BRADFORD WOOL TRADE

Lyttelton Times, Volume CXV, Issue 16493, 7 March 1914, Page 8

BRADFORD WOOL TRADE

[From Our CoRRMroNMNT.j BRADFORD, January 23. Last week there was a littlo business passing, and owing to the dearness of raw material, topmakors quoted a farthing advance in some cases. The London sales opened with merinoes generally on a par with the closing rates of the last series of 1913, and with cross-breds about- 5 per cent higher. After the first few days, However, merinoes stiffened/ and most greasy descriptions showed an advance of 5 per cent. Competition was keen .for both merinoes and cross-brcds, the latter of which were in very small supply. The rates realised wore quite beyond the roach of this market. Those topmakers and spinners who were buying wool at the sales were forced to do so in order to cover contracts or to keep machinery running. There was some hardening in Bradford quotations, but this by no means sufficed to bring the two markets into consonance. A similar remark applied to colonial markets, and it was calculated that tops made from wool bought in the colonies would cost a penny more than could be made in Bradford.

The outstanding feature of the market, indeed, is the discrepancy between the position of raw material and tho commodities into which that raw material goes. There is very little business indeed in yarns, and prices have declined during the past week or two. A significant development is the- reappearance of low quotations in second-hand on the part of merchants who arc holding too many stocks. Neither Botany nor cross-bred spinners are well situated with regard to orders, and many of them are working to stock. This is especially the case with regard to cross-bred spinners, who have much difficulty in getting hold or particulars. If evidence were required of the unsatisfactory slate of trade it is found in the Board of Trade statistics of employment in the worsted trade. This shows that coninared with last year the number of workpeople employed snows a decline of S.-f per cent in woolsorting arid combing, _ 7.6 per cent m spinning, 2.6 in weaving, and 5.8 per cent in total; and the decline as compared with last year lias been progressive during the past few months. So far as general trade is concerned, the cheapening of money both in this country 'and on the Continent, witnesses'to the diminishing openings for profitable deployment.of capital. Business in Bradford, indeed, is comparatively quiet, in all directions. Users are not inclined to enter the market at present, nor do they appear to have nmeh, to cover. An impression prevails that when tlie stimulating influence of tho London sales is withdrawn topmakers may have difficulty in maintaining rates; and this, in conjunction with the fact that eross-breds at present are in an artificially strong position, does not make users devSirous <jf anticipating their requirements. Home wools keep fairly firm, and holders of wool in the country adopt an independent attitude. Business, however, is quiet. The following were the average prices ruling on the market days named : Januavv. 12. 15. 19. 02. d. d. d. d.

Mei'iu&cs — 70's 28* 26J 281 oga 60’s super o7.a -• < 272 27| 271 KO'ts ordinary 265 261 2r,\ 261 60's B.A. 2?i 27J 271 271 Cross-breds — oS s • • 23 i 23J 031 23 V 56’s 21J 211 212 212 60’s # • 19 1!)' 19 19 46’s « • 16 16 16 16 40’s 14J 15 15 15 86’s 142 142 1.4J 14? 32’s 14 J 14J 142 141 Lincoln— Hoggets 124 12 j 12‘. 124 ■Wethers 12? 122 122 12? Kent wethers . . 132 132 131 13?