The true northerner., 1896-10-21
BIG STOCKS OF WOOL.
TWO YEARS SUPPLY IMPORTED m A
TWgLveMoNTH.
stooks Over a5O. 900 Pounds More
Than Ever Known-Represents . De.
crease I'm the Domestic Wool Clip-Idis
Milis Not Consumers-

Than Ever Known-Represents . De
crease In the Domestic Wool Ciip-Idls
Mnis Not Consumers-
On examination of the treasury reports
find that the quantity of wool. unmanufac
tured. imported I'm the nine months ending
March, 1893, was 100, 9lS, 70 pounds, and the
quantity imported in the nine months ending
March. 1894. was 80, 594. l24 pounds. What has
become of all this woolS BoEvINA.
Reading. Pa.
The figures given by our correspond.
ent are correct. They show 1873, 324,-
$50 pounds more wool imported during
the nine months ending March 81,
1896, than during the corresponding
1894 period, two years earlier. What
has become of all this wool?
The quantity of raw wool on hand,
unconsumed, OH March 81, 1896, is es-
timated at over Ia, 900, 900 pounds
more than was ever on hand at the
same time of year before. This is ex-
elusive of shoddy, waste, rags. etc., and
relates simply to raw wool.
II we take the quantity of wool on
hand, including that contained in rags,
waste and all forms of manufactures
of wool reduced to raw wool, the guam
tity ON hand in the form of either goods
or wool. unconsumed, on March 81,
1896, was about 257, 900, 900 pounds
greater than the largest quantity ever on
hand before at the same time of year.
This readily explains what has become
nearly double the quantity of increased
imports of wool.
There are many circumstances that
go to confirm these estimates First,
the American machinery is today run
ming less than half time Second, many
Of the wool dealers who handle the
American clip, and who have large
stocks of last years wool on hand, COM
plain that their sales for the past five
months were less than many of them
have often sold in single month un-
der the Mckinley period. Country mer-
chants all over the United States are
holding old wool, some of which is be-
ing destroyed by moths, because there
is no market for il, the usual outlets for
it having been stopped up with import
ed wool and imported woolen goods.
published in Traffic statement pre-
pared by Messrs. Theodore Justice g.
Co., Of Philadelphia. which is interest
ing in this connection, hence we repro
duce it, as follows:
''Messrs. Helmuth, Schwartze & Co.
of London, in their March circular, show
that the worlds supply OF wool from
1891 to 1895 had increased from 2. .121,-
900, 900 pounds to 2, ,342, 900, 900 pounds,
an increase in the world s supply in four
years of 221, 900, 900 pounds. The effect
of this enormous increase in the supply
upon European markets was to de-
press the foreign price Of wool from
e13 Is. I'd. per bale in 1891 to only
Ell per bale in 1895. a decline of over
18 per cent. This was in consequence Of
the fact that there was then 22l, 000,-
900 pounds more wool in the world
than the woolen machinery of the world
could consume. In 1895 the effect Of the
enormous imports Of wool in all forms
by the United States began to tell upon
European prices, and at the close Of the
year 1895 the surplus of woolens and
raw wool. which for four years had been
distressing European markets, had been
transferred to America, and London
wool market circulars now state that
the old supplies of wool and woolens in
Europe appear to have been obliterated.
The word transferred" rather than
obliterated would better describe the
situation, for the wool and woolen sur
plus of the world has not been con-
sumed, but has simply been transferred
to the United States, where the most OF
it is still on hand, and this is the cause
of the present depression in the wool
business here
1T is curious coincidence that the
increase in the imports of wool Of all
kinds for 1895, less the decrease in the
American clip, was almost exactly the
same in quantity as Europe's surplus Of
the previous year. As near as may be
the American total supply in 1895. ow-
ing to overimportations, was 223, ,000,-
900 pounds more than the average of
the previous four years, and Europe's
surplus, which had been exported to
America, was 22l, 900, 900 pounds 1t
Is therefore evident that the first effect
Of free wool was to relieve Europe Of its
surplus and cause prices there to ad-
vance and to add to Americas surplus
or to give the latter country two
years supply in one year. causing prices
here to decline.
An increase in the imports of wool
does not represent prosperity here. It
shows the diminution Of the domestic
clip and an enormous accumulation of
wool over and above the capacity of
American manufacturers to use. with
the mills running short time or closed
Mckinley Against Monopoly.
No man can outdo me in opposition