool exclusively
are now using foreign wool. Others are now
using foreign woods to mix with domestic who
previous to the 9th of August were using the
latter exclusively, so that tho promised in
crcused use of American wool, under tho new
tariff law, for mixing purposes has not been
fulfilled; but, ,on the other hand, American wool
has SO far been displaced by the use of foreign
as to make the former almost unsuitable, in
volving concessions in price i'll order to place
American wool on even terms with foreign
wool. 1t is exceedingly gratifying to learn
wool market, for under the new tariff law the
only declining wool markets in the world arc
in the United StntCs, whilc fore ign murll( t.
are advancing, us you will see by reading the
daily cable reports Of the London wool auc-
tiuns. American woods have declined at Il time
when the American mills, which are still opcr'
nting undcr the Mckinley law, are tho "llly
mills in the world that are at present crowded
with orders. Very truly yours,
THEODORE JUSTICE.
Philadelphia, Oct. 8, 1884.