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TBE WOOL TRADE IN AMERICA.
The following article from the Boston Shipping
List of August 9 will be read with interest:—
' The market for domestic has again been quite
active, and large Bales of fleece. Dulled and
California, have been made, amounting to
upwards of 1,000,000 lbs. Some of the
principal holders of fleece are now quite
indifferent about selling, and have refused
offers for large lots of desirable fleeces, at
about current rates, that would have mate
rially increased transactions. Manufacturers
have been free purchasers, and a few sales have
also been made on speculation, as the belief has
become quite general that the wool market has
touched its lowest point for the present. The
transactions indicate, as we have noticed in pre
vious reports, that our manufacturers are running
almost ^exclusively on domestic, and some
of the largest purchasers of fleece the
past week were using Australia almost exclu
sively last year at this time. Domestic wool, in
consequence, is rapidly passing into the hands
of consumers, and a sufficient quantity of the
clip has already been taken to ensure a steady
and firm market for the balance, with the pro
spect of a higher range of prices a month or
two hence ; but holding wool has turned out so
unprofitable for some years past that receivers
do not hesitate to meet the market when respon
sible buyers present themselves, and when full
current rates can be realized. The transactions
in California have been the largest we have ever
had to report in one week, comprising 987,000
lbs. The sales for the past twelve weeks, since
about the middle of May,, have been 7,454,000
lbs. California, averaging nearly 600,000 lbs. per
week, and as we intimated some time ago, the
great bulk of the California clip is coming direct
to this city. Prices have scarcely varied during
this time, the highest price paid for round lots
having been 35 cents per lb., with some few
exceptions, and ranging about 10 cents per lb.
below this figure, according to condition. Last
year, at this time, a large portion of the Califor
nian clip remained in the hands of speculators.
In the goods market there has been no decided
improvement as yet, but manufacturers have
purchased raw material so much cheaper thAn
last year, the business must be more remunera
tive; and if the full demand, now near at hand,
comes up to expectation, the manufacturing
business is likely to recover from the depression
that has so long prevailed. There have been
further shipments of 182748 lbs. foreign
to Great Britain. Advices from tbat
market are still quite favourable. The
transactions in foreign during the week
have been very light, and we do not look for
any important improvement as long as domestic
fleeces can be purchased at 45 to 50 cents per lb.
On the whole the prospects of the wool market are
more encouraging, and although we cannot
quote any advance on recent current rates the
market has evidently touched its lowest point,
and a gradual improvement can now be con
fidently looked for. Ih California wool the sales
include 25,000 lbs. choice spring at 36£ cents;
160.C09 lbs. do. at 33 cents to 35'certs; 277,000
lbs. spring at 27£ cents to 35 cents; 330,000
lbs. spring at 26 cents to 35 cents; 10,000 lbs.
spring at 35 cents; 30,000 lbs. spring at 33cents;
10,000 lbs. spring at 30 cents to 31 cents; 10,000
lbs. spring at 30 cents; 50,000 lbs. spring at 27i
cents; 5,000 lbs. spring at 27 cents; and 50,000
bu»ry spring at 25 cents per lb.
$