OUR YORKSHIRE LETTER

Marlborough Express, Volume LI, Issue 157, 5 July 1917, Page 6

OUR YORKSHIRE LETTER

GOVERNMENT DETERMINED WO CONSERVE WOOL SUPPLIES

[SKCM OTTE CORRESPONDENT.! ; - v BRADFORD; April 24. Great events have.happened in -the wool trade since the/war commenced, hut there appears to be no limit to the possibility of control- and' the introduction of new schemes, and it is quite evident that whatever may be said about the wisdom of introducing new machinery and new methods, the authorities are determined to carry out their policy. One thing which has recently become mpie evident has been their determination to curtail consumption in the*, home trade, this being decided upon because of the importance of military requirements, and also .because of ' the serloiisness oV the question of wool supplies as a whole. The. new Wool Advisory Committee formed in place of the old Panel have set to work in a most serious fashion, and iat a meeting held a few Mays ago some important suggestions were made in the course of making a review of the entire wool position. -Seven important recommendations were, made, and after readers have considered them, they, will see that the authorities here are not regard^ ing the problems they have in hand as riiere child-play, but that they are •carrying. them through with determination. • .'."'. DRASTIC RECOMMENDATIONS. The first recommendation is that steps-should be taken to accumulate in< this country a considerable reserve of wool. This is made necessary by ,the Jarge military requirements," and also by the present state of wool •supplies, which though regarded by some'who ought to be in a position to. know as being .satisfactory, is not looked upon in that light by the Advisory Committee. Second", the means^ by which the aforesaid object is to<be achieved and also to maintain ,the export trade at the maximum, is curtailment of production for , "home consumption Third, spinners, and manufacturers should be supplied . with ■ wool and tops under the priority scheme already workod out ah consultation with-the War Office and the Board bi Trade; Tliis means (,:\ that these' two see'tioiis'--o^the; traclo' (s]tinhOTs ::&iid xn^^ ev^n': though not actually engaged on Government work, will be required to state what the tops ot yarns are wanted for, and supplies will be provided"; accordingly. The fourth recommendation is that manufacturers; should economise wool as much v as possible by substituting for' the civilian, trade. Also steps -will be taken to prevent.accumulation of stocks, and manufacturers, merchants, retailers',. or other . traders yho. attempt -to safeguard their own individual supplies will do so at their ■own risk. Further, theru should bo no distribution of Government wool . or tops, and no auction of free wools, to be held.till after the- end of May. Sales of wools or tops should be proliibited until further notice, except .in cases of special■ hardship. This :aetioii is the outcome or the'.determination to find out more' fully the true position of supplies, and ■obviously 'it would have been unfair to stop the business of private ''dealers, without also suspending all. public, auctions. The last proposal is that manufacturers and spinners rshould be warned that stocks of wool land tops held by them should be iised primarily for Government, or in the i ■event of that being impossible, for export or other approved purposes. They should also be. given to iinder- • stand that the use made of their .present stocks would be taken into account in the distribution of wool -or tops required to keep machinery :running later. : LONDON SALES POSTPONED. The- issuing of the order respecting trading in wool and other commodities necessitated the postpone- \ ment of the London sales. It has already been pointed out that the idea behind the order is thorough' ■ consideration of wool supplies, and :it is quite possible that Cape merino may bo taken over to fulfil the requirements of the Government if it is found necessary to do so. The lunfajraess 'of stopping private trading in the commodities to'which .the or dei referred and allowing the public auctions';k> continue is fairlv -1-ehce ille ' postponement of the London auctions, and also the Liverpool sales of River Plate .wools. There appears to bo every pro■bability of all wool supplies, both ■.merinos and cro&sbrcds, being taken over entirely by the authorities, and lalso that they will continue their policy of giving preference to crossibred requirements for military purposes. So far as is known at present the Lpndcm auctions will bo held about --\ fortnight alter the date -originally arranged for, namely, May list, but this is only surmising on tjie grounds of the announcement made m the official order. Only 30,000 bales were scheduled as being available, a very sinall quantity indeed compared with normal times, and it is impossible to say at the time of writing whether a fortnight's delay will result in any larger weight being •ioffered.

WHAT, AMERICA WANTS'. Australian pastoralists have always .Valued American competition in their •own market, because it has helped in no small degree to bring them' goad prices for their clips, and judging from what the writer knows of jpastbralists' feelings, they have not welcomed any measures which have tended to' deprive them of that means of competition. Headers have already been informed oi the steps taken by the authorities here to enable America to., secure a reason'able quantity o; wool, 10,000 bales having been set apart for them at the last London sales. Only half the quantity was taken, and judging jfrom that- fact, and the attitude revealed by the American trade, the latter have not_ taken tho bait laid for them. o This is perhaps stating the case somewhat strongly, but the

fact is that American users luivc not relished the idea of beiiig asked to come to London to buy wool when freight rliarges to that centre from the. Colonies .are so high. With prices being fixed by our authorities, they would by purchasing here be compelled to pay more money for the wool they secured than if they had the privilege of buying in Australia. The condition laid down by the Imperial Government was . that any profit made on wools sold in London should, bo. divided, between our own and the Colonial Governments. This profit-making idea does not appear to have been realised by the trade, but in any case so far as the trade here is concerned, there is no objection whatever to America being allowed to buy in the Colonies. This really seems the most practical and sensible method to pursue, for freight to London would thereby be relieved, and American purchasers would be placed on practically the same footing as far as Government wools are concerned. as home trade buyers who operate in London. Certainly growers will have nothing to gain Dy America buying m Australia, prices already being fixed, but all the same it is'a matteof some littie interest to Colonial pastoralists that the American trade has no desii'e io remove their patronage from Australian selling centres. MARKET CONDITIONS.' The above title is really, a misnomer, for as a matter of fact there has been' no market during the past week in the teal .sense of the term, and vists paid to Bradford Exchange have been entirely for the purpose of talking over the situation, and'clearing up old business. No buying or selling of wool or tops or noils has been possible, consequent upon an order issued forbidding the purchase or sale of these commodities until .further notice is given. The announcement came as a surprise to the trade generally, for full explana-

tibn.s were not made, though it was intimated that the order was closely associated with the question of wool supplies. It is not enbiiely a case flf safeguarding military requirements, but also taking steps to.find out the true position *of supplies .generally, and from what , has, already been said in h. previous paragraph the. 'reader will see that some most drastic steps are being taken. Some very conflicting opinions have been expressed even in high circles as to the true position of wool sup,plies, but whatever the facts of the case may be, it is evident that the present authorities are determined upon conserving these supplies as much as possible. Naturally the Qnjer respecting wool, tops, and noils has put the market into an almost chaotic position, and spinners interested in civilian trade have also 'liad the outlook made sbili more obscure by the announcement that the War Contracts Department do not inten-.i to issue any further supplies of surplus Botany tops till after the end of May. One thing which has helped to strengthen prices in the open market has been the persistency with which spmners ha\e been compelled to buy any small weights which they could secure, and it has been stated on one or two occasions by spinners themselves that if they wait till their turn comes round for the tops they have applied for, they will not be likely to get delivery for two or three months after May. Though the War Contracts Department are not giving out tops, they are still open, to receive applications.