OUR. YORKSHIRE LETTER.

Otago Witness, Issue 3755, 2 March 1926, Page 13

OUR. YORKSHIRE LETTER.

CLOSING DAYS IN COLEMAN STREET. (From Oub Special Correspondent.) BRADFORD, December 24. Buyers ore now all bock in consuming centres, and much discussion has centred around the closing days of the recent auctions io Coleman Street. The last

three days came as a surprise to the majority. It was largely due to the two very cheap nights in the third week that many Bradford buyers went back to Coleman Street in the expectation of picking up some cheap wool. We might say frankly that the closing three (lays of the third week saw prices ruliug for crossbreds that were as low as the cheap Napier sale, and it was some wool on that basis which everybody were out to buy. One could see from the Monday night’s auction that a big Bradford contingent had returned, that a different spirit was in the saleroom, and, competition being keener, led to somewhat tinner prices being bid. Tuesday’s sale gained in strength, crossbred wool being id to Id higher than the previous Friday’s sale. Then the elosiug sale of all found buyers still in an operating mood, and, taking things altogether, the auctions closed in a very encouraging way. What surprises us most is the big quantity absorbed by the Continental trade, and even the American purchases are put down at a bigger figure than the majority expected to see. The home trade bought steadily, and was the mainstay of the crossbred section, also picking up some nice weights of merinos. The following shows the quantities of wool absorbed by the different sections of the trade, and that wool has been carried forward at the finish of each series: DISTRIBUTION OF COLONIAL WOOLS. ContiHome ncntal American Carried

A very important sale took place at Adelaide last Friday, when 26,000 bales were offered, only about 1500 bales being withdrawn. Possibly a fair proportion of these would be disposed of at the close of the sale. This is usually regarded as Bradford wool, very well suited for topmaking purposes, the bulk being 64’s quality, while some super 60 s can also be got out of this sale. Private cables say that good warp 64 s tops will cost 4s Id, average 64’s 3s lOd, shafty 60’s 3s 7d, and 6 ’s ordinary 3s 4d, this giving readers some idea of the standard of values ruling. We call these prices very reasonable, particularly for average 64’s. Anything under 4s that will spin up to 2-32’s (that is, good coating and serge yarns) is all right, and will find plenty of support at the hands of Bradford topniakers. Looking down the list of marks offered, we can see that they were really great. Nalpa heads the list of the clips sold by Elder, Smith, and Co. (Ltd.), this being a noted stud clip, full of strength and character, but not the finest. However, it must have been in good condition, for the top line to touch 23£d. This clip was closely followed by - Hawker/North Bungaree at 2l£d. Here we have perhaps the best known clip of any, being a portion of the old Bungaree clip, which on the death of Mr G. C. Hawker was then divided, and the station split Aip between four sons. There has been a further subdivision of part of this property some two months ago, a further 9000 acres having been cut up into small farms, much to the regret of wool buyers. The biggest clip catalogued at Adelaide was Boltana, situated in the extreme north of South Australia. This is a very well-known property, and the wool is essentially of Continental style. The clip is always of quality, usually super 64’s to 66 s, but is red and very wasty. This is entirely due to the country. It cannot have been in very good condition, for the fleece only averaged 14d. However, other outstanding clips were M'Farlane/Brinldey (22.}d), Woolcunda (22d), and Kolendo We think that this will be the lowest point which is seen this season for Adelaide wools. NEW ZEALAND AUCTIONS. The final sale before the Christmas recess took place on Saturday at Dunedin when 14,000 bales were catalogued. Both at Timaru and the capital of Otago saw good competition with \ .lues against the buyer. Here it would seem as if values for crossbreds have touched the lowest point, and one feels that there is safety in buying crossbreds. Prices cannot decline further, for Bradford is in a buying humour, and at current values we certainly think there is trade to be done. Both at Timaru and Dunedin some very good wools are always available, particularly of the finer qualities. The wools of the South Island usually handle somewhat softer than those grown in the North, besides being of higher counts. At Dunedin there is always catalogued some good sound halfbreds —wools that arc usually well grown, and- anyone wanting 50’s to 56’s, they are available there. The climate of Otago and Canterbury is splendid for the production of fine-haired, soft-handling wools, and there should have been a good deal of hogget wool available at Dunedin. Bradford appears to be well satisfied with what has taken place in New Zealand, and big weights of wool have been purchased during the last month, both in New Zealand as well as Buenos Aires. This is all due to values being so reasonable. New Zealand pastoralists this year arc having to accept all round Is per lb less for grease wools than a year ago, and it is bound to make a big difference to the returns. A New Zealand bale will average 3301 b, which at Is works out at £l6 10s per bale. We are certain that on average New . Zealand wool growers will be receiving this season, compared with values during November-December a year ago, an average of £ls per bale less, and when a grower is turning out a few hundred bales it makes a big difference in the cheque received for the clip. However, last season pastoralists got far more for their wool than circumstances ever justified, and the trade as a whole has had to pay very dearly for the foolish experiment indulged in 12 months ago. It seems a case to-day of the pendulum

having swung to the other ext rent ‘, and we certainly think that what is being bought to-day abroad will be l ight when the wool arrives on this side. THK WORSTED INQUIRY. After sitting for 14 days, the Board of Trade Commission, which has b-eu inquiring into the application ot the West Riding worsted manufacturers for a duty on imported woollen and worsted fabrics, concluded its proceedings last Friday. Considerable opposition has been evinced to the proposed placing of an import duty of 33 1-3 per cent, on Continental-made fabrics. The chief witness has been Mr H. H. Spencer, late M.P. for South Bradford, who is engaged in the trade as a piece merchant and exporter. He has made out a very good case why import duties should not be imposed, while manufacturers have presented reasons for French dress goods in particular being taxed in order to annul certain direct advantages which they are obtaining on account of a depreciated currency, longer working hours, and distinctly less wages paid than obtains in the West Riding. Of course, all the merchants and export houses in London, Manchester, and Bradford are opposed to any such duties being placed on French fabrics, simply because they can resell as British-made goods in the markets of the world, thus creating business and stimulating British overseas trade. There is much to be said both for and against these duties. All that Bradford manufacturers are asking for is to be placed under conditions which will enable them to produce goods at a price where they can compete with the foreigner. That is impossible as things are to-day. We should say that on average we are paying in Bradford something like 40 per cent, more in wages than is being paid in France, and this alone will enable French manufacturers to produce fabrics more cheaply. Then there are all the advantages to be obtained from a greatly depreciated currency; consequently Bradford is only seeking really co-efficient duties to annul all these untoward and unfair advantages which today are being reaped by Roubaix-Tour-coing manufacturers. However, the evidence lias been given both for and against, and the whole trade must now w r ait a considerable time before the committee can complete its report.

Purchases. ] Purchases. Purchases. , Forward. Bale*. Bales. Bales. Bales. 1st Series 39,000 34,000 1,000 46,000 2nd Series 27,000 23,000 1,000 60,000 3rd Series 18,000 21,000 1,000 105,000 4th Series 41,000 72,000 2,000 84,000 5th Series 65,000 109,000 7,000 60,000 6th Scries 59,500 73,500 5,000 35,000 249,500 335,500 17,000 390,000 ADELAIDE SALE.