YORKSHIRE LETTER.

Dominion, Volume 4, Issue 1242, 26 September 1911, Page 3

YORKSHIRE LETTER.

EVIDENCES OF DECLINING TUADK. (Fiom Our Special Cor.'est.oudcnU Bradford, August 11, 1911. It is not often that figures appeal io the average reader,.but 1 have long .scon the weakness of paying scant attention lo statistics relating to the wool and textile industries. If tlir.ro is one trade when' fi"iires tell a talc and point u moral it is hEV and the Bμrd of Trade lelurns published last Weducsdajvare worth 11101 :• than passing attention. Just- as the thermometer indicates the temperature oi the dav, and tho barometer the probable, coiir-o of the weather, fo t'no monthly statistics showing tho trade and commcrco of Great Britain throw a lurid ligiit upon tho wool and textile industries. Thn outstanding feature of the latest figures is the evidence that tho boom is over, at least that is the only natural conclusion that can bo arrived at after studying the figures relating to our export trade in semi and fully manufactured articles. Last Wednesday morning the head-lines of one of Yorkshire's leading papers were a little startling, and run thus: •'Collapse in exports during July," while the Bradford morning paper put the situation in milder language, its announcement being "Exports falling off." TRADE EETUEXS ANALYSED. I am not so much concerned to-day about the quantities of wool imported into Great Britain during tho seven months of the current year as the figures relating to our overseas trade. At the same tiroo supplies are important, for out of tho raw material coming to hand tops are combed, yarns spun, and pieces made which are sent to the various markets of the world. The imports of sheep and lambs' wool for the seven months are returned at 555.913,1231b., of which quantity 205,208,4571b. were re-exported, leaving for homo consumption 350,7u-l,6G(ilb. The moit surprising thing is ihat there is a decrease in our imports for tho first seven months amounting to 284,0621b., compared with tho corresponding period a year ago, but the quantity retained is greater by 31,161,11411). Just as giving the reader a general idea of the countries supplying Great Britain with colonial and foreign wool, I give below a list of imports tor the first seven months of the year compared with tho same period for tho last two years:— SHEEP OR LAMBS' WOOL. 1900. 1910. 1911. From ■ Lb. Lb. Lb. Russia .... 1,374,928 3,091,309 550.912 Belgium ... 4,111,571. 3,717,201 1,853,9G0 France ... 14,833,232 19,341,061 15,847,835 Turkey ... 4.011.2G1 3,742,596 5,824,181 Uruguay v. 3,862,711 2,393,974 3,284,153 Argentino 'Republic 36,307,059 21,717,413 40,742,8.5 S. America (AV.C.)... 21,675,355 26,519,255 21,316,183 Brit. South Africa ... 77,112,934 70,793,695 68,209,89.) Brit. East Indies... 31,245,958 30,537,877 33,570,665 Australia . 207,813,676 215,459,885 224,058,308 N. Zealand 161,730,088 173,557,418 159,340,730 I'alkland Islands 3,470,511 3,467,000 2,087,400 Other Countries 9,149,017 11,854,871 9,165,448 Total 579,427,221 586,197,185 585,913,123 Alpaca, Vicu.ua, and Llama ... 3,137,152 3,060,500 3,214,622 Camels' hair 4,917,292 3,925,746 4,205,559 Jlohair .... 16,686,385 14,894,162 10,546,716 It will be seen from the above table that Australia has supplied us with a larger quantity of .wool than during the two previous years, but there has been a marked falling-off from .-New Zealand. A very significant feature is the largo increase in the quantity imported from the River Plate, though some large decreases will bo seen from a glance at the figures given above. It is also noteworthy that our imports of mohair have shown a sensible decline, and aro much below what we imported during the two previous years. . SHARP DECLINES IN EXPORTS. What concerns us to-day is not so much supplies of raw material, which il am satisfied are fully equal to meetii'ig ajl the requirements of the' trade, as our export trade in semi and fully manufactured articles. Great Britain produces far morq than it can possibly consume, and it is remarkable when "one thinks of the- colossal trade that is done with the outside ' world in such articles 'as tops, yarns, and pieces. Without touching politics, this is a wonderful, triumph' of Great Britain's Free-trade policy, and no- other country in the world is doing anything like the trade that is being done by this nation. However, the figures for the past seven months do not show that encouragement seen earlier in the year, the trade returns for July letting down the previous month's record. The present industrial unrest, and the recent serious strikes, have no doubt left behind a rather bad legacy, and I am sorry to say th.it it. will take.time before readjustments take place. The higher wages are, and the cost of production is correspondingly increased. Without being a pessimist I feel certain in saying; that tho latest figures confirm the growing impression that I have previously noted in this letter,, that the boom seems to be ovor. For thro 3 months I have discerned clearly signs which confirm the general opinion that the crest of the'wave has been touched, and unless America comes into the market and beI comes an active buyer of wool and textiles, it looks. as if great difficulty is going to be experienced in keeping machinery going. Below I show a list qi tho exports in semi and fully-manufactured textiles during tho first seven months of the past three years, and tho figures are worth more than passing attention :— 1909. 1910. 1911. Lbs. Lbs. Lbs. Tops 21,706,800 26,695,500 23,099,700 Woollen yarn ... 1,346,400 2,211,700 3,368,500 Worsted. yarn ... 31,683,800 37,226,200 35,608,500 Yarn, alpaca, hair ... 8,927,900 10,110,500 9,334,690 Woollen tissues 42,328,200 52,317,800 57,036,300 Worsted tissues 47,730,300 59,251,800 48,446.700 Yds. Yds. Yds. Damasks, tapestry, etc. 74,200 106,200 75,400 Wool and mohair . plushes 177,900 186,000 226,300 Flannels and delaines 3,910,800 4,482,000 4,741,000 Carpets, not ' rugs „ 3,843,700 5,187,900 5,009,100 Pairs. Pairs. Pairs. Blankets 402,103 600,588 714,566 - ■£ ' £ £ Hosiery, wool, etc. 393,707 478,05S 553,214 MARKING TIME. Turning our attention to the wool trade proper tho strike at London docks is having .a retarding effect upon trade generally, and everybody rejoices that no wool sales arc taking plscc. It. was on the carpets at the recent scries of auctions that the men might throw down the gauntlet and retire any day, but for once fortune smiled upon the trade, and each day's sain passed off without a hitch. Of course, there are tho ships lo unload a.nd the. dirt-ct imports to be sent forward to manufacturing areas, and for the time being things are at a complete standstill. I do not suppose it will do any serious liarni ifHho wool is held up for n -week or two. but the sooner matters are adjusted, and tho men get back to work, the better it will be for all concerned. Strikes never did any good, and never will. In Bradford the holiday period period has now been entered upon, arnl this has pruetitically been a. blank week. Really speaking, the bulk of the mills will be standing the whole of next week, it being Bowling Tide. I am afraid that August is not going to lie equal to the same month during the past years, and it looks on the. surface as if a quiet period confronts the trade. Somehow there is abroad a feeling of nervousness, and tho tondoDcy is to let things go their own sweet way. Nobody seems lo fear any immediate rise in the price of either wool or tops, and two or three firms who chose to go up in a balloon by raising values beyond reason have seen lit to como down I to terra finnii, and aro to-day offering lo hike- fully lil. less than they' were asking last week. Some, say they have difficulty iii obtaining 2,s ;)}d, for a Ws top, ami no doubt that is so»

A cry similar conditions obtain in crosshrec!-, and here there U net lung much lo slnut over. Topmakers complain keenly about nn alienee of business, at lca>l ■new orders ■μ-q not forthcoming, «iul it is with dillicMilly thev can make, fully us much a« they could a fortnight 'ngo. J'hirty-two's smd 3G's iir? very lirm, but in -JO's and -!o's a iw.t can talk and nnko an There is certainly le?s lining nn export aecnnnt, and this is all in favour of tho buyer. Some are s-elliir; a! 0110 prico or another, a.iul 1 den't call f|iiotjitions any more than firm. Complaints are very rife abonl C|iiietiiess 011tiiiuiiig in J,i'iceslor, and somo travellers who have jn>t returned stale that they finil le.-s business offering than during the past two years.