AMERICAN WOOL MARKET.

Press, Volume LII, Issue 9021, 6 February 1895, Page 5

AMERICAN WOOL MARKET.

OPERATION OF THE NEW TARIFF. LATEST REPORTS FROM LEADING CENTRES. NEW YORK, January 5. The woollen schedule (X) of the new tariff went into effect on January Ist, and there ! was, as had been expeoiad, a heavy with- j dr*wal of goods previously accumulated in bond, bat as yet the fall effect of foreign ! competition" cannot be determined. As, however, a very large percentage of the withdrawals had already been disposed of, and passed directly into hands of waiting customers, there were few offerings made on j open market, and values have not been influenced so far as can be discovered. It is calculated that fully 80 per cent, of the goods taken from bond this week were already sold. Of coarse it is vory natural that domestic manufacturers should watch the result of the competition they have to encounter very koeuly, and doubtless many will postpone their attention to wools until they feel better satisfied over the situation, bur. there are others preparing to go right along, either through choice or the necessity for meetiug the contracts made against camples of goods presented, and that has brought a larger number of them into the market this week. Such* an attendance could not be accepted as an assurance of business at once, yet it has- led to many sample purchases, from which good results are calculated upon to follow pn both domeatio and foreign Quo wools. Upon the subject of prices, however, the expression isi not as a rule particularly j sanguine. Buyers admit the remarkable cheapness of wool, but do not see that they are called upon to bid up the price so long as they find no stimulating effort on pare of sellers, and the chances are that a considerably larger quantity of stock will have to be taken out of first hands before the hardening process on values will set in. It is generally understood that offerings from abroad are indifferently made and only at figures that slightly exceed those asked on supplies already here, buc some rumours are floating of considerable quiet dealing in parcels to arrive, and among others that one large manufacturing concern has, to the extent of half a million aud possibly 700,000 pounds, made ventures in tops, originally bought in Franco by English operators and re-sold to come here. In our local deals this week there have been a great many Montevideos, one lot of 400,000 pounds, but they had* the usual private terms attachment and exact price is not generally known. Some rumours prevail that they went somewhere along about 12£ a 13c, but it seems to be guesswork only, and we give it, as such. In domestics pulled wools retain a fair place and there is considerable call for fine Territory, although of the latter the handling has been of sample .bales in the main. There is not much information from interior points or from abroad at the moment, except that foreign holders remain somewhat stubborn in resisting the best average bids they obtain from this side. Carpet wools have been fairly active, and also experience the promising feature of having an increased number of sample bales taken. Some of the demand comes, too, from smaller manufacturers who have for a long while been off the market, and may be considered as representing new custom, making therefore so much the more encouraging feature. They all expect former low prices, however, and are getting them as a rule .in consequence of many odd parcels still hanging over the market upon which owners want to realise; but every cloaningup sale now is getting rid of deadwood and inducing holders, who can* do ao to carry against hopes of the early future, especially a3 rates on this side are below a parity of cost at which desirable additious could be laid down. Between what the confident holder asks and the selling holder accepts prices naturally continue in the old unsettled condition, but have themeritof being no lower than last week, and some desirable parcels have drawn a fractionally higher bid than' buyers were previously'willing to pay. •So far as business of tbe week includes 15,0001b fall 8c } 45,0001b do do, 9 a 10c; 70001b scoured Texas, 29 a 32c; 12,0001b scoured palled, 26 a 27c; 10,0001b black Colorado, ■• 50001b Bcoured white do, 23c; 48,0001b fall Texas, 41,0Q01b spring do, 14,0001b Territory, 105,0001b pulled, 80001b scoured do, 50001b scoured Australian; 30 bales East India, IO.OOQIb Cape, 150,0001b and 400,0001b Montevideo, 100,000; and 150,0001b various grades carpet wool lon private , terms. . The; sales of wool on local market during week; will reach in round numbers 1,120,0001b, a pretty good beginning for the hew year. PHILADELPHIA, January 1,

The market for domestic wools is seasonably quiet. The demand- for crossbred qualities has been active, and our stocks were never smaller at this date in the season. Fine washed and unwashed, for blending with Australian, has sold freely. Our stocks of territorial wool, largely used for hosiery, knitted and felt goods, have been reduced by large sales to minimum proportions. Supplies in the interior are nominal only, and much Ics3 than usual. Prices :— New York, Michigan, Wisconsin, &c, unwashed—Fine, 12 a 13£ cents ; medium, 15 a 18centa; quarter, 16& a 18 cents; common and burry, 10 al3 cents; tags, 4 a 8 cents.

Foreign—lncreased interest is evidenced in all classes of foreign wool by both large and small mill owners. Up to now most Of them were occnpied in working op their accumulations of domestic, and now, having reduced the same, they are demanding imported stock. Many of the smaller mills are* not familiar with all kinds, and we are selling them sample bales of a variety of wools. This contingent will forma , valuable adjunct to the large mills who have used all classes and are ready to buy at all times. Port Phillip wools—Greasy extra, 22 a 26centa; do superior, 20 a 23 bents ; do good, 16 a) 20 cents; do inferior, 14 a 17 cents; do crossbred superior, 26 a 30 cents ; do crossbred fine , , 22 a25 cents ; do crossbred Lincoln, 16 a 20cents. Sydney wools—Greasy superior, 18 a 22 cents ; do average to good, 15 a 19 cents ; do interior, 15 a 16 cents; do croesbred, 16 a 23 cents.

New Zealand wools—Greasy superior, 20 a 23 qenta; do average to good, 15 a 19 cents; do infeior, 13 a 16 ceuts ; do crossbred fine, 24 a2B cents; do do average, 19 a 25 cents; do do low, 15 a 19 rants; scoured lambs average, 25 a 30 cents; greasy lambs average, 15 a 19 cents; greasy crossbred lambs average, 16 a 20 cents.'

Cape of Good Hope wools—Cape Western —Greasy average, 11 al4 cents. Algoa Bay—Greasy superior, 13 a 16 cents; do average, 10 a 14 cents. River Plate — Montevideo merino and washed, 11 a 15 cents; do, mestizo, &c, 11 a. 14 cents;' do, Lincoln and crossbred, 14 alB cents ; Buenos Ayres, merino, unwashed, 10 a 14£ cents ; do, mestizo, &c., 10 a 13J cents; do, Lincoln and crossbred, 12 a 17 cents.

A private letter,, dated New York, January 4th, says :— "Bosiness in this country hat. shown some improvement, but not to the extent that was hoped after the tariff matter was settled. It was the general impression that with the removal of the duty on wool there would be a large demand for Australian and New Zealand wool, but so far this has not been the result. Oar manufacturers appear to be watching the market very closely, and only baying for actual requirements until they know just how much and what will suit them. We think that they will take a large quantity, but not to the extent, that will. have any radical v influence on pricos with you, as no doubt our buyers will closely, watch the London market, and be governed by prices there. General business hence to . the colonies is nob very active, and in view of the unsettled' condition of affairs there, particularly in Victoria, we do net feel like, extending bosi« ness relations to any large degree."