YORKSHIRE LETTER.

Dominion, Volume 4, Issue 1144, 3 June 1911, Page 13

YORKSHIRE LETTER.

_v PRICES STILL FULLY MAINTAINED. (From Our Special Correspondent.) Bradford, April 21, 1911. The week has )>eeu somewhat interfered with by holidays, hut for all that there is still sustained interest in tho raw material, and on all hands activity dominates tho situation. Somo mills have only stood for one day, though others have seen fit to allow tho machinery to stand Monday and Tuesday. Many havo begrudged workpeople a single hour holiday, simply because they arc under Rreat pressure to make deliveries. However, it does good to both num. beast and machinery to rest and cool, hence there has only been one market in Bradford. Everybody seemed to come back last Thursday ready for tho fray, and although to some extent there was a holiday feeling abroad, yet prices wero as firm as ever. Somo considerable timo has elapsed since topmakors presented such a solid front as they do to-day. Evidently they havo had a lesson, and learnt it thoroughly. There is being delivered, and will bo for the next month, soriio fair big quantities of 61's tops at 25Jd.J in fact, several spinners who had tho courago to buy when values woro low frankly etatc that it will be next July and August before they will be taking in tops to cost them any more than (he figures named. Others are not so favourably situated. However, 1 should say that tho biggest weight of business done during tho past month has l>ccn on a basis of !!Gd. to 201-d. for Gl's tops, though in all fairness it must bo said that at 263 d. and 27d. somo big quantities have been sold, which have to bo delivered between July and September. 'The business done has undoubtedly been accomplished under tho impression that there is going to be no cheapor wool this year. Everybody seems to be imbued with that opinion, and although wo are now only a good fortnight in front of the May sales, yet not tho least dismay is felt about the trade being able to lift the weight of wool that will then be available. CAPE TOPS IN GOOD DEMAND. The position of Cape tops is both interesting and instructive. It is •really surprising tho different attitude which the trade is at present displaying-in regard to these. 1 could name a few Bradford spinners who up to twelve, months ago would not touch the Cape article with a long stick, but somehow their spinning qualities have recently been discovered, and several new firms have taken to handling them. I do not think it would bo possiblo in Bradford for any man to secure an essentially Botany yam spun entirely from a Capo top, unless specialty ordered, Capo lops being almost entirely used for blending with Australian top?. As is well known, South African wool 'is very fine in tho fibre, and it seems to fill up as it were the bottom of a coating somewhat better than a yarn spun entirely from Australian wool. Wo all know that Cnpo wool comes a very good colour, and for blending purposes it is very good indeed. I hear that there is to-day very little wool at any selling centre in South Africa, and it will be next October before any weight of twelve months' grown staple is available. _ Of course, those farmers who shear twice a year will now bo busily engaged in shearing what has been grown during the late summer, but this is poor stuff for producing a good long top. What topnmkors want to-day is wool of good length, the short six months' parcels lieing only fit for clothing purposes.. Flannel manufacturers buy some foiv weights of these short wools, but somehow they find very little favour with Bradford topmalccrs, and this notwithstanding that machinery is better able" to-day to njnnipulate shortgrown stapled wools than ever. I havo often thought it is a thousand pities that South African pastoralists shear merino sheep twice a year, and I am certain that nature never intended they should be handled in this way, twelve months being little enough timo in which te give sheep a chancoto turn off' a decent'fleece. However, tho..importation of about 25.(100 Australian; stud,, sheep..- is undoubtedly, telling'for' good among South African' flocks, and I nm certain that given decent seasons, wo aro going to have a mora reliable supply from South Africa than wo have had in days gone by.

MERINOS EXCEEDINGLY STRONG.

• There is not a grout deal of change to report in connection with merinos, tonraakers especially being firm in their attitude, all alike demanding 2"Jd. f6r a standard fii's top. At this price they can just about get out with a fraction profit on their last London sales' purchases. If the truth was told, there is very little if any surplus stock of unsold wool or tops, and I fully expect to see at the next series of London sales quite as keen a Cjht for merinos as was witnessed in March, fho fact is, there is to-day universal confidence in the stability of prices, and this notwithstanding that there are oiio or two weak places in fho market. My reports from Germany ,iro anything but good, and it is well-known that there are certain big firms in Bradford, and particularly Huddersfield coating manufacturers, who would welcomo • n incoming of some good orders. Still, ihero is no mistaking the attitude of tho trade at tho moment. Of course, wo havo had a month of pronounced activity, and everybody has sold both wool, tops, and yarns. There is to-day not a cloud upon the horizon, and if Australia was in the throes of a drought, we should havo conditions exactly the same r.s obtained from September to December in 1899. Notwithstanding that tho trade has not forgotten tho experience of that year, and tho slump which followed in '1909, still, all tho talk is of higher prices. Conditions to-day are certainly very healthy, but several are calling ""halt." 'These aro the peoplo who vemember the past, and who are striving for a continuance of tho present good . .trade. Everybody knows that when values get beyond a 'certain Toint, .that is, when wool gets too dear to bo manipulated to advantage, that is tho signal for substitution, and after the Japaneso orders have been executed, it is just jossiblc for machinery to experience a, slowing down. However, the market is lively, prices are strong, and in face of all there continues a very keen demand for both tops and yarns, everything being t-ont out as fast as it, comes off tho machines, CROSSBREDS VERY FIRM.. Not a great deal new can ho chronicled in, regard to crossbreds. Topmakers aro naturally all very busy carrying out their contracts, and here, too, most people havo had some fair good sales. When I tell readers that yarn-spinners have actually booked sufficient orders to see- 'them to tho end of the year, and tomo '.'veil up to next January and February, providing they can command "particulars," it shows conclusively that there .Must have been a little speculative buying. Of course, the Continent seems at present in a buying mood, and with 11 ore machinery having been put down both in Germany and Russia, more tops and yards will naturally lie required. At tho same time, some very good business has been done on homo account, Leicester and Scotland are at present absorbing some big weights r.f crossbred yarns all for hosiery purposes. No doubt somo largo quantities of what are known as knit goods aro being shipped abroad, and tho various kinds jf fabrics aro absorbing crossbreds all tho way from . ii's to 56s'. I do not think that a big weight of 40's tops aro being absorbed in the Leicester trade, but all the same it matters little where tho yarns go so long as they aro consumed. There is no great quantity of 50's to sC's tops on the market, anil I am certain that tho cheapest article in tho crossbred category are medium qualities, there being no comparison in tho prico of 40's at HJd., 40's at IGJd., 50's at 19d„ and sC's at 22d. It is rather interesting to know that tho rise sinco February has been a full penny on fino.crossbred tops and l\d. on lower sorts. One wonders what those topmakers will fcol like who have to deliver big quantities of 40's at 12jd. If they did not coyer same with cheap B.A. crossbred wool when it was available at IOJd. and lid. c.i.f. Liverpool, then they will ho feeling sick. There is less trade doing this week than last, and I should not be surprised to see somo slack markets for a few weeks to come. All tho samo topmakers have enough on to meet all the demands which aro being mado upon them. Conditions generally are exceedingly healthy, machinery is fully employed, and taking all things into consideration the outlook for trade is very good. Noils also aro soiling better, and this is giving a little financial assistance to tonmakers, .