New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-10-19
THE SUPPLY or WOOL.

THE SUPPLY or WOOL
Many have awaited with great interest Wv
delayed report OF the National Association VI
Wool Manufacturers regarding tho produc''o"
and consumption Of wool, which has peeh re-
garded since the dccadcncc Of statistics ny ''e
Agricultural Department rs the best hu'noi"!
an rho subject the more because Of the reputa-
ton Of Mr. s. y. ID. North the secretar! Oh 'ne
association. 1t Is therefore unfortunate 'hi' '''e
report made public contains important erio's,
including one error OF no loss than i'"'oco.r"
mounds IN the footing for the fiscal year 1SE'-
o. This might readily be dismissed Win re-
gret as Typographical or clerical m's'"Ns'
,houcb Mr. North himself contributes to trade
/ journal an article dated October IL, embracing
q mart Of the figures OF his annual report, con-
tanning the same important mistake. U'"i"E
error in the statement OF imports for the same
voor affects no question Of public interest.
far more serious mistake Is the omission from
tho statement Of supplies within the last rev
wears OF the entire quantity formerly carried ID
| wareho,isp As this quantity is not included III
the imports, and was withdrawn for cohsuinp-
zion while wool was free the omission lessons
by 2O2G2. 40 pounds the supply or WOOL LOT
manufacture since July !. 1890, and by no less
than 5G255:5Gl pounds the supply since July ],
1893 which Is the vital point OF the whole com
parison, as will be seen.
The question il what quantity OF WOOL re-
mains for consumption in the country arter the
enormous importaions under the free-wool tar
if. The largest consumption In any year prior
70 It's adoption had been sol 14l74S pounds in
| 1892 90 according to Mr.. Norths figures when
should in fact he reduced by the Increase dur
! ing the year OF nearly 1G.OO0.O00 pounds In guam
tity remaining in warehouse. and by the large
increase In domestic and foreign stock held
elsewhere. As exactncss here IL not important.
| It is enough to say that the greatest coIlsunp-
ton In any year prior 10 the free-woOl tarlr WAS
less than 5OO.OOO,OOO pounds. and Mr. North Is
/ liable TO mislcad readers by saying that THE
! average annual consumption has been some
! thing under J0O0O0O0O pounds or creased
wool" Assuredly II has been. since that guam
tlty was never consumed In any year, and the
question Is how much under. Mr.. North IL bet
| ter aware than most men that the woolen mills
| have not been working anywhere near their
| full capacity since July l. 1893. and IT seems
| strange that in thorough annual report he
| does not take note of tina. fact. and Indicate
something OF the extent of decrease in consump-
| ton For whatever no deducted from n max
| lmum OF 5OO.OO0,OOO pounds consumed must be
added TO the quantity apparently remaining on
| hand
Other Investigations have shown that during
| n considerable part of these years nj least the
| proportion Of wool manufacturing capacity not
| employed WINS from 90 to 40 per cent. The
| Judgment has been expressed by men well con
| yer.ant with the business that the average de-
| crease for the four years ending with last June
was Mt least 90 per cent. comparing with year
l A lpcc
than 5OO.OOOoO0 pounds. Il would appear that
| the total consumption In the four years. accord
| Ing 10 such estimates. was less than 4O0O000oO
| pounds yearly, or I.Goo.0oo,oo0 pounds In ALL
and the actual supply was more than 4oooooooo
| pounds greater Hence II becomes a vital error
10 omit the quantity IN warehouse n, the begin
ming Of the period compared. Correcting Mr..
North's foo'Ings FOR lS.sI-'9I, the total supply
given by him would be- o.Ois, 723.5 800 pounds for
| four wears. TO which the 6o55.5 G1 pounds in
warehouse July l. 1903 must be added. The
heavy imports In July before the new tariff
| had passed and before the mills began active
work. amounting 10 II 500 019 pounds must also
| bc taken into account.
| Thus W. have over 2,i26.OOO 900 pounds sup
| piled for consumption In four years and one
month. when the quantity actually used Is be
| Iicycd nv good authorities to have been less than
100000 O0 pounds yearly. Apparently some
thing more than 50o.Ooo.o0o pounds would re-
| main besides the new clip Of 1891. which the
| association reckons at 80 l532Jl pounds. In.
stead Of supply Of 1oo,oO0,oo0 pounds, there
would remain for use a much larger quantity.
n Is undoubtedly true that the woolcn mills
have for over two months been consuming be
yond the rate attained In any previous year. II
the new tariff works we'll and general prosper.
ny stimulates heavy buying for consumption.
they may fairly he expected 10 exceed n con.
sumption Of 5O0.O0O.0OO pounds during the year.
But this would still leave n very large quantity
Of wool to he carried over Into the next year II
there should occur no further imports what.
ever. but in August. with all the warehouses
crammed. the imports were nearly 100000
pounds The manufacturers have at least the
comforting assurance that the supply Of ma
terlals Is not likely TO run short for more than
n twclvcmonth. though OF some much-dcslrctl
qualities they may need further imporatlons
t,o., r,,io, No Federal inf