BRADFORD WOOL TRADE

Lyttelton Times, Volume CXVII, Issue 17311, 28 October 1916, Page 13

BRADFORD WOOL TRADE

[FROM OVV. OoRRKSrOXPEXT.] BRADFORD. September 1. , Since our last letter several points on which, in consequence of prevalent rumours, greßt uncertainty had arisen, haVc been cleared up. Several writers who are fond of sprending alarmist statements havo repeatedly predicted that tho Imperial Government would eventually commandeer colonial wool supplies at a fixed price in tho same •way that home-grown wool has been dealt with, but this matter was finally disposed of when a cable Avas received to the effect that Mr Hughes, the Australian Premier, and Mr Tudor, the Australian Minister of Trade, had denied any such intention on tho part of the Imperial Government. Indeed, the former went so far as to say that, so far as he knew, " the rumour was without foundation. - ' That satisfied the trade that at any rate there was no scheme in hand dealing with colonial wool apart from the application of embargoes on exports. Another point on which tho trade had been much upset was possible Government control of manufacturing processes. If one had believed all that was suggested thero would havo been no surpriso if the Government had taken over all the industry, but the Government has already cleared up that point by giving an outline of its intentions. It lias officially been announced that a portion of the homo clip will bo allocated to the trade for other than Government purposes at current markot rates, and that wool will be issued for future War Office contracts at fixed prices. It is now understood that all goods required for Army purposes will bo taken at a fixed reasonable margin of profit, and that; the necessary machinery for the prompt fulfilment of military contracts will become commandeered and controlled. Apart from this question of machinery control, there will apparently bo no interference with civilian trade. The air having been cleared by these official pronouncements, the easier tendency m values has been replaced by a hardening movement. This is the time of the year when as a rule business is quiet, and some attempt is inado to bear the raw material markot, but it is evident now that raw material is in a very strong position. Tepmakers are very cautious about selling forward, partly because stocks of raw material have become very low owing to tho tardy arrival of new wool from the colonies, whilst the 'shortage of labour makes them careful about promising deliveries. Indeed, it is said that there is practically no good combing morino wool left in TjOndon, and the sales open next Tuesday. Russia has bought considerable quantities of superior fine* wool in London, whilst tho placing in the West Riding of orders for 2,000,000 yards of khaki for the Russian Army has, had a very marked effect on tho demand for crossbred tops and yarns. The fact that in connection with these contracts prices for pieces and yarns are fixed, has a tendency also to fix tho price of the top, but apart from this consideration it is perfectly obvious that these Russian contracts will, in the course of tho next few months, deplete tho supplies of low cross-bred wool, such as iO's. The fact that all the British wool is to bo kept for homo uso will, _ of course, help to relieve the situation, but that will be counterbalanced ' to some extent if the. Government carries out its policy of keeping a reserve of wool in tho country for use after peace is declared. In this connection it is worthv of note that the preliminary statement of agricultural returns collected in Juno last shows that all categories of sheep are more numerous than last year to tho extent of 429,000. To* sum up the position as far as values are concerned, it may be said that whilst quotations show no change, there is throughout the market a hardening tendency and a buoyant tone. Tho average prices ruling on the market days named were as follow: AUGUST

21. 21. 23. 31. Merinoes — d. d. a. d. 70's . 65 55 55 55 80's enpcr . . 54 51 64 54 60'a ordinnry . 50 50 JO 50 60'b B.A. , . — — — — CrosE-breds — o^ 1 ?* » • . 45i iSb 45i 45J 56'3 . . S9J 39* m S9i BO'S . . sai 32j' 32$ 82J 46'n . 2TJ 274 27J 27J 40'b . £&i 26} 281 20$ 35's . . 2-44 24* 24J 24} S2'3 . 24J 24i 244 244 Lincoln — Hoggota WothfiJB . 19 19 1ft 19J . 19 .19 19 19J Kont wothora . . 315 21* 214 21i