THE WOOL OUTLOOK

New Zealand Times, Volume XXXII, Issue 7026, 14 January 1910, Page 3

THE WOOL OUTLOOK

MOST- CHEEKING-, PROPHECY. A LONG ERA OF PROSPERITY. • Mr Fiancis TVilley, lead of the firm of Messrs Francis Willey and Company, wool merchants and topmakers, ~ Bradford, has recently returned to Bradford ■from a ; trip to the United States,. says "Dalgcty's Review." Prior to leaving America Mr Willey -was interviewed by a representative of the " Textile Manufacturers' Journal/' of New York, and in

the course of conversation expressed the belief that the wool trade of the wond and users of the wool products must readjust themselves to a higher average range of prices for this staple than has prevailed heretofore. The " Texile Manufacturers' Journal " continues: — " Mr Willey is regarded in this country and abroad as one of .the closest students of every phase of the wool situation, and one of the most rejiablo authorities. He not only handles a large volume of wool through his houses. ;n Bradford, and in Boston and Philadelphia in this country, but operates large combing mills .at Bradford, England, and South Barr, Mass. " .Jami.. pessimists," said Sir AVilloy,

"claim .-ne wool prices are now too high. ao not cjreo with them, and believe ia at -they will be disappointed with both the immediate and distant future course of prices. I venture to predict that henceforth a higher .range of prices of wool will prevail than in the past. This prediction is based in large part upon, the constantly increasing output of gold. The increased'.production of gold has diminished its purchasing power, and prices of all commodities, being based upon this standard of value, are necessarily enhanced. Then, too, the march of civilisation throughout the world is making a larger market for wool products, while in all civilised countries we 6ee the steadily, advancing standard of living, which brings with it increased desires, and these in turn create a, larger demand for wool clothing and pro"ducts. Demand for wool, too, ia increasing much faster than its production. This is illustrated to a. marked degree in your country, in throughout the Continent of Europe, and eve.a in Australia and South America. " To be more specific. I may state that world conditions affecting the price and consumption of wool are unusually strong. In Great Britain and' throughout Europe the stock of wool has seldom been smaller. Manufacturers ia" Germany, France, Russia. England, and throughout Europe are busy. Wool has Been available at moderate prices, and this has encouraged liberal buying. Low quality wools have for a. long period been abnormally cheap, and have not yet advanced relatively as much as fine qualities. The latter have "undoubtedly been forced high enough for the present, but there is room for a further advance in low wools, and it is natural that tho nse of the latter should be encouraged by the relatively higher prices now ruling for -nne qualities. This tendency is very noticeable abroad, and there are positive evidences of its development in your country. "I can see nothing ahead that threatens to disturb a long era of prosperity for the- wool industry of the world. Surely nothing short of an unforeseen calamity, can disturb our prosperity in the near future."