ENGLISH WOOL LETIER,

Press, Volume LX, Issue 11501, 6 February 1903, Page 9

ENGLISH WOOL LETIER,

"Weekly Press and Referee."

JtIRST.-UASS OUTLOOK FOR CROSSBRED WOOLS.

BRADFORD, December 26. Christmas is here once more, and to iroohaeft in particular this time of the year affords them an opportunity of taking stock - to cc* where they stand, and if this Christ-mas-tide does not find them with everything that heart could desire, still there M very much for which -we may feel thankfull The most satisfactory feature to-day it the great recovery that the last few months har« witnessed in coarse and medium orcesbreds, and those 'who have experienced the drastic effects of continual foiling valuei in crossbreds since 1899, find to-dey in improved values and markets a very great deal over which they can rejodce. The repeated buying of big weights of 40' ato 50's wools when prices Rooked as if they tould not possibly decline further, and then values to go lower still, has been sufficient to cause a good deal of sadnew and despondency to come over crossbred departments. But to-day we see all gloom dispelled, and where pwsdmiem was the ruling factor a while back, optimism ©f a pronounced type is the feature of today's market everywhere. The late showing of wool in London in regard to crossbreds, together with repetition of the same lile and buoyancy in Liverpool last Tuesday, all goe-s to show that crossbreds have *t last come to enjoy popular favour, and on every hand support is being given. Three months back plenty of people -would not (ouch crossbreds «t all, simply because they had very little faith in tiw-m. but to-day these very parties are among the keenest buyers, especially- of wools, and if they can at all find v man wanting to sell at i fraction lews, they are very ready to jump Xt anytuing he hue. Kven. English jrrades, which have for months been sticking *n the mire .and «oul<l not be- sold ut anything Bear cost, priw, have at lost begun h> move out of liam} nnd to show ii fractional profit, and when despised: English grades begin to canuruuid the support of the market, it may be taken for granted that tibings are in m> sense bad. The great cry to-day is tihat we want wool, bat it etrikea me that mtsn are going to find plenty w •work between now and next July to* obtain their full compliment. The New Z*ahad new clip -will be very welcome w-hen tt leads. WHAT THE TRANSFORMATION IS CROSSBREDS MEANS.

In no English, paper nor anywhere elso that I know of, has it been clearly shown ■what the actual advances were at the hut ■cries of London sales for crossbred wools, though it was roughly stated that the adVance had betui from 20 to 25 per cent. Am an actual fact, New Zealand halfhred

wper SO'e-56's showed an improvement of 9.75 per cent., medium wook, ear 46'e, .24,75, vonrse. »uy 4G'e, 20.00 yxr cent., and courree 36'». 21.62. This im th« highest lise of the whole yeaa , , and those having stock have just t-ause for congratulation at .roch a marked improvement. It is-, however, when we look hack a rear that we have the reasons for rejoicing. Towaid* the end "of 1901 the market for tin

pressed, Indeed, that it was difficult to account for so great a collapse. Stock taking being here, I have thought it advisable to look over tho prevaiDng pricea in December a year ago, and the following table is eminently satisfactory, showing as it does a great improvement on the year. I "deal expressly with crossbred wools, and invite the reader's attention to the improvement made:— Higher than December 1901. N.Z. Crossbreds. percent. Halfbred, super, 50s-56's ... 32.35 CrossDred, medium, 46's ... 89.18 Crossbred, ooarje, 40's ... 54.28 Crossbred, coarse, 36's ... 40.62 Vie. Crossbreds. Halfbred. super, 50V56'3 ... 15.90 Crossbred, medium. 46's ... 54.33 Crossbred, coarse, 40'»-44's ... 44.68 Prices in December, 1901, were the lowest in the history of the world for crossbred wools, hence the recuperative powers of the market have been very pronounced. With all the great talk of shortage in merinos, Victorian grease has only advanced 29 per cent, on the whole year. New South Wales (New England) wools ,40 per cent., Queensland 34 per cent., &ouui Australian 40 per cent., and New Zealand (Canterbury) merinos 31 per cent. This shows a, more quickened market and a faster pace, in the case of croesbreds, than it does in the- case of fine merinos.

SOUTH AMERICAN CROSSBREDS IN LIVERPOOL. The first sale of the season in Liverpool three days ago of River Plate new clip ■wools which consisted mostly of croaebreds, ! shows a very strong market for these qualities, and on ull aidee it was acknowledged that things were remarkably good. Bradford buyers were present in good numbers, and, gave a first-class account of themselves. The prices realised were fully en a par with those lately ruling in London, hence the harmonious agreement between the two centres helped to facilitate and strengthen any vacillation which may have been apparent in Bradford since London finished. Some have expressed fears that low crossbred values have moved up too fast to remain permanent, while it hae even been whispered that 40's tops could be bought a fraction cheapen but I rather incline to think that this statement must be treated as eimply tap-room talk. Several of our very best top-makers have assured me again and again that they ore obtaining quite as much as ever they did, that their quotations are no different from what they were three weeks and a month back, hence prices here must be described as very firm and steady. As I have said before, I hardly expect to ,ccc values go up much further yet, unites there is another move in yarns and pieces, and no doubt our manufacturers are doing their level beijt in pushing crossbred made goods. It is not too much to say that crossbred made goods have come to the front faster than tie vaet majority expected, but when values get to be fairly high, and higher than those catering for the million think fabrics should be ruling, then it is that there is quite a rush for the cheaper made goods- No doubt a more determined effort has been made on the part of fabric buyers to push crossbred fabrics through fear of there being a -repetition of what took place in 1899. When the bubble buret nine out of every ten were saddled with some tremendous stocks which nearly cost them their life, so to-day rather than run the risk of helping merinos over the stile, they are now at the other extreme and pursuing a policy of "let alone" till such times as fine soft goods get back to more reasonable limits. Although orossbreds nave made euch a big jump, yet on 40's wools which were selling a year ago at 4d to per lb, wools do not look dear to-day at 6{d to 7d per lb, but merinos do look dear when we are having to pay a shilling per lib with a shrinkage far heavier than % the case in crossbreds. It is this fact that has been sufficient to induce popular support to go on to crossbreds.

GREAT BRISKNESS IN MILLS. Textile conditions in Yorkshire in general most be regarded as very satisfactory as the year draws to a close, in fact, although I have spent my whole life in connection -with tlieee trades, I bare not known a year end/ with milk generally so busy as they are to-day. Bradford spinners are all as busy as they can possibly be, and the quantity of yarns that are being turned out ia heavy in the aggregate. A year ago - our, Botany spinners were the busiest because "Shey were spinning very fine mbrinos which meant a good deal of spinning over with not an output in weight anything ' near that of to-day. It is well known that on the present occasion crossbred spinners are running their frames for all they ore worth, and if male hands could be obtained, then machinery would have to be run over-time as well. Some readers may know and some may not know, but in wonted spinning a large quantity of female help is employed which English factory laws prevent from working more than ten hours per day, only men over eighteen "--ears of age being allowed to work overtime in factories. This is a very wise arrangement, but it means the handicapping of some spinners who could like to run two or three hours overtime' per day. but there being no help for it the best has to be made of the position. But this briskness is not confined simply to yam spinners, in outside woollen districts there is also a scene of activity of an highly satisfactory nature. In Huddersfield and neighbourhood most mills are running either oveMime or all night. Round Devrsbury, Batley and neighbourhood there is the same briskness there, while Leeds manufacturers we fairly well employed. I was asked the other day to explain why woollen.' mills were so busy, as our export trade did not show that advance sufficient in itself to bring about this almost unparalleled briskness. I explained it in this way, and actual fade amply support me. It is acknowledged to-day on all sides that West Riding woollen mills are producing fabrics which are being largely consumed by the gentler sex than was the oase> two or three years back. Woollen manufacturers aie to-day producing nice showy mixture tweeds, zibejines, mohair, and wool mixtures, which are all selling largely for ladies' jackets, frocks and coats, and as

these are also being taken for export, it is making our woollen factories very busy indeed. This w a new departure, and a field hitherto unexploited, hence it is not too much to say that woollen manufacturers having once tatfted of these spoils, they will take good care to try to produce something fashionable and tasty in the future. . ■' , ALL AVAILABLE WOOLS ARE WANTED.

It is rather a difficult time of the year to say mu'jli about the future, its immediate prospects, and what ie likely to obtain during 1903; Still the outlook must be considered as very good, and in the case of crostibreds, even though the markets of Europe are confronted with the River P.ate new clip, and also that from New Zealand not very fur ahead, still, it is not too much to say that there is every prospect ol today's "values continuing. liie iSouth American clip i* now being marketed as fast ac possible, and it is being looked up to for the time being as bridging the gulf between dear merinos and new clip New Zealand eixmbrals. Bradford users would far rather spin the colonial article than South American wools—the former will spin more freely, and produce softer yaras than the latter—but in these days South American produce is filling a very useful sphere by helping out tlw needs of European markets. Some heavy contracts are fixed up for delivery, especially in crossbreds, during the first, tliwe months of the new year, and these will absorb practically the whole of the wools available to-day? If there is any giving way it will be when the bulk of the new woo!a arrive from New Zealand, but as it is now certain there will be a big shortage in Australian wools, men will be compelled to help out their supplies by taking New Zealand's. The market ■was quite disconcerted laet Monday witlh our daily morning paper, the "Observer,"' publishing a Sydney letter from its correspondent, in which he emphatically says that "taking the general run of tops available on the Bradford market-, the regular counts can be made out of Sydney bought wools at common 60's 22d to 22£ d, super 60' a 23d to 24d, sbafty 708 24* dto 25d." If that is correct, then Sydney prices are ljd per lb below London, for topmakers Lere who bought wool in London at iche recent series are finding that 60'e tops to-day are costing anywhere from 25£ dto 26£ d per lb. It the quotations given are trustworthy, then our direct importers will once more be able to sell and do business, while topmakers only operating in London will be stuck fast, and we shall see during the next month who are the parties that are doing the. tiade. If these are Sydney prioes, I hazard the opinion that we shall see no further improvement in merinos yet awhile, because direct importera will be able to supply and keep going our spinners. At the same time, in all qualities, including low crosebreds,,to-day's prices bid fair to last, and ail the wool coming to hand will be wanted.