OUR YORKSHIRE LETTER

Dominion, Volume 6, Issue 1705, 24 March 1913, Page 8

OUR YORKSHIRE LETTER

AMERICAN WOOL TRADE. i . ,(From Ouv Special Correspondent.) Bradford, February 7, 1913. Those attending the recent series .'f Loudon sales felt u littlo surprise when one or two' days' merino wool that had come back from Boston, was reoltered in Coleman Street. Alter the repealed statements that the American woolleu tml worsted industries were enjoying a perioa of prosperity, it did indeed seem striqge that wool siiouhl navo been sent back to Iw realised in London, and when lh-j bales bore tho nanio ol tlio American port, buyers were bound to believe their own eyes. Tile amount of wool resold was in iteslf significant, but tho lact that thea> was any at all to be disposed of is «u incident which deserves more than Discing attention. We know for a lact that tho wool sold resulted in rather a serious loss to tho owners, but it can k> taken for granted that the prices realised in Coleman Street were better than cowl have been made in the United States, otherwise the bales would never have been returned. Having heard so much lately from America about stocks of tlieir own territory woolg being low and prices better, ono woulu have thought that a satisfactory way could have been. found for dealing with whatever stocks of Australian merinos were in bond at the three pnncipal selling ports. As a-watte? ol fnct some fairly reasonable weights cf Victorian wools a'year old have lately oeen sold round Bradford, which .were the jcmaining lots of those reoifered recently in Coleman Street.

The question arises: Why should nut these wools be lifted and disposed of to advantage in Amerca? The market prco of the raw material has certainly improved since tho lots were bought, but it can be taken lor granted tiiut simUir quantities oi' their own domestic wools have been available at pence per pound less than the Victorian wools in question, and there we have the reason w'\v a profitable outlet has not been fouiu for tho merinos recently disposed of il Coleman Street. ' ■ AMERICAN TEXTILES. The writer stands in my cioso connection with the united States textile inuustryyaim lias touowed Hie courso of tnat market witn more man ordinary lnteriiSi (luring luiii. 'JLiie reported briskness of tue textile trade is a cause lor satisfaction, and tnat practically.ali wooLen und worsted mills nave uecii running mil tiiuo during last year is a pleasant leature. Tae labour uiilicuity seeuisto be troubling a lew centres, just as is me case in mo West Eiding, lor nanus are. very scarce, and machinery' is standing to-day in Lradiord and district because labour is not available, 'ilie same state of tilings to some extent prevails across the At»aii- i tic, and at the present time, altnougli a feeling of uncertainty which is soiuennat unseitlijig tho industry is in evidence, traue generally is goou, and tue prospects point to a continuaiicc ol a fair measure of good traue. Tile cable news to hand this week speaks of the market lor wool as being somewhat "dull wiln nianuiactui'ors adopting a waiting policy, .business is confined almost entirely to cleaning up odd lots, with a mild interest oispiayed in loreign . wools. Contracting lor growing wool in the west is aiso (linuenng the attitude of growers, wno were asKing prices appioxiluateiy equal to tnose oi last teasuii, and ill view oi tiie tanli. out.ook, buyers.are disinclined to accept those terms." Leiore ucaiwg wuii uie question before us, wo give beiow particulars showing tlie amount ot wool in tlie bunded wareiiouses at the ports of Boston, fvew lork, and -Philadelphia on tne.dates named: — Jan. IS, Dec. 14, 1013. ■ litis.

Class 1, ■ merino and cros-sbrcUs 26,550,571 17,901,328' Class '2, English wools 1,270,322 1,001,H1 Class 3, carpct wools 15,937,927 17,G50,5G7 T0ta15,.... 43,767,820'-' 30,569,336 It wiil bo seen'from the abovo that the stock-on hand tu-uay in colonial merinos and crossbreds is slightly, larger than, at the corresponding dato a year ago, but in the aggregate stocks are not heavy, and a settlement of tho tariff difficulty * would no doubt 'stimulate the demand for the maiiulactured articlo, and so bring out more orders for fabrics. SOME INT'EBESTING FACTS. This week brings us tho annual survey of the woot traue of the "United States, as published by the National Association of wool manufacturers, an important body of individuals connected, with tho woollen ,and worsted industries of tho United States. It is a very useful compilatioin of facts and figures, and, of course, tho association is protection" to the backbone. Naturally tariff agitation and tariif vevision—"tlio baite of the woollen industry"—gets a considerable amount of space in the pages of tho bulletin. Still, tho fact is acknowledged that in face of tariif uncertainty and agitation the trade last year enjoyed a period of prosperity, all mills being kept Hilly run. In fact, there is hardly a note of dissat : sfaction expressed with tho trade of last year, spindles and looms being kept running lull time—a strong contrast to tho experience of 1911. AVo arc glad to bo told that no surplus stocks of manufactured fabrics are being carried, the produce of tho mills being slrfted to wholesalo and retail houses, and that in spite of complications anil of tho certainty of tariif revision during vtlio coming year, 1913 opens with wool markets in a reasonably strong position, dealers and manufacturers being somewhat bare of wool stocks. This is very good news, and is certainly an encouraging announcement to many London firms watching tho interests of Australasian growers and snippers, particularly those whose wool is crossbred. . After this chcorful summary of tho position, the secretary unfortunately goes on to lament that a continuance of the prosperity of 1912 is not to bo expected. . "Downward tariff revision is not far remote, and this menace will become very grave and imminent as the spring months approach." It will be remembered that President Tal't appointed a Tariff BoariL for the purpose of reporting upon-manu-facturing conditions in England, and on the Continent, and upon its findings it was hoped that a "scientific tariif" would bo formed and -adopted .by the recent Congress. AVe all' know that two newrevised tariffs on Sclicdule K were passed by Congress • and presented to President Taft, who vetoed them. It appears that Mr. Marvin, the secretary of the AVool Manufacturers' Association, would have littlo fear respecting the woollen industry if tho new tariif was to be framed on the findings of the recent Tariff Board, but he announces his conviction that with a Democratic Congress it is very unlikely that that report will not be pushed on one side, and that the now duties will not differ greatly from the Bill which was passed in 1912, and which represented a compromise between the Undenvool Bill passed by the Lower House and the La Follette. Bill which was passed by the Senate. Ho informs us that the new duties in the compromise Bill were 29 per cent, ad valorem on raw wool, and 49 per cent, on woollen fabrics, as against 20 per cent, on raw wool, -10 per cent, on cloths, and 45 par cent, on dress goods in the Underwool Bill, while the La Follettc Bill provided for a duty of 35 per cent. on clothing, 10 per cent, on carpet wools, and 55 per cent, on cloths and dress goods.

THE WOOL CLIP OP AMERICA. The total wool clip of the United States in 1912, .exclusive of faulty wool, was csKmSted at 202,513,1C011>., a decrease of 11,501,5001b. on 1911. The scoured equivalent is put down at 100,500,0521b., a decrease of "3,029,5131b. from the previous year. The number of sheep returned ns fit for shearing is given at 35,181,000, a decrease of 1,280,000 on 1911, the total that yea: - being 39,701,000. One of the strongest arguments of the late Judge Lawrence, who had a loading hand in framing the wool, duties of the Dingley Tariff enacted iii 1897, was that with adequate protection United States slieepfnrmers would grow all the wcql that was required, that it would give new life to tho sheep-breeding industry, and bo the means of causing a big increase in tlio number of sheep kept. What are the actual facts? In 1885 tho number of slice]) returned by tho Agricultural Department as being depastured in the United States was 50,300,213; in 1002, ■12,181.122; and ;n 1912, 38,181,000. The above points its own moral, that notwithstanding the big efforts which-will bo made ou the part of those representing

the wool-growing interests of the United States on the forthcoming Bill, it 19 plain to see. that United States manufacturers cannot do without Australian merino and crossbred material, and-it is to Ijo sincerely hoped that in the new 13ill provision will l:e made for importing second' and third-rate wools, such as broken, pieces and bellies, which have helped to make both Yorkshire and Conthiental woollen and worsted industries 'what- tliey are. . There is no change in the local wool situation. Prices are very firm; moro business is doing; in fact trade is good all round.