OUR YORKSHIRE LETTER.

Otago Witness, Issue 2572, 8 July 1903, Page 7

OUR YORKSHIRE LETTER.

(From Our Special Cohrespondhnt.' LONDON, May 8.

A MAGNIFICENT OPENING. MERINOS RISE GOOD 5 AND CROSSBREDS 15 PER CENT.

It looks as if the wool trade of all Europe were renewing ite youth, and that London in particular had donned a strong, optimistic garb. And why not? Conditions, if they ever counted for anything in determining prioes, should count to-day, for never in the history of the present generation of living wool men was supply and demand so near as they are to-day. Truly, they have "kissed" each other, and friends they really arc. There ia no doubt about there being an absence of available stocks on all markets — the wool is not there, nor likely to be, and because of this fact lively times were looked forward to at the opcaiing of the tlurd series of sake.

For many weeks past all eyes have been fixed upon London, and great expectation formed of what would happen this week. Sometimes it lias been a matter of counting the chickens befo/o they were hatched, of desiring certain things to happen to fulfil a fad of eomebody, but this week it has been a question of business out and out, and good work has been done. The fact of tho matter is everyone realises that the situation to-day cannot be> played with, and with buyers of wool '"all alive"' interest of no mean order has been manifest.

"With one solid voice the order eeems to have bean given for buyers to be ready for a start on the opening day of tho series, for all the London trains that left Bradford and district last Monday were filled with familiar faoes bound for Coleman street. It did not need much knowledge, to discern the feelings which animated everybody, for the verdict had already goneforth that pi ices would be dearer by 5 per cent, to 10 pe-r cent. Under these circumstances all felt that valuations would have to bo increased, or else go without the wool ; but as most had empty warehouses at home, woo-1 had to be bought at one price or another. How to got it was the problem before everyone, but it would have to be solved before we returned.

From tho very start it was evident that a large company had put in an appearance ready for the first day's sale, and everybody expressed a readiness to take wool. Tho first day's catalogue did not pTesent a very attractive appearance- in so far as merinos went; indeed, they were very shabby and poor, but in crossbreds the selection was first-class. Here and there- was a "bumper" clip, and this found Yorksliire buyers particularly busy, and doing their best to get wool. Punctually at 4 o'clock tho sales began, and quite a sezne was witnessed. A hvely timf* took place tho first hour, the Continent being very eager to secure most of the fine wools ; while the honours were divided between tlie home trade and Germany for the crossbred*. From start to finish the greatest enthusiasm prevailed, and hardly p. lot wps withdrawn. Good shafty Australian merinos were eagerly sought by everybody, and a real solid advance was made. The selection bein-g so poor, it was only possible the first might to see an advance* of 5 per cent, to 7£ per cent., but since this has frequently grown into 10 per cent. "With crossbreds a decided bound forward can be. chronicled, fine gradea moving at the opening in sympathy with merinos, and sell'mg well at that. It was, however, left to medium erossbreda to make the hit of the evening, and a rise of 10 per cent, to 15 per cent, was registered. eoarGO qualities advancing 10 pc-r oc-nt South African morino9 moved in pympathy with Australians, it being in order to say "the better the wool the bigeer the advance."

The opening resu-lt-i scenwd to please everybody, pjnd when the «i>le was over a new policy had been defin<xl, or, at least, men. knew definitely where tlvey stood. Stocks being so low and tho offering's co limited, buyers see that they will have to operate quickly, or the chance uiil.br> gone. Continental buyers aro vpry ke^n upon all fine wools, while the home trade is devoting most attention to the cheaper kinds — namely, cros-breds. Am^rioa, too, is on the spot, "alive and kicking." some of the best wool goin^ to th^ir bids. Sinro the opening night a further hardening ban been obfcervable, and 2£ per oent.

to 5 per cent. more, is being paid for merinos.

CLIPS SOLD AND CRITICISMS,

Sold by Messrs Jacomb, Son, and Co., Maj» 5-— Bell over Coldstream : Scoured — 2 bales first combing hail bred 14d, 2 third do crossbred 9d, 4 second pieces halfbred 13Jd, 4 do three-quarterbred 12d, 4 do crossbred B^d', 5 third "do 10id, 4 bellies halfbred 14id, 6 do crossbred 12d, 4 locks crossbred Bid, 4 halfbred crutchings BJd. These were nice, useful wools, and were very creditably scoured. Otairi • Grease — 187 A crossbred 6d, 45 B do 6Jd, 48 Ddo sad,5 a d, 8E do 5Jd, 61 Fdo s£c?, 13 first do pieces sd, 6 second pieces crossbred 4td, 8 locks do 3Jd, 7 lambs do 7d. There was nothing here very smart, the wools being coarse and wasty. Brancepeth over Prince of Wales's feathers: Grease— 1 Down H lOJd, 7 first do crossbred 9d, 25 second do 9d, 18 do O 7Jd, 25 first combing do 7Jd, 40 second do 6Jd, 38 third do 6Jd, 80 cotted do 6d, 11 stained do 6Jd, 9 first pieces do s|d, 3 second do sd. This is a well-known clip, the character of which there can be little doubt about. All these wools were well gTown. Sold by Messrs Dv Croz, Doxat, & Co., May 6:— WS over Beaumont: Grease— l 2 first combing lid, 13 second do lid, 5 first piece* 10 jd, 18 hah bred first combing IIS, 12 do second do lid, 7do lOd These were good woola, and made very good prices

CONDITIONS IN BRADFORD. Bradford for tho moment is a spectator. It is sometimes advisable to look and do nothing, and tins is about the attitude of the premier Yorkshire centre. Bradford looks on as- if some great event were about to happen, and, indeed, the present series of sales ie an event of great importance. Commercially speaking, the very life and death of tho market depends upon the outcome of the gales, and while little fear is felt over tho triumph of prices, Bradford still remains below London. Values aro certainly moving upwards, but consumers her© are far from feeling comfortable, affirming how impossible it is for them to obtain rates equivalent to present cost, not to speak of further moreaeod prices. The price of top* is oertainly being determined by other onteido influences than those of consumption in this centre.

All eyes are now turned upon London, and the doings in Coleman Street Wool Exchange .will be of first consideration for the next few weeks. Bradford, for the time being, seems to be out of tho merino trade, and business in this department is anything but good. Many frames are standing, which does not look liko prices atlvancing. Still, other considerations aro weighing, and supplies being co restricted is evidently dictating what the terms shall bo. Manufacturers of worsted coatings- nro very quiet, while makers of Botany serges find little demamd for the goods, and this is a direct source of weakness in the merino trade. Prices are very firm, and top-makers are asking more in ee-lf-defence, but the turn-over is not by any means what it might be. London's last verdict may now inspire the market and bring out some new business.

Considerably more ie doing in crossbreds, and prices are advancing. Medium eoarso qualities are being pushed, an<! me turn-over ia encouraging. Bradford eeemg to have again got into the swim in handling crossbreds, and fashions are favouring them. English descriptions are firmer, and more, is selling, Irish derai-luetro wools being somewhat scarce. Good Down wools aro wanted, but prices are being pushed -in tho country beyond rates in this market.