OUR YORKSHIRE LETTER.

Gisborne Times, Volume XXVIII, Issue 2744, 24 February 1910, Page 2

OUR YORKSHIRE LETTER.

OUTLOOK FOR THE LONDON •’SALES.

(From Our Special Correspondent.) BRADFORD, Jan. 14.

Everybody seems to be astir making preparations for the next series of London sales, which begin on Tuesday. As much interest as ever centres around the opening, and a large 'number or buyers are certain to be present, it is already a foregone conclusion that another lively time will be seen, for there is on all hands urgent requirements to be supplied. "When machinery is kept goi'iig at the present rate it grinds up a lot of material, and although there is no crying out for the want of fine wool, yet m crossbreds there is a perfect wail at the dearth of supplies. The trade is very hungry for crossbred fleece wool, and 41,000 bales are available. This is practically the same quantity as we saw last year, and will do no more than meet present requirements. I understand that already’ several noted American buyers have arrived, and they will make their influence felt for the host classes ol crossbreds, touching in all probability the coarsest qualities. One never knows, but I hardly think we shall see many merinos bought lor America, as they' have already bought cheaper wool in Australia. It is just possible that with the excellent offerings which are to be submitted United States buyers may be in the market for larger weights than is generally supposed, and they arc certain to lie big buyers of crossbreds. A very expectant feeling obtains throughout all consuming centres that higher prices are* going to rule; in fact, there is already a foregone conclusion that coarse crossbreds will be dearer by 10 ]>er cent. 1 am strongly inclined’ to think that even medium descriptions will also appreciate about 5, but it is very doubtful if fine crossbreds will go up any, as the prices paid last series were certainly very high. Merinos are not expected to show much variation, as values here are considered high and there is a fair big quantity of fine wool to he lilted.

SCHAY.ARTZES’ ON THE OUTLOOK. Messrs H. Schwartxe and Co. published this week their annual review, which as usual is very luminous with .statistical inrormation regarding tlio woo: ami textile trades, in many ways they say the past year has proved a surprising one. r ii> begin with the supplies were much heavier than had been anticipated. Instead of a decrease in the Australasian imports which had aetutally been assumed in certain quarters there was an increase ot no les, than 224,000 bales. The trade had also to reckon with furthef increases of ,: .000 bales from the Cape, and of 87,000 bales from the River Plate, the “total production reaching the - enormous figure of 3,247,000 bales, including a record Australasian clip of 2,296,000 bales. A further surprise was provided wiien it became evident that these huge quantities could be absorbed without difficulty. At no period was any hesitation apparent; and prices hardened steadily as the year advanced, so that merino is now fully 10 per cent on/1 crossbred 25 to 30 per cent dearer than a year ago. The close of the year saw crossbreds at their highest point, while merinos are about 5 per cent, below the extreme (prices reached-in September. Practically the whole of the increase in Colonial production has *e to the Continent and America, the latter taking no less than 85,000 bales in excess of their last year s purchases. According to the above firm’s estimate the Colonial and River Plate clips last year showed 47.2 per cent, as the production ot crossbreds, the remainder being merinos. The average value per bale of Colonial wool worked out rk .215, and it took £40.000,000 sterling to lift the total Colonial cii.p. Then follow their views regarding the future : “It is difficult at this period to estimate acucrately the probable total of the Australian and New Zealand clip, but it appears unlikely that there can lac any considerable increase. Cape shipments, too, should show only a small excess, while from the River Plate there will certainly be a heavy decrease, probably fully 70,000 bales, equal to nearly 200,000 Colonial bales. Oil tlie whole then we may anticipate ae.mt the same quantity ot merinos as last year, agd a largely decreased supply of crossbreds. Stocks, so far as iturope is concerned, arc reasonably small; there is an active demand, even at this generally quiet period of the year, ancl money is, not so dear as to hamper business. The outlook, thereloio, is favorable and we do not anticipate any .serious decline in values of merino wool.

As to crossbreds the fact cannot be blinked that they have risen continually until they are once more on a somewhat high level, especially as regards the finer qualities. But in view of the continued demand for this class from all quarters (including the States), the small vkible stocks -of raw wool, and the large decrease in the production, we are inclined to think that here too the present high prices are not likely to be disturbed tor so me time to •mine.” There is no more astounding fact in connection with the wool trade, of last year than the arrivals from Australasia. 2.296,000 baics making a world’s record. The very fact of there also being an increase of 104,000 bales irom the Cape shows how South Africa m going forward as a wool producing country, and there is every prospect of both Australasia and the Cape turning out record quantities again this yea.r. Smith African pasteralists are at present in a more progressive frame of mind, and they seem disposed to wipe out y the stigma which has been attached to their wools during the past fifty years. At the forthcoming -January sales some very good wools are to be offered* and we shall be much surprised if even America is not a large buyer of South African wools.