Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1894-11-02

"good Port Philip" the value of which
since August, 1898, with but temporary
exceptions, has been about 1S cents In
London.
Under the duty of II cents per pound
of the Mckinley law Ohio Xxx was
worth 3016 .on March l, 1893, and only
191t cents today, or IS days after wool
was put on the free list, and the inter
mediate prices in the interval indicated
the anticipation or discounting Of the
free wool prices. Wool Of the same kind
and quality as Ohio Xxx in the London
market ut this date is worth l8 cents,
with thu difference against it and In
favor Of the "good Port Philip, that
the latter is skirted wool, while Ohio
Xxx is not. That is to say, the inferior
and stained leg and belly pieces have
been torn off of the Australian fleece, 50
that it requires no further sorting, while
the Ohio fleece, which contains these
pieces, involves the cost Of asserting in
addition to some loss on these inferior
parts. NH
Tone Of the Market. &&
The wool market is dull, and prices
are easy and in buyers favor. Sellers,
in their efforts to recover the trade of
those American mills that since the
passage of the free wool bill has been
transferred to foreign wool markets,
have offered concessions on the domestic
staple, and q decline of from 10 per
cent to Is per cent since the passage Of
the free wool bill has taken place on the
fine or merino grades, but without hav-
ing greatly increased the demand. The
contrast between busy wooden NILS and
a dull wool market with falling prices
is one of the first fruits Of the repealOf
the duty OH wool. Many manufacturers
who previous to the putting Of wool on
the free list were using American wool
exclusively are now using foreign. &
Others are now using foreign woods
to mix with domestic who heretofore
were using the latter exclusively, SO
that the promised increased use of do.
nestle wool for mixing purposes has not
been fulfilled, but the latter has been SO
far displaced by the use OF foreign that
concessions in prices have been neces-,
sary on some grades to place them on.
even terms with foreign. Thus we find
under the free wool bill the only declin-
ing wool markets in the world are in
the United States, and the advancing
markets IRE foreign markets. Domestic
woods have declined at time when the
American mills are the only mills in the
world that are really crowded with or
ders. "a
The London Auctions. 81
The London wool auctions which
opened on the 18th ult. have been in
operation for IL days During this time
the competition has been good. The
cleaner and more desirable qualities
suitable for America have advanced 8
per cent. It is estimated that less than
10 per cent OF the amount sold is Of that
GLASS and the prices obtained for, the res,
naming 90 per cent have been without
change since July. The daily with
drawals have been heavy. 1t is assumed
that if the lots which were withdrawn
had been sold the market would not
have been sustained. The sales have
been disappointment in that the ex-55
pected advance of 20 per cent has not
been realized. At the Antwerp Septem-
Der sales Of South American fine woods
only 80 per cent Of the entire offerings
were sold. This, coupled with the large
Withdrawals from the London auctions,
together with the we'll known over
stocked condition Of the leading wool
markets of Europe, is discouraging to
holders Of the American staple, most of
whom looked for considerable advance
in the markets of the world to reverse
the downward tendency of American,
prices, which, as will be seen by the
diagram, has been almost uninterrupted
for ~ years. an @>s 4
Wool Prices March 1, 1903, and Oct. 1, 1894.
In response to almost daily requests
Tor u comparison Of prices of American
wool on March l, 1893, with Oct. l,
1894, and for a comparison Of prices on
Aug. az, 1894 (the day wool was put
on the free list), with prices Of today,
wa have prepared the following table:
Prices current on March /, 1898, were
those under the Mckinley law before it's
protective influences were impaired by
threatened repeal, which was the case,
almost immediately afterward. The date
Of Aug. 81 was selected for comparison
with the present time in order to show,
how far free wool has depressed the.
price of American wool during the 30
days that foreign wool has been free Of,
duty. Our quotations Of today are even
higher than some of the other eastern
wool market reports would indicate, so.
that the average decline Of more than Z
per cent in American wool since, the,
duties were removed is less than half
of the extreme decline on the merino
qualities which comprise three-fourths
Of the whole American wool product.
II will be noticed that, while the aver
sge decline in 10 months has been over