10 TRANSACTIONS OF THE 



The wool product of the State during the past year may safely beset 

 at forty-four million pounds, an increase of five million pounds com- 

 pared with the product of eighteen hundred and seventy-four. In 

 quality the staple was fully up to the average of the past six years — 

 two-thirds of the wool graded being classed Al, and the remainder 

 A2 and B. Owing to the extensive shearing in the fall of eighteen 

 hundred and seventy-four, the spring clip was generally below the 

 average in respect to length ; but, excepting some parcels of Southern 

 wool, the condition was extremely good. California possesses an 

 advantage over other States, in that the greater part of this staple 

 can be shorn and placed in the manufacturer's hands before the East- 

 ern or Western wools are clipped; and at a time when stocks on 

 band are necessarily small, and dealers are desirous of replenishing 

 exhausted stores. The experience of the past year shows that it is 

 better for our producers to shear and send their wool to market early, 

 and thus reap the benefit of the high prices then to be obtained, than 

 to wait until the later period throws them into competition with the 

 productions of other States, and forces low prices upon them. Qual- 

 ity should be aimed at above all tilings. There need be no fear on the 

 score of quantity. The rapid increase in production, for the past 

 twenty years, gives ample proof that the Pacific Slope will event- 

 ually grow the chief wool supply of the country. In proportion, as 

 the quality becomes finer at home, the necessities decrease for the 

 importation of foreign wools, so freely used and so indispensable in 

 the manufacture of the finer textile fabrics. The intermixing of 

 choice breeds of foreign stock has already been adopted as a policy 

 among our growers, and should be continued. The fall clip of eigh- 

 teen hundred and seventy-five was made somewhat earlier than 

 usual, the first parcels seeking a market in August. The condition 

 and staple were superior to those of the previous year, which is 

 probably due to improved blood. Although low prices and the grave 

 financial situation prevented many from shearing during the fall, the 

 showing at the close was a satisfactory increase over corresponding 

 previous periods. It is worthy of remark that at no time has there been 

 an accumulation of stock. This was owning to the readiness with 

 which dealers accepted current prices, and to the steady Eastern 

 demand; the year closed leaving less than five hundred thousand 

 pounds in the State, out of a production of forty-four million pounds. 

 Present appearances indicate that it is quite possible the clip, this 

 coming spring, will be double that of last year. 



The wheat yield of the State during the year amounted to four 

 hundred thousand tons. Our exports thus far have been two hun- 

 dred and thirty thousand tons, and, estimating what will be retained 

 for food and seed, we have now stored awaiting transportation abroad 

 one hundred and twenty-five thousand tons. At the beginning of 

 the year it was estimated that our crop would be fully one hundred 

 and fifty thousand tons in excess of that of eighteen hundred and 

 -eventy-four ; but the lack of rain in the spring injured the crop, and 

 it was at one time feared that the yield would be far below tin- aver- 

 age. The fine silk-dressed flour turned out by our mills fully attest 

 that the quality of the crop was excellent. More of our wheat should 

 be exported in the shape of flour. The milling industry thus en- 

 couraged would afford employment to additional thousands. In 

 respect to values the year was better for the producer than for the 

 buyer, the former having obtained better prices than usual, while the 



