BUSINESS IN WOOL

New Zealand Times, Volume XXXIII, Issue 7851, 13 July 1911, Page 8

BUSINESS IN WOOL

OUR ENGLISH LETTER. THE IMPORTANCE OF PROPER SORTING. mCM oun SPECIAL cohrespondeni. BRADFORD, Juno 2. Business is proceeding on lines tliat might ho expected after the finish _of tilings In Coleman street Wool Exchange, and this week there has been no marked activity, and no new light has come over the situation. This has been rather a disappointing week, but everything remains inract> and the situation is inherently sound.. The fact sometimes is lost sight of that wool values cannot alwavs be mounting, and if today a halt lias been called, then it is not more than what might have been expected. During the past three years we have been so accustomed to piping times accompanied with rising values, that directly the first setback occurs a largo number suddenly turn pessimists, and exaggerate a likely fall just the same jus they did the month previous a further rise. Wo can see nothing to warrant anyone taking a really depressing view over the future, for the Unde is now digesting quietly its largo purchases of raw material, while buyers are adjusting themselves to the demand which is being made upon them for both tops and yarns. Both commission woolcombers, topmakera, and spinners have had a rather rough time of it this year, but their position has been wonderfully relieved by the knowledge of the fact that business was good. It is quite true that all alike have l>een anywhere between the devil and the dep sea, for no section has been able to oblige its customers as one could have liked. Many combers are a month lie hind hand with their deliveries, and although toptnakers have done their very best by sending out almost daily 10 packs here and 10 packs there, still spinners have perhaps had the roughest time of all bv their being unable to give reasonable delivery in yarns. All this we say is positive proof that the wool and textile trade still occupies a very commendablq position, and so long as the raw material is ground up, then little concern need be manifest over the future of prices. MERINOS STEADY.

As already said, eales of lops this week have been rather limited, and where made it has been practically impossible to make more than 2"d for an average super G 1 *s. Some refused immediately after Easter 27 \d for their standard tops, and we certainly thought they were unwise in doing so. A young man onoo asked au old Quaker. when it was right to cut- au ash- stick, and the old man having seen a good few summers bluntly replied in Yorkshire parlenco “when tha sees one/' The same sound advico applies in the wool and top trade. When prices are high aiid men are keen to purchase, that we say is thetime to sell, and those who refused cither 27£d or 273 d for their 64's cannot to-day make that price. All the same topmakers are in no sense keen sellers, nor are they likely to be unless their position, ia weakened by the action o! little tonmakers who must sell. It is commonly 1 said that three weeks of quiet markets In Bradford always finds values on the case, but there is no reason why -this , should be so. At the moment there is a little nibbling and many inquiries, spinners keeping in very close touch with the market. They say that they 1 have no need to buy, and will not for' some considerable time to come, but vre have heard such fairy tales before. It is a well known fact that several did not cover in March when prices were rising, and they have a need to-day of purchasing some fair big quantities. Directly they think the lowest point is touched, they will be in, and that will rnark the moment for topmakers putting Up their price to rates ruling about six weeks ago. Really speaking w© have had very steady prices since the spurt in March, although to-day it is possible, to buy at }d to -id less than what could then be made. All the same fine wool and tops /still occupy a healthy position, consumption being- at the maximum. The present spell of quietness is giving many firms the opportunity of gaining a little ground, and on the whole wo do not think any section of the trade is the least sorry at the slowing down in' the demand for tops. We call average G4's worth 27d to-day, 70's 28d, and 80's 30d, these being selling prices. Commission woolcombers are still exceedingly busy, and have* great difficulty in' coping with the orders they have in hand. . FAULTY WOOLS. At the recent series of London sales the greatest weakness was seen in scourfed faulty merinos, the decline averaging a 1 good penny per lb. Some big weights of those aro produced among fellmongers and scourers both in Adelaide, Melbourne, Sydney and Brisbane, and we are certain this season little good has been done by those scouring in Australia and shipping for realisation in Coleman-street. We are afraid the value of those wools has been rather over-estimated. So ioug'as\ they are free of stained wool they can bo readily used by topmakers for blending with fleece wools, while even shaltj bellies, if clean, are also freely used. Wo have often said that it pays colonial pastoralists as well as scourers to spend a little more time in sorting these before putting them, through the washing bowls. These faulty wools are usually very seedy and burry, and they have all to be carbonised before being fit for use. L T o\v this class of staple is to-day competing • keenly with the large quantity of seedy,; burry noils which are on the market, i and which are still a drug. Of course, J faulty wools are more shaity than noils, j but ail the same, to a large extent, they | serve . the same purposes, and the low ; prico of noils has certainly had an injurious effect upon the former. Perhaps,

someone asks, what are faulty wools used 1 for, and they servo a very good purpose, particularly among woollen manufacturers. They are usually extracted or carbonised in order to get rid of the seeds, shivs and burrs, then the wool is dyed the requisite shade and used in the production of tweeds or plain cloths. There are several firms engaged in the production of flannels, thin meltons and ladies' fabrics, who use these faulty wools, but they must be fine and free from coarse fibres. A large quantity of these faulty scoured wools are oftentimes badly mixed, there being in the same bales 60’s and 70’s wools. This is a mistake, and limits at once competition. We must say that we cannot see much chance of this class of staple fetching, any more money in the near future, for users in this district are well supplied, and although they are busy, still having bought freely in Australia and paid more than what similar wools have sold for in Coleman street, they are naturally in no form for increasing their stocks.

THE POSITION OP CROSSBREDS. Crossbreds are to a large extent marking time, and bolding their own. Most topmakers assert that there is little doing, no doubt the holidays and other circumstances all conducing to a decreased activity. At the same time the fact remains that machinery is still running as briskly as ever, and there is no cessation whatever in the demand for tons or yarns. Most topmakers are in a very comfortable _ position, and well able to keep all their sorters going for some considerable time, while commission woolcombers have still difficulty in getting out tops fast enough to meet all their customers. Me hardly think there is the same keen demand for 36’s to 40’s that there was, and the call this week seems to have been more pronounced for carded descriptions than prepared sorts. It is well kouwn that Id’s to 56’s have been available at about Id less, due no doubt to the slightly lower prices which were made in Coleman street for fine halfbred New Zealand wool. We are glad to be able to say that the briskness in the Leicester and Scottish hosiery trades continues, and hero are some very big quantities of raw wool are being absorbed. So far this season ladies'

sweaters, which during the past two years have absorbed some big quantities of 4Ts to 50’s wools, have hardly been so largely worn, but it is really a little too early/ Judging by our export returns sumo big weights of knit goods are being shipped abroad, and it matters not if consumption is maintained where the raw material goes. Crossbred noils are u very cheap article, and stocks are rather heavy. Notwithstanding most descriptions of crossbred tops being procurable at a fraction less, spinners are stilly maintaining their prices, and single. JO’s cannot bo bought anywhere under &s t>or gross, with delivery anywhere from 16 to 20 weeks. NEWS FROM ROUBAINI have this week an interesting letter from a leading French wool firm in Roubaix in which they say “there is no change here in the general situation. Everyone are maintaining their price to prevent them declining on the termo market. It will suit no section of tho trade to see values decline at the present time, for on the contrary those who are carrying stocks are manoeuvring in order to inspire the general opinion wdiich has been effected owing to the weakness in Coleman street/’ Tho above shows conclusively that sentiment in the Bradford of France is very similar to what it is in this district. GREY HAIRS IN WOOL. At the monthly meeting of the Brad*ford Chamber of Commerce on Wednesday the above subject, which is an important one to tho wool tra.de throughout the entire world, was discussed. This really is a question which in tho first instance relates to wool growers. It is a well-known fact that when black or grey wool becomes mixed with white, it? is very difficult to separate the fibres, and while the custom is general of baling separately black fleeces, yet some sheep show a -tendency for producing grey hairs, this being more particularly seen in the Down and mountain breeds. It is absolutely essential that the black fleeces should bo kept separate and sold as such. Of course, black wool is to-day a very useful* commodity', and is largely used in tho production of "natural*' underwear. But it is not so much tho production of black fleeces that tho Chamber of Commerce is dealing with, as bits of grey wool growing > on tho fleece of sheep which may be said to bo white. Tliis mixing of a few grey fibres in a blend of wool is rather a serious matter, for these will not dyo like ordinary white'wool, and they show up very plainly when the pieces aro •dyed. Sneepfarmers are therefore urged in selecting stud sheep to give a very careful and minute examination, and if they see the least tendency in the fleece towards the production of grey fibres, those sheep should be discarded. It is absolutely imperative that grey wool be kept out of pure white fleeces, otherwise it entails a great amount of labour at this ond, deteriorates tho value of tho raw material, and is a source of expense to the manufacturer if accidentally grey or black fibres crop up in either white or dyed pieces.