The San Francisco call., 1896-07-29


ness inactivity, and, as result, the vol
ume of trading shows the smallest total of
sales that we have had to note since WOOL
growing became an important industry in
this country, and Boston the leading wool
market in the United States. When less
than three-quarters of a million pounds of
wool changes hands during week in a
market which ordinarily disposes of from
10000 600 to 100000, 900 pounds of wool in
q year, the causes which influence the
situation are TOO significant to be ignored"
The foregoing statement applied to the
week ending July Is, but there is wider
survey a little further along. After advis-
ing their friends to pursue most consel-
vative course in their operations until the
future is more assured, the circular con-
tinues:
THAT we can see any higher prices for
wool in the immediate future does not
seem possible as we view the situation.
The total sales of domestic and foreign
wool since January / foot up "a, ,620, 500
pounds against 115, ,962, 600 pounds during
the same time last year, showing a de-
crease in business of 5l,041, 500 pounds
com pared with last year, and this great
curtailment in the output of wool must of
necessity create surplus which, even un-
der increased activity on the part of mills
later on, can hardly be oyertaken during
the balance of the year.
'The movement in the wooden goods
market is still restricted to small limits,
and the present amount of idle machln-
cry is likely to be increased in the near fu-
ture, and while the reduction in wooden
goods thus brought about may in the long
run have favorable effect upon the price OF
woolens, this large shutting down of the
factories is not an encouraging sign as far
as wool is concerned. There is Just as
much wool to be marketed whether the
mills run or stop, and each month that
q % a n Ic lnd lync 4ha
chances for future values more open to
doubt. Importations of wooden goods
still continue, but under the influence of a
decided slackness In demand show a con-
siderable falling off in volume as COM
pared to year ago.
'Sales for the past week foot up about
10000 pounds against about $4,000
pounds for the corresponding week of last
year, and about 997, 900 pounds for the
preceding week of this year. Again the
shrinkage in the volume of business be-
tween this year and last is most conspicu-
Gus and cannot fail to have its significance.
The principal sales have been of territory
about 100000 pounds, of domestic feeces
about 200, 600 pounds, and of pulled wool
about 1O0, 900 pounds, ana of foreign about
150, 900 pounds"
Such has been the general tenor of every
circular issued by commission merchants
who have canvassed the situation during
general
pail over the business ever since the Dem
ocratic free trade-policy has had full sway.
In circular issued early last spring the
same firm says: 1.-The wool market con-
tinues dull and lifeless and the total sales
of domestic woods show a great falling off
from an average weeks business
The foregoing facts apply 10 the general
market, but there is plenty of evidence to
show that the local situation is equally
bad, if not worse.
Speaking of the subject yesterday, the
senior member of the well-known San
Francisco firm of Shoobert 6C Beale. wool
merchants, said: sI am not an alarmist
and do not believe in making a disturb
ance over impending calamities, but the
simple truth is that we cannot compete
with foreign woods, and without protec-
ton the wool business will perish. The
Australians, with free lands and superior
skill, can raise better wool than is pro-
duced anywhere in America and at one
NTH what 1t costs us to produce an inferior
quality. Nearly every securing mill is
closed and our warehouses are deserted.
There is no market"
Mr.. Hulme, of the well-known local firm
of Hume & Hart, says:
''The clip in this State this year falls
Il. 200 bales short. This amounts to five or
six millions of pounds. Why? Simply
because sheep-growers are forced to sell
their sheep for mutton, there being no
profits in the business of growing for
wool.
From three to four years ago Hum
boldt wools brought from % to 80 cents a
pound, but to-day, with the competition
of fine foreign woods, they have no buyers
at IL and IL cents. In the old DAYS the
banks loaned money freely on wool, which
was as good as old wheat in the mill but
to-day they will not make advances at all.
because wool won't bring even the lowest
liz
business are closed out. The Nevada
woods are affected less than others. but
even these feel sadly the effects of free
trade"
Thus it is plain to be seen that there is
business paralysis in the local market as
well as all over the Union. The most con-
servative reports show that half the ma
chinery in the woolen manufacturing
regions is idle. The experience of two
years has shown that the American manu-
facturer cannot successfully compete with
the foreigner, who, in his efforts to hold
American trade under free trade, is offer
ing his products at continually decreasing
prices.
The following report from Hulme &
Hart's Prices Current for the week ending
July % shows the stagnant condition of
the market: Receipts California sprinp
clip aggregate 38, ,219 bags, against 55. 964
bags same time last year. For the week
IcCcAptS OdlllOTuld nave Deen 00l bags
against 793 bags last week and 954 bags in
the corresponding week last year. Oregon
receipts for the week are AL bags against
26s bags in the corresponding week last
year.
"An exceedingly quiet market has been
experienced the past week, with business
almost at a complete standstilI. Values
cannot be said to show any uuotable
change, desirable qualities not being OBJ
tainable for any less than figures lately
current, but buyers are as rule tempo
rarily out OF the market"
Any one who goes on the Wool Ex-
change and talks with dealers irrespective
of his political beliefs Will soon be con-
vfnced that there is no division of senti-
ment as to the proper policy for the fos-
tering of the wool industry of the United
States All want protection, and all real
ize that the present Democratic free-trade
policy as formulated in the Wilson bill is
responsible for the paralysis of business
that marks the country to-day, as it has
thrown pail over industry since the Will
son bill became a law.
UNDER CIVIL SERVICE