ENGLISH WOOL MARKET.

Poverty Bay Herald, Volume XLVII, Issue 15321, 17 September 1920, Page 9

ENGLISH WOOL MARKET.

•' IMPROVED VftlClSS FOH FlNt CHOSS breds. 1 MANt T FACtt:itEttS UECEiYIKG FEW I'iEW oiibEits. "! liitAbboiiD^diy ssi.^-scfidr-as^actuai ltu*iines3 triWisac'tions art' confccrnt*U (lii; ,- itiiii'ket is very duict. prices g«:nci';illy : ti'ißliiig to a _onrcwli.il lowet* 'basis. lIKVt . is no iiniirovcnieiit whatever m tops, \ nclthi'l* m regard to •■ values or tne 5 amuiint of business which is lieing done. \ H ib soint-'AVhat anomalous to lind to-day \ tliat lops made out of wool bought at \ the receilt .series lit London \yill cost mo" re J !thau till* fljrures' current locally. Warp 5 , Hi's eaiiitot lie tjitoled at more than 8a i per Ih. or' average OVs al more than 7<* i Ud, tlie absence of any amount of inter- • est malting top-makers who afe not m ;t s very sti'ong position more ' disposed to • shade prices. Recently crossbrCds havo > hot , depreciated to the same extent as > merinos, but, of course, these have all » ulong been on a comparatively lower basis. ■ Further dualities of crossbred ' wool have been offered from, Buenos Aires - at reasonable "prices. The high prices be- > ing paid for Down wools m the country > is being rcllected m the price of Dowii [ tops. 50's Shropshire now being 3d per • Ih. deafer than they were at the be- , g inn in.g of June, i The yarn market is also very quiet, • and though spindles arc still running the , depreciation m value's continues; 2-48's out of Gi's now being worth around 15s Gd. Though spinners generally are at the present juncture m a much better position than wool merchants their policy Js 1o await the result of the agitation of tho textile workers for an increase m wages. Unless orders are forthcoming m much larger volume than at present looms and spindles will be brought to a standstill. Though strong efforts have been made to prevent the further cancellation of orders for piece goods on export account, stocks are accumulating m the hands of manufacturers a*iid there is every probability even m the event' of the operatives accepting the 263 ' per cent, advance offered by the masters oi short time becoming general. ENGLISH DOWNS DEAR. During the past week the demand for Down wools at the ' English fairs has continued to be very strong, the advance m prices giving rise to no little comment, among those particularly interested m this class of raw material. As the values paid merchants are largely out of (he running, and American competition has been almost' absent. Hitherto hosiery spinners have been . credited with being the strongest competitors, and no doubt the demand for handkn itting yarns has •'been largely responsible fbr Down wools being disposed of so readily, and at such high prices. Scottish men's wear manufacturers' haye fc however, taken no small portion, and the number of Down sheep having decreased quite one-third, there is no doubt that the quantity of wool available this season is smaller. There is a most striking difference between the cost of home-grown Down wools and corresponding qualities of New Zealand cros&breds^ The former have been realising from uod to 96d per clean scoured lb., while it has been possible to buy the latter at around cod. Taken on the whole the difference between the prices for Down wools and deep qualities becomes greater, and only Iho.se ■• growers "of the former who entertained grossly exaggerated ideas respecting what their clips should realise can be dissatisfied, a keen demand having been experienced for the best grades. Washed Dorset Downs nave* realised up to 68id, and teg wool up to 6-id. Unwashed ewes have made up to 55d, and unwashed tegs 46d. POSITION OF THE RAW MATERIALThe brighest spot m the wool textile industry at the present time seems to be the market for the raw material, though this is only by comparison, and when it has to be slated that more than half the wool offered at the recent London sales was withdrawn it is evident that there is nothing really very encouraging iii that centre. ' However, prices -generally were fairly well maintained, quotations for nierinos; showing an advance Ot about G per cent. There is every indication', of the demand' for Rood warp wools being maintained, and So far as is possible it will be iv growers' interests to put a {rood supply of this cl.-iss of raw material on the market, its sale at jtood prices being- ensured. The remarkable thing about tlie sales was ihe advance which took place' iv hue greasy crossbreds. the rise hero being about 10 per cent. No doubt this is partly attributable to the inadequacy of the supply compared with the demand, and to the fait that English crossbred \ wools suitable for hosiery manufacturing purposes are being sold m the country at' what, can only be described *as phenomenal prices. Refci'eiicc has already been made to this fact, "tho outstanding feature of the market for home-grown produce being the disparity between ~flno and deep wools, that is between Downs aiid Leicester, Lincolns, etc. A sale of free Cape wool was held m London last Monday, about CBOO bales being offered, but only about 400 were sold. Judging from ihe bids' made, buyers wanted 10 to 12 months' wool on a 50d to 55d basis, and p to I*2 months' wool at' 45d. Brokers stated that snow whites were 10 to 15 per ceiit. lower than last series. Some very good scoured wools attracted very little attention, and were withdrawn at 70d. Coarse "and colored wool was only wanted at low prices, and the few short wools available were practically all withdrawn at low bids. Mr, Fordham estimates m his circular that the nominal clean scoured cost of superior long combing Cape wool was 85d medium combing 75d, and short free wool 55d. THE DEMAND FOR HIGHER WAGES. The position at tAe manufacturing end of the trade is anything but satisfactory, due largely to "the general quietness /Which preA'ails arid to the demands which are being made-by 4he operalives for increased wages. This really seems to be part of a general move among the workers m the various industries, but so far a's this* wool textile tvade ; is concerned the time docs not seem opportune 1 for paying more money. It has been stated that the agitation m- the textile ;tra*de. has not originated among the leaders of tho unions, but is an expression of the dissatisfaction of the workers themselves. Judging from the character of the meetings which have been held the workers are riot satisfied, and, are Wanting higher remuneration, but there' is reason for saying that more ; gehuinc satisfaction exists among many of the workers than the union v leaders have yet acknowledged..'' At any! rate the' "writer knows that' when , some of the workers were informed that a 40 per cent, increase was being asked for on their behalf they expressed some astonishment. So far as warehousemen are concerned, 'that is, men employed m taking m or sending out goods iii the warehouses* of the mCrchanting, combing, spinning, and manufacturing Arms, particularly among the first-named, these have for some time had 'very little^Sork ib do\ the complaint of the -'masters -being, thU they have kept uien hanging about doing little ov nothing, and if the presci*4 tendency continues they expect that instead of being able to pay higher wages they will have to - dismiss some' of their staffs. Weaving operatives for instance are'today able to cam exceedingly good wages, and, as pointed outMh an official '* statement of the position, a minimum wage ol £i is 6d for an' adult male worker does hot represent the .maximum. It is the custom rather than the exception for move thair oho member of a household to draw a. wage from the riiills. The total ineoihc' of a, Yorkshire industrial family from the industry would make many a professional, man envious. The argument of Mi*. Ben Tinner, a prominent Labor leader, is th.it. (lie employers' offer, stated IU a previous 'paragraph, io be *.(ij por cent., only amounts to 7s, (id a week for uieii and Ss' 6<i for women. He lias also stated that lie*-kin*w that trade had fallen off, but he believed that it was only a temporary condition. The offer really meant; little' ior the employer. It is very questionable indeed whether the falling off m trade is as -temporary as Mr. Turner seems to think, for there is every prospect of machinery standing If there is no strike, and when it is remembered that the operatives havo received two advances of 10 per cent, each during the last two months, it scarcely seems the right thing: yfor further demands to be brought 'forward at the present time.— Special Correspondent.