OUR YORKSHIRE LETTER

Gisborne Times, Volume XXVI, Issue 2236, 31 October 1908, Page 2

OUR YORKSHIRE LETTER

THE WOOL MARKET.

A FIRM AND STEADY POSITION

[From Oun Special Courespondent.]

BRADFORD, Sent. 18,

The past week has seen "a continuance of the better conditions which have been prevailing since this month dawned, and if big weights are not being put through, yet sufficient is being sold to *causo prices to bo exceedingly firm. I can’t say that any advance has yet- taken place, but for nil that no holder will sell at less than the Lest prices' yet made. One cannot heli> hut observe the changed attitude of both importers and topmakers to what wo have seen at this time during the past few years. Having considerably profited by the heavy losses caused by selling forward nobody as yet lias, ventured into the questionable practice of agreeing to deliver tops next year at loss prices than what. are current to-day, with the exception of about one firm, and finding no others following, they speedily retired. All importers are saying that they are going to wait and see what London does next ser 7 ies, and how Australia shapes before venturing into .the future. Many seem to think that when the first orders are supplied and urgent requirements arc met, prices will slightly ease. There is no doubt that importers would welcome a range of lower prices before, they begin to buy in good earnest, for all alike recogaiise that even on a, basis of 22$d for super 60’s tops, there is plenty of room to make u serious mistake. What Bradford wants is cheap wool, but there does not seem- to be any immediate prospect of obtaining same. The heavy stocks in London available for the coming series are not regarded so sceptically (as during the last three series, and plenty will bo forced to buy next month to cover their urgent needs. Stocks here are very light, and holders of wool in London will be doing real service to the trade if they make a bold attempt to get rid of all arrivals at the impending sales. The old adage, “(Sell and repent, but sell,” can well be adopted at the forthcoming series, for wholesale fabric buyers are making the most of the large stocks held over in London. Evidence is accumulating that last sales’ closing values will be easily made, and no doubt there will be a big buy, but users here are very much against any rise. Manufacturing conditions are no worse, but not a great deal better. All the movement so far seems to be at the wool end of the trade, yarns and pieces being still exceedingly quiet.