Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1912-04-08
Boston Wool Market.

Business in the wool market the past
week has been rather quiet in all do
nestle grades, although some small lots
have been sold. mostly low grades. For
eign woods have shown considerable ac-
tivitY, especially croSshredS and low
stock. The figures representing actual
transactions are hard to obtain, but
transfers of foreign wool alone have ex-
eeeded 100000 pounds The period mas
been exceptional in sales of foreign
crossbreds. South Americans having
furnished the bulk of the business, and
the sales are said to have shown a fair
profit for the sellers
Manufacturers have shown such inter-
est in the market and dealers say they
have been driven to this by necessity.
The scarcity of desirable low woods, at
an attractive price, and the continued
demand for goods have changed the at
titude of manufacturers in large meas
ure and placed them in a position where
they no longer dominate the market.
The most conservative members of the
buyers market. but that holders are
now in a position to dictate terms to Il
greater extent than for long time.
1t is necessary to go back to 1907 to find
a time when mills We're running as full
as at present. As manufacturers made
large purchases of domestic wool around
the first of this year and since that time
large importations of Australian and
New Zealand woods for mill account have
been made. March was Il comparatively
quiet month in the wool trade, but evil
operative At least, other conditions
have arisen because of which manufac-
turers are taking much more optimis
tic view of the situation.
This is the more remarka BILE when il is
considered that the political horizon IS
still overcast with more than a posi-
biiity of adverse action upon the tariff.
Some manufacturers are reported as say
ing that they are tired Of waiting for the
action of Congress. They have some
good orders. especially for early deliver
toe nd aiftef af,1 ~.
goods, and incidentally fair profit. All
reports from New York agree as to the
improved tone of the goods market, and
there seems to be no doubt that orders
for prompt delivery are in good volume
Buyers HAYES hown a disposition to
wait rs long as possible before taking
hold of foreign woods. Two reasons have
been operative here. Until the end OF
the season in domestic fleece woods,
prices Were abnormally low, and for a
long time it was commonly remarked
that Boston was the lowest market in
the world for desirable woods. Conse-
quently manufacturers used larger
proportion of domestic wool in making
their samples than for years, and this
was an added reason why they We're slow
to turn from the homegrown product TO
imported wools even though the latter
had the advantage of better packing and
Skrting.
With the practical cleaning-up of the
domestic fleece woods. especially the me-
dunn grades. the attention of manufac
10 foreign crossbred and low woods. Tho
result has been a better movement than
for many months. This gains vastly in
importance when ii is considered that
practically all the Australian woods
available for this country are now on
the way here and that the bulk of the
shipments are actually near Boston.
The Australian markets WERE practically
closed two months ago, with sales for
this country about the same as last year.
In New Zealand the purchases for this
country have been 15.000 to 10000 bales,
against 5000 TO 700 bales the previous
year
In view of the practical winding up
sons, attention has been turned to the
South American market. The latest
cablegram from Buenos Ayres reports
the South American slip as three-auar-
ters sold. with nothing suitable for
America being offered In view of the
labor troubles abroad, there is little
doubt that supplies of wool have accu-
mulated, and il is hardly likely that for
egn markets will advance much right
away.
Conditions in the primary markets 10
not change much. In the territorial wool
sections. buyers and sheep raisers are as
far apart ever on prices and il be-
gins To look as though shearing would
considerable business Shearing has be-
gun in a moderate way n-the fleece wool
sections. Taking the country as whole
much less wool is owned by, or pledged
to- the dealers than was the case at this
time last year.
Recent local trading in domestic woods
has been neither large nor extensive