OUR YORKSHIRE LETTER.

Dominion, Volume 2, Issue 529, 9 June 1909, Page 4

OUR YORKSHIRE LETTER.

; OUTLOOK FOR THE COMING SALES. (FBOH ODB SPECIAL, CORHKSroNDENT.) Bradford, April 30, 1909. Next Tuesday the third series ol colonial Wool' sales begin, and already the eyes of the entire world aro focussod upon Coleman Street, there being as much interest' as over manifest in the proba-blo course of events* The movement of wool and tops during the vacation in consuming centres, both at home and abroad, leads on© to expect another rise, and there is no disguising tho fact' that the trado is still in a good humour for buying the raw material, olowly, but surely, wool- pricfs.hare risen sine# the May sales, 1908, and it appears that we are j It must bs admitted that tho experience is a far more, pleasant and profitable one when values are ris? ing than when prices slump, and tho course of events since this rear dawned has helped con- | siderably to dispel the gloom and despondency J 7 i c r through tnb heavy losses which i had to be accounted for as tho direct result of slump of last year. If the experience of 1603 counts for anything, it shows that 40* tops at Bd. and super iSO'a at l}d. are always a good investment, and if the trade learns well the lesson of last year it will help to compensate not t little for the heavy losses \*hich befell practically everybody dealing with tho raw material, we do not think we can do better than show how values have steadily risen pne© the bottom was touched, and the following tablo shows tho great change that has come 6ver prices for leading descriptions of both merino and orossbred tops:—

It may be interesting and useful to remind readers that the boom year of 19U7, when the unanimous opinion was oxpre6sed that I prices got to a "dangerous" level, super 60's i tops the last week in April were quoted at 2#id., or only a penny above to-day's quotation, ' X»j rea ® 40'$ t°P 5 ' weto standing at 17d. to a far different price to what they are today. Many of th© shrewdest operators strongly hold tho opinion that 40*9 must eo up or 60's com© down, but we must say that, notwithstanding such high quotations for merinos, we oannot at the moment seomuch chance of a fall, and any change should find coarse crossbreds. appreciating.. ' The question of -supplies is perhaps at the moment the one feature of the market whioh is receiving j most attention, and we referred to this important subject a fortnight ago. Like may more we must admit that Messrs* Dalgety'slast cable, giving the v oxiortSffrom Aus* tralasia up to the end of last-'.inonth, was a little startling, and it deserved) ierious consid* ©ration. In analysing the figures we franldy admit that we think we rather overestimated the quantity of wool that is likely to bo available between now and the advent,of the next Australian clip. It will be rbmembcred that Messrs. Dalgety stated that, for the first ninr' months of . the current year the exports from Australasia amounted to 2,055,000 bales, or an •increase of *59,000 bales. Such a statement, of figures exceeded considerably the most sanguine expectations, arid they point conclusively to the fact that without reckoning the old clip earned over last June 80; ther* is going to bo a sensible increase even in the current year's clip. We then stated that if we took the total deliveries, whioh had been made to the trade up to the end of the last March series—l,3lo.ooo bales—from Messrs. Dalgety's figures, 2,005,000 bales, that apart from succeeding shipment during the three remaining, months of the current year there yet remained 785,000 bales to come forward into the hands of the trade bv way of direct imports and London sales. Oh the surface that is correct, but seeing that m Dalgety's figures went back' and inoluded the shipments from last' July 1, it only. fair to put against them tho -total deliveries to the trade,', say; from last September London sales, and ,if we do that a different !s .P ut "ton matters. Wo thint tho following is a fair and honest representation of the case, and shows that thore is les« wool likely to be available in the middle of'the rear than, what a surface elance at Messrs last figures would, lead one to'thinl: Pno,foll<iwitifir'seems-'to. n« to represent concisely■.■the ■statistical'' .standinsf of th« wool sitnxtion, and throw considerable light upon the. record shipments of wool from Australasia tip to.the end of last' March 31.— I

Doliverias to the trade from 'Bales July to end of Septembor. sories ... 2PI oon hnd of November series • ... ... 289,000 End of January and March series ... 1,310,0C0

,~W deliveries. ... . ... ... 1,839, Opn ! Add gross arrivals for May series ... 377 sw ! . c 2,216.511-' T .^' , \'^ ov * ™ ors 'han aeSoniits"for Mews Baleety's; Australasian .wool exports, but j( shoaldnot be foreotten' that there is included deliveries to tho trade of Sooth African'wools the arrivals of winch since last July tetie« "J no ys' to 255,492 bales, consequently these should really come off the above Australian ngures. Potting, one over against the other it points broadly to the fact that fh» available quantities of wool for succeeding series are gung to be. very .much smaller than we though! they me, and for tho July and Septembn series the offerings will be comparatively small . Of course, if the wool is not available. for London sales, it is somotrhere, and nndotibtedlv it has gone'forward into tho hands of consumers. This raisos the" question of how such small prospective supplies aro likely to affect values, ajid wo can only say that whotber the wool is at present in consumers' hands or otherwise, values for merinos aro jrettin» where reasonable caution is advisable. Trade' no doubt, is good, particularly in the worsted industry. At the same time,' even grower*' interests will be best served bv a-steady market at, good prices, for nothing tipsets trad* so much as these periodio booms and slumps.* Above all, we don't want to see a repetition of the fiasco of 1907-8, for fine wool is getting well-above .its real market value. Prospects point to an all-round 5 per cent, advance next week, which is quite .plenty. .

A FURTHER UPWARD TENDENCY. Wool continues to move with conspicuous freedom, there-is no cessation of business, and, since our lost report, a buoyant tone has characterised each'market with a further upward tendency in .values. Everything on the surfaco wears " a distinctly heftlthy abearance, and the tenfper of the market since tho recovery last summer has never been better'than it is to-day. On all hands there !b a manifest Confidence in tho future of wool values,, and tho trade doing is considerable in all depart{gents. Perhaps the most significant featuro of the weeks business is the recovery in coarse crossbreds, and distinctly more life and activlty is manifest in them. A' decided better feeling is being exercised towards coarse quailties, and a fair big business has been done in 10 s tops. . One cannot resist saying that a little speculation has been indulged in. undoubtedly due to spinners being convinced that ?. further upward movement in values is practically certain next week in London, and fearmg the market going against them has induced many to buy m anticipation of their needs. It now looks « if the sales ih Coleman Street will open with an all-round advance of 5 per cent., though some seem to think that the improvement in merinos will bo a little more marked. Priws in Bradford for dO's are now firmly established at 12Jd., though the bulk of last weeks business was done at a farthing lew. Even thdt only brings up Bradford prices to a level with the close of last London series for low crossbreds, and if there is a fnrther advance, it will carry values ahead of those ruling in Worstedopolis. However, there is a very optimistic note sounded, and, a« far vi n," s i 4 JUv 1 1 detotißtl for the raw mntorlal at tho forthcoming series will be of a very satisfactory character indeed. Consumpsteadl!y dowloping even in ceftrse and medium crossbreds, and there is no doubt that on export account more satisfactory indents have lately come to hand. . Memos ocoapy the same satisfactory posi[tion as has been chronicled .during the rast few months, and fine tonmakers are very ?n dependent. There is still in evidence ft good S'fivou^nfV 0 top9 ' A nd «"<>» u e M^erß « - Commission W ooK .combers are as busy as ever, anil spinners nro been ' n^. t , f , (! f OMfol po e itl o n. Mohair has l2r* ~ t more but mostly in inThi ® % P r ', ce business is to bo done. The trouble in Constantinople is not expected to interfere with the new clip.

' — — ' THE DOMINION; WEDNESDAY i/. • . • :■ . poses «js tho. working' man's friend/ | NOTES ON EDUCATION. | OUR YORKSHIRE LETTER — 9 which ;s re% working hand-in-filoTO'with — — i A SPLIT IN THP aCjannaTinur ™o bakers, t . It. keeps, tho price nominally (By Sochates.) ~ * l fl ,N THE .ASSOCIATIOKi high, amballows:h<»vy ; trade discounts- by . OTJTIODK TOT?' TOT mnnr s'itm / - L - " J "" 5 hre ®toning«lwkers tho 'prico of ' PE tone'hiph qrnnn. • iw COMING SALES. , to m n «TWr? ' ' ' r ' an(1 cause'them to PET0NE HIGHSCHOOL,.; opsspecial cobbkjpondbM.) . x»iunu. ' price «f bread to tho public It continues to Last Thursday the philosophic dalm"which ' Bradford Am-il 10 1909 (bt TSHGBArn-sPBcui coebkpondent) do business, but aerate? nhich are really on ordkarily characterises the atmosphereof the' Next Tuesday the third series of colonln t .Cfirfstohurch, Juno 8 Tlw«*»!«« fet'iu Education Board .Room when its members Wool-sides begin, and already the eyes of th Tho' Timaru representative of the Christ- visit of Australians to buy up our surnlus S \ •'u coulloil was ruffled - by an incident entire worllJ aro foeusscd upon Coleman Streel 1 church --"Press" •■tru. yesterday- informed, on 1 wheat was unlikely which arose out of a somewhat peculiar posi- 'here being as much interest' as ever manifea . ■-••- reliable authority,' --{hat,lit '-the 'present- time' •' : ====== tion-nrJiioh -exists with regard to the require- i» the probable eottne of events. The more , the life of tho FlonrmilldiB' Association is , " T Cnt3 of secondary education in Petono. A 'T'l 0 " 'i jnst banging m tho balanco, and' that it* » "* SCHOOL ESSAYS, ' ' °wS bor8 ° f A P( rf°f 0 lead ?. ono Mother rise, 4#™! would favko very little now to cause tho as- r . S Wi ?° dlsgn j tbo £ act ', tbat the trade is 6til sociation to mmr in bn' wbiln An rt* tk ' ? • "{Jp claims of Potone to a high school, in a goocl humour for buying the raw material t-nJ T i x : TNnTTWPTT'Ci ' - within tho district. Tho deputation Slowly, butsurely, wool.price*,have risen sine hand, it will tako a ; long . and a Strong pull, INDUSTRIES WEEK COMPETITION. did not adduce anything of material impor- the a r Bales, 1908, and it appears that we ari - and a lot. of tact, :to patoh things up and tanco to the question which was not already n ®' Jgt at the top of the ascent. It must b '■& • -W-tiie-assoraalion-goKK-Smli; In the mean THE KE8TJLTS. within tho knowledge of the board, and fol- ™ mlt »d that tho experience is a far mon iiiipsgffe WMBMB reason of any compulsion from tho Millers' with Industries Week "uere ( announced -at »"ontion to such correspondence as emanated which arose through tli heavy Iosstt whicJ ■-V '■ v - -■^ s^ )01[l - tlo n, as thia body.is now; in the posi- t,le monthly meeting of tho association -Jait fro™ tho committee (the inference being that had to be accounted for as the direct result o tion'pf being without;-'that :for which it was In u the wmso_of his report; on the the board regularly accepted th© committee's the slump of last year. If the experience o 'SS^h^^t, l ';»' ,^.-^n ,,8, ?j 4s Weskn dfe., .ooiscKpondoiee as ,"r«ceiv«l"), tho latter part JM8 counts for anything, it shows that ffl'i vy-; ; .y<"-:i' r -"'sar 'at' • « owt «ry.OIr. ; .IL- P. Allen) ob: of tho proceedings,- according to the report tops at 8d. and super &» at Hd. are alwaji - time by-tho ' which;appeared in Tub DomTnion next uay, investment, and if the trad, learns will i . . assocaatiion, atld not to produce moro than a .•:••• wntmg by-school'children is an- Was marked by somo displar of feoline lesson of last year it will help to com- ■ »p&!epMr^r9t W» . Asreomant MM In OMMMt BUt^B^lSSSiarflS ■'r-i is that some mil-j very, attentive. _ The writers hare. S 3a^ d '. upo ? becoming acguaintod since the bottom was touched, and the follow* V ; ! eTS „ 3a y that; at tho r meeting recently held '■ fact: that- it is interests; of all in xt, * < e . s . S1^ legal advice upon ing tablo shows the great change that has come in Chnstohuroh, they: wero asked and con-'- Dominion, that N«,w Zealand manufactures H 10 ' "sues - raised by . the request. I'ha Aver prices for leading descriptions of both 6ented .to'. sign an-agrOoiiient to continue ■™ 0 ?'d.be supported. ; The following'train, of AeM?® Committee, .which' was sup- merino and orossbred topsp::.nndCT;'the i old;conditions for;another three- '"Smw^'throngh;manv of the-essays :-r' .with a copy of the legal opinion AVERAGE QlfOTATTOlK tor TDPq ;. • :. . months, while,at least one- who w-as ifc ; 'tHn land mado. goods should be pur- referred to, dissented from the con- yuUiAJ.IO.NS FOR TOPS. .' : .mcoting;declaros that'such'a pfoposition-was^" h<SL e i?' are D0 .better made, elusions arrived at by the board's solicitors, • m ' a - M'si SO's. <0*s. never put to tho moetingT nor wasit agreed m 6 ® 1 " • n,anr of our - an d hazarded the opinion that the board was „ ' „ d - ' <•. d., d. .!:v,'np«il-vS<Hne- - k - a ' 80 hr M 1 <»» Bee,:.neith« ' fe f~ » }\ « 'an-agreement, and- money".for,them has.to be sent' away°°and we' "'T TOnM .™ cd -tho board Jnly ~~~~ ..g 1 g } . }} 'v j!? v ? : 1 whilovat-.leaSt onoimiUer .Baya are helping to keep Other people instead of our I" omto grasped the position, August 24J 224 151 104 . i ; vV'... '*bat he .ivas never asked.:to sign, 'even 'own.',-,-pae'-young author boldlv asserts- 'l am ri? ' - a ! apprehend it, is this September ... 24A 22 15 10 ■•:.'..:;»nown ; a' copy.of the. proposed, agreement. • a J°ung New Zealander," and I intend'. to-buy : J-™ interests' of secondary education in the Ootober 24 22 144 10 »•.•*. - New-Zealahd-'made goods, and I hope all other Hutt Valley.sie atjpreeent served by-two dis- November ... 25 - 23 lfl 11} Six Mills Reject ■the Agrecmsnt. Aew Zealanders will do the same.' If this spirit met high schools, one. at the Main December 25J 23 15} 11| ' There am at lwwt «v mill. ». rt n •• droits it ; will knock the apathy out of some Hutt School,-and the other, not three miles January 25| 1 234 16} 12 ?°f uluoa ' ■'; J . , at Petone School. District high schools february 28 , 23| 1GJ 12, ' 7 ; tinue'far a 6m C ' )n "' n / Z ®i. '-' s » a ®- ° ws:—^reno ®'® TWr, Bht, areidesigned, fundamentaUy speaking; to af- - — 27 25 17 124 4 f 0r gerrace,, (fiokp-maiing); Mabel Hume.- Island fOrd, as far ■ as possible, the adjantiges o{ AprU • M W 4