Democratic Sentinel, Volume 16, Number 11, Rensselaer, Jasper County, 1 April 1892 — Comparative Wool Prices. [ARTICLE]

Comparative Wool Prices.

Demand and supply regulate the prices of wool, as of other products. But in the wool trade certain factors enter more prominently than in tho trade in most other articles. The quality and availability of wools are powerfu factors in determining demand, and therefore prices. Similarly changes in fash'on, by stimulating or decreasing demand, affect prices equally witSi changes In supply. Thus, during the past year, some wools have greatly fallen in price, while the price of others lias been well maintained. Each variety of wool produced has a use for the purposes of which it is better than any other wool grown. The price of wool, therefore, does not depend upon the relation between th«> general demand and supply, but rather upon the relation existing between tije demand and supply of each particular variety. The general expression, therefore, that “wool is up” or “down” carries with it no real significance. Various attempts have been made to compare the prices of certain wools In this country and in England for the purpose of determining the effect of jhe tariff upon prices, but usually without satisfactory results, for the comparisons have included varieties of wool entirely dissimilar. There are two varieties of wool which approach each other very closely in quality, use, and condition. In addition to this, accurate records of their prices have been kept. These are Ohio medium fleece washed and washed Port Philip fleece. The former is % standard variety in the United States and the latter in England. For these wools a comparison is possible. The following table shows the average yearly prices in gold in Boston and London respectively. London quotations are those of Windeler & Co., and the American prices are taken from Mauger & Avery’s wool circular:

.riS dfi £•£ f- it 22 i*2 22 -jj ou do 3C ft«o 1006 r<s 47% 1879 37*4 41% 1307 86% 43% 1860 613-5 451-5 1863 33 4. % 1881 45 4-5 41 1609..; 37% 84 1862 45 1-5 43 3-5 1373 40 4-5 34 1-5 1883 41 3-5 42 1371 50 3-51421-5 1884 36 39 2-5 1872 ;ott 2-5 51-4-5 1885 '3B 1 5 85 2-5 1873 48 3-5 52 1-5 1886 35 4-5 83 1874 48 3-5 51 3-5 1887 36 4-5 32 1-5 1875 44 4-5 48 1888 34 32 1-5 1870 38 45 141 4-5 1369... 37 3-5 30 1-5 1877.: 41 41 4-5 1690 36 4-5 33 4-5 1878 ,39 2-5|41 1 5 11891 30 Port Philip fleece has averaged higher for thirteen years and lower for twelve years than Ohio medium floeee. For the twenty-five years ending in 1890, Ohio medium has averaged 41.49 cents per pound, and Port Philip fleece 41.08 cents per pound, showing a difference in favor of the former of .44 cents. If wo eliminate the prices for 1871 and 1872, when speculation was rampant in this country and wools were contracted for on the sheep’s back at from 65 to 70 cents per pound, we arrive at the following averages for twenty-three years: Ohio, 40.26 cents per pound, and Port Philip 40.52 cents per pound, showing a difference in favor of the latter of .26 cents per pound. During the whole period both wools have risen and fallen together. From every point of view this shoeing is a remarkable one, and deserves careful consideration on the part of those who believe that th • wool grower in the United States can derive any good results from a high duty on wool. —New York Daily Commercial Bulletin.