OUR YORKSHIRE LETTER.

Southland Times, Issue 16786, 15 July 1911, Page 8

OUR YORKSHIRE LETTER.

TEE ArTEEMATH OP COLEMAN STSEET. (From Our Special Correspondent.) BRADFORD, June 2. 1911. The trade has now had time to fully digest the real significance of the recent series of London sales, and after sleeping over what has transpired the general impression is that good desirable wools sold fully as well as could be reasonably expected. It is quite true that many importers express feelings of dissatisfaction over what actually took place, but the fact is at last recognised that values cannot go on advancing indefinitely, and if higher prices were not general, still wools of quality, length, and soundness commanded good competition. and realised full market rates. Heading over the various brokers’ reports it is plain to be seen that they, too, hardly realised their expectations, still for ail that they had no other alternative but to sell, and I don’t think they will have very much to regret in disposing of the large weight of faulty ■wools which came to hand. There are times when it is policy to hold over wools, and although there are no signs whatever that there will be a scarcity later on in the year, still with the low price of noils, the strike at Verviors. less- activity on the Continent, and heavy stocks of faulty wools which have been bought in Australia by users In Yorkshire, I cannot see this class of material improving its present position very much. However a good deal can he said in regard to good combing merinos and crossbreds, for there Is every likelihood of these being somewhat scarce at the September sales when importers will naturally sell all they have. FINAL RESULTS. Let me place before readers the final results of the recent series of London sales, the particulars being furnished by Messrs C. Balme and Co. in their closing circular. "When compared with the termination of the March sales the following changes were seen : —Australasian Wools. — Greasy merino, superior, 14(3 cheaper; greasy merino, average to good, par to lf,d cheaper ; greasy merino, inferior, iid to 14 d cheaper ; scoured merino, superior, 14 d cheaper ; do. average to good, par to I4d cheaper ; do., inferior, Id to ll4d cheaper ; do., faulty pieces an! locks, lid to Id cheaper ; greasy merino lambs wool, superior, par ; do., medium, par ; do., inferior, par ; greasy crossbred, fine super, lid to Id cheaper ; do., fine ordinary. Id cheaper ; do, medium superior, par ; do., medium ordinary, lid cheaper ; do., coarse superior, par : do., coarse ordinary, par to lid cheaper ; dd., lambs, superior, par to lid cheaper ; do., lambs ordinary, par to lid cheaper: scoured crossbred. fine. Id cheaper ; do., medium and coarse, lid to Id cheaper ; slipe crossbred, fine, lid to Id cheaper ; do., medium, lid cheaper ; do., coarse, par to d cheaper. —South African Wools. — Snow white, par to lid cheaper; dc., medium, lid to Id cheaper ; do., Inferior, lid cheaper ; grease combing, light, par ; do., heavy, lid cheaper : grease clothing, light, par to lid cheaper ; do., heavy, cheaper. SUPPLIES AND DELIVERIES. It is quite In order to say that the end of the last Australasian clip is. now fast approaching, and it Is significant that the raw material has moved at a quicker pace into the hands of consumers than in any previous year. It is expected that there will be a reasonable proportion of colonial “new clip” for the London July sales, this being a totally different procedure to what obtained twenty years ago. It used to be considered a fine thing to have 100,000 bales of “new clip" for the November series, but nowaddys autumn shearing has to a large extent transformed the Australian wool trade, and as far as one can see it is all to the advantage of the industry. I have always favoured autumn shearing in Queensland, for the simple reason that a good proportion of the clip can then be dealt with before the weight of wool from the other states comes on to the marekt. This certainly is well worth considering by those in a position to shear early, and if length of staple is sacrificed for one s ?ason it is remedied the next. As already said, the current clip has moved to consuming centres at a record rate, and Messrs H. Schwartze and Co. supply their usual valuable statistics showing the number of bdles that have been absorbed. Adding transit wools and direct imports, the total deliveries compare as follows : 1911. 1910. Bales. Bales. Home consumption 7'\G,ooo 097,000 Continental „ 1,251,000 1,037,000 American „ 42,000 122,000 2,079,000 1,906,000 As already said, there is no increase In the production, but owing to quicker arrivals and in consequence of the later closing -of the list of May arrivals, the total deliveries sho wan increase of 173.000 bales. There is an increase of 59.U00 baies for the home trade and of 104.000 bales for the Continent, but a decline of 80,000 bales to the United States. THE QUESTION OF PRICE. Analysing the standard of prices for the raw material, it must be said that while wool is no cheaper it is not over dear. Of course, growers and buyers look through different spectacles, the perspective being quite different in both cases. On the one hand we have those who think that prices are going to be lower, and some are even sanguine enough to think that before the end of the season values may yet apjareciate a little. Without committing oneself to either view, I must say that the raw material can be turned to good account by any section of the trade, and after ‘ill that is the fundamental principle which underlies all good business. Nobody likes to be saddled with heavy stocks when values are on the point of declining, but to-day tops can be made and yarns spun at a profit, and I don’t think any manufacturer is running his machinery at a loss. Prices seem to be on what I may call a good commercial basis, for while to-day’s rates are certainly paying ones for those producing the raw- material, yet wool is not too dear to be manipulated to advantage, and the fact of all mills in Great Britain continuing busy is a proof that trade is good, and that values are in no sense hampering free sales of the fully manufactured article. At the present time manufacturers are showing for next spring, and I hear there is little difficulty in commanding current prices. The fact is, there is not to-day that haggling over a penny per yard providing the buyer is getting good value, and so long as manufacturers can show something good and tasty the wholesale fabric buyer is disposed to entertain the cloths and pay good prices, knowing full well that he can sell same to advantage. Piis great concern Is to obtain fashionable fabrics, and I need hardly say that both Yorkshire, Scotch, Irish, and West of England manufacturers are fully alive to the needs of the trade, and are meeting the requirements of both woollen merchants, wholesale clothiers, as well as shipping houses. Little new can be reported respecting the Bradford market Business on the whole is quiet, and likely to remain so for some weexs to come. I daresay a gcod average 64’s can be bought at 27d, although the majority are quoting 14(1 to l£d more. The position of crossbreds is almost a duplicate of what obtains in merinos, and it is possible to buy a good 40's prepared top at 14d.