AUCTION & SALES YORKSHIRE LETTER

Dominion, Volume 13, Issue 70, 16 December 1919, Page 13

AUCTION & SALES

YORKSHIRE LETTER

WBTUOOMNG FIXTDREH TO-DAY. SOJfl a.m.—Land sale (Tanners' yo oj. Auctioneering Co.). "•tin Yards, 1 p. ir.—Stock sale (Abraham and Williams, and Dalgety and Co.). waipulrurau Town Hall, 2 p.m.—Laud sale (Williams and Kettle). aauriceville West, 12 noon—Salo of stock and implements iWairarapa farmers'.) TO-MORROW. HuntfliTiil®, 11 a.m.—Land salo (Abraham and Williams). To Horo Yards, 1 p.m.—Stock salo (DalKcty and Co., and S.Z. Loan Cov). Lyceum Theatre, Feildiiig, 2 p.m.—Land salo (Abraham and Williams). THURSDAY. Brlli Hall, Pahiatua, 12 noon—Furniture salo (D. Moriarty). Pahautanui Yards, l p.m.—Stock sale (Abraham and Williams), N.Z. Lean Co., and Dalgety and Oo.i.

IMPROVED INDUSTRIAL OUTLOOX Prom Our Special Correspondent.' Bradford, October 10. The general outlook in the wool textile trade now seems to bo butter than it has been for several months. Various factors have contributed towards this, 'l'he London sales recently closed have shown that no littlo confidence exists in the raw material, and when this is the <»se it is impossible to regard the outlook for its products with any real misgiving. There I are signs of developing business with the Continent in the products which lyere popular before llio war, and though it is unwise to expect rapid developments in this direction, the fact that the general tendency of events is favourable lends definite colour to tho faith which is beinp pinned to practically all classes of raw material. The,, only weakness in the- London sales.. waS' tho comparative cheapness of low wools, but other_q«alities have reached a phenomenally high basis, and if the posi tion generally were more normal there Would be less tcoiq for criticising tho prices for low' stuff. It lias been maintained for a. long time by many directly interested in the trade that tho disparity between fine and coarse wools was too great, and that either one should bocome cheaper or the other dearer. A further enhancement of values in' any section seems to be undesirable at the present juncture, though given 'the expected expansion in the outlet for medium and low wools, a further hardening tendency in these is quite within ranire of possibility. On another page something is said about what is actually happening in this connection, and if Continental markets go on developing as thoy are doing at present there is every reasonable prospect of a very satisfactory amount of business beins done. The Prevention of Strikes, Another circumstance which is probably more potent for good is the definite arrangements which have recently been made in the wool textile trade for a settlement of tho wages problem. The cost of living is acknowledged to lie high, and those who follow routine oceupatcona for which there is little scopo for the exercise of skill have quite as heavy a burden to carry so far as-mere living is concerned as anybody else, and there has been little causo for wonder at evidences of strong dissatisfaction and resentment being shown. Profiteering has come to be an acknowledged fact even in the wool textile trade, and when all tho credit possible has been given to tho good old law of supply and demand, there enn be no doubt that opportunity has been wonderfully convenient for the purpose of securing prices which other-; ■wise would have been unobtainable, and which at the same time have about them • an aspect whioh is not altogether creditable. However, an all round adjustment of wages with a recognition of the possibilities of fluctuation in the cost of living seems to be about as fair a way of dealing with tlie problem as could fiave been instituted, and' tho larger part of the operatives in tho wool textile trade 110w being paid on that basis should tend to prevent a repetition. of the discreditable disturbances which have recently taken place iu the wool textile trade itself, and in occupations upon which it is dependent. The railway etiik? afforded an excellent illustration of tho impossibility of any ssction of too working community being a law unto itself, and for the time being at any rate there i 3 a general fooling that strikes cannot ultimately be beneficial to any party involved. ' Certainly the wool textile industry of this country has a profitable future before it, providing the present more amicable feeling continues. Postponement of London Sales, dates on which wool sales will be held in London during tho remaining months of tho current year nave noiv been definitely fixed. It will be remembered that at the close of the sixth series ft was niinounced i ! " ' the opening of the seventh series probably have to bo postponed to October 27, and that the Liverpool sale originally scheduled for October 9 would also have to be put oil to a later date. Another announcement made by tho Commit too of London Wool Brokors was that tho first auction of Government wools to bs held in Antwerp would probably take place .about tho end of October. The dates fixod for the London sales are October 27 to November 14 and December 1 to December 29. For the Liverpool sales tho dates nre November 21 and 22 and, December 23 and 24. The postponement <-f the eales is a very wiso move. Though the railway strike was dealt with by the authorities in a very capable manner, it was inevitable that delay should takrp!ace in the transit of merchandise, and wool has had to suffer along with jt.her goods. Tho trade also have a large weight of raw material in front of them, and a period of three weeks between the closing rf the sixth series and the opening of tho seventh is not too long. It will give time ■ to straighten many i. tangle, and buyers will thus be hotter prepared for operating when (he sale? actually begin.

Board of Trade Return:. No better indication, of the state of the industry eaii be found than the Board of Trade returns. Slntist'cs ai not always reliable, as elusivu' overbr ping influences are often at work, but tho said returns may lit? regarded as being as reliable as any. and consider!!': the figures which cover the first nine months of the present year there does not seem to very much cause for compln'nt. Taking the law material first, Ihe imp-arts of foreign and colonial amounted to 2,585,120 hales. Thr quantity retained was also considerably more than in 1915, which up to the publication of the present returns constituted a record for tho past six years. There was a substantial increase in re-exports compared with 1917 and 1918. but tho i urntity was .considerably below those reexported in 1911 and 1913. Tho iiumbei of tales re-exported in tho liret nine months of these two latter years were 671,373 and G55.W8, the quantify for the period under review being 213.887. Exports of British woo! were still a long way below normal, the quantity bein" only 9,178,2001bj, over 1,000,0001b. less than in 1913, and over 2,000,0fi01b. loss than 1011. Continuiw; an examination of tho nine months' figures, British exports show up very favourably compared with the same periods of 1918 and 1917. Tho increase in wool exports during the past nine month's compared with the latter year, was over_ l,f!00,OD01b. Noils and carded or carbonised wool increased about 3.000,0001b. Top; showed a decrease of nearly 1,000,00011)., woollen yarn nn increase of nearly 1,000,0011)., worsted yarn 1,030,0001b., and mohair and alpaca yarn a decrease of well on towards 5,000,00011). There was a decreasj in all i])aiiufa'( , tiired''good?;'and , <it wiHulie-i'sncn that the item which comb's out best is raw: wool; ■ AVoollnv and:'worsted jams showed 'a substantial increase .compared with 1918, but fops showed a' decrease of 4,000,0001b. The returns for September month show a considerable decline in the exports of tops compared with August. The quantities being respectively: 878,8001b. and 1,429,0001b. Worsted

yarn depreciated from 2,820,4091b. in August to 1,357,5001b. in September. The exports of woollen tissues in September wero 9,700,800 yards, compared with 13,932,500 yards in August. Pro-war Exports. It ia evident from the following- table that there will have to be considerable development in the export of certain commodities before the pre-war standard is reached:—. Jan-Sep, Jan-Aug, Jan-Aug, ' 1919. 1911. 1912. lb. lb. lb. Tops 8,720,700 2(5,474,100 29,104,200 Woollen yarn 3,106,200 3,775,500 4,250,800 Worsted y'rn 17,379,400 40,332,800 37,970,200 Mohair & Alpaca yarn 791,100 11,010,700 10,100,700 yds. yds; yds. Woollen tissues 94,408,209 G0,705,900 07,324,200 "VV/itvataH Tir- I sues 23,591,200 54,407,500 48,267,500 Flannels and delaines ... 2,658,000 5,325,100 4,622,700 Blankets (pairs) 810,8-16 777,520 765,082 Crossbred Yarn Trade. Since writing the above, further proof is forthcoming of an improvement in llio crossbred yarn • trade. Merchantins houses who do a larje business in this class of yarn, and who.a fortnight ago could have placed good orders with spiuners, are now finding that a great change has come over the attitude of their clients, whose quotations .have been advanced in a marked degreo. It had been assumed that many of these 'spinners would bo open to accept orders, and no -doubt this was the case only a short timo ago, but it is evident that enough business has been placed to satisfy many for the time being, and there is every indication that manufacturers who have left their buying till a later date will be .up against decidedly higher prices.