OUR YORKSHIRE LETTER.

Wairarapa Daily Times, Volume LXII, Issue 9565, 30 December 1909, Page 2

OUR YORKSHIRE LETTER.

PRICES AGAIN Al/VANGING

THE WOOL TRADE OF BELGIUM

(From Our Special BRADFORD, Nov. 19fch, 1909.

Things in the wool trade are developing fast, and factors are in operation which never before have interfered with tho movement of either markets or prices. Strikes are uuknown things, aud one can never fully gauge their real significance, or determine the ultimate outcome. The cabled intelligence from Syduey that the sales have come to a standstill makes ominous reading, aud no section of the trade likes the appearance of things. It is too early as yet to feel uneasy, and the trade generally is looking on with feverish interest, but all the same there are possibilities iv the Bituatiou which can seriously upset calculations at this end of the world. It is possible that growers will ultimately benefit by the stoppage of the Australian sales owing to supplies being very much restricted, but all the same consumers are not disposed in actual deed just yet to pay any increased prices, notwithstanding that sell.rs are pressing for more money. There is no doubt that the continuance of the strike in Australia will have an important bearing on tho future of values, and a speedy termination is to be desired in the interests of all parties. Some think that if we see political complications, due to a certain Geueral Election, the finances of this country may suffer a temporary upset, but I am not among those who are looking for any serious trouble even if the Lords throw out the Budget, which is now a foregone conclusion. This couutry is of too staple a nature for anyone to get iuto a funk simply because "the Finance Bill fails to receive tho sanction of the House of Lords. DEMANDING HIGHER PRICES. This week business has naturally assumed less imposing dimensions- all because of the deadlock in Australia. The fact is, importers don't know where they are, hence several have declared off, and will now no louger sell forward solely because of the uncertainty of obtaining supplies. The result is that most firms havo either stated emphatically that they will book no further orders or else thoy want more money. They would gladly sell if they felt certain they would be able to laud wool here in sufficient quantity and in time to allow of the same being combed, but that seems now impossible. Things were going on nicely, business was progressing most encouragingly, aud now this coal disturbance comes along to upset everything aud everybody. The majority of importers are wanting 20d aud 27d for super 60s' and 64's tops respectively, and nobody will now undertake January delivery. The raising of prices another full halfpenny brings both "futures" and spot values to practically the same level, aud very little business of the latter character is taking place. Icouldiiamo a score of firms who are to-day in a most independent position, simply because they have covered all their wants r.p to the end of next March, and as for following the market, they all say alike they are going to wait. Things are in a very interesting state, and what is going to be the upshot of it all no man living can tell. However, business of a real sound character obtaius, and I am optimistic enough to believe that unless something great aud important occurs in the financial and political world wool values are not going to vary a great deal. THE WOOL TRADE OF BELGIUM. Although but a little country, Belgium figures prominently as consuming cousiderable quantities of the raw material, aud push has lately been manifest by Antwerp wool houses. It is not long aeo since they laid plan? for capturiug the Cape trade, and the fact of wool sales beiug held regularly at that city was no doubt one incentive for trying to divert South African wools for sale at that city. As a rule, Antwerp wool sales are well attended, and are specially noted for the South American crossbreds on offer. There are some large and important manufacturers in Belgium, and a big trade is done iv yams, particularly with Euglish manufacturers. Recently a Consular return was published dealing with the wool trade iv 190S, and although it is somewhat belated, still a few points are worth considering, as showing what is being dove across the English Channel. In common with every other consuming country, the results of the trading last year were very moderate, prices remaining low during the greater part of the year. At Vervier, early iv 1908, the position was particularly bad, but as time passed business improved somewhat, and by November trade was again brisk aud prices on the rise, thus affordiug some compensation for the bad times through which the trade had passed. The Conditioniug House returns at Vervier offer a fair indication of the business doiug, and the following figures indicate both increases and decreases compared with 1907, the figures relating to the raw materials passing through, during each of the four quarters ol 1908:— First quarter, 1.114,664 kilos; second quarter, 285,443 kilos; third quarter, 1)08,42-0kilos; fourth quarter, 1,445,(520 kilos. As already said yarn spinning forms an important adjunct of the Belgian wool trade, aud the report goes ou to say that spinners had a most unsatisfactory year, as apart from the general depression carded woollen yarns were much less in demaud thau usual. I have often been ■surprised at the class of yarns spun in Belgium and the prices at which they are offered to Yorkshire manufacturers. Not only are they, as a rule, well spun but the prices quoted per lb cannot be touched by West Riding manufacturers. The Uuited Kingdom is by far the largest customer for both woolleu and worsted yarns sent out from Belgium. For the benefit of readers I show iv the following figures both the quantity and value of woollen and worsted yarns used for weaving that has been imported from Belgium during the last few years. There is no distinction made between the two articles hence the figures relate to both descriptions of yarn as being made from wool:—In 1904, _5.898,8981b5, of a value of £1,400,651; in 1905 17,950,3521 bs, of a value of £1,572,839; in 1906, 16,805,1321b5, of a value of £1,511,272; in 1907, 15,814,4421b5, of a value of £1,372,879; in 1908, 12,914,7731b5, of a value of £1,166,750. Scouring aud carbonising is largely practised at Vervier, and owing to wool being cheap the trade of last year was considerable, Like the huge

business done at Mazamet iv France, so at Vervier large weights of skiu Mfool are treated aud exported to Eng"ftnd. The outsider has litcle knowledge of the actual quantity of wool that is imported from Belgium iuto this couutry, and it seems strange on the surface that Belgian buyers should come over iv such good numbers ro the London sales, take the wool home: for treatment, and theu send it back to this country for re-sale. The following are official figures showing the extent of the business done :—-In 1904, 7,652,7831b5, of a value of iv 1905, ?,109,J)791b5. £286,834; iv 1906, 6,999.4581b5, of a value of £2SS,'r4S; 1907, 7,720,0751b5. of a value of £335,574; iv 1908, 5,0G5,13]1b5, of a value of £204,773. So far this year this brauch of the iudustry has beeu exceedingly well employed, aud considerable increase iv "busiuess lias been done both on home and export accouut. The quautities which have passed through the Conditioning House during the first six inontns of 1909 compared with the corresponding period of 1908 are returned as follows:—In 1908, wools, uoils and wastes (scoured and carbon-

ised), 8,208,752 kilos, in 1909, jff1b0.084,931 kilos; uoils (raw), 1(54,454 in 1909, 134,272 kilos; carded aud worsted Tarns, in 1908, 7<i5,712 kilos, iv 1909*843,715 kilos; combea wool (tops), in 1908, 464,112 kilos, iv 1909, 478,083 kilos; weighed only, iv 1908. 334,822 kilos, in 1909, 387,508 kilos. Total, 9,937,852. kilos; in 1909, 11,928,569 kilos.