OUR YORKSHIRE LETTER.

Dominion, Volume 1, Issue 264, 31 July 1908, Page 10

OUR YORKSHIRE LETTER.

. CHANGED CHARACTER OF WOOL' SUPPLIES. , THE TREND OF THE MARKETS. (FROM OUR SPECIAL CORRESPONDENT.) Bradford, June 19, 190 S. A close student or observer of tlio textilo supplies which aro at present available for manufacturers cannot fail but observe their changed character, and there is no department where tho alteration in the descriptions available is so pronounced as in wool itself. Since tho writer began first to go to London sales a vast change has taken place, while his predecessor, who began going to Coleman Street in 1872, remembers clearly tho time when tho wool availablo consisted entirely of morino. In those days fine wools dominated everything, and hardly a suit .was seen made from crossbrcds. Tho only long wools as thoy wero then known consisted of our own English clip, and these wero practically combed in Bradford, and spun into lustrous yarns, to be almost entirely used in the manufacturing of ladies' 'dress goods. One can seo ■ that the supply of coarse wools was so limited that thoy could bo' easily dealt with, whereas to-day tho quantities available offer a problem to anyone who cares to think for a moment where the present huge supplies find their way. Unquestionably tho world's needs have expanded almost fifty-fold since tho days when merinos "bossed tho show," and there is little prospect of supplies over getting beyond the consumptive requirements of the world. Wero Australia to bo visited by another fow years of drought, and supplies to fall off again as they did a few years back, then prices could not fail to rise, and now that wool is cheap it cannot, to thoso who have tho power, provo anything but a right counsel to buy if thoy have tho patienco to hold till markets again mount upward. It is no uncommon thing to hear an "oldhand" in the trade speak of the vast change which has-come over wool markets in regard to tho many different qualities which aro now available, and which were altogether unknown twenty-live years ago. This is entirely due to tho extensive cross-breeding which has been indulged in, first by New Zealand pas.toralists, and more rocently by tho estaucia holders of the River Plate. Tho producing of tho "freezer," With, its corresponding crossbred floece, has long ago passed' tho experimental stage, and the trade now is supplied with a rich and varied character of crossbred wool which is capable of making a varioty of fabrics .'which wero not dreamt of a quarter of a century ago. In this connection ' Schwartzes' figures, giving their estimate of tho production of morino. and crossbrcd wool during recont years, aro well worth studying, as snowing tho changed character of wool supplies:— Estimated. Crossbred. Total. Merino. Crossb'd. Per cent. . 1595 .. ... 580 ■ 396 181 31.7 . 189 D ... 581 ' 315 • 266 45.8 " ' 1900 ... 503 248 255 50.7 1901 ... 593 308 : 285 48.1 '■ 1902 ... 556 304 .282 48.1 1903 ... 556 ' 268 288 - 51.8 : 1901 „ , 506 ■ 211 262 51.8 .1905 m. 553 281 -272 49.2 ■ - " 1908 „. 596 . 317 279 46.8 1907 ... 616 355. 291. 45.0 Thus high-water mark in the production of crossbrcd wool was .reached in 1903 and 1904. Tho figures relate to tho imports of colonial and River Plato wool into European and American markets in million pounds of clean wool, and it is very significant that although thero has been a shrinkage of about G per cont. in tho proportion of crossbrods produced, still 1 tho actual aggregate supply roached tho maximum last yoar. This is very significant, showing, as it docs, that iii reality tliero has boon no falling oft' whatever in tho weight ot wool produced for the manufacturers of tho .world. It is also worthy of notico that although tho.supply of merinos was less than in 1895,. yet whon both descriptions'wero put .together, the supply last year ■ was a record. The world's supply of merinos and crossbreds, according' to Schwartzes',.was no less than the "enormous'total of 2,868,000 bales, including an Australian . .supply' of 2,103,000 bales," which beats'all previous records.

Tho inforcnco to bo drawn from tho above is that manufacturers wero never in- sucli a> position- for making a. variety of fabrics as thoy are to : day, and bo it said to their credit there: is no single quality of wool from 28's to 100's but what is being turned to the best practical purpose. For an outsidor to bo privileged to glance through a rango of patterns such lis arc sent out oy, say, a Bradford shipping house,, would be a perfect eye-opener, for ho would find "verything incfuded that was mado from tho coarsest crossbred to tho linost merino. Perhaps \ho would find 1 tho most entertaining productions in the wide range of fabrics which aro made from medium and line crossbreds,.-while those produced from, oven ,coarso 40's crossbreds would be a revelation. In men's wear goods tlioro aro "cheviot" tweeds which aro mado from wool that lias never been. near, tho border district, of Scotland, crossbred serg'os which are got up to imitate merinos,>'■ while . the; soft : handling fabrics mado from ,pure fine wools.aro delightful to the touch and most attractive to the eye. '

It would be a lingo mistake on tho part of anyone to advise any section ..of -woolgrowers in any part of the world to, depart from producing, that class of sheep which suits their; purposo tlio best, every,grade and quality, being suited for some purpose: providing it is well grown and satisfactory. The world wants plenty;of wool, but it must bo good; and that seems to be tho ■ goal bofore every woolgroweiv Lot every slieepbrcedor guard . against • producing mongrel fleeces, or a-stylo ol' raw material that has neither character nor quality , to recommend it to manufacturers. There will always, bo times when Dame, Fashion will play.' an important part 1 in determining the price of wool, for tho. fickleness of women in particular,: in., their .methods and style of dress cannot be followed, with : safety by sheepbreeders. Still, if merinos are up.to-day and crossbreds down at a little. price, . nobody knows but what in two years' time the tablos may be reversed. Henco what the sheepbreeder has to do is to keep a class of animals which will grow, a splendid.. fleece of wool, and the grower can rest assured that that ■ will sell, and always command a full market price. HARKING TIME. Conditions in Bradford show very littlo change when compared with what obtained before tho holidays, business in no senso being- large. It is not right, to say that tlicro is nothing doing, for'most people are selling small quantities of oithor ono quality or another. At the same time there seems to be no disposition to engage in business on a large scalo, most users buying small quantities and often. During tho past week considerable inquiry lias been mot with, and, there is a willingness to oporato if holders would shade prices. Those who wero fortunate in buying 40's tops at Bd. have sold pretty, freely at UJd., these being satisfied to realise their proiit. This has not had a beneficial effect upon topmakers of coarse crossbreds, but tho opposite; but where topmakers are asked to quote, many aro willing sellers at 10d.,,That really is tho actual market price of that quality of topi although several aro still asking lOld. • Consumption, docs not. expand in coarso crossbreds, and that is tho in 3G's to 46's quality. There is nothing yet to inspire holdors. with tho belief that a radical. change for tlio better is imminent, and wo aro likely to seo quiet, dragging markets for sonic. timo to come. Tho fact of crossbreds rising at all is an important item which has "upset the applecart" of perhaps the majority, and those who anticipated having things all their own way last series in London have got rather a fright, so much so that they aro not. disposed to venture again on such thin ice as to sell forward at ridiculous prices. It looks as. if 40's at Bd. have gone by for somo timo to conic, notwithstanding the prospects of a bountiful supply of crossbreds. ■ •

11l merinos there is great, stoadiness, and less disposition to shade prices. During the. past week some nico weights of G-l's and 70's lops have been taken for export to Japan, mostly dry combed, and spinners are willing, buyers if they can get in at a reasonable prico. A good super 60's top is generally quoted at 21Jd.,' and 6-i's a penny moro, but, London did not produce wool to bring in tops at anything like that figure. Still, that is tho prico to' day,: and nobody rofuses business if they can command ,tho figures quoted. Yarn spinners say that "particulars" come in very slowly. Mohair has been lately more active, and further speculative purchases have beon made at the sources of supply.