New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-05-01

during the last three years Of disaster than III
preyIous years. II they never consumed OF DO
mcstic manufacture MS much cloth as oOO,VO,WD
hounds of wool could produce. even in the best
years the increase Of imports amounting for the
last two years to the equivalent of 1OO,VO,Wo
nounds of wool would Of itself imply large
curtoilment of the demand for domestic goods.
Reckoning in addition only n moderate decrease
in purchases and consumption Of all woollen
goods. owing to the hard times, 1t would be
d,fticult IN conceive that as much MS so per cent
Of the domestic capacity could have been en-
ployed.
some investigations have been made by non
partisan business authorities, with results point
ing 10 similar conclusions An inquiry y-Dun
& Co., covering all parts Of the country, indl-
Gated that in November, 1894 more than 20
per cent less wages were paid and nearly ~
per cent fewer hands were employed in the
wOoIlen manufacture than in tho same months
Of 1892. But without accumulating evidence
It may he assumed for the present purpose,
since no other than m approximate conclusion
Is possible. that instead Of a maximum OF about
400. OOO. 900 pounds yearly the manufacture has
In fact consumed at least 20 per cent less Tor
three years, or not more than 1,l76,Uo,Wo
pounds In that case the excess Of domestic ana
foreign supply over consumption would be about
157 900. 900 pounds down to the end of 1896. In
this calculation all known stocks are deducted
from the quantity reckOned as supply, and such
stocks Of domestic wool only, exceeded l23.-
100000 pounds last January. Nor has there
been during the last four months anywhere near
a full consumption. But in January and Fcbru-
airy imports OF wool were 52,435,6l1 pounds. and
in March from Great Britain alone 29,GG0.WO,
making 81 1851 pounds known besides re-
ported imports Of 1892 bales at Boston alone
In four weeks Of April, and 81 $50 bales at New
York. and s.12G,332 pounds at Philadelphia, the
imports at three cities probably amounting to
about 9S.OOO.OOO pounds. In the four months
apparently more than 1SO,000,00O pounds have
been imported and the consumption in manu-
facture has certainly not been as large. II not,
something over the 2SO.OOO,OOO pounds on hand
In known and other stocks January / must yet
be In the country. besides the new clip just com
ing from the sheep.
This Is not far from seven months consump-
ton at the maximum rate With such a guam
tity of old and imported wool on hand, and per-
mitted to enter consumption free Of duty. and
some months imports more to come, what rea-
son IL There ~ tNpttt tldt tHt INV supp. VIII
command high price? If all the farmers could
afford to hold all their wool until next Decem-
Der 1t would be different matter. but many Of
them cannot. The desire Of some to sell will
tend to depress prices for ALL unless spectators
and manufacturers kindly buy far ahead of all
wants. Many manufacturers are known to hold
about full years supply already, and the abb
sence Of these from the markets must tend to
dsappoint the many speculative dealers. 1t is
the truth that wool should command better
price, not year hence. but much sooner. But
II all the wool that can be imported prior to the
final passage OF the new tariff comes in free Of
duty the results for wool-grOwers. and with
respect TO future duties for manufactured prod
ucts, may not be entirely satisfactory.