THE WOOL TRADE.

Star (Christchurch), Issue 19986, 28 June 1920, Page 2

THE WOOL TRADE.

OUR BRADFORD LETTER, fFsou Ocr Correspondent.] . BBADFOim, April 30. Dunn;; the past fortnight iho question of finance has loomed large in the n '<?ol textile industry, as in other indusam] it bus been largely rosponGjblc for a distinctly more cautious tone throughout, the trade. Last nook the opril series of colonial Wo °l , salc -’ opened in London, with combing menuoes and fin,. crocs-breds par to o per cent cheaper than in •Union, and best greasy eruss-breds 6 per cent cheaper ; whilsUll average and interior sorts, monnoes and cross-breds, were clow n 10 per cent owing to lank of Continental competition. The fluctuations in the hreneh and Belgian exchange since the previous sales had i üBO Wl! h tliat mb evens 10 per cent mss was paid by buyers in “kcriiim ywluaHy more Mould have to bo paid", hen i .ekoned m francs, American operaiors move somewhat reticent, and took only ihe choicest parcels suitable to their requirement?. During the first few days of the sales there Mas. if anything, H . tendenev in ellm-E favour for good, .shifty morinocs Last featurday there was a •• description sale, a t which 22,000 baDs ot | greasy cross-bred, mostly 4(i’s and bmow, were offered. They sold with gjod spirit 'at the ns,mid ,or 1 t Ino compared with “ inspection " alfc;/ 11 '/ 1 rq)rc 'P nts the insurance allo.icd tor possible mis-description Appai ently, however, the lifting of this wool went a long way towards satisfyng users needs. This week there has S*. p f'’ c,!ptll,lc f“«ng in the 4ema.,d. tty monnoes hove, remained firm hut. even- other description of wool has heen m buyers’ favour Proceedings at the sales have thus •ado e tl th l al r titU l e of tho Bradford ti<)do, which refused to follow the last advance, and has not paid the Idcbor The? ’l " Cl l haTO I,cell fJ««tcd for to]*. 2r‘" 'f™ «.»««* to miL fin ™„ J° r *'”» centre, definitely failed, and most makers reduced prices tbreepenco a littK 0 : A 1 4 r , cds cam " down fhi f- *r c t,\ aud bayc oOUtt furthci this week. There is no disposition on ..ho part of u-;prs to buv {i lrv ° f tops ;,n ° ]d i '° u ' **• is ' ““doubiediy feeling e effect of fmaunu l s t nnmiov , vkle* u CV | CI ti Ul ,° tber ‘■•finmodities boci ed i? 0 1,,g1,Cr ba,,b *•”»*> ho* *» rts&x isssts* T , vr \ g CBpßC!t .? of many fi nu ; Chamberlain has smit with hi'* oinsbecl Ule ''ominercial world e”nt exl aV ° rmf >. iUSi ? teUCc 011 ” «0 lativJ?.. Pr dut> y- or alteruotn j j war wealth levy. Neither of h< alternatives 1S palatable, ami tH'em- * 2 ,nlp, ' ess ‘o'i that .Mr Chamberlain s (Idkimmed to have, some form of a of L parefu! |- v lh .° opera lion th a i Vink 1S ujß : S uai ;ded, it will mean thar banks will require liquid ;i «cis and consequently Uie.y ar c acti,m S caution in making advances " itsolMefi at M ,ancia l slri «goney makes materS M "’ Cak T £t poinl ' anfl ™«' « ul .liul tops IIU V(‘ JH'COl’dllK'iv »I louni most signs of weakening. The out|n,t of lops, even of merinoesi is St t“n',r? p .'' ul) ' ll,l - v , !nore than suffi. L. fc ’ , Ueet tbe ’'cffnireinents of binneis and export merchants. In yarns trv'r! ? usht . The last itchaucc iu prices has SSV h0 f kC(I iuquiry - Fill ° counts but ter tr i' ,OAV nu upward tendency. isi^°l t I,C B C °J mtS - Y herc the output •o 1H ° ‘ C dulr ' aiKl a capable buyer could ,-ecjro a concession. A more i 'Xbi; l ’°' ve ™'' is i!rat C l the Inui counts spinners will not sell morkpA'i hmr- output is already enrc[ d v,°: a Bi-cat extent to the cud now L r i" Ud “ 1 lhot t,ie ? «•!» do on m to ai. any small surplus which hiny doci r.c. ] here is a desire to reduce excessive forward buying and selling: : 'V t0 t!l f O 800(1. The consecdhemvLn U r Ug r a ' S ! m,p iu prices ctht, bc be disastrous, because, there tMrt d ”. S "u , € eXCUSOs 0,1 whirfl contracta mjglit he cancelled if prices fell. Lven m piece goods there baa been ?e, n° Mam *>oturcrs’ prices reman as stiff as ever, ami HiCv are ' booked ahead nut,J 1921, 6omc i^ iug c on accepted orders for carlv 1922. ' r aa,u hes . fl danger. Tlie dcar--8!> ‘ Jf , monc - v lla ,s mriiienccd some of been iUi H • U ' en -' ]u,ntj ’ aud thoro has stoM-s L w a !c° Unt of reduction of ~ 7 ,iud ''e-selJmg, and an attempt m some cases to secure cancellations. tmbeTT 1 elllphasl;; o>«st not be attached to a phase which may be onlv tha f lU nio I 1 ms - y ’’r . sa 'd generally that the tude is realising tho peril e S il l- I'.’Sh-priced forward contracts and fully appreciates the, artificiality of a price level in which 70’s monnoes arc IDOd above the old Gov0™ W awi’™ 40 ' S ,Ks|ja,:ctl A quebiou in the House of Commons from e th i"'' 01116 l lsehll infonnution Ui, kir i'wancial fea.creta.ry of tho istrj c 'l Munitions, who stated that T “"'» W X Auslraiasia'i S "k mf. V°?" tr J 1111 il:ireil n pre 07aJ® the quantity afloat or'l i n 1 ° S, i U; t,Jl ‘i’osponding figand •isSin?? 01 ’ 3 1.,' v0 r 0 608 ' (X ' )o nef -bS/JOO bales, fhe imports of Au<tralasirm wool during tho first throe JOOum hi l i ° >V i uai l ' !iVe l,Pen a!joUl erefnv I'"’ "“''i 3 sm ‘ plp - <'Mcuiatiol, erefouv shows that the Government Imiin- ‘tT ° lhe tra , dc ' 81 > OC M bales uuniig the throe months, o r an averbak? pc’ month. s!r fer Go]d . f ' ncll H programme provided „ ‘ . lllll [ltetmg of 225.000 bales per mouth it the Government wool was to bo disposed of without hlockhm the I There is thus ii Scmv •** 0 Anot, '°i' finosGon in the H«u«c of ! pr°.lhl K,01l! dircctcd toward? T he pioWem ol the Government profits on a topic winch is exciting mmh 1 Galiv 11 -! 1 / U i tb , e L ‘ 3lonieß - 11 was offii t tel,' S l S at for ..* l,e • veiir muled I yiaui), IJl.b the profit on wool was Bviti n ,mder £3 .000,000 for the I OtS GOO 7nr T l1 ; r littlc undfir -.,UW,WJO tor Anstra in, and a litth over £600.00° f« r X cw 55^.^ Aaturailv the highest prWs altrm'most attention, but when it'conms to Gon Ue blr, °r Pl ' ol ’M hs bulk transaca l, tK ° considered, A glance , at rim table of prices of lops below will the very widedivergice fiveen bO B urdmarv and 58’s cross-bred: lhe Luge proportion of low cross-bred thls country ha : , proved ™ • '= I-" 5 3 cll,l g on the market. J>ur■ng the greater part of the past four 1 months withdrawals of these sorts l av* | been frequent at the London " J]« | there was an imrirovcment last n>n n th I but Oncer more heavy withdrawals are taking place,m London. The absent of the German demand for low’ cro- , nvrxs, ami the extraordinary run [of fashion on the finest •worsted’: urr vwr vau.:ss. " Our usual table of prices of tons at Bradford is as follows- - 1 AVERAGE PRICE OE TOPS April 29. April is. April l'.

70s taerico d. - ITT d. m ' <3. * iso 64a moriao - 165 166 it>3; 60s super - • 130 153 1 S3 1O3 ordinary * 144 U7 14" 60i-64s Caps . - ■ nora com noaj So s cross-bred - - XU 115 ns. 563 '-rose-bred - - !>3 102 1*>3 50r. crcss-bred - ’> 70 74 71 4Ss cross-bred - - 4 2 15 4$ •10s prepared - 35 371 3TJ fi.1 05s prepared » - c3 31