THE OUTLOOK.

Otago Witness, Issue 2861, 13 January 1909, Page 8

THE OUTLOOK.

i y a new and interesting situation, the de- > ' velopment of v.hich is far from bsing I clearly "defined. The distinct revival in the States has been the 2hief contributor to the ! improvement in the various markets. It has com© at a moment when consumers were lightly stocked, and in the attempt to cover eaxly requirements and to make new . business a spurt in 'values hag resulted, which has been 6O sudden and acute that it naturally causes gome misgivings. "The home trade, unfortunately, is not yet able to give a strong support to the i advanced prices. The commerce of the whola country is under a cloud, and ypo 1 | appear to be in a less satisfactory position [ I than-'our Continental neighbours. 1 j "The movement has affected combing 1 6orts principally up to now, clothing wools [ Btili being plentiful and slow of sale. 1 ZTloreover, it has to be borne in mind in ' regard to the heavy advance in the prices * of tops in Bradford that Yorkshire values for tops had for some time been decidedly I below the London values for the raw ' material. ' I "The main fact that deserves consideration is that, notwithstanding the sladk ' markets of this year, the favour shown to worsted fabrics has been such that worsted . machinery is again hungry for the new clip combing wool*. This is a significant and hopeful sign. It is also reasonable to suppose that, after the shrinkage in business in other classes of goods during the past 12 months, there should be chances of improvement and of making up some leeway during the coming year. "Meanwhile there is danger lest the sharp advance, made at a time when the homo markets are somewhat bare, should go further than can be sustained. The business which is being done in yarns is only negotiable at prices below the quotations of the past 10 days. The good supply of combing merinos which is available for the present series should tend to steady, and so to establish, values. "Crossbreds, however, are likely to " be in small compass, and can only be augmented by early arrivals from South America prior to the January sales."