OUR YORKSHIRE LETTER.

Gisborne Times, Volume XXVII, Issue 2432, 22 February 1909, Page 2

OUR YORKSHIRE LETTER.

BRADFORD TRADE WITH AMERICA. ' .. -From Our Special Correspondent.] BRADFORD Jan. 8. The American market has always been regarded as one of the “plums” of Bradford manufacturers, and but for hostile tariffs an excellent trade could be done to-day. When manufactured goods have an import duty of over 100 per cent to face it handicaps seriously export houses, hence no surprise need ha felt at the exports of 1908 showing a sensible falling off. Before the financial crisis occurred, Bradford was doing a very respectable trade, but all last year every month a decrease had to be chronicled, the only exception being December, when there was an increase of £42,184. Really speaking the latter half-year was hotter than the former, but when all is said and done the yearly figures are depressing reading. The aggregate total was £2,335,011, compared with £3,464,591 the previous year, or a decrease of £1,129,580. This is a long way the -largest annual decrease which has , had • to be chronicled since 1901, for although there was a falling off in 1906, yet it was not half what it was in 1908. ff one surveys carefully the aggregate yearly shipments under the pi'osent Dingley tariff, there lias been a gradually improving trade since 1.901, with the exception of 1906, and the aggregate total then was £3,198,404, against £2,335,011 last year. Hence it will be seen that last year’s figures are less than any we have had since 1904, and if the figures of the last four year had been maintained, nobody would have had cause for grumbling under the present high tariff rates. After all, when one considers that last year was a Presidential election, and remembers also that values for both raw materials and textiles were sensibly lower than in 1907, the shrinkage is by no means serious. WOOL HEADS THE LIST.

Looking over the list of shipments, raw materials claim first attention, for wool again heads the list as it did in 1907. In fact, raw materials are being shipped, annually in increasing quantities to America, and what that means to manufacturers •is too well known to enlarge upon. The total last year amounted to £‘532,209, compared with £908,228 in 1907, consequently the decrease is no less than £76,019. This fact need alarm nobody. Bearing in mind the reduction in the price compared . with 1907, it would be found if the facts could be ascertained, that the quantity shipped last year was even greater than the year previous, notwithstanding the sensible falling off in values. The “Yorkshire Observer” points out that “for the eleven months ended with November tlie average price was 9.53 d per lb., as compared with 12.05 d per lb. in the corresponding period if the previous year. Applying those figures to the value totals of the respective years, it wil lbe found they viokl. in round numbers, a total weight of 20.302,000 lbs. for 1908, uid 18,086.000 lbs. for 1907, or activallv an increase of 12 per cent, in favor of 190 S. Probably this result is not very far off the mark.” In any case, the weight of wool still shipped across the Atlantic is certainly very large, and there is every appearance of there being no falling off during the coming year. One has only to go back over a number of years to see what progress has been made in wool shipments to America tinder the present Dingley tariff. ft took effect on August 1. 1897, and in 1898 the actual wool shipments amounted to only £114,142. Right up to 1903 th.e exports were a mere bagatelle compared with what they have been since, and it is more i:!ian ever evident that America must have English grown produce to fill out its ever increasing requirements. During the “free wool” Wilson tariff years of 1895 to 1897 what was then .considered to he tremendous shipments of wool were sent across the Atlantic, but since then men’s ideas have broadened considerably regarding regarding requirements. Very large anticipatory shipments were made in 1897 to escape duty, but even in a slump year the quantity is by no means much below the quantity shipped in that year. If the average for the three years be struck, it will be found that both in point of quantity and value shipments m 1908 equalled the yearly agerage under the “free wool” tariff.

THE BRADFORD MARKET. PRICES VERY FIRM. An exceedingly strong tone characterises the. Bradford market, and while ,a lot of business cannot bo reported as passing, still the undertone is exceedingly good, and there is a tendency to still further force the pace. Topmakcrs appear to be in a very independent position, and most of them consider it policy to put out higher quotations. The majority are exceedingly busy, commission . woolcombers being unable to accommodate! topmakcrs as Avell as they would like. It is more than over in evidence that where tops arc due this month delivery is is being pressed for, and everything sold is Avanted in at once There is great interest manifested over the future course of prices, spinners and export houses keeping in close touch with the market. It is still possible to buy a. good standard super 60’s top at 23d, notwithstanding the very same parties arc quoting a farthing and half-penny more. Many 'are asking 23£d, but this price lias not

yet been paid excepting for a good •warp super 60’s. Private cables from 1 Australia report there an advancing market, consequently holders of tho raw material have a strong impression that they need be in no hurry to accept anything less than they are asking. Business, no doubt, is assuming u more normal aspect, and there is on all hands a strong belief that this year is going to produce something "better. Spinners are undoubtedly better employed, and particulars are coming in more extensively. This, is what they want, for the majority have orders on their bocks which will keep them running till next June, providing they can command instructions for delivery. In crossbreds there is more doing, and it appears to be a settled question that prices will advance again for these at the forthcoming London (•ales. Some concern seems to be manifest over the paucity of arrivals of crossbreds. Good 40’s arc very firm at 12d, and lately there has berm more doing on export account in carded de-.'•-riptions ranging from 40’s to 46’s. V. hat is selling the best is tho raw material, and it is surprising what a demand is in evidence for wool. Many dealers have had some good ‘ ties, and considering stocktaking has i- en lately proceeding trade has been much better than ever anybody ex-

pected. Manufacturers are not so easy, and there is need for an imp ovement in this department. Mo* h iir is quiet, and prices are unchang-