Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1904-05-05
WOOL PRICES
STILL WEAK
Spite Of Favorable Condi-
tions For High Values De.
mand is Below Supply
MILLS SUSPENDING
Remarkable Fall on MerinO
Wool and Rise Of Medium
and Coarse Grades

PHILADELPHIA. Pa, May 5.-Al-
though the theoretical and statistical
side OF the wool situation would indi-
cate higher prices, they are weak.
The trade is confronted with on
unique situation. Good crops last
year, long, cold winter, sound finan-
tcial conditions. and the smallest wool
supply on May 1st for many years.
[are conditions that should have a
bricelifting influence, yet prices are
falling because the demand has
thriink below the supply.
Manufacturers are not receiving
Enough orders for goods in many OF
tie mills to keep them open, and shut
downs all over the country are now
matters Of weekly occurrence. 1t is a
II serious matter for manufacturer to
close his mill. 1t not only means loss
Of profits, but his trained help becomes
&scattered, and 1t is an expensive and
annoying matter to get them together
again, and rather than submit to this.
he will usually risk making up goods,
trusting to favorable market later
on.
Today the only styles that seem to
be easily salable are those made from
medium and course wools, the secured
cost OF which, for the first time for
nearly half century, is higher than
Nthat of merino. Manufacturers con-
slider this abnormal situation as only
I temporary, especially as it exists now
where else in the world, medium wools
in England being from l3 cents to %
! cents lower than merino, and do not
feel justified in making up goods out
Of such high priced wool except they
have orders already booked.
The fall of cents per secured
pound on merino wool since last Feb
ruary makes II look as though this
grade at least is safe enough for man.
ufacturers to use, but they hesitate to
risk making goods out of fine wool in
the face Of the uncertainty as to the
tickle demands OF fashion. The wool
trade, therefore, at the opening Of the
1904 wool clip season Is confronted
with an uncertain, weak and halting
wool market when they expected high
er prices as result OF the exhaus-
tion Of supplies.
The supplies Of coarse ANA medium
wools for many weeks have been so
nearly exhausted that q cents was
looked upon as a certain price BY this
time for an average medium unwash.
ed fleece; but since January LIST near.
ly 60,0O0,000 pounds Of coarse and
medium grades have been imported,
the average free trade cost Of which
was about Is cents per pound This
low average Is owing to the fact that
66 per cent was wool of the third
class.
The pinching period Of short sup.
plies that was looked for as sure
price-lifting factor has been bridged
over. The new clip is now arriving,
AMI manufacturers are Indifferent 10
the tempting offers Of old wool pressed
fof sale TO close accounts.
This Is a presidential year and ex.
perience has shown that sucii have
not been years Of rising wool prices.
Further, an unsatisfactory situation
with regard to orders for heavy weight
woolens exists, and the season for
them has been failure.
The wool season Of 1904 opens with
,discouragement 10 manufacturers, and
to a lesser degree, perhaps, to deal.
ers also The market Is dull with
prices In buyers favor.
There Is no influence now In sight
that can be counted on to arrest the
downward tendency Of wool prices,
guless II be higher cost Of wool in the
country, or that the London May wool
sales should show an upward ten.
dency.
The prosperity OF this country de-
pends upon harmony between capital
and labor which at present in some
states are in a condition Of actual
war, as in Colorado. With harmony
secured, the greatest prosperity in the
United States may result; labor or.