ENGLISH WOOL LETTER.

Poverty Bay Herald, Volume XLI, Issue 13290, 28 January 1914, Page 7

ENGLISH WOOL LETTER.

SAILING VESSELS VERSUS STEAMSHIPS.

(From our Special Correspondent.) BRADFORD, Dec. 19. The business of Bradford consists largely m purchasing wool, and making from it every conceivable article for human wear. This has frequently drawn out thc fa-cetious remark that Bradford has all its eggs m one, basket, and to a very large extent that is correct. Tho pity is that it should be so, for when the avool trade is slack everything else suffers accordingly. It has been knoAvn for Aveeks, if not for montlis, that avool sorters and commission aa t ool combers Avere m a parlous state, and this Aveek it has been officially annoumced that no less than 5000 operatives are idle m the city of Bradford. This is a fact that should call forth the sympathy of everyone interested m the" trade at the producing end. It may seem a small thing to Australian avool growers, but its effects havo been so very far-reaching, and to it is directly traceable the fall which has taken place m aaool values* at every selling centre "down under" since the opening of the season at the beginning of October. If the home trade had been anything like as good as it was 12 months ago, avool values would neve_: havo fallen m the least, but the declines Avhich have occurred oavo their cause to the general decline m the home avool ana textile industry, of which so much has been heard during the past three months. There is &lA\ r ays satisfaction m recording brisk, business, but during the past three months, week after week it lias been our duty to chronicle slack markets, falling prices and short time being run by dozens of niiils situatedin Bradford and district. THE REAL STANDING OF WOOL. The position of the raAv: material itself shows a slight amelioration compared Avith recent weeks, although this verdict is not acceptable to all. Thursday's market m Bradford was fairly largely attended, but the note sounded respecting the course of traUe was anything but unanimous. -C^. the other hand ther© Avere several parties who asserted that things Avere neither better nor worse, while others affirmed that more sales of tops and yarns had been placed, a vieAV Avhich we "agree Avith. A close canvas of the market showed tliat more business had actually been effected, although no more money has been forthcoming. It has been a case of importing topmakers being: Avilling to sell at recent rates, although one of the biggest firms lias taken the bull by the horns and put up their quotations from 2s 3d to 2s 3_d, though as to making such figures, it cannot be done at present. Still, the circumstance indicates which way the wind i^ blowing. Their action has been brought about by the cables from their buyers m Sydney andy Melbourne, who candidly state that they must have limits higher by a penny if they are to bury lreely. One of tho best firms informed the writer that last week they secured 1000 bales on a basis of 2s 3d for their super 60's, but to-day their buyer wants an increased limit, and under tlie circumstances they ar© unwilling sellers at less than 2s 3_d. Of course, such quotations have brought business to a standstill straight aAvay, and it is too much to say that more than 2s 3d is an average price for average 64's tops. At the same time there havo "been more sales of tops, and any increase of business is chietly m merinos. We cannot resist saying that there is evidence that a basis for operations has at last been arrived at, and taking things on the whole avo certainly think that the outlook is more favorable than it Avas a good week ago. j-A_UALi&l&_t THE WOOL SUPPLY. I This is a topic Avliich is probably of greater importance to the wool buyer man. tho producer, for tho only immediate concern of the latter is to get it off his hands as soon as ho can at tho best price possible. Even where money i s not immediately required, the. knowledge tliat the raw material < does not improve by keeping, encourages the producer to dispose ot it by _eumg as , quickly as possible at its higher market value. Now that is all very proper and commendable, but it has its drawbucks Avhen carried to extremes, or Avhen the quantity of material dealt witii m expeditious fashion is exceedingly large, as is actually becoming more and more the case. It is not necessary to tell colonial growers that practically the Avhoie of their year's clip is marketed m the short space of four or live months, but perhaps they Aviil not so readily grasp the thought that this fact brings incoliA'enience to the consuming end of the trade, and that this inconvenience is mado greater by the quick means of transit which are now m vogue. ISo far as the conveyance of avool from Australia to England is concerned, the introduction of steam vessels has not proved to be an unmixed blessing. Fast of all there is the matter of Avarehpuses. The greater the quantity of avool the more room is needed, and the more inadequate the available space th© more inconvenience and loss is caused. We frequently hear when wool is coming into Bradford that rail; way stations are full to overiloAving Avith bales of avool, and the lack ot room on their OAvn premises means that topmakers and other users must pay heavy Avarehouse charges. Then there is . the question of finance. Wool has to be paid for, but if considerably more is coming on to the market than, users want immediately, and yet there is a prospect of a long Avait before further supplies are available, the firm must be m a very good position if it can "fork out" enough mohey to cover all its prospective needs, land even then there is the risk of falling markets involving serious Joss. The practical solution of the problem Avas discussed tliis Aveek at a meeting of the avool trade section of the Bradiord Chamber of Commerce, and that meeting Avas addressed by a magnate of the London shipping Avofld, Mr Thomas T. Devitt, tlie chairman of Lloyds and the Orient Shipping Company, who also spoke before the trade at a subsequent meeting of the British Wool Buyers' Association. The proposal is to reinstate the old-time sailing vessel, and so prevent wool pouring rapidly into consuming centres, and also ,give a little financial relief. The British raihvay companies have combined and are insisting upon charging double what they did for Ayarehousing wool, but the Great Central Railway Company have opened a neAv dock at" Grimsoy, and JI#YP agreed tp charge 3d per ton, which i» kss than half tfie sum paid to the raihvay companies m Bradford and district. The proposal has met >vith the hearty support of the trade, and there is, a fair prospect of sailing A'essels bringing home reasonable proportions of tbe Australasian clip. j IS TftADE: ftjaAfcfcY RAD? ''Those who were present last Tuesday at the annual dinner of the British Wool Buyers' Association were frequently reminded pf ■ the great change that has come over the Bradtord trade. . At the same, tini© a fairly optimistic feeling Avas expressed by practically all the speakers. No doubt Bradford to a large extent has missed the 'bus this year, particularly on the sid© < of .its dress goods trade. Still, there is every reason for saying that it will not long remain out of the running. The dress goods fashionable fpr the coming season are «foipg to bp largely pf a, olothy nature, and one reason Avhy the demand is no keen for pieces, bellies, and looks is because of the thicker yarns which are being mule spun, and which are entoying into the make up of these full handling dress goods.

colonial sheepskins owing to the scarcity of Home skins. When -compaired Avith the prices current at the last series, held on October 30, the following changes Avere seen : — Australian. — Merino, full Avoolled, _d per lb cheaper, current price B^d-9_d ; do., half and three-quarter woolled, _d cheaper — 7d-Bj|d ; do., quarter woolled. _d cheaper — s_d-6|d ; do., pelts, par — 4|d-s_d. Fine crossbred, full Avoolled, _d to |d per lb cheaper — 9d-9^d ; do., short woolled, -Jd cheaper — 7d-B_d ; medium do., full woolled, _d- to fd lb cheaper — B_d-9d; coarse do., full Avoolled, _d to |d cheaper — Bd-B_d ; coarse do., short woolled, cheaper — 7d-8d; pelts do., par — 6_d-7_d. New Zealand. — Fine crossbred, full woolled, _d to |d per lb cheaper, current price 9_d-10£d ; do., half and threequarter woolled, _d cheaper — B_d-9£d ; do., quarter woolled, id cheaper — 7_d--B_d; d 0.,, three-quarter woolled, _d'to |d cheaper— B|d-9d ; do., 'half Avoolled, £d cheaper — Bd-B_d ; coarse d 0... half and three-quarter Avoolled, _d cheaper — B_d-9d ; pelts do., par— 7^d-B_d.