OUR ENGLISH WOOL LETTER.

Poverty Bay Herald, Volume XLIII, Issue 14049, 20 July 1916, Page 7

OUR ENGLISH WOOL LETTER.

FINE CROSSBREDS DEARER. (From Ootir Special Correspondent.) LONDON, June 1. There seemed to be no real reason, previous to the opening sale on Tuesday afternoon, why any marked advance should be registered in merino wools. It is well known that many of Bradford's largest topmakers have been extremely slow sellers during the past month or more, even though the price of four shillings has been offered for 64's tops. Tlie feeling is general. among those who have carefully taken stock of what prospective supplies toff combing merinos there be, that buying wool is a more profitable gamo to-day than selling the combed article. Many lots sold last series would make tops costs four shillings or even nv>re, and considering that it certainly seems as though a further rise in London was not in the interest of of Bradford topmakers and spinners. The attitude of the whole trade today is one of confidence in the future, and the prices users are paying show that they are cpiite ready to discount a future rise. On. tho opening day there were dozens *of lots o£ superior wools selling at around Is 9d to Is lid, which could have been secured a month ago for about Is 7^d to Is 9d. The advance generally was lJ>d to 2d in the topmaking wools offered, and out of most of them decent 64's tops would cost around 4s 3d to 4s 4d. One or two lots went at "stinking dear prices" for Bradford spinners, who apparently can pay any figure, and thought the wools were 70's, it was estimatped toat the tops would cost close on 4s 6d. Wes't Australian greasy merinos touched 2s yesterday — a record price. , SATISFACTION FOR GROWERS. The news that was received here early this week to the effect that an embargo has been placed on the export of all wool from Australia except to Great Britain, and that the Brisbane sale had been postponed in consequence, had not the slightest effedt on the market here. There seems to bo altogether too little merino woo» in .sight for such an embargo to affect materially the c6iipse of values, and one 'would oertainly think topmaking wool looks like rising in spite o!; everything. No! matter where they comia froni, Australia or New Zealand, good combing raeriiios are at a premium to-day in London,? and it is lucky for some things that America is not allowed to force up values' still higher. Tlie fact of the present high prioes is itself a warning that the.' home trade demands for wool are really pressing, and we cannot believe the tumors that Australian growers aro against an embargo in their country because they want the last £d, Avhether it be out of American or English buyers. Three shilling scoureds are by no means the novelty they used to be. One would like to see a" few lots of the famous Shaw mark offered to-day. Tliey might reaise woll on towards 4s. During this week, Russia has paid up to 3s 2d for the Clyde .scoured clothing wools from Victoria, and 3s 7d for scoured Queensland 70's of the' Cambridge Downs mark. These wools, .though it is difficult to. find fault with them, were certainly not the best offered this year by any means, and the prices realised show how far the market lias advanced during the last month or two. At the present time shipping to Russia is becoming easier, as the ice breaks pound the port of Archangel. Ek&terina also continues to work at full pressure, and during the summer months considerable weights of good wool which have been bought by Russia in this market during the winter will be taken to her mills. We might here comment that compared with some oi: the figures whicn greasy merinos are fetching, Queensland scoured 70's at |rom 3s 2d to 3s 6d, though certainly high priced, can hardly be called dear. INFERIOR WOOLS. Nor is tho strength of the market entirely confined to sorts. Flannel manufacturers ate again well to the front, and Rochdaio aud the West Riding have been keen competitors for all classes or short, Wtfollen style merinos. Botli scoured and greasy wools, burry and free, have been actively competed for, and short West Australian lambs have sold at around 16£d, which would only make about 9d in <. normal times. One of the chielf buyers for a well known hosiery firm has been paying freely Is s^d for West Australian greasy merino lambs, these Avools being a good penny a hove last series. It is understood that there has been a considerable amount of buying done in this country by French and Belgian .. refugees, particularly in slibrt carlx>nising merinos, such as are chiefly used across the Channel. These wools aro held in this country against the time when they can be shipped home. Sticky Sydney burry 70's scoureds have touched 3s lid. Tho advance in the best . greasy merino,? is quite 2d, in scoureds 3d, and in faulty wools about l£d all round. GOOD CROSSBRED OFFERINGS. There have been one or ,t\vo exceptionally good lots of Australian comebacks, Geelong wools of the Eddington mark having made 25£d, Tasmanian comebacks branded Woolnorth 2s O^d, Port Phillip comebafcks marked Moynalla 26d, aud excellent length West Australian comebacks of f,he E. J. I. clip 23£d. These wools «were all taken by Bradford and Scotch spinners, and their extreme scarcity accounts Ifor the big figures, realised. Some very good half-Breds have also been , offered from New Zealand, Glad brook touched 24d, Ormaglade 21£d, and several others from Is 7d to Is 9d. Fine scoured Sydney comebacks havo touched 40£d, crossbred. 36£d, and quarter-bred lambs' clothing from Melbourne have sold around 2s 7d. One or two lots of fine sliped lambs have been submitted, but' not large weights. These have made, good prices, selling at up to 2s 2£d, always for tho woollen trade, and they frequently show, like greaay sorts, an advance ofa, good £d. Borne put it down at ld, but one must not forget the big prices paid last series. The bulk of the crossbred offerings have consisted d! medium and low sorts, and they have met with special competi. tion from Bradford topmakers. At the present time 36's to 40's wools certainly seem to be t^he most reasonable combing sorts on the market, and there is a feeling that they are worth buying as a speculation at to-day's prices. The war may last another winter, and more khaki orders both for our own and Russian troops are not dreamed of. No real advance can be quoted in these wools, but' they are very steady at last sales' GOVERNMENT CENSUS' OF WOOL STOCKS. During the present week the Government has been taking a census of all stocks actually held in this country of wool, tops, noils, _ yarns, rovings, rags, shoddies, and mungoes, under the term At-00l being understood all kinds of wool and hair, both home and foreign-growii. Only stocks actually ih the country had to be counted, and each firm had to state separately what goods were unsold and what were to be delivered against contracts. There were several different sections for colonial and (foreign crossbreds and merinos, and for the different classes of English wools, this system of tabulation being also carried out to some extent in tops and yarns. It will thus be seen that by thia census the Government will obtain a clear idea of all the goods in the country, those which are suitable for khaki, and those not so suit-

J ed. Returns correct to within. 5 per cent, have been accepted, and firms have had to fill in hoM' much of their stock was heud on foreign account. They have also been required to state how their present stocks compaaed with those held in normal pre-war years, how much carbonising merino wool they hold, and if they have any difficulty in having carbonising executed. It is quite obvious that by the above scheme the Government intend to clemup a good many points which have been recently debated to some- extent in the dark. The last question will obviously show them what demand there is for the extended use olf nitre oake instead of vitriol in 'this country, and how far burry merino wools might be allowed exportation to the United States, this last idea having been put forward bv Freshfields and Patterson, of the American Textile Alliance, six weeks ago. Reliable information will also be received of what stocks of tops and yarns are actually held in this country awaiting shipment, or bought and held here by foreigners; what goods have been specially prepared for export, and to what extent licenses could be granted. By tbe census oi machinery already 'made this year, the .War Trade Department will have fairly accurate knowledge d! the consumption of manufacturing districts in Great Britain, and by keeping a careful check on imports and exports, they will always be able to tell how much stocks we actually have in the land. Tlie census is in that way a thing that only needs doing once, now that both import and export trade is so carefully watched, and the pity of it is that it was not carried out many months ago. When once the returns a.re' collected and analysed, we think it nob unreasonable to suppose that the War Trade Department will be able to give the members of the British wool industry clear indication of what their policy will be as regards our export trade. Representatives of the French wool trade are to hold a meeting with representatives' of ours and the War Trade Department, it being felt that our nearest Ally has large claims on our wool supplies, and it is to be hoped that facts will prove that a freer commerce, can be carried on to the advantage of both countries. At the same time, wo expect that direct trade will have the preference. That is, sales from the English topmaker to the French spinner will more easily be made possible (bv license) than sales, for example, by a, Bradford topmaker to a French merchant, or through merchants in either country.