WOOL MANUFACTURE

New Zealand Times, Volume XLVII, Issue 10964, 28 July 1921, Page 5

WOOL MANUFACTURE

WHERE GERMANY HOLDS THE ADVANTAGE. Australian and N.Z. Cable Association. LONDON, July 26. The “Yorkshire Observer,’” an commenting on a report from Berlin to the eifeet that German textile companies are enjoying the greatest .boom in their history, the mills having sold the whole of their output to December, and some are refusing orders for 1922, points out that when Yorkshire was manufacturing wool was growing ever dearer; but the 'Germans were then undergoing a compulsory regime of economy, forcing them to use up war-time substitute materials, thus preverMpng the piling-up of stocks of textiles bought at boom values. Fortunately for the Germans, they Iliad not a Government monopolising the purchase of the wool clips, aim making a total profit of £71,000000 thereon, as Britain had. The British Government monopoly prevented Germany buying wool during the post-war iboam prices. Now she is reaping the advantage, filling her warehouses with the cheapest' wool since 1914, which Yorkshire, owing to losses on the ! boom-priced stocks, the coal strike, and general depression, was unable to buy. 'Germany had access to cheap free wools. But if wool should continue to fall, and Bradford have an opportunity of replenishing stocks at prices comparing favourably with the Continent’s recent purchases, then “Bawra,” aided by the Australian panic legislation, will aay this must not be allowed. In the meantime, Mr Hughes is stated to be attempting to engineer the removal of “Bawra” wool altogether from the market, which would be ano ther magnificent event for Germany, H radford 'being hit from all directions.