GERMAN TEXTILE TRADE

New Zealand Herald, Volume LVIII, Issue 17845, 28 July 1921, Page 7

GERMAN TEXTILE TRADE

ADVANTAGE OF CHEAP WOOL.

BRADFORD'S BITTER COMPLAINT. A. and N.Z. LONDON. July 26.

Commenting on a report from Berlin that German textile companies are enjoying the greatest boom in their history, and that the mills have sold the whole output to December, some refusing orders for 1922, the "Yorkshire Observer points out that when ■ Yorkshire was manufacturing wool was growing ever dearer. The Germans at that time were undergoing a compulsory regime of economy, forcing them to use up wartime stsbsfcifcute materials, which prevented the piling up of stocks of textiles bought at boom values. Fortunately for the Germans they had no Government monopolising the purchase of the wool clips and making a total profit of £'71,000,000 on these transactions as we had. The British Government monopoly prevented Germany buying wool during the post-war boom prices, iand now she is reaping the advantage, filling her warehouses with the cheapest wool since 1914, which Yorkshire, owing to losses on boom-priced stocks, the coal strike, and general depression, has been unable to buy. Germany has access to cheap free wools, but if wool prices continue to fall, Bradford will have an opportunity of replenishing stocks at prices comparing favourably with the Continent's recent purchases. The 8.A.W.R.A., aided by Australian panic legislation, says that this must not be allowed. Meantime Mr. Hughes states that he is attempting to engineer the removal of B.A.W.R.A. wool altogether from the market, which would be another magnificent event for Germany. Bradford has been and is being hit from all directions.