, 1896-04-02
THURSDAY, APRIL ,, 1886.
FREE WOOL BOOM.

The weekly wool report of Fenno
Bros. & Childs contains much food for
free trade thought. 1t is noticeable
that the market in this country is get
ting in such a condition that it is
thought by some that wool can be
shipped to London and a profit made
over the Boston price. Before the tar
in was removed from wool protection
lists claimed that the result would be a
reduction in the price of American
wool to the London level, and they
were right. The following extracts are
made from the latest wool report of
that old reliable Boston wool house,
Fenno Bros. & Childs:
Again we have to report a dull and
unsatisfactory wool market. and alto
gether the volume of trade foots up
somewhat larger than for the previous
week, nevertheless this increased bust
ness has only been accomplished by a
still further development of weak
spots. Manufacturers have yielded to
temptation in the shape of concessions
in values made to meet their views, and
in consequence, several good-sized
parcels of territory wool have changed
hands. AS a result of these transac-
tions, a 30-cent secured basis for fine
medium territory is still more in evil
dence. and anyone desiring to realize
on their holdings OF this kind would
have to be content with about this
price in order to move them literally.
ports, our market is gradually settling
down to a basis for export, and the
past week has shown further evidence
in this direction, as several fair-sized
lots Of territory have been sent abroad.
We also hear Of n shipment of brush
ed pulled wool from an interior mar
ket, the owners of which have been
tempted by prevailing conditions here
to try London as al outlet. At best.
however, all shipments to date are ex.
perimental, and it will take some time
wv W uSlS III "llClllCl il
not our domestic clip will meet with
such favorable reception abroad as will
warrant any substantial increase OF
business in this direction.
From New York we continue to get
but little encouragement as far as the
situation of wooden goods is concerned.
and the most careful inquiry seems to
prove beyond reasonable doubt tina
from one cause or another a surplus in
almost all classes of wooden goods,
particularly mems wear, has beer de-
veloped; and until retailers, clothers
and jobbers find better distribution for
their stocks, they will hardly be in po-
sitton to give increased activity to our
mills, hence we can see but little
chance OF any immediate Improvement
in the price of wool, and the best we
can look for is that manufacturers,
recognizing the low level of wool val
ues which prevailing conditions have
established, will be willing, in spite of
the gloomy outlook for their products,
to from time to time take on more lib
eral supplies than their immediate
wants may require, and in this way
gradually reduce the supplies of old
wool now in sight to a more manage
able quantity before a general move
ment Of the new clip takes place.
VI course, the attitude of our law
makers in Washington still has an i'm
portant bearing upon the outlook, and
from now on congress should be
watched closely, for until positive de,
Velopments occur showing how mat
ters politically and financially are to
be treated. a dull and ~listless market
for all staple articles seems likely.
From abroad our latest advices re-
port the market unchanged since our
last issue. The Germans seem to have
been most identified with the advance
inaugurated at the recent sales, while
Yorkshire seemed inclined to bid
smartly towards the close of the series.
Relatively speaking, but a small,
amount Of wool has been bought for
American account.
Sales for the past week foot up about
l,946.OOO pounds, against about 4,161..
W pounds for the corresponding week
OF last year, and about 1877, 900 pounds
Tor he preceding week Of this year.
The principal sales have been of terri.
tory about $40. 600 nounds. nj soro;-
about $4,000 pounds; Of domestic
neeces about 10000 pounds, and of
secured about 275 mn mounds