OUR YORKSHIRE LETTER.

Otago Witness, Issue 3869, 8 May 1928, Page 13

OUR YORKSHIRE LETTER.

ARTIFICIAL SILK VERSUS WOOL. (From Our Special Correspondent.) BRADFORD, March 1. As much is being heard nowadays about artificial silk as about either wool or cotton. Hardly a week passes but what a new company is promoted for its manufacture, and shares are being largely dealt in daily. All the firms engaged in the industry are limited companies. Some are asking for a million sterling that have not yet installed a single machine, and the prospectuses read as if they are going to coin money just the same as Courtaulds. This firm has published its annual balance sheet, and the ‘’shareholders will receive, in addition to 25 per cent, interest, 100 per cent, bonus shares. No doubt Courtaulds have enjoyed phenomenal success; but others are unable to pay a dividend. I raised the question some weeks ago whether artificial silk was competing with cotton more than wool. In the opinion of many engaged in wool manufacture, artificial silk has prevented ■wool from becoming excessively dear. If ladies had continued to wear wool hose it would have made a tremendous difference to Bradford. West Riding botany spinners have suffered a loss of at least 33 per cent, in their output of botany yarns, simply because the womenfolk of the world are wearing silk hose instead of wool. My own view is, however, that the competition between artificial silk and wool is not serious. Artificial silk cannot stand. hard wear, and does not drape anything like .so .gracefully as a wool fabric. _ It is being used to-day for decorative purposes in many articles. Its brilliant colours (when dyed) appeal to the public. Hence its extensive use in stockings, blouses, and furnishings. The opinion in Lancashire is that artificial silk has done more harm to the cotton trade than to the West Riding woollen and worsted industries. Like cotton, artificial silk is a vegetable fibre; but the former is more suitable for many fabrics used for domestic purposes, because it will stand hard wear better. At the same time less cotton is used, even mercerised cotton yarns having been displaced by artificial silk yarns. Lancashire cotton manufacturers have turned to the production of artificial silk fabrics, and on account of weavers being allowed to mind four looms, against two in Bradford, a good deal of fabric weaving is being done. I do not see how artificial silk yarns can seriously compete against colonial wools. To-day the textile world is demanding a bigger supply of the latter, and it should be the aim of pastoralists to grow as much wool as ever, for it will all meet with a good market. The only further thing that need be said about artificial silk is that when all the new works now being erected begin to turn out yarn it will be impossible for present prices to be maintained, and as a tremendous amount of capital will be involved it scarcely seems likely that the shareholders will receive such big dividends. The latter is, of course, of no direct interest to the wool trade, but the reduction in the price of silk yarn will help to bring it into still keener' competition with both wool and cotton. At the same time; I maintain the original proposition that wool will hold its own in the textile manufacturing wrld.e ;j

WHY MERINOS ARE IN DEMAND

The opinion has been expressed in Bradford. that for the time being -wool i allies, have reached a level beyond which they are not likely to go much further, a feature which is most desirable from the users' point of view. This statement is made because I recognise that certain possibilities.lie in front of the trade for the .next three or four months, though 1 would not he prepared to give' it too emphatic a backing. Some are already talking about another advance in London, though if it comes about things will be all the more difficult for spinners /and manufacturers. Meanwhile the ’ wool grown in the colonies is being quickly transferred to consuming centres, and no scarcity can be felt in those places till the middle of the year, whilst the weight which is having to be handled represents a fairly substantial financial burden. The banks have provided every facility for importing the wool, but they like bills of lading to be released with all possible speed, and the majority of firms are now confronted with heavy drafts. Bradford importers would have welcomed the arrival of twice the weight that is now coming to hand, for a good deal of wool might have beep bought before the Christmas holidays. The majority of buyers missed their way in not operating heavily during the fortnight in December when prices were easing, but they were hoping to see a still further decline at the beginning of the second half of the selling season. I could never see any real justification. for the slight decline that «bok place in the middle of December, and still believe that it was largely artificial, tops having been sold forward at such pricey as were not justified by the then known cost of wool, <and at figures which' were below the possible cost in the near future. The position simply was that the

majority of buyers withdrew their support because the end of the year was approaching, and stock-taking was general. They naturally wished to show as good a balance sheet as possible. These always influence the bankers, this being recognised by French and German as well as home trade firms. THE MOST FAVOURED WOOLS. One rather interesting feature of the industry which lias perhaps not been generally recognised, is that medium merinos are very popular qualities. Wools of sG’s to G4’s quality are most in demand.’ Topmakers have complained for many months that 70’s tops were not moving as freely as they might, one result being that several 'are giving excellent deliveries so far as quality is concerned. To a very large extent topmakers are in the hands of growers, and perhaps still more subject to the vagaries oi the seasons. It does not often happen that the Australian and South African merino clips are grown under climatic conditions which show much similarity, but the partial drought experienced during the season in both countries has resulted in very, fine quality wool. Clips which are usually expected to be ordinary 64 s are this season around 70’s—certainly super 64’s,—a good many deliveries of tops being on the fine side. In consequence of this piece goods merchants are receiving cloth from the manufacturers which is of much better handle than last year, although supposed to be exactly the same class of goods. Wholesale fabric buyers appreciate this, and I anticipate that the next Australian clip will not be so fine as the current one, so much rain having fallen in Australia since last December. Adequate feed and water are now assured right up to next shearing. The clip will be very well grown, more after the style of 1926-27, as well as the year before. I do not desire to suggest a difficulty in the future under this , for if wool is sound and shafty it always turns out well in the piece. The great thing is the continuance of good trade by the 'absorption of fabrics and hosiery in big quantities by the general public. Another aspect of this subject is that fabrics made from merino wool of longer and stronger staple does not come up as well in the finishing processes. The very nature of the fibre is against the soft handle being brought out. . This is one reason why so much has been heard during the past two or three years about the depreciation in the quality of Australian wool. This year finishers state that pieces are coining up well, and they are finding no difficulty whatever in satisfying manufacturers; Formerly highly finished face cloths were very popular. The writer can recall the days of the super-finished black cloths, as they were called. These were all made from 80's to 100’s quality, the finishing being very important, and the same finish could not be obtained to-day unless the .same quality of wool was used. These 80’s to 100’s are, however, so scarce that they have come to be called specialties.

(For continuation of Farm and Station see page 19.)