WOOL IN 1909.

Dominion, Volume 3, Issue 740, 12 February 1910, Page 14

WOOL IN 1909.

A PEOSPBEOUS TEAS ALL , (From Our Special Oorreepondcnt) Bradford, December 31, . 1909. . There is every reason for satisfaction and congratulation as ono reviews the wool trade during - the past . year. Seldom' has 'there been a time altogether like .1909, for from first to last there was hardly a . check to the proflt-makinir experience which everyone'engaged in business knows' how to appreciate. Wool is an article' of commerce, which, jf it goes wrong, can : lead to trouble and lose, but if marketsare favourable , and prices steadily appreciate,. then - it. means real good to everyone engaged in the' industry. If the history of the "past thirty years counts for anything' in the trade, then there is one year in ten which stands out liko a mbuntain-'peak upon one monotonous plain level,, that,iyear being usually j a "nine." It is. far more; pleasant at I the end of twelve • months arduous toil to be able to - stand still and; reflect that conditions; have been alike!favourable both to tho' grower, buyer, *and manufacturer, and such .is the; case to-da-y. . Instead of ha\ing to,'chronicle 7 , a severe uetrback .in prices a3 was the ? case.last year, we have to record, steadily advancing values from last January, and with it the best of all conditions, namely, a developing.consumption and .improving trade generally. Here wc.thave the Alpha and Omega ; of : a' good wool trade. When last January dawned tho business world had to a very large extent recovered from the financial crisis of .1907 and 1908, tho wool-trade especially ha\ mg recovered perhaps; better than - the majority. ,of .other trades. ... At the very beginning--of January -'the trade found itself face, to face with very strong mar-' kets, and ■risinc values, that month Droving to.'be generiilly.a good one'for v all alike.', - •••

•V- HOW TOOL;FARED. Therratw t material all through the year lias occupied a very prominent' position; there being -at ,no< time in' the world's,-his-tory a season when ,it has received; 1 so much. attentionor-- exercised so much influencel: oh the markets of-'.the world; Both- spinners and manuafcturers have ;P£en in that , position that they could not anord to •: ignore -the., raw material, being forced continually '.to-•' come into the market to .buy. This has,, meant that both merinos and. croßsbredsV have done fairly well,, at. least:-medium and- fine-.Qualities of the mutton, breed.-, Merinos all. through the_ year have occupied the box' Seat, and it is- surprising. has really' been ac-'complished-.in, the -way of getting'rid of record. supplies, and : all the while at*ad-vancing'-.prices, ,'This;'fact ' especially 'is' significant. As a rule,-when supplies; are large, and " adequate, we see prices • somewhat- decline, but -.the .very "■ opposite ' has been seen, during 1909. 'Instead of there being any fall, raw wool itself, has; gradually appreciated, and -all: the 1 , time the large, offerings have been readily absorbed. It can-be truly said that the trade of the world-was never bofore sso . close on the sheep's back,and -it ,; is even • painful •to contemplate.'what'.wilt-'bo the results when I another, drought-visits'the Australian continent.'..'- • ■: - - i

the most attention has been" focussed upon merinos; line, ; soft.-fabrics being & long way the most . fashionable both for' men and' women's wear. - The year opened with values fairly, reasonable, but steadily ..theyappreciated" until •in September? there. .was*on aU/ ihands' -a 1 strong feeling' of in evidence, .because • they; were\then considered dangerous. The knowledge of what took place in that same month in 1307 was no doubt prompting this feeling, • and the high: prices then ruling certainly demanded a'erious .. consideration. ' However, morinos: steadily, appreciated, right up.-to the close, of, , the fifth series: of London sales, London selling brokers experiencing a very easy task to dispose of'the varied offerings -that came-to hand; Fine- cross-• brcds shared very similarly to merinos, •theso being ■ all. through the/ year , a very popular article. ... United States-. .influence,, for.'this quality dominated everything,-in-creasing.:, quantities-of.both .fine and medium ; crossbreds being, taken for American use.- '/Tpwafds. the Vmiddle'of-the year wools of '44's to '50'b quality sensibly, annre-, dated,; thanks' very* largely "to the' record'' takings, in London by United .States Coarse crosßbredß. ( hQwever, .have •harfJly . ' onjoyedv the... aame •mcd^um^a^d'»^iinejVßorts , ;./duoi• undoubtedly to; these'wb'ols^beihg 7 leßs: , supported I 'by}\the ■Homo • trade, :'at>.leasVivitheyrt^have; 'not;: gone: so';' freely/ ; intq^cbnsump^iohi',as^46'aVtbVs6 ? s worsted>'clothß,-; -'this •meariingv ; ftMargo.:a'nd 'growing\support; for, l merinbs;'r/.These'.can" never appreciate';-ari they did'.without; ,more 6r 'less influencing.' 'tho; next' .reßtdt :bein'2.'.that';so's; to '• 56's -V.haveV-likewise :. doneremarkably! well;";v^v:.'v during--ISO9Vto, lift' jeoord ..Ipjid '-yenwool'; ;hag Jnevdi*':''atr uck'."v~.lt VsMows ,consumptivej'capacity.bf;the>-w6rld\is :tre;| -liaveVsuch large' available* supplies •bwn': : ;deaH. : :withK in such', ah '.'easyVrway.:,' ; The'.'fact : is,V.at./no r :tim<j has v there; been''any-'-, felt,' that''avail;' able,; quantities would ,break -the; market; and; 'the 'year. <finishes; ;:iwith.'/' practically. clean?swept.' 'bdardsiT'.r.ahd'.^ At' tho iinoment' the trqde' is 'Waiting tor .the - January • Loh-' doiv .gales,,in ,tho<,hopo of 'soeingvoffered ' : a/ fair/ woight- pf':;riew'r clip '''crossbred wools; from ( Newi' Zealand.*. "{<?! UM. '.^V/ : r * :-,.Th'ei following cburse/fof; •the beginning;of ; .th<vyear,' .andwhat;Vere : 'thc. : 'pric*e3r'r^ing.;;atnhc^la3t:.;eeriesi ; of. '•.London; i sales f 'v' 'V ' ; .'fe - r :'" ; 'VV Jari/;4-.W!l);ec.::; j ■ i'.'.i ■• * ;: Av ! age.'Av'age.' • < ~ Per lb.": l . Per lb." f ' :Greasy Merino. ;• ~-;d. d; Yic.r' t Western, good quality,',. , Ov - • v1ight';...J.....,;;.'.;..-..;; -15.15 i;; ; ,>1748 { NlSiVT.vßivorinar'- good '* ; . • > ■"> • r' :a;staple•and; : condition'l3-13$ , . ,:14-15" N.S.WV: N.-'England, fine, •. 7•?, ' 0 bluish 13-I3i "; 14-15. Queensland: •. Central, good ; . •. v ;Y 13-14 *' ; Anoffn.ltn>.- . r'KfiMlnnHn 1 • /•- < 7

;S.iV.: ■; ; foir;l6ngth 10-101 ■ '111-12! Ni'.Zealand:; .FinoVfluality.-ftV-1;' : condition; .u. <10-10}'; V illl-12 ' ,S.'-'.-African :;-V";Kaffrarian.V>:; lighf. ■.!lone 91-10'-j '101-11. S.': v . African KafEi;ariari,; light, short 71-71 r,'v-.71-8 ; •Ah Scoured; Merino. 1 ?/;.'; ;>,?.», ;Tic.:: ;Fair <body ■' andfcoloiir t22-23 1 - ; -r-r:,23i-2'tS Queensland: Fine; -good '- Vr . colour andcondition:......2i-211'\'' 231-241 3N'.S."WV:.| Fairv ' Colour, ' .- -V ;v ."'rather'.'fatty'l7-171 ' 20-201 N:'..Zealand:;."FairV''body nv' 1 "' ~ r;and'i;coteur-: : 20-201 " 211-221 OttDo:':;Kaffrarian„. -short,--light■' u:.....;... v.;....:....,,..... 15-151. ■ 18J-191 I Merino wool in average has risen about '20;. per' cent, during the year, and from: 30 to 45. per cent. ■ for crossbred descriptions compared with 1908.. The 'direct takings of the; trade: also show very, material increases, especially-.the Continent, the year finishing so far. as' the colonial 'trade is concerned with everything in 'a*.very sound,'; healthy, slnd-..satisfactory .- condi-Next.'-to/:wool; itself '■ comes ; .-the/'combed article, ; i.e.'.V tops, ■ these' jalways.' playing the -'most' important .part the course ,of-the;raw -material:. 'Here, also, o'verythingrhas,.indicated; - progress' and -prosperity,';!--? ''business continuing . rirfit through to be' good. . Prom January to September !: thore - was' - a constantly -ex-'-panding, call, .with. set-backs of no. more than. Id. per. lb.;- One never finds in a year .'of 'with a ' steadily expanding' consumption that values decline much.'.and-it-was 'not until October' that the first real check took place. In; the middle of > October, just about when a new season was ' opening in Australia, Continental "futures", were slumped on purpose to affect selling centres in the colonies, the object being to obtain cheaper wool. The result was that the price of merino tons ■. declined* 2d., perlb.;. which after- all is an important item in determining profit or loss.. This.iri'no sonse affected consumption,,spinners and manufacturers' all through the year remaining exceedingly bußy. Since the fall in October, prices have gradually hardened' until the year is finishing with particularly •buoyant' markets,-"even coarse '.crossbred tops having lately sensibly improved their poeition. Tho, following table shows the course of. top values in January, and at the ,end of each succeeding quarter:—' l .' !■•'.■ ' : ' Jan.Mar.June.Sep.Dec. ■! d. d. d. d. d. BO's,-..colonial tops... 29 31 ;■>.3l .311 30 JO'S „ ~- „ ... 25 28 23 29 ggj ... -27 271 261 27j ,» u Pcr " 235 26 .-. 263 /28 26} 60's B. Ayres tops'' 2%. 25 1 ; '261 *27 26 '58's colonial tops.... 22 : 24 *25" 26 25J 56's .„. ... 182 21 22 23} 23 •S, 8 -. ' - 161 18 183 20 201 JS, 8 .» '• ■' .. •••' 131 133 .141-15}, 16} 52, 8 •• ■ "I '- 121 12 '' I 3* I^l j 6 , 8 .. .. 109 111 12 121 . 131 2V ~ ... 10} ,11 ill, ill $