WOOL.

Press, Volume LXII, Issue 18634, 8 March 1926, Page 10

WOOL.

AMERICAN TRADE. ~ A STANDARD SCHEME. (tbom ocb own coa3MPOjn>Mrr.) SAX FRANCISCO, January 12. American wool experts have read with interest an opinion inserted in the "Pastoral Review," the great sheep magazine of Australia and New Zealand, relative to better information concerning the consumption and production "wool statistics, and appreciates the fact that Australians and Is'ew Zealanders arc backing the movement of the United States Government and American wool-growers in general, as it has'- long been felt in the United States«that the information should be furnished rapidly, and in net pounds, not in bales, as has been the practice, the weight as such varying, not only as between nations, but also as regards States. The "Pastoral Beview" is being quoted widespread in American wool •publications, more especially the paragvaph which says "Uniform methods of .classification should also be adopted, which will naturally take time to define, but as a b(igiuuing, figures should show the quantity of wool in the grease, scoured, sliped or pulled wool, and the wool on skins, distinguished between Merinos and erossbreds." Just prior to the Australasian mail leaving the Pacific Coast our correspondent received an important communication from the United States Department of Agriculture, captioned: "International Wool Standards Seen in Near Future-World Wool Statistics Desired." The statement issued in Washington said: "Marked progress was made toward the establishment of international standards for raw wool and 'Tops' at recent conferences in Europe between the United States Wool Standardisation Committee and organisations representing the wool trade in Great Britain, Germany, Belgium, France and Italy. "The Bradford Chamber of Commerce which represents the entire wool textile manufacturing industry of Great Britain officially approved a set of standards which was co-related with the United States grades. Wool trade representatives for the other- European countries' asked permission to adopt the standards after they have had opportunity to examine the grades. "The next step to be taken by the Department, of Agriculture to further adoption of the standards will be the preparation of sets of the proposed international grades which will be submitted to the Bradford Chamber of Commercp for approval as to the form in which the grades are N . to be put up for distribution to tho. various trade organisations. ' A series of public hearings in the United States will be held also, at which the wool trade of the United States will be asked to endorse the grades as international standards. "Wool trade representatives in the various countries visited by members of the United States Wool Standardisation Committee indicated urgent need for interchangeable statistics on wool stocks. Many of th<sse representatives advocated compulsory reporting of stocks by manufacturers and dealers to the respective Governments. The advisability of appointing the International Institute of Agriculture at Koine a central clearing houso for these figures to be prepared semi-annually, was discussed, but the prevailing opinion was that the _ Bradford Chamber of Commerce or his Majesty's Board of Trade be charged with this duty in view of the greater commercial wool interest of that country and its long experience in the wool trade." The United States Wool Standardisation Committee was composed -of Mr George T. Williugmyre of the Department of Agriculture, Mr Warren E. Emlcy of the Department of Commerce, and Mr Marland C. Hobbs, representing the American wool manufacturing industry. ■

Another Wool Substitute. A new yarn, .with the warm soft feel of lamb's wool, la now being made from the waste product of the artificial eilk industry, ans United _State3 Department of Commerce officials hold out a great future for the new fabric, which is already being manufactured in the United States as well as being imported from Italy, where it started. The new "wool" is shimmery and dyes in. beautiful colours. Combined with real wool in making 6erge ana other goods, it improved its appearance, as silk does. It is not as strong as sheep's wool, and like artificial silk, does not wash as well. Tins is not a serious drawback for its use in textiles, as only a part of the strength ot materials is necessary in clothing, it is stated. . Chemically the new yarn is the same as artificial silk, for it is either rnade from its scraps or directly from cellulose or wood fibre by the identical process. In making artificial silk, the ciscose, or dissolved cellulose, is spun into a continuous thread like real silk from the cocoons of silk worms. _ The fibres used in the making of this artificial "wool" are shorl pieces from two to six inches in length, which are worked into yarn like sheep's wool. The price of the fibre wool yarn will be from fifty cents to a dollar a pound, as compared with two dollars a pound for the real wool yarn, Department of Commerce officials report. An Italian company is producing this new artificial wool yarn under a German patent, and has placed it on the market, where it is said to have been favourably received bv textile makers. In England a wool-like product called "woolulose" is being manufactured directlv. from vegetable fibre by a process. distinct from that use din making artificial silk. The artificial fibre resembling wool and silk are the only textile materials that man lias added to those provided directly by nature. His cotton grows on bushes, the silt worm spins his silk, the flax plant provides his linen, and the sheep and other animals his wool, "but," says the Department of Commerce, "man has improved in one way on Nature's textile materials, for these rayon fabrics are more transparent to the ultra-violet or short, wave lengths of light which are so helpful in the cure,of many diseases. The new fabrics, unlike the old ones, may enable the fullv dressed man of a civilised age to get as close to the sun as the savage of the South Sea Island." Boost for Bawra. Those familiar in America with wool selling methods which prevail in Australia and in the United States have thought that, by comparison, those of the former country represent almost complete orderliness, says Mr F. R. Marshall, the genial secretary of the National Woolgrowers' Association of America. "With almost no direct sales by growers to dealers, or even to mills, the Australian wools have practically all gone through commission concerns to the auctions. The selling 'brokers,' who are paid wholly by the growers, have planned the selling programme, but something more seems to be demanded. . "After the close of the war the semigovernment organisations, commonly called 'Bawra,' did. a masterly job in feeding the accumulated stocks out to l tho trade ir. a way to prevent demoralj isation. When things started last spring to go awry, those in the selling end of the trade attempted a similar programme, but caused confusion by inability of factions to regulate the selling as planned. Later, Sir John Hig-

gins who had piloted Bawra to success' outlined a plan for stabilising wool prices. Sir John's proposal has been criticised in England as likely to be destructive of speculation. Australian growers have considered it to be too comprehensive, but through their pastoral associations are attempting to secure greater agreement among growers, and more co-operation with selling agencies for regulation of times and rates of selling. "If woolgrowers in Australia need nnd can obtain a still more orderly method of passing their clips to the mills, then American growers will need to- be active, if they are not to admit themselves as well-nigh helpless to influence the selling price of their product. Nothing radical or difficult is needed. Some good starts hare been made, and should be more widely appreciated and utilised. "The coming season offers growers an excellent opportunity to demonstrate their capacity for needed v.nitv of action in selling wool," concludes Mr Marshall in an urgent note addressed to American woolgrowers. Wool Stocks. Wools held by pools and individuals in Western Ameiica have been under discussion recently, but it is stated that) they would not go far in restoring the balance of stocks in Boston, the centre of the American wool market. Eastern buyers have been operating recently in the Middle West and in the territory wool sections of the Far West, the trading has been held in leash by the fact that the prices generally demanded by the western holders are above the parity of the Boston market. Therefore buyers have been proceeding very carefully, in some cases waiting assur--1 ances from manufacturers that the wools in question are really needed. It is the old story of woolgrowers and pools retaining possession in the hope of obtaining the highest possible price from a market devoid of material for the manufacturers. Manufacturers have again declared that prices are too high to meet labpur costs, but the manufacturers have shown no disposition to reduce their present high profits. If there is any reduction it must be at the expense of the mill employee. Some recent sales include 200,000 pounds of wool at Rock Springs to a Chicago house at 41.35 cents, but approximately 800,000 pounds of wool still remain unsold in the same locality. At Vina, in California, 350,000 pounds of graded wool was offered, aac! 300,000 pounds in the original bags. The bulk of these wools was sold to two houses, the prices ranging from 40} cents to 50J cents, the average being about 474 cents for graded wools and 41 to 45 cents for ungraded. According to the last report, telegraphed from the Bureau of Agricultural Economics of the U.S. Government at Boston to San Francisco, business in general on the wool market during the first week of the new year has been very quiet, although some increase in sales was noticeable. Buying was confined to a limited number of manufacturers, but a sizeable amount of the raw product, including both domestic and foreign wools, was taken by these interests. Prices in general for .domestic stock were 5 per cent. [ below the recent high point. Some mention the decline as slightly more than this, figure, but other concerns are holding good stock very firm.- "A limited amount of Australian stock has sold for possibly a. little higher price. Domestic fleeces in general have been rather quiet of late. Prices are slightly easier in some cases., It has been possible to purchase delaines of fairly good stock at) 52 cents in the grease delivered East. "The spot stock of fleece wools has been reduced somewhat through the week, due to the buying m some volume by some of the larger manufacturers," says the Government report from Boston. The Government statement adds: "In the market .for Territory staple wool there' has been an increase in buying, but this activity was due principally to a limited number of mills operating rather quietly around the close of the year. ■ Some concerns specialising in these wools sold more stock during the past week than for several weeks previously. Prices in general are well maintained at the lower levels established of late. Foreign wool has been quiet, but some sales were consummated, trading being spotty in all branches, however. Prices are considered firm on the somewhat lower levels established recently. There is a feeling among the trade that a real trading basis has been reached. Keal choice stocks are rather limited, and the trade is inclined to withhold offerings for the present. Some low Australian wools have sold fully up to the prices quoted." Quotations in Boston for domestic wool follow: Fine strictly combing 53 cents grease basis, 1.25 dollars fleece and Territory, scoured basis. Fine; French combing, none on grease basis, 1.15 dollars to 1.20 dollars fleece, 1.20 dollars to 1.22 dollars Territory, scoured. Fine clothing, grease, 46 to 47 cents, scoured, fleece and Territory, 1.12 dol■/ lars to 1.18 dollars. Half-blood strictly combing, grease, 53 to 54 cents; scoured, fleece, 1.15 dollars to 1.20 dollars; Territory, 1.18 dollars to 1.25 dolla-s. Half French combing, no quotations. Half blood clothing, grease, 48 cents; scoured, fleece, 1.05 dollars to 1.08 dollars; Territory, 1.08 dollars to UO dollars. Three-ejghths blood strictly combing, grease, Si cents; scoured, fleece, 1.00 dollar to 1.05 dollars; Territory, 1.03 dollars to 1.05J dollars blood clothing, grease, 47 cents, scoured, fleece, 90 cents to 95 cents; Territory, 95 cents. Quarter blood-strictly combing, grease, 54 to 55 cents;.scoured, fleece, 9" cents; Territory, 95 cents to 1.00 dollar. Quarter blood clothing, grease, 46 to 47 cents; scoured, fleece, 82 to 85 cents; Territory, 85 cents. Low quarterblood, strictly combing, grease, 47 cents; scoured, fleece, 80 to 85 cents: Territory, 85 to 88 cents. Pulled wools on a scoured basis ranged from 1.25 dollars for AA to 73 cents for -C super and 1.07 dollars for A super. M ' air ran from first kid for 1.00 dollar to 35 cents for stained.

HIDES AND SKINS. At the fortnightly sales of sheepskins, hides, and tallow at "Wellington, the range of prices was as follows: — SheepskiM—Halfbred, IOJd to 12Jd; fine cioßebred, lid to 12id; medium coarse crossbred, 9id to Hid; short to half wools, BJd toj9Jd; lambs, 9d to lljd; dead and damaged crossbred, IJd to lOd; inferior and badly damaged, 4d to BJd; pelts, GJd to 9Jd; damp, salted, and green, 3s to -4s; pelts, salted, 2s 6d to 4s 4d; lambs, salted, 3s to 5s 6d. Hides—Ox heavy, 701b and over, c Jd to 10d; ox heavy, 591b to G9lb, 9id to 9Jd; ox medium, G3lb to GSlb, B|d to ?Jd; ox light, 431b to 521b, 7d to SJd; cut. slippy, and inferior, 5d to 8d; cow, heavy, 521b and over,' to 5Jd; cow, medium, 451b to 521b, 5Jd to 5Jd; cow, light, 331b to •'4lb, SJd to 6d: cut, slippy, and inferior, Id to 5Jd; b'jll Btag, 4Jd to sd; yearlings, 11 lb to 16lb, 8d to 6Jd; yearlings, 17lb to 321b, 6id to Bgd; calf, medium good, lljd to 13Jd; calf, damaged, 3d to ll I ,d. Tallow —In casks, 28s to 34s Gd; in tins, etc., 22s to 26a Cd. PROPERTY SALES. Messrs Jones, McCrostie Co., Ltd., sold by public auction on Saturday, on account of the Registrar of the Supreme Court, the property situate No. 19 Tabart street, Opawa, containing 34,percbe3 of land, together with five-roomed residence, for £950, to the mortgagees; and the property situate at the corner of Shrewsbury street and Andover street, Merivale, comprising 22 £ perches of land and residence of five rooms, for £9OO, to the mortgagees. Messrs Jones, SlcCrostie _ Company report the following at their auction safe: Having sold, on account Mr C. S. Thomas, his residence, together with three-quarter-acre of land, sitnate Holly road, St. Albans, to Mr Harris; also, on account Mrs Cox, her twostoreyed residence, situated Peterborough street west, to a client; on account Dr. Faterson, his professional and residential property, situate corner of Durham and Armagh streets, to Dr. Reay. The total realisation of the three properties was £IO,OOO. —6

CHRISTCHURCH STOCK EXCHANGE. SATURDAY'S TRANSACTIONS. Sales Reported-Bank of Adelaide, £9; National Insurance, 78s 6d. . Sales c-n 'Change.-N.Z. Refrigerating (contr.), Ss 9d; Bank of Victoria (pref.), £lb Is 6d (4 parcel). latest quotations.

OTHER EXCHANGES. {PBFSS ASfiOCIATIOH TBLMBAHSj , DUNEDIff, March 7. Sales—Tvawarau, 6b ; St. Bathans, 3s prem. (two parcels)., CANADIAN CHEESE. COMPARISON WITH ANTIPODES. (prom oub owx correspondent.) VANCOUVER, January 16. • Canadian dairymen are still striving to assert themselves with their clieese products in the world's markets in competition with the splendid position enjoyed by New Zealand and Australia, particularly on the London market, and the subject came up lor discussion at the annual convention of the Dairymen's Association of Eastern Ontario, when Dr. J. A. Ruddick, Dominion Dairy Commissioner, formerly of New. Zealand, said there was a possibility, if present tendencies prevailed, that Canada might regain her old position as-the largest exporter of cheese. "For twelve months ended October, 1920, said Dr. Ruddick,: "Canada's cheese exports were 23 per cent, larger than' they were in the preceding twelve months, while exports of cheese from New Zealand for the year which ended July, 1925, show a decrease of 5 2 per cent. If w© take the total exports of all products from both countries and reduce them to a butter-fat basis for the same period, we find that while Canada's total exports show an increase of 27 per cent., those from New Zealand were increased by only 6.8 per cent." . i ■ The Commissioner said that the ills of the industry, to use a medical term, were functional rather than organic. If Canadians did not succeed in holding their own in the world's markets it would be their own fault, and the result of apathy or indifference rather than on account of any serious disadvantage or handicap in the struggle for a reasonable share of the international trade. Dr. Ruddick said that Canadian butter was undoubtedly improving in quality, and nowhere was this more noticeable than in Ontrio. The improvement in marketing conditions under the grading system was an important factor in raising the status of both cheese and butter. Ur.der the old conditions before grading was established, exporters were not always too careful of the quality of the different lots with which they filled orders for "finest".cheese or butter. Ch'ese XiOsssb Reported. The 300 delegates gladly received optimistic predictions for the success of the industry in Eastern Ontario during l the coming year and satisfactory reports of the work done during 1925. W. H. Olmstead, of Leonard, in his presidential address, said that conditions last year were favourable to the production of a very large flow of milk, and this had been realised. The prices secured for the manufactured products were very much higher than the previous year, he said, and the output had measured up fairly well in quality. Thoughtlessness of a few operatives in turning out low grades, the president warned, reacted upon the industry as a whole. George H. Barr, Director of Dairying, announced in his address to the Convention that he intended bringing in regulations that would cause cheesemakers _ to lose their licenses if they accepted milk that was not in good condition when delivered. He pointed out that because of the insanitary conditions of many factories, and also because of the bad condition of some of the milk delivered at the factories, 10 per cent, of cheese production was labelled .second grade. This meant a big loss to the dairymen, the figures for Eastern Canada alone being 100,000 dollars a year. In order to improve cheese production, he was preparing, he announced, a new system of licensing cheesemakers.

LONDON MARKETS. (BY CABLE—PRESS ASSOCIATION—COPtRIOHT.) (AUSTRALIAN AND K.Z. CABLB ASSOCIATION.) '(Received March 7th, 5.5 p.m.) LONDON, March 6. Cotton—April 9.43 d per lb. Rubber—Para 25d per lb; Plantation, smoked 2Sd. Jute—March-April shipment £SO 2s €d per ton. Hemp—January-March shipment £39 per ton. Copra—February-March shipment £2B 17s 6d per ton. Linseed oil—£3o os per ton. Turpentine—63s 3d per cwt. FROZEN MEAT. (Received March 7th, 5.5 p.m.) LONDON, March 6. Frozen Mutton —Argentine, light 5Jd, medium 4£d. Frozen Lamb—New Zealand and other selectede, light lOgd, medium 101; North Islands, firsts 9|d; Australian firsts, Victorian 7Jd, others 61d; seconds, Victorian 7Jd, others 7d;. thirds, 7d. Frozen Beef—Prices are nominal. New Zealand, fores 2jd; Australian, crops 2J'J; chilled Argentine, fores 2Jd, hinds sid; Uruguay, fores ljd, hinds 4£d. Others are unchanged. WHEAT. CHICAGO, March 5. Wheat—May, new IGOJ cents; old, 1591 cents; July, .140 cents; September, 145 cents. (Received March 7th, 5.5 p.m.) NEW YORK, March 6. Chicago wheat quotations are:—May, ndw 159J, old 158J; July, 139J; September, 133J cents per bushel. (Received March 7th, 5.5 p.m.) LONDON, March .6. Wheat cargoes are quiet, and are tending to lower prices. Prices are in small request at from 6d to 9d decline. Liverpool futures are quoted; March, 10s 5Jd; May-July, 10s 6Jd per cental.

Buyera. Sellers. £ e. d- £ 8. d. \- 7.. GOVT. DEBENTURES41 per cent. Inscribed, 1938 •• •• 96 0 0 96 5 0 ib. per cent. Bonds, 96 5 1935 and 1939 96 0 0 0 5 per cent. Bonds, 1027 98 2 6 — oi per cent. Inscribed, 1927-41 95 15 0 _ per cent. Bonds, 99 12 1933 6 — OTHER DEBENTURES — Cliristchurcli Drainage, 91 10 51 per cent. 0 — N.Z." Breweries (10 per 1 6 0 cent. Inscribed) — N.Z. Breweries, (10 per cent. Bonds) 1 5 9 1 5 11 banks— 8 16 Adelaide •• 0 — 0 Aust. Bank of Comm. — 1 11 Australasia (cum div.) 14 6 6 14 9 0 Comm. of Australia 1 9 0 1 9 8 Comm. of Aust. (pref.) — 6 18 0 Comm. of Sydney — 25 7 6 National of Australasia (£10 paid) 17 14 0 — National of Australasia (£5 paid) 8 18 0 6 16 National of N.Z. 6 11 0 0 New South Wales •13 12 6 43 17 6 New Zealand .. 2 19 0 2 19 3 Royal (£i paid) 6 16 6 6 18 6 Union of Aust. 14 17 (i 14 18 6 Victoria (ord.) 8 1 6 8 2 6 Victoria (pref.) — 16 2 O Western Australian — 2 15 0 IX U If A N CE— National 3 18 0 3 18 6 New Zealand . • 1 17 9 1 IS 0 LOAN AND AGENCY— Dalgety and Co. 15 17 6 — Goldsbrough, Mort 2 . 7 0 '2 7 6 N.Z. Loan and Merc. (ord. stock) 93 10 0 — SHIPPING— Huddart-Parker (cum div.) 2 5 6 2 6 0 P. and 0.. Deferred Stcck 222 0 0 — FROZEN MEAT— N.Z. Refrig. (£1 paid) 0 18 fi 0 18 11 N.Z. Refrig. (103 paid) 0 8 9 0 9 0 WOOLLENS— Kaiapoi (17s paid) .. 0 10 0 0 10 b COAL1 11 Westport _ — 3 Stockton (pref.) — 0 2 6 GASAust. Gaslight — 7 4 0 Christchnrch 1 4 6 1 4 10 bkeweriesManning 2 1 3 2 2 4 New Zealand .. — 2 18 0 Staples 1 17 1 1 18 0 Ward — — 3 6 0 CEMENTS— Wilson's 1 18 . 1 16 9 0 TIMBER— Kauri •• 1 12 7 — Leyland O'Brien 2 1 9 — MISCELLANEOUS— 1 11 1 12 Beath and Co. 3 9 Burns, Philp 1 18 2 1 18 8 Electro. Zinu (pref.) .. 1 14 10 1 15 2 Glcnmore Brick and 0 Tile 1 5 -0 1 ' 8 Henry Jones Co-op. .. 2 5 3 2 G 0 Mason, Strutters (10a paid) .. 0 10 3 — N.Z. Drug. Ccr. (cum div.) — 3 S 0/ N.Z Farmers' Co-op. 1 19 {£5 paid). — 0 N.Z. Farmers' Co-op. (£3 paid) .. —' 0 7 0 N.Z. Earners'-' Co-op. (64 per dent. Stock, 1930) •• •• — 88 0 0 N.Z. Guarantee Corpn. 0 9 0 0 9 6 N.Z. Milk Products w 1 12 0 ■— N.Z. Paper Mills —' 1 1 6 N.Z. Sugar of Hi'.k 1 6 0 — MINING— Kawarau ■■ — 0 6 2 Mt. Lyell 1 5 3 1 5 8 "Waihi — 1 3 6 Grand Junction — 0 » 11 St. Bathans '.. 0 4 6 0 7 6 prem. prem.