COTTON, WOOL, SILK.

Evening Post, Volume CXII, Issue 91, 14 October 1926, Page 13

COTTON, WOOL, SILK.

"The whole atmosphere of the Manchester tleman in a London mercantile house to ,i New Zealand friend, under date Ist September; "the usual wlda variation of crop estimates continues, so that probably tho safest prophcy to make ia that tho crop is likely to be a largo one." Aa It turns out, this prophecy has proved safe, and rather within the mark, for the cablegrams report so big a cotton crop that prices in the United States have broken, special credits are being arranged for the loss-bearing growers, and there is a move to restrict tho cotton-planting area. The London letter-writer did not know those things when he wrote, hut ho observes that the general tendency of finished cotton goods in Manchester was downward at date of writing. There were, however, some linos that stood very firm, "the reason for this being that, owing to curtailed production, stocks havo got very low—so low, in fact, that suppliers would rather risk having to hold on a little longer to get their price Hum reduce now and find themselves later with nothing to sell." Viewed from tho writer's angle, the tendency in wool and woollens was upward on Ist September. "Prices on the wool exchange have advanced slightly for practically all qualities. This advance would probably havo been reflected to some extent in quotations to us, but for the lull in trade, and it may he that prices in general will show an advance directly any movement is manifest ami normal consumption is restored." Tho "lull hi trade" referred to Is, of course, duo to tho protracted coal strike, which may last out October, but even this handicap did not prevent tho London September wool sales (held since tho letter was written) from showing a firm advance. Of silk ho writes: "In this section again indecision is very apparent, tho causo here, however, being the violent exchange fluctuations . . . the full effect of which no one "China and Earthenware. —On account of the enhanced cost of coal, all members of the federation have notified an increase of 10 por cent, in all orders booked on and after 23rd August."