BRITISH WOOLLEN TRADE.

Auckland Star, Volume LI, Issue 20, 23 January 1920, Page 2

BRITISH WOOLLEN TRADE.

CHARGES OF FROnTEERIHG. ANOTHER SIDE TO THE PICTURE. Mr. J. W. Shaeklcford, merchant, of this city, who has just returned from » visit to the Homeland, was seen this morning regarding the news cabled as to profiteering in England in the woollen trade. Laughingly Mr. Shackleford said "It is manifest there is something wrong with the figures as cabled. To speak of an extra profit of 400 to 3000 per cent is clearly absurd. Of course we are an aware that prices of all woollen goods have risen enormously since the start of the war, but there are contributing causes which should not be overlooked. Prior to the war spinners were selling yarn at 2/6 per lb, but now the price is 17/6 per lb. This enormous rise is easily ■explained. Spinners have to use high ! class wool, which costs from 6/ to 8/ J per lb. Then in spinning yarn only I about half the wool is left for the beet cloths, the other half going into inferior stuff which has to be sold at a correspondingly less price, i 'Then too, the wages paid by i spinners increased enormously during i the war. I do not know what was the 1 pre-war average, but when I was at ■Home spinners were getting from £7 ■to iS> per week. Thus we have greatly increased cost of wool, and more than double wages to be deducted from the alleged profiteering prices. A .simple sum in ari&hnietie will demonstrate the absurdity of talking about an extra. 400 to 3000 per cent profit. The trouble U that isucli wild statements all tend to create unrest amongst the people. Since my return I have been informed that wool was being sold by an Auckland warehouse at £4 18/6 per lb, whereas the price is actually lees than one fifth of that sum. There is no doubt of course that the British yarn spinnera are very well, as they can practically dictate the prices to be paid for their manufacture, and they are having an enormous turn-over, but all .the fame they are not making the enormous profits alleged. I notice they have asked the public to wait for the report of the committee set up to investigate matter!. ""One thing I can say of British manufacturers generally, that is that they do play the game. 'Firms are delivering goods, now in. Auckland, at D/ 3, which could ready be sold at 13/. These lines were ordered fifteen months ago, and the British .merchant is supplying at the rate then ruling, although it mean* a loss of i/."