CALIFORNIA WOOL TRADE FOR 1876.

Otago Witness, Issue 1319, 10 March 1877, Page 18

CALIFORNIA WOOL TRADE FOR 1876.

A review of the Wool trade of California for the past year is necessarily" to some extent a history of the trade throughout the country for that period, Our clip has become of such importance to the dealer and manufacturer, that San Franis now admitted to be the market which regulates the prices of Wools grown elsewhere, whether foreign or domestic. A brisk demand and an active competition carries the price of the staple up to the extreme limit that buyers can afford to pay for it, and our farmers are always assured of a ready market at its full value. The spring clip showed a good deal of scabby ano\ diseased Wool, but was in the main well grown and in light condition ; it was sold off readily within the range of ten to twenty cents as extremes, which was a full, if not a satisfactory price, when we consider the dulness and stagnation in Wool and woollens, the frequent failures of manufacturers and cloth houses, which amounted to a continuous panic in the trade for the first eight months of the year, bringing the price of Michigan and Ohio washed fleeces from 47 @ 52c currency a year ago to 28 @ 33c currency six months later. There was a little fluctuation in the prices for the season. The clip was handled rapidly and disposed of as eagerly on the other side at prices giving only a small commission to the dealer; manufacturers, tempted by its relative cheapness, used it freely, and by the first of November no desirable lots of spring California were to be found in any of the Eastern markets. Our entire clip of thirty millions pounds has been placed where it would do the most good in the hands of manufacturers. Fall Wool began to arrive in August, and although it was very short, not more than four months' growth, it found a ready market at from 9 ® 13c. . Receipts were large in October, and being of better staple, the price had gradually advanced until 11 © 22c were the extremes. The market was active, and the clip, although much larger than any one had supposed, would probably all have been sold had not the Presidential election and the complications connected therewith intervened to check the demand and stop the orders from the Eastern side. As it was, the first of December found us with a stock of about four million pounds left out of more than twenty-two million pounds. It is too early yet to forecast the market for next spring ;, we can only say that the trade is in a satisfactory condition.

The stock of Wool on the Atlantic seaboard is not in excess of the wants of manufacturers, nor is the stock of woollen goods in advance of the requirements of consumers. The trade is dull now, but with a peaceful solution of the Presidential embroglio the outlook is flattering for good prices and an active market next Spring. The prosperity of the Wool business in California depends upon the growth of fine Wools; farmers cannot exercise too much care in the selection of

rams for breeding purposes. A wrinkly sheep always gives a short, coarse gummy Wool, alike the dread of the manufacturer and dealer, and where they have to be shorn twice a year, as in most sections of our State, it is too short for any spinner. For breeding purposes the smooth merinos are always the best ; their Wool is finer, less oily, and longer staple. Since mutton is and will probably remain so low that it can hardly be calculated upon as a source of profit to the grower, we think it would be a great improvement to introduce the Australian merino, the Wool which is much finer than the Spanish or French, less gummy, and of sufficient staple to shear twice a year. More care should be exercised in the packing of Wool for market. It is downright dishonesty to pack scabby Wool, tag locks, dead sheep Wool, and other trash in the centre of the bales, where no buyer can discover it until it is opened for grading. A law should be enacted making such acts a felony, to protect the dealer and the honest grower from the disreputable tricks of his dishonest neighbour. There was as much false packing, if not more, in Northern Wool last Spring as from any other section. From several Northern counties the rejections on the grading floor would run from three to five per cent. We hope that our wool growers, especially in those sections which produce the best wools, will see to it that there i 3 no cheating this season (1877) in the packing of their wools. A little care in this particular will tend to restore the high reputation which their wools have hitherto enjoyed. The tone of the spot market seems to be general indifference on the part of buyers and sellers. All parties seem to agree that nothing will be done now before the middle of January, by which time a better demand is expected. The prices quotable for wool should be considered nominal. No sales could be made at quotation, still holders would not, if there was a demand, be willing to make much abatement. Humboldt wools were offered in lines at 19 @ 20c ; good mountain fleece, 13 @ 14c, and Northern, 15 @ lie. As for condition, inferior clips are difficult to place at any price, and purchases of this class would be in favour of the buyer. Sales 96,000 lbs. at 12£ @ 17^c. — San Francisco Commercial Herald.