THE WOOL BUSINESS IN AMERICA.

Otago Witness, Issue 1029, 19 August 1871, Page 11

THE WOOL BUSINESS IN AMERICA.

(Rm-ol X>'io Torka:)

Now that the winter is over and the sheep once more a-ficld, the fanner will like to know tho present stntvi and the future prospect of the wool business. We have taken it look at the flocks in many \kwU of tire country, ami also among the wool houses of the eastern cities, and find this to be true- - that there has been no general slaughter of sheep to diminish their numbers, and that, coming out of winter m good condition,, there is every prospect of a good clip for the current season.

The wool houses of ]N~e\v York are quite bare of domestic fleece, ha^e Imf i smaH quantity of pulled, and li^ht stocks of foreign. The same is true to nearly ,us great an extent in the Philadelphia market, and in Boston there is, relati\oly, not much moiv. Tin's ftato »>f .iTi.iivs, live \e.ir.v ,i"o, would ha\e sent up the prices of l'enn.sylvania, Ohio, and other Western t<» n high ligure ; and, indeed, there has been a healthy ad\ancc, so that >»\>. 1. to A"X Ohio range*, from ."iO to .">8 cent*.., mwl for very choice lots, to (50 cento., in the Eastern market*..

But the opening of the Pacific Railroad ha-, brought the California »upply within oasy reach, and this, )>y coining in ahead of the Ohio cli]), will counterbalance thu dearth of the market, and take the edge off high prices. L-ist year the California and Oregon supply amounted to some t\\ oity millions of pounds, at an average of twenty to twentytwo cent& per pound in gold. Thib year the supply from the same quarter i& likely to fo<it up twenty-four millions, and the price has advanced at tho opening to twenty, live and twenty-nine eenth, gold. The Reason for shipments from the Pacific c< Mat of the spring clip is just setting in, ami within the next four weeks ue may look for considerable arrivals in the Atlantic cities. Tins is. tll^ way the wool-business looks to-day.

Tho tributors of the T.ible Hill Kecf, .say-s-bhc Bruce Herald, luv<: .suspended operations for some weeks past ; th.it rocf being proved unpayable, however, tly.y Uavo since struck a prospect of ~nl\yU to the ton, on the Ocean View Reef ~n continuation of the same line — and they have set to work this week ii> | getting out t-tone from tl;e nfw reef, wliere a. fiKftf t has been sunk,,.