WOOL MARKET

Evening Star, Issue 19002, 25 July 1925, Page 4

WOOL MARKET

INDUSTRY AND EXPORT EFFECT OF TEXTILE STRIKE Press Association—By Telegraph—Copyright. LONDON, July 23. Messrs H. Dawson and Co., commenting on the wool position, state: “The weakest factors are the adverse conditions and the lack ,of confidence in the home trade. There is an insufficient flow of business to keep the industry busy ,and competition for the small amount of trade has resulted in ruinous prices being accepted for tops and yarns in order to keep the machinery running. Consequently Bradford’s support for the London market is very feeble, and these prices are far ’below the raw- values ruling in London and the colonies. , The prospect of a general textile strike at present has destroyed the last hope'of an improvement, and has created pessimism. “ The need of the moment is an increased volume of business in piece goods, but this is not showing signs of development. The crippled w-orks need cheaper goods, in the absence of which there is no hope of keeping the machinery fully employed. Our export trade iS handicapped by the foreign exchanges and the lower costs of European production, and also by the high home costs for combing and dyeing, and heavy taxation. Furthermore, the heavy losses duo to the collapse of wool values have intensified the difficulties, but happily there is still a remarkable confidence in the trade’s financial stability. “ The best information reveals that stocks of' textiles are low r a nit, a trade revival might soon come if confidence and stability of values are restored.” —A. and N.Z. Cable. LONDON SALES. LONDON, July 23. The ivool sales closed steady. Finehaired spinners and merinos w-ero very firm at 5 per cent, above the May closing average. Top-making wools weakened to 5 per cent, below the May rates. Good scoureds were unchanged. Short and faulties were 5 per cent, below, and fine come-backs and half-brcds were firm at the May rates. .Coarse and medium,-were 5 per cent, below; the best slipes were firm, and others were _ irregular. Scon amis generally' were in sellers’ favor. In lambs, best merinos were 5 per cent, above the May prices, and short and faulty 5 per cent. below r . Cross-breds were very firm.

Bradford business is stagnant, and there is practically no inquiry. The threatened strike is affecting all sections.—A. and N.Z. .Cable.