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Boston Wool Market

Boston Wool Market image
Parent Issue
Day
14
Month
July
Year
1865
Copyright
Public Domain
OCR Text

Tho market continuos very firin, with a güüd iuquiry, büt stocks of old wool are sold pretty close up, and trausaotioas duriug tbe week have boen limited by the soarciiy of desirahle staple. Indeed, strictly choioe iots of fino Ohio aud Pènnsylvania fleeoe are scarely to be had at any t'atej aud the few now rarnaining untolii are held above the market at i'ancy prices - which, however, there is evtry prospect ttiut they wil i shortly realize. Iu this dilemma, consuméis, with contract for Fall goods te be filled as speedily as posible, have to chooae batween tbe horos wbich it presenta. They aiust either modify tlieir luftchinery aud fall baok upou the foreign material ; or reeort t tho coun try, where the chances are that they will have to pay the wool-grower considerably bigher priees on the spot taan those current in the Eastern markets - besides prejudicing tbeir own interest by establishing higher ratos at thu openiug of the seasou, The Western farmers seem to b wel! aware of the advantages whioh they poasess, on the score of the manufaoturer's neeessity for controlling the markat and 6xing their own prieos; and their pretensions have been rather gaining ground ot Inte. " But, after all, this advantage iray prove to be quite short lived. As long aa the Bastero markets continue bare, they may have the game in their own hands and succeed in exacting extreme prices frorn buyers who 8re forced into the country. But as soon as iiew wool begins to acouuiulate in the markets of consumption, where it raust come in cornpetition with and be regulated to a great extent by the pnce of foreign staple, tbe tido witl bo apt to turn, manufacturers will witbdraw their ageuts from the country, the coosuniers will have soma voice in adjusting rates, and then a roaction ia very likely to set n? With growois of choice Ohio and Pcnnsylvaniii clipw holding at 75c, which is equivalent to upwards of 80o laid down here, it is useltss to expect the Easteru markets to come up U the Western standard ; sinco choice old Capo wool would be oheaper at 40o, which is an outsido quotation, thao the Oost of domestic uow erop at the abovo figure. New Western wool is beginning to anive in small quantities, and is generilly in better coudition, and more boneatly deansnd and packud than was tha case lasl year. Operators are piekiug i up small lots of Illinois and Wiitoofikin at 45a50c; Michigan at 5Ua55c, and Oliio ut tiOaööc - tlüjugh tho best portion of the clip in the lust muutioned State is held, and it is underntood that j Borne manufacturing orders have been ' placed, at something nbove the outside I Ggures. On the whole, very little i gress bas been made aB vut in tho i ness or ruai keting the wool erop ; out the country ; and buyers and selIers remain apart and rates unsettlod. Fioe ioreign wool is in irnproved i mand, owing to the scarcity of dornustio, : and rates aro firra uud tending up. Notwithstauding the feeblenuss of tho gold market, Uirge Bules of Capo havo been made during the psst week, (prinoipally iu New York, on Boston aocount,) ut prices which uould not be ob , tained the week previous. Oonsumors ar jyt nov diepoeed to turn their at(-n ' tion to this class of woo!, pending the reeeipt of the new domestic cüp, and those mnuijfaoturers who are ooustotned to workmg theni do uot hesitateto supply theroAelrea freely. Sules of domeptic for the week foQt up 450,000 11)8., nt a range of 55a75c for fleece, nud 65aS0c. for uper and extra pulled. Inoluded ai u Iota of Illinois, fleeoe at 55:i61e ; New York and Verraont ut fiOaGöe ; Michigan at 65a70o, including a lot of new at the ins'de 6gures; and smul! parcela of Ohio at 70o a75c. - Commercial Bulletin.

Article

Subjects
Old News
Michigan Argus