OUR YORKSHIRE LETTER.

Gisborne Times, Volume XXVI, Issue 2305, 25 September 1908, Page 1

OUR YORKSHIRE LETTER.

STATE OF THE WOOL MARKET. GENERAL SLACKNESS AND INACTIVITY. (From Our Special Correspondent.) BRADFORD, 14, This district is at. the present time very largely given up to holidays, and will be for some weeks to come. A movement is on foot to try and induco employees to ret apart one whole woek per year, and close down the entire time. This is practically taking place next week an Bradford, when moro machinery will be standing than lias over been known in the history of tlio trade. The rosult is that men are very little disposed to enter upon new transactions, business therefore bejng reduced to very small dimensions indeed. Tlio fact of tlio matter is trade is extremely dull, and very little indeed is changing hands. I know of no single sound business foatnro that can bo pointed to cononctod with tho trade of this district, every tiling being very unsatisfactory indeed. Even tlio biggest bouses who produce the best toils in tlio trade have much to say of trade being extremely slow, new business being confined to simply supplying whit men are forced to buy to keep machinery going during business hours. Even then much short time is being worked, and instead of this being.reduced, tlio tendency is in tlio opposite direction. It is this aspect which is giving rise to rather serious forebodings, and unless there is an improvement wool values cannot but ease. Everybody recognises that tlio raw material is at a very useable price, but it is not wanted in any bulk, and spinners are in many cases spinning to stock. There are firms to-day running short time who have never been known to curtail production, and they find that particulars for delivery come to hand in a very unsatisfactory way. At tho anno time nobody is forcing business. Wales that must bo made only mean lower prices, and in tlie aggregate that does moro harm than good. 'On tho whole values are very steady both- for merinos and crossbreds, the quotations of lust week being fully maintained. Merinos, if anything, are slightly better than crossbreds, but oven then tliero is nothing whatever to shout over. Bradford remains tlio cheapest market in the world, but there is nothing creditable about that. Tlio outlook still keeps very clouded, tlie wool trade as a wliolo seldom being so baffled in sizing up tho future as is the caso to-day. Nobody seems t-o think tlmt higher prices are likely, but the opinion generally is in the opposite direction, although if tlio present holiday period can bo got through without .any break, prices should remain fairly steady.