OUR YORKSHIRE LETTER.

Gisborne Times, Volume XXVIII, Issue 2768, 24 March 1910, Page 2

OUR YORKSHIRE LETTER.

THE AFTERMATH OF THE SALES. (From Our Special Correspondent.) BRADFORD, Feb. 11. Once more the trade finds itself given up to wiping off arrears connected with the recent sales, the principal work this week in London being the making out , of invoices and the despatching of -wool ,to the variousMuanufacturing centres. So far supplies have gone out in a miost encouraging way, buyers being disposed to take in their purchases without letting them stand over in London. it may not be generally known, but every series a fair weight of wool is bought by several London and provincial buying •brokers, the bully of which is allowed to stop in London either in the warehouse ,-or at some station until the same is sold. It not unfre-quently happens that ■wool bought one series turns up again at a succeeding series. I know a case where a lot of West. Australian comb- ' ing was 'bought last November at 7kl, the same being sold in Bradford during the recess at Del. This identical lot, , which had never left London, was ro- ! catalogued at the recent series, and i again sold for 7-J-d, the owner of the | wool not taking the trouble to limit the | lot. consequently a serious loss resulted. ; London always provides a good opportunity for making a profit on any lot of wool that has been bought right, but for a dear lot of even imports Coleman Street is of very little use. The imo&t profit was .made':at the recent series of sales by those who bought last October in New Zealand crossbred “now clip” wool s either-.privately or at public sales, and in many cases 2d to 3d per lb. resulted. Re-offered merino imports fared rather badly. WHERE WOOL STANDS. The series' being over, we have now a moment’s time to look round and see where the raw material stands. The comparative firmness of merinos and the steadiness of values at the recent sales suggests a brief consideration of tlie present position 'merinos occupy, and on examination it will be found that while values are not extraordinarily high, yet they cannot be called cheap. Nothing suits manufacturers better than an adequate supply of wool at a little price, because then they have a far better chance of making good pro. fits than 'when wool is dear. It is always an exceedingly difficult operation to enforce increased prices on the wholesale, consequently when wool advances substitution begins. For instance, in the woollen trade manufacturers speedily resort to. a larger use of cotton and nniugo in order to bring in cloths at the old price. I know a case where a firm that makes largely “bread and butter” fabrics kept several of their cloths at the same price from 1903 to 1907; in fact, they are making these fabrics to-day at exactly the same figures as they did -when wool was pence per lb. cheaper. I don’t say the clcth is exactly the same value, although it is tho'same weight,.shape, and design, circumstances determining how miH: mungo, shoddy, and cotton shall Ik* used to .bring them’in at the old price. When it comes to the production of “’•all wool” fabrics, the situation is quite different. Here men cannot work to a price, for their fabrics are bound to alter each season as the price of wool goes up or down. I heard one Yorkshire manufacturer sav at the recent sales that one cf their cloths which they sold in June, 190 S, at 4s 6d, is to-day standing and selling at 5s 3d, while another dress serge of very good quality that they were making at Is 9d is selling at 2s 3d. Tliis shows bow rising values affect more or less the finished article, and the course of prices is being watched to-day more critically than ever by buyers of woollen and worsted fabrics. HOW VALUES HAVE RISEN. The present is an opportune time for looking at values. It will be remembered that at the beginning of 190 S we had demoralised wool markets with colossal losses on imports, the lowest point being touched at the May series of sales. Below I show the values then ruling for leading descriptions of New Zealand wool, and where they .stand io-

dav : 1908. 19.10. May. Jan. avg. avg. Berlin Per lb. d. d. d.d. Good duality, light, long' 11-111 15-16 Fair character, heavier... 9- 94 12-124 lrreg. condition, earthy... 8- Si 91-101

BIG RISE IN CROSSBREDS. The above particulars do not show a very great rise in merinos, but when we come to crossbreds the advance is considerable. Of course, this class of raw material has not occupied that front rank position that merinos have, largely due to fashions, but all available stocks have been used, and now when prices have appreciated there are no accumulations to be lifted anywhere. Crossbred wool was never a more valuable commodity nor more useful than it is to-day, and the outlook is most encouraging. Below will be seen particulars showing how values have moved since May, 1908. which was the lowest point' since the American financial col-

Trade m Bradford continues on the quiet side, new orders being somewhat scarce. The market cannot be called

i really slack, although there is not that buoyancy one might expect after the firmness of London. There has been, a mild attempt made to talk things down and belittle the verdict of Coleman Street, but so far it has had no effect upon prices. Topmakers still maintain a firm front, several having put up their price* to for super 60’s.. Whiteheads’ are very firm at 27d for their well-known standard make, which certainly is a very reasonable figure in view of what wool was costing recently. It is a bit of a mystery to a large number why super 60’s can be bought at 261 d when no class of wool could be picked up in London to bring them in at .that figure, and the situation is all the imore baffling when 64’s can still be secured from some of Bradford’s biggest and best importers at 27d. There has been this .week a fair amount of •inquiry, and several sales are reported of both merinos and fine crossbreds, but there is not that activity that we saw last month and in December. Alter all no reasonable mail can expect it, simply because spinners are all well ahead, and it is only the covering of fresh yarn orders for forward delivery which is the new business passing. Topmakers on the whole are very indifferent about selling more until they lighten their order books; in fact, I don’t know a single firm but what have quite ;<s .much to get out before the end of April as they can possibly manage. I w-us taining This week to the managing director of Bradford’s largest firm of commission woolcombers, and he can(UUty said they were “pulled out of the place” to make deliveries; in fact, altnoitgh they wore running day and night, yet they could not adequately cope with the requirements of their customers. Prices are very firm both for merinos and crossbreds, and the out. look is still regarded as favorable.

lapse : — 1908. 1910. Mav. Jan. A v”. New Zealand 'Wools. d. d. d. Half-bred: Super, 50’s-56’s 12 -121 16 -.17 Crossbred: Medium, 4b’s 8 - 9 134-144 Crossbred: Coarse, 40’« 7 - 71 11 -1.14 Crossbred: Coarse, 36’s : 64- 6-J .10 -104 SIi-p-es, tV-bred lambs... 114-124 16 -174 Slipes, 2-bred lambs... 9 -94 144-16 Slipes Leicester S - 84-124-14 Slypes, Lincoln 7:\ - 72 114-124 Victorian 'Wools. Half-bred: Super, 50 ; s-56’s 13 -14 17 -18 Crossbred: Medium, 46’s 8 - 9 134-144 Crossbred: Coarse, 40’s-44’s 7 - S 114—124 HEALTHY CONDITIONS IN BRADFORD