OUR ENGLISH WOOL LETTER.

Press, Volume XLVIII, Issue 14406, 13 July 1912, Page 2

OUR ENGLISH WOOL LETTER.

CROSSBREDS MAINTAINING THEIR POSITION.

(SPECIALLY WRUTEX FOR "THE ' PRESS.") BRADFORD. May 31. Business on Bradford Exchange has slowed down considerably this week, and with holidays interfeiing with the "daily round and common task." less is reported to be doing than we have seen tor some considerable time. The fact is. no one to-day is either a keen buyer or seller, an<l this is but a natural sequence-of'what has gone before. If it were possible, in true American style, .to tabulate the amount of wool and tops sold. I am certain that the total would be fairly large, and although the figures are not available, there is evidence that a big business has been done, for sellers to-day are content to rest upon their oars. The whole industry seems to be passing through a rather peculiar experience. On the one hand merinos arc looked upon as being sale, and with the reported partial drought in Australia, holders are satisfied that they have nothing to lose by waiting. On the other hand, many are very sceptical j about the future course of crossbreds. and doubt if the present prices can be maintained, but 1 certainly can see no j sound reason for a fall. Respecting the drought, the writer was speaking on Thursday to a well-known Australian who is over here in Bradford endeavouring to fix up business for next year and whose opinion is that those" Interested are putting on the magnifying glass, anil making more of the drought than is really the case. He that a.s it may. we are pleased to see that the wookly report of the rainfall ill Australia, for the- week ending May 29th, as issued from the High Commissioner's office in London, gives a longer list of rainfalls than wo have seen, for some time, but it is noticeable that none has fallen in the southern parts of Queensland, or northern Xew South Wales, though considerable falls have been registered in the northern areas of West Australia. It is to Iks hoped 1 that a copious downpour will be experienced throughout the length "and breadth 6f the Commonwealth, for the manufacturing world to-day requires , no lees wool than Australia is turning out at present. An' adequate supply of the raw material is wanted here 3 without it spinners and manufacturers will be seriously handicapped, and though some are predicting that the! Commonwealth has seen the end of its fat years, we all trust that no such. thing will take place. [Since the above was written the desired rainfall has been experienced.—Editor.] ' MERINOS STILL FIRM. - No matter how critically the position of merinos is analysed, it must bo said that they are firm. • It is quite truo that one or two big topmakers havo this week taken 253 d for 04's tops, but they are of ■ a blended character, and not up to it, full standard <i4's. All to whom I have talked refuse point blank to accept a fraction less than even money, and some demand more, than that. What I am most impressed with to-day is the undoubted: strength of merinos, that strength being the, direct outcome of a large consumption. In past articles I have referred to thisy but it is a topic which cannot be overdone, for the strongest feature of all is the present 'briskness of the textile industry not'only • in .Yorksihire, but also in the South of Scotland, Ireland, and! the West of England. I have contended ever since last January that, given an adequate consumption, wool values would bo able to take care of themselves, and I think events have fully vindicated the position I have taken up. Many are impressed with:,the largo, direct arrivals,' and rightly so. But this is a time of the year when it is only natural for the trade to receive a big weight of wool apart from that coming to London. Given time.,- machinery will work up the entire lot, and although I am certain there wiJl be no "backend" squeeze, I fail to see that' there ■will bo any surplus. The trade «ems to have o\;erlooked the important fact that. Continental 'spinners and manufacturers nre busier*-to-day, and that a larger quantity of machinery is running, than during 1911, both France and Germany being distinctly more ac.tivo. The sanuj thing can be said of' the united States, and ns machinery cannot run without wool, I am sanguine enough to believe that the price of inerinos is resting upon the best of all foundations, namely, a large consumption all the world over. Topmakers aro as indifferent as buyers in regard to fixing up neu- contracts, for the former have their whole output sold for at least the next two or three months. After a big buy it k only natural for users to holtl their hand and await further developments. DIOMAND FOR CROSSBREDS RATHER INDIFFERENT, Crossbreds aro not in iTi© came healthy and vigorous position as mermos. though I think there fe not much wrong, if anything, with the former. During the past fortnight there has lM?en a fair amount of rather disparaging; talk about the position of creesbreds, though! fail to see much sign oi any weakness developing when all machinery is fully employed. It is quite true that the expurt end of thetrade is not what it might be, but somehow spinners have been able to keep running through quiet periods in the past, and as yet there are practically no. accumulations. In days gone , by a good deal of talk has been in r dulged in about the unsatisfactory state of the export yarn trade, but the Board of Trade returns have maintained a normal average, and w e helieve to-day that in the aggregate a good business is being done. There are many offers about at a shade less than spinners feel disposed to take, but all the same there .is a nice steady turnover, and it is possible for spinners to sell even yet, and make just a reasonable profit. The Homo trade is undoubtedly the strength of the crossbred situation. I am glad to be able to say that all things considered, the quantity of yarns which is being consumed locally is considerable, and but for the disturbing labour conditions, there would by nothing whatever wrong with them. More spinners than ever seem to be engaged to-day in turning out single 30's, and this trade is perhaps as keenly, cut as any. There is still a very good demand for crossbred noils, and 9Jd can easily be made for 36's and 40's. A littlo more is doing on export account, fine noils not moving anything like a.s freely as those of a lower quality. The nc\ys to hand this week from Russia is not of the best, but German manufacturers are. on the whole, busy, although complaints of less margins harmonise with tho statements made by their Bradford competitors. EXPORT YARN TRADE. Wo regret that there is little or no improvement to report in this brancn of tho trade. Tho bids which merchants aro now receiving from the other side, are much too low to be worked through, and in most cases are from id to Id per ll> less than the spinnor will accept. There is another disappointing feature about the situation, and that is the particulars against existing contracts are not coming to hand with the same freedom as formerly, and if this dearth continues for a few weeks longer, it" is bound to have some effect on prices, at least that is the way some are talking. Already wo know of sniniiers who aro having some difficulty in Keeping their machinery fully employed, but"they cannot reduce j the prices for yarns without losing raoney. as tops and wools aro so very firm. "This refers to the crossbred trade, and to cannot say there is any

improvement in mchairs; - the contrary is the case. Spinners are busy on scoured warps, and as regards bundles thero is any quantity to be had from stock. The recent failure of a German plush manufacturer has not helped matters, as a number of Bradford and German merchants are heavily involved. The reports from Russia are also unsatisfactory. Merchants are finding that their recounts are not coming in as promised; in fact, that they arc not receiving at' the present time either particulars against*orders, or money for due or overdue ni'counts. This is not an state, of things, and it ! therefore behoves merchants to act with the greatest caution in granting credit to Russian business centres. Lodz especially. CONTINENTAL TRADE. The French and German wool trade is inseparable from the. industry in Great ilritain, and tho progress, of th? raw material in the two former countries lias an important bearing upon the price of wool in the markets of Bradford. London, and Australia. The figures which conn? to hand from across the Channel are always read with interest, and are well worth studying. A glaneo at the data given below shows conclusively that conditions in both France and Germany are heathy, otherwise tin: exports of tops would not bo on the present large scale. The following particulars show the quantities of wool imported, and tops and yarns exported from France during April of the present year, and the two previous ones, and for the first- foiir months of the three years named: — April, April. April, 1910. 1911. 1912. Kilos. Kilcs. Kilo". Wool imp't'd 32.711.310 29,352.000 m>516.301 Tops exp't'd 'J.1G5.700 2,919,000 3.209.50(1 Yarns exp't'd 903,030 '835,000 1,069,01)0 Jan.-Apl., Jan.-Apl., Jan.-Apt., 1910. 1911. 1912. KiJoa. Kilos. Kilo?. < WoolimpM 137,501.800 121,156,300 1]5,7.U,£0) Tops exp't'd 9.359.600 10,015,700 10,061,900 Yarns exp't'd :i,&!6,109 4,090,100 4,163,000 | The following are the particulars re- ' ferring to the German imports -of tops during the period from January Ist t"» j April 30th, for the last three years:— 1 IMPORTS FROM JANUARY let TO j APKIL 30th. 1910. 19U. 1912. Kilo*. Kilos. Ki^o". Merinoe •• 3,577,000 2,511,700 0,839.10) Crossbrede 4,430,300 ,4,1)18,2:0 4,720,203 |

Totals .. 8,067,300 7,429,900 8,535,3C0 CROSSBIIi'IDS A J STAINING THEIR POSITION. Many New Zealand sljeep farmers will be looking forward "to the. July series of London sales -with considerubk> interest, and well they might. The arrivals are very heavy. Since the list was closed for the April-May series, no less than 183,513 bales have come to hand trom New Zealand, 79,500 bales have been forwarded direct to manufacturing districts, and if wo add tho 8000 bales which- were carried over from last series, 117,018 bales are alrtiadji to hand to be sold at the next series of auctions. It certainly looks as if there will be at least* 130,000 bales of New Zealand wools available, together with a fair weight from Punta Arenas and the Falkland Islands. I fancy it. will bo found necessary to carry forward some of these wools, but the trade should have no difficulty in lifting, say 100,000 bales from New Zealand, and as tho quantity held over will form a nice nucleus for Septembsr, owners should not hesitate to carry ■wools forward if to do so will help to sustain current values. At the moment. I cannot see any likelihood of. higher prices, but think that about last sale , .? closing rates will rule throughout July. As previously stated, there is a lifctling wanting hi the exjx>rt yarn trade, but otherwise trade in. manufacturing areas is very good. k The following is the list of arrivals to date:-- . •

SCHOOL COMMITTEES.

Tlio monthly meeting of the Lin wood North School Committee was held on Wednesday, present: —Messrs W. Denton (chairman). Gundrv, Kllis, Dixon, Phillips, Carter, Herbert, and J. A. Clarke (secretary). Tlio Education Board wrote agreeing to lower the channel for the proper drainage of the grounds. Correspondence was road from the City Council granting the use of the Tepid Baths tof a swimming carnival in aid of tho bath funds. The head-master (Mr F. T. Evans) reported that tho school had been examined by Mr S_ C. Owen, on July Ist, 2nd, 3rd. andjs4th, when there had been a capital attendance. Tho average attendance for the month was 438, the. highest attendance 452, and the average roll number 478, the roll now being 483. It was decided to ask tho Board of Education for additional assistance on tho staff, also that a wooden partition should be placed in the large class room. Messrs Gundry ami Phillips were appointed a visiting committee and Mr W. Young was elected to the commtttee in place of Mr H. Murray, resigned. Mr W. A. Cooke was thanked for his generosity towards tho school library, and regret was expressed at his departure from the district. Tho school had been \-isited I by the Royal Education Commission, the I members of which had expressed themselves as highly pleased with what they had seen. •••■ _ At tlie ninthly meeting of' the "Waltham School Committee, held <n Thursday, the Chairman renorted that the social held on behalf of the school funds had resulted in .a not profit of £6. which was considered very satisfactory, and it was decided to hold another social ami dance on Friday, July 2Gth, in the Waltham Hall. By holding a series of such gatherings during the winter months it was hoped to raise sufficient funds to keep the committee's accounts on the credit side of the ledger. The Clmirman also reported that tho Education Commission had visited the Waltham f-ehool while in Christchurch, and on being shown over tho school and grounds, they were loud in their praise of the way in which the school was kept, one of the members of the Commission stating that the school was one of the best-appointed they had as yet visited. The headmaster's reix>rt slvowed that the attendance was keeping up very satisfactorily, the highest attendance being G57 out of a ioil number of G9O, and the average tor the year 632. It was decided to cioso the school on Wednesday, JuK' 17th (Arbor I>ay), and, ;{ possible t<) plant some shrubs, kindly given by tho chairman, in a triangular plot ot tho school grounds at the. north-past; '. corner of the playground. .Messrs Warkins. J. Empson, White and Geo. Ablett promised to supply prizes for the progressive euchre contest on'julv 26th. and it was decided to thank M=.l. Empson for his hospitality to tho School Committee on sceeral occasions.

SUFFERED THREE YEARS.

"For three long years I suffered continually trom relaxed throat and cold on the chest," writes Mr J R Craig Jnr., 467 Nicholson St. North Carlton,' \ ie, I could not shake this cold off. I .tried- cvenrthinß without yetting any r ell , cf : ,JV fne . n 4, recommended Chamberlain s Cough Remedy, and 1 am vorv thankful that he did, for I cannot S S too hi-hly ot it It gave mc immediate relief and quickly cured mc." gold by all chemists and storekeepers 7

■ Jiess '• Avail- \ Fpr- • Add ■ able to New wordings Old Pioaent \ Arrivals. Direct. Stock. Dsts. 3ydiu?y .. 50.111 32,000 2jSC0 ■ 20,911 7.S83 ?,ClfK) 200 G,08t. Pt. Philip .. 82,5-14 S-'.oCO 3,500 31,541 Adelaide .. fi,2E*J 1.500 2,300 7,f5'. 5 wan Rivor 8,05* .. 1,000 ».O58 rasmariian • G,O33 .. .. (>,030 S T cw Zenlrnd 1S3.518 79.5fi0 8,003 117,018 :apo : .. 53,808 43,030 2,000 12,833 ToUl .. 403,217 212,500 20.0CO 210,717