ENGLISH WOOL LETTER

New Zealand Times, Volume XLII, Issue 9613, 20 March 1917, Page 2

ENGLISH WOOL LETTER

SLIDES THE ONLY YVOOL TO MAINTAIN DECEMBER PRICES. From Our Special Correspondent. BRADFORD. January IS. The first series of the London tales of this year finished on Tuesday with values hardly bo good as they were at the opening, even for the best wools, lor tho first week or so the best greasy combing merinos sold very well at about an e-ual level to that of December, but during the last three or four days values eased perceptibly. Users for the time being seemed to have hiifcd their more immediate wants, and have made sure ol the wool they need. It has been quite obvious from the way one or two wellknown Bradford topmakers have been operating iliac they had been counting on covering certain of their, sales of tops by purchases in the colonics, but tfre Government plan for taking over the, colonial clip lias upset tnc.se calculations, and they had to buy : wool in London. The offerings of new cup. merinos have been very good and fairly numerous, and spinners and topmakers have • taken advantage of this. _ Once having h(lnd their needs in this nay, they have made an attempt to get further amounts at , less money, with _ the result that values have lost about Id compared with the opening day for the very best wools, and 2d for good and inferior kinds. ’ I GOVERNMENT WOOLS.

As when ive wrote our lost letter so it has been this week. Many lots have been withdrawn daily for those users who are engaged on Government work. The Government is the owner of all the big new clips that have been submitted, and ci course when a mill has intimated that it needed certain lots these have been taken out of the catalogue and sent direct. It is not yet known what price the Government .will charge the mills for such wool. . .. , Both with regard to Australian and New Zealand new clip produce,, tho Government is netting very handsome profits. Anyone who is fortunate enough to have down one side of his catalogue prices which the Government are paying, and write down in the sale room what each lot sells for, cannot fail to be struck with the wide margin between the two. As mentioned last week, however much - growers may disagree with this, it is a plan that has been adopted by those who ought to know more of what is good for the Empire’s welfare than any individual in any part of the trade, and even if distasteful it must bo tolerated. . YVe might, mention that some of tho English farmers this week have had a meeting at which they have, decided to ask that when the Government comes to buy the 1917 home-grown clip prices shall be 50 per cent, above those of 1914 - instead of 35. In addition to this, they have resolved that producers shall be represented on the committee that fixes, prices, wools shall be inspected and valued on the farmer s premises, an independent valuer shall be appointed to arbitrate if the, seller is dissatisfied with the Government values, and wool shall not leave the farmer’s premises until an agreement is arrived at. ■ ■ It is stated here that the Government wool valuers in Australia are obliterating the marks and descriptions put on the bales at the stations and classifying the wool into combing and clothing sorts. Here this is considered to be a mistake, because many mills buy certain clips because of their working properties. Everybody ought to be allowed to choose-their own wool, as hardly two firms make a blend for any purpose iu the same way. The manufacture of toi>s. even, which is only: onequarter of the way to-the manufacture of cloth, is a trade that is no more capable of being standardised than is the whole merino clip' of Australia. ■ Besides, who believes that Queensland wools will work up in exactly the same way as South Eastern South Australian, for example?., . NEW CLIP CROSSBREDS.

In crossbreds, as in botli greasy and scoured merinos* we have to report that values are easier. A few greasy new clips have been offered, but most of them have been withdrawn for Government users. One oc two, however, have sold at/very good prices; and -it is obvious that the New Zealand clip this year is very well-grown and very light in condition. Slipes have maintained their position better than any other sorts, and have sold strongly. Chiefly to manufacturers. Sconreds have been rather irregular, ; but the .best of tlieii'i have not declined -on the l whole so much; as greasy; sorts. In both greasies and stipes the .worst wools show the most decline, and in none of, them.; except slipes do values compare favourably with those ruling, in December. It if> obvious from the catalogues that ,we are at the end of the slips and scoured season, tho selection being nothing like, what it was a month or soi ago. The offerings of greasy crossbreds have been very. light indeed,- but there should be more, nexjs series if shipping is favourable. ■■■ -• It is said that ihe Government intend to hold London, sales as often as pcsso ,as to keep tho ; yrool moving forward to consumers, and v tho next series has been fixed by the Imports Section of ,the Advisory Panel to open on February 13th. _ The arrivals are not yet. known definitely. .... A FEW PRICES. . The best greasy combing merino price is 3s Id for a little speculators’ lot of West Victorian wools. Taking large clips/ Queensland wools have touched 2s lljd. Sydney 3s, Victoria 2s lid. South Australian 2s 5d (though rather dusty). West Australian 2s lOd. Even shped New Zealand merinos have made 3s Ad. In sconreds, Queensland wools have made 4s BJd, as have New Zealand sorts, and even partly 'tender lots have made 4s fid. Medium and inferior sorts have felt the full effect of tho easier market, and it can safely be said that all the rise that' tho December series showed .has been lots, and more besides. In greasy crossbreds, New Zealand balfbreds have touched: 2a -Id, medium sorts :2s OJd, and low classes Is lid, these prices being for the best wools. Sliped halfbred lambs have made 3s, three-qnnrterbreds 2s M, and crossbred combing 2s BJd.

early wool trade embargoes. The writer was passing .the Guildhall the other day. which is quite close to Coleman street Wool Exchange, and thought what a lot o£ history was embodied in that place. Some of it is ■worth while remembering in connection with the woo! trade, especially at a time like this when -the - export and manufacture are being restricted in various ways. In the year 1800, he different manufacturers of this cohntrv wore agitating against the Act of Onion with Ireland, which proposed that the export of English wool should be allowed to that country freely. The chairman of the Woollen Committee in London de sparred of making any effective resistance to the obnoxious clause unless supported bv delegates from tbo different towns which statement resulted rn gentlemen attending the Guildhall Coffee House. The motive by which the manufacturers were actuated was different from that which drives the Government to restrict export to-day. They wished to get the whole trade to themselves and prevent any competition from Ireland or elsewhere. The woollen manufacture of England had always been up to that dav a pampered and State-aided trade. Tt lmd ruined the Irish woollen industry and was childishly afraid that it might find in Ireland a strong competitor if freedom were given. The temper of the industry is well shown bv a meeting held in Rochdale in 1&00 wool merchants, manufacturers and landowners convening together. They

said that increased trade had sent up the price for wool, that present growth was not equal to the need of English mills, and that sending it to Ireland would force lip prices and cause some mills to go out of business. This would be a big loss to mill-owners, to operatives, and to land-owners, their prosperity depending on that of the industry. A subscription was made- to defray expenses, and the whole wool trade of the country was represented in this agitation to fight the prospect of giving free wool ttade of Ireland. The London merchants sent A2OO, Leeds sent d!100 from each of its Cloth Halls and another AIOO from its merchants. Gloucestershire sent A 10(), Halifax Worsted Fund A6O, Wakefield A6O, Bradford ASO, Saddleworth and Huddersfield ASO, Rochdale ASO, Burnoly and Colne A2O, and Keighley Al 5. . • Fifteen years later the manufacturers were again up in arms against the export of home-grown wool to foreign markets. It had been suggested that it should be allowed to the Continent, and manufacturers had a meeting to inform Parliament that Europe was already getting more wool than was good for tho English trade, . and as their machinery was equal to ours and cost of labour a good deal less, they would soon oust British cloths from those countries. The same annlied to America, and the only way to stop it was to refuse to let them have the wool. The market in England for tho raw material was high enough, and there was no need' for any farmer or fellmonger to wish to sell outside this country If manufacturers were ruined a number of people would be thrown out of employment and the value of the land would fall. , . A number of merchants, manufacturers and staplers attended in London for the discussion of the bill in Parliament and a committee for conducting the business in the country was appointed. It is 'interesting to know that at that time the consumption of wool in Rochdale was about IUOO packs (240,000 lb) per week, and every pack employed thirty persons. It is very hard to compare this with what is happening today, though, of course, it is a mere drop, in the bucket against to-day’s consumption. One pack does not afford employment for anything like thirty people*’ if everything is worked out, but seeing that the trade has become so greatly subdivided it is very hard to form an average of what each operative bodies.