New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-09
THE WOOL SL'PPLYAND PRICES
STOCKS PROBABLY LARGE ENOUGH FoD
YEAR

YEAR.
The stock OF wool In the country reported ~
"rhe Boston Commercial Bulletin" whose reporto'
have been accepted in the trade as far more en-
titled 10 confidence than any others, amounted on
January J. 1882 to 29l l6s go pounds. about seven
months supply for all mills. against ls7s7.ooo
pounds on January |. 1898. increase OF lliSn.ee
pounds. The clip OF last year is reckoned by the
Wool Manufacturers Association at 2ss7D.0e
pounds and the imports In ten months OF the year
have been S.423S 5i pounds. growing very small 10
the later months, that out OF new supply OF
about s 90 600 pounds all but about 24 00o 900 has
been added 10 the known stocks on hand. As no
imagines that the consumption in manufactuEo
has been so small the obviously necessary con-,
clusion Ia that from unknown stocks held by grow
ers. dealers and mers enough has been drawn 70
make up the rest OF the years consumption. But
this gives fresh evidence OF the truth urged year,
ago. that the ascertained stocks cover only a part
and not by any means constant proportion OF the
quantities actually in the country awaiting con-
sumption The Boston Commercial Bulletin" ex>'
pressly excludes that notion. which Is by some per-
sons made the basis OF all their reasoning on the
subject, in saying These stocks do not incluoo
wool stored in Boston. in out OF bond. by manu-
facturers" and such wool is not for sale. and the
including of any part OF II I'm the stock on hand -
false and misleading" Whether or not this II z.
correct view does not matter: II Is the one ex.'
pressly declared to govern the reports OF thas
journal.
Accordingly when It appears that 90 ii5 pounds
were in bond at New-York. while only 7ss60oo
pounds included as the stock OF foreign wool!
in this city. II be presumed that information'
warranted omission OF l41i9.i5 pounds as owned oyj
manufacturers. Bu II so. that quantity OF wool.
was no less actually on hand. and forms part Of;
the quantity still available for consumption. Thisi
will increase the quantity known 10 be available tol
305 3lS los pounds not including the unknown ousj
very heavy stocks held by Eastern mills at Boston,
or elsewhere. Now the Eastern mills do not starrs
up with especial activity In midwnter they havss
done recently. without having in sight good stock
for the four months which must eapse before new
supplies will begin come forward. Tho mills
which are supplied from Boston. New-fork ana
Philadelphia usually consume. when fairly active
over 600 pounds yearly. and II would De sur
prising II they had met sudden increase OK de'
mand at the year without moro than loooV0.0ou'
pounds their control II this quantity Is also,
available for consumption It would make not far,
from 400 900 pounds whereas the greatest con-
sumption actually known has been about 5oo.o00,0oQ
or nearly ten months supply. besides the quantities.
held by mills and growers throughout the West.
II Is In the light OF such facts as these that van
Gus accounts intended to produce belief that the
stocks OF wool will he exhausted by May or there
abouts have been treated as not entitled to conn
dence. One only guess how much the farmers
yet hold Some OF them. It is well known. nave
been storing away all they could anora 70 ca 10y
Concluded 70 sell il is not improbable that the
quantity 80 held Is also larger than usual Inc
scattered mills all over the country not supphoo
from the three chief Eastern markets have been as
well aware as the Eastern works or the improving
demand and accounts of the starting OF many
with good prospects have appeared but IL Is not
probable that these. which consume wren active
at the rate OF 20CU.oOO pounds In a year, OF even
more. have been caught without stocks on nsma:
The quantity held by the trade ana py hasterm
mills alone would more than meet the wants or All
the mills II fully occupied, Tor apout zen mon.ns
These other stock should make the supply enough
for at least year. at the largest known comsump-
ton hitherto. AMI 49,. ..
THE failure of the Assabet Wooen Mills just ae
the end OF last year may not De ia any
large degree 10 the course OF the market for ma
terials and IL Is the well-known fact tnat the
situation was for months very trying TO companies
of HIGH rank and credit. When wool was rapioiE
ber / 1896 on 100 quotations by Coates BrotherA OF
PHILADELPHIA TO 1914 cents I'm April or last ycess
with imports Of 235, 10000 pounds. ana was fuInesj
advanced TO IL 02 cents, with further imports OF ~
10000 pounds before the arin went into erect NC
then with all the enormous stock on nanu W.
further advanced to DS cents on February l. Win
further heavy import tons which went mainly into1
warehouse II was obvious TO most observers that ~
reaction would have to come before inc w.
manufacture could become sufficiently active 10 ms
sure prosperity 10 growers. For until the manus
facture can proftaby consume large quantities %
wool not merely for short time. but CONTINUOUSLY
for years. no one can with reason eSpec. WUoa-
has now declined 1893 cents. fall OF "a cents
from the highest point. In February and yet II -
Ot cents or nearly 40 cent, higher than IL waS
when President Mckinley was elected but the av.,
erage of prices obtanable for wooen goods Is only
10 per cent higher than at that time That both
wool and goods too low prior to last year may
be granted. But the attempt to put up materials
one which has been made many times without
gratifying results.