OUR YORKSHIRE LETTER. (From Our Own Correspondent.)

Otago Witness, Issue 2571, 24 June 1903, Page 8

OUR YORKSHIRE LETTER. (From Our Own Correspondent.)

BRADFORD, April 2%. THE "WOOL TRADE IN 1825 AND 1903. If the wool trade of the past hundred years could speak, what a revelation we should have. Talk about the seven wonders of the world with all their charm and historic significance — why, to readers of this letter Babylon and its environments would fall into insignificance, and its glories would fade completely away when compared to the wonifert connected with the wool trade of the past century. Sinoa we can tell a great .ransformation has taken place, and during the past 35 years the wool trade of either Bradford or London has been turned inside out. The day was when a serio3 of London sales lasted from one day to one week, and ivten a series began to last a full week, some thought more wool was coming: to liand than th© trade could bft. Then tlis daily offerings comprised a few hundred bales, and if a thousand bales were on offer, it was looked upon as a big ohing, and almost sufficient to break the bank. How changed are conditions to-day; in fact, th&y are so changed as to cause as much surprise over their greatness as they did 50 years ago over their emallness. The wool trade is one of those- examples of a great event growing out of a very little beginning. , Wool has a nistory, unique, interesting, I and peculiar. . Many of us are aware of its usefulness; few know of its exceedingly remarkable environments from its earliest period to the present day. In the year 1825 the London wool ealea were held in Garraway's Coffee. House. Chrnge Alley, Cornlull, and each <hiy's sale continued for about an hour. Below we show a catalogue of that date, and to wool growers as well as sellers and users, it is well worth preserving for comparison with those of today. We give the particulars just as they appeared on the frenfc page in 1825, the items being as follows : — FOE SALE BY THE CANDLE. At G»rraw*y's Coffee House, Change Alley, Cornhill. On "Wednesday, Octobei 19th, 1825, at 12 for 1" >'clock precisely, the "following goods: 120 bags Australian wool 83 bags German wool 57 bags Spanish wool 27 bags Cape wool i 16 bags Dutch wool 17 mats German and Spanish wool. 320 ... CONDITIONS OF SALE. The- highest biddeT to be the purchrsar, and if any dispute arise between tho b.dders for any lot it shall be put up again. The buyers to pay the broker one shilling per lot to bind ihe bargain, and a deposit of 25 per cent, if called upon. The goods to be weighed off immediate'y ifter the sale, and taken away within fourteen days from the dny of sale, with all faults and defects whatevci, and to bo paid for on or before delivery an cash. And if any lot or lota remain urcleared after tho expiration of the said fourteen days, the deposit shall bo abso'utely forfeited, and it shall be at the option of the broker to resell them by public sale or private contract, and all losses, charges, interest of money, or any other damage whatever that may accrue ip the ' same shall be made good by tho first purchaser, (jr. in default thereof, he wi'l be Liable tc bo sued for not performing b.s contract. J. T. SIMES & CO., Brokers, 58 Coleman street. Contrast the above catalogue with one to-day. Now wb find the sale commences at ♦ o'clock, and in place of a total of 320 bales, to-day one sale is responsible for the [ disposal of 1300. It is exceedingly inte1 resting to remark that in 1806 the first eliip- ' men* of wool to England weighed 2451b ; last year we imported 678,333,0001b, and in ; 1901, 716,382.0001b. WOOL VALUES RISING. Slowly but surely tho comrr.ercial barometer of Bradford's wool trade is rising, and a deoidedly "bull" sentiment prevails. I do not think, or even say, that we are on the I eve of a boom ; far from it, but at the same time there is no one but what anticipates

a further rise and a better trade before long. The general opinion seems to be that all the wool that -will come into the London market will be wanted, and after mext series we can easily see a squeeze. There is not a great deal doing among topmakers with epinners, simply because the majority are not sellers, and holders are wantimg more than they did before the holidays. And even yet prices in Wor3fcedopolia are below London for colonial wools, and below country rates for domestic sorts, henoa there is not a great deal over which to shout. Bradford can do with prices moving up a penny in merinos, and a full ha'penny in erossbred3 before it can be paid that values are on a par with other markets, and this must come before business can be described as satisfactory.

One improved feature is a better trade done by spinners with yarn shippers, and more inquiry on home account. Here and there a spinner cays he has work in hand for tne next thrso months, and this has compelled a. certain, amount of covering either in tops or wool. The latter article is partioularly good to cell, showing a scarcity a-nd a call for something to comb. Commission wooleombcrs are very quiet, and likely to be, while now all hone is completely abandoned respecting swing the Woolcombers' Associaticn. While merinos are ha T dening. o-ossbreds are getting stronger. and the f«-ling is general that these will be dearer next series in London. Consumption is aU in their favour, came heavy weights being put out of ei?ht. Home-jrrown wools remain quiet, dealers ref mining from op r rating :ra view of tb^ coming olio. Ijincoln hoars are not worth 7tL bufc Ir'sh heRS arc hoMine th^'r ova owin<r to thf^r <-ca.reiH" *"nd noDula.r favour. E"srlisH sto-ks ft'-e IMi'<t t^an t-Vcr have bren for years, a.nd Uiis is imparting some confideno3 to the trade.