OUR YORKSHIRE LETTER.

Otago Witness, Issue 3016, 3 January 1912, Page 17

OUR YORKSHIRE LETTER.

(Feom Odk Special Correspondent.) BRADFORD, November 16. CHINA AS A BUYER OF WOOL. The West Riding is intimately connected with the outside world, for many of its manufactured goods are distributed throughout every country. Notwithstanding high and cruel tariffs, Yorkshire manufacturers arc able to produce woollen and worsted fabrics, including tops and yarns, which are largely taken by other countries. Although our export trade in fully manufactured goods is perhaps hardly up to the high standard that it once was, still, when the figures for semi-manufactured articles are added, the aggregate total is greater than ever. Some grumble at the decline which has taken place in our export of fully-made textiles, but when one goes through the towns and villages of the West Riding there is no evidence whatever of retrogression. If a map of the West Riding of Yorkshire is taken, and the point of a pair of compasses put on Bradford, it will be found that every town and village within a radius of 20 miles will be enjoying a prosperous time. These thoughts are suggested by the present Standing of the raw material in oversea markets, but more particularly by the social revolution in China. Considering the present trouble in the Far East, and the great struggle that is taking place in order to smash up old systems, it is surprising what little attention has been given to the textile trade that Great Britain is doing with fhe Celestial Empire During the past few days 1 have been trying to realise what it would mean to the woollen and worsted trades if the teeming millions of China adopted Western ideas and methods of dress. It does not need the wisdom of a Solomon to also see what an important bearing it would have upon the wool supplies of Australia by causing higher values, and I am certain that before very many years a great change in this direction will take place. Of course, China has been one of Lancashire’s best customers in the past for its cotton manufactures. As civilisation spreads and European ideas and methods of dre&s become more generally adopted, a transformation will come over the Chinese, and they will buy more of those fabrics into which wool enters. THE TRADE DOING.

It. .is always well to give the reader ,an intelligent idea of the actual trade doing between two countries that are being spoken about. From the official returns of the Annual Statement of the United Kingdom, I show below the exports* both of cotton yarn and piece goods sent from the United Kingdom to China during recent years:

It will be seen from the above that in regard to the woollen and worsted piece goods exported, last year’s figures are the largest since 1908. They are, however, nothing near as important as 1906, when 16,732,400 yards were exported, while in 1907 no lefts than 17,654‘,CC0 yards were sent to China. Of course, trade varies considerably with foreign markets each year, and at times factors are in operation which greatly influence the placing of orders for certain classes of fabrics, the demand for which varies according to fashions, etc- However, there is among travellers representing English houses a unanimous opinion that China is a coming country for absorbing woollen and worsted fabrics Although many years must inevitably elapse before China becomes an important competitor at Australian selling centres, it is well to remember the surprising influence of education, as witnessed in Japan. Blankets and fabrics for the Chinese troops are being mostly made at. home, and I am certain that just as cotton manufacture is growing in the Far East, so before long woollen and worsted mills will lie established in China itself. It needs no long stretch of the imagination to see that as soon as the Chinese nation begins to wear woollen and worsted fabrics a great difference will bo made in the wool world. Also, their winters are cold, and something heavier than cotton is certainly required to keep the human body x warm. THE TRADE OF THE WEST RIDING. There is really nothing very new or (startling to say in regard to the woo! situation. Perhaps the best thing I can say this week is that business generally at the mill end of the trade is better. This is due entirely to the placing of new orders for yarns and pieces. Having recently had the privilege of going through some important districts in the West Ridring. I am glad to note that in most cases mills are well employed, and that some arc working overtime. Fine worsted manufacturers in Huddersfield are undoubtedly the worst off of any section, hut although there arc some looms standing, and only ordinary time being wcxked in the majority of casesi, there is nothing serious yet, to. complain about. I should like things better if some of the biggest and Ix-st firms in Huddersfield were fully employed, but weavers are having to play a few da vs in several cases when they “fell out.” At the same time, if we go through the heavy woollen district, say around Dewsbury and Bailey, then on to Leeds, Pudsev. Ptnnningley. Parsley, Calverlev. Tendon. Binglev. and Keighley, there is little cause for complaint, while

Bradford combers and spinners have fully as much as they can do. It is here, too, ■where we find standing looms. Worsted dress goods manufacturers and worsted coating manufacturers are quiet. Still, what concerns us most is the consumption of the raw material, and it does indeed seem strange that combers and spinners should keep running full time when coating and dress good manufacturers are quieter in Bradford and Huddersfield. Some are strongly of the opinion that Cheviot tweeds are going to have a run, and there are certainly very strong indications to that effect. If one looks over the bunches of tailors’ patterns for the present season, medium and fine crossbred fabrics predominate, I hear from the best sources that for the autumn and vinter of 1912 Scotch tweeds, which, of course, are also largely made in the West Riding, have been taken up by the wholesale trade more than ever. It is certainly a. little surprising where all the fine coating yarns are going, but it must be borne in mind that, as I have explained in past letters, worsted yarns are to-day being consumed in the woollen trade in the production of such useful fabrics as rainproofs. mantles, worsted serges, and the like. Here, undoubtedly, we have the explanation why fine Botany spinners continue to bo busy. Of course, prices have been sensibly shaded during the past six weeks in order to induce new business, and it is well known that “margins” are nothing near so good as they were earlier in the year. MERINOS VERY FIRM. Bradford continues to bo dominated with the news from Australia, an<i several cables have come to hand this week which clearly indicate very firm markets. To be very candid, prices are not going, in either Sydney, Melbourne, or Adelaide, as Bradford buyers would like to see, their hand being forced too much by the Continent. It was hoped that when big weights of wool would ho offered in the middle of November fo the middle of December there would be an ease in values, but prices are tending in I lie opposite direction. The ears of the trade were tingling last Monday on Bradford Exchange, when the Yorkshire Observer issued a cable from its Sydney correspondent stating that opinners’ 70’s fops would cost 50d; 64’s, 2?d; and 60’s. 2£4d. This was conidered a little “balmy” by everyone, and a good deal of ridicule was poured upon it. The reader can easily understand this when there were buying brokers quite ready to accept orders on a basis of 25id for Bradford 64’s tops, and the most remarkable thing of all was the fact that there were im porting topmakers quite prepared to sell forward for February delivery at 25d. Of course the news had the effect of putting a little bit more backbone info several firms, and prices were therefore quoted as firm and steady. At the same time, it is quite easy to buy for next year delivery at 25Ad, and I think a fraction loss would be taken for February, March, and April delivery. There obtains throughout the West Riding a strong opinion that values will yet go back to a 24id basis, and the general inclination is to let the Continent continue to absorb supplies, for when they have had their fill, Bradford will have a look in at values more in harmony with the ideas of users- at this end. There is a nice steady trade doing for spot deli very, and for a very good top 25 Jd has been made, but this is not general. I understand that in more quarters than one (here is a disposition to clear out at a farthing less, and so got ready for lifting the new clip when it arrives. Noils are just about where they have been for months back. A steady trade continues to

bo done, but at prices which do not show any advance, and this article is certainly cheap for anyone who can use it. If values were a penny higher it wou 1 d make a big difference to topinakers, and it is surprising that they can sell good fine tops as reasonably as they are doing There is no change in crossbreds until news conies to hand from Christchurch informing topinakers regarding the future of prices. If is generally believed that values will not fall to the level of Bradford.

Value. Quantities. 1910. 1906. 1909. 1910. 1908. 1909. £ £ £ Cotton yarns (lbs) .. 5,538.400 4,472,000 752,200 250,280 168,452 43,910 Cotton piece goods (yards) 198,292,000 572,443,000 471.334,800 7,265,955 7,313,945 7,270,199 Woollen and worsted 25,037 32,797 29.432 yarn (lbs) 274,200 395,100 289,000 Woollen and worsted 532,369 531,756 617,870 piece goods (yards) 9,529,600 9,676,909 10,418.300 Other than piece goods (yards) — — - 65,067 86,364 114.206