OUR YORKSHIRE LETTER.

Dominion, Volume 2, Issue 404, 13 January 1909, Page 10

OUR YORKSHIRE LETTER.

-.WOOL PURCHASES AND PKOSPECTIVE ■ : :■ PIIICES." "." : . -' . . (fKi. SPECIAL COHRESrONDBNT.) , ,-, : . ■ - . Bradford, Noveuiber 20, 1908. ;■ . The.opcßing of the final series of■ iyoo.l'sales for. tho current year neit"Tuesday directs, attention to the probable, course of values, and that, higher rates are certain is- practically agreed upon.by all sections of the trade." Circumstances have' fullyjiistifiecl the holding, over policy, of the Importers' and-Selling Brokers^i Committee; and it is now .eyidenf:tnaf. the .tide has turned; The interval has .been.characterised. by- the biggest; movement of the ' wholo year, I eome ) tremendous sales of wool, tops, and'yarns have been effected, in consuming centres, and it goes without, saying that. .there' will bo. a response'to all this, in Colemaii/.Street Wool Exchange next Tuesday. Notwithstanding' increased arrivals,'to the oxtent of about 50,000 bales, the. trade, is now in-a. temper to-lift the 1 entire lot, and brokers will find a: readiness-on-the part of buyers for tho'wool which,has.been such an absent factor through'the whole : y&. tonsiderable surprise seems to have -been expressed ■ m some quarters : at American wool Buyers operating so soon and , so freely at colonial centres,.as well as in Bradford for English. ileece. wool, but.if.a careful analysis is = made ot the actual state of. affairs, then their present action is fully justified. The finish of the ■ j n erles m J- 0 practically brought to an end the real colonial season, "new clip." wools j ng r, as a rule lar S el y available in November andJJecember. The coming series will to some extent be an exception; but after all it is possible to see where the bulk of the last colonial clip has goiie to. AH through this year it has been patent.that.the last Australasian and Cape cups nave moved-more slowly than their. , - pre'decessors, but. when, all is said and done n<? serious fault can/be found-with , .tho movement of the-ruw material: The home .trade ,'has stopped the breach in a very.creditable way, for when Continental buyers would hardly make'a bid in Ooleman Street, Yorkshiremen especially proved , game" enpugh:to take,wool when the outlook was decidedly ..black.' -The .following tabs, shews the supplies and'deliveries ofcolomal.wool,during:the past five years up to-the end of the fifth series,, and wo -have- added transit wools and direct.imports. Wo would specially t call the attention of the trade to the ; serious shrinkage in the takings of America, for m tins fact, we, have, an- explanation" for their present:increased activity in Australia.■ The total deliveries are as follow.-^- , - : ■ ' : : ''.

■;[■'■'-.. •-,' _. Homo Continental American .'.'.-. ■■ . .Gonsump- Consump-' Consnmp- .. . .»' . tion. tipn. V tioii. ■ n : ,:..-, 'Bales. : Bales. ' ; 'Bales. 1908 ... .... 829,000 1,205,000 ~ 78.000 Mnl ""• - 186,000I 86,000 1.263.000:-- 146,000 ■ .1908 ,;...,,,..- 693,000 ■■.-1,132,000 90,000' ™.5 ... .... 633,000: :911,000,-. 128,000' - J904. ........ 585,000 .808,000 74,000 1303 ... ...,599,000 . 917,000 ■ 59,000 1902 ........ 678,000- - 091,000 "■ 68,000 " }»oi • i,. ■ ■ .;. ,85i,c00 555,000 oo;ooo . .1900 ..,• ■ . .„- 019,000 ■ 795,000 '.. 53,000 - ,Durih ? . 1300 the.fifth and sixth eeries were .morgedjnto.onc'and-thc abpVeffgures relate- to the takings of tho trade' during the'whble' of tnat year. ■ ■' ■ ' . ' - , '.■ trade as a buyer' of wool still remainsvm the aggregate, the'largest consumer, tf-wo;take separate countries,;though,ivheri tlio entire Continent is looked at, the combined pur--Germany Belgium, and ItusTrtn l l s \ e f Me o e / the tnkings of the United Kingdomsß01 to 85 per.cent/of which-.we should say goes to the "West Uiding. -The fact is very significant, -that; those -Bradford,spinners who procluce their, own : tops, - can compete and <. pay an equal pneo with cither Erance or.Gerninny,' or, ■for..that matter, evcri ; .America, for the wools thejrwant, but when ; we come'.to. the rahkhnd ijJb,topmakefs-.who:biiy■ treiijpndous quantities' of wool, they. have.to .content thomselvos'with : the second and third;combine, broken,'pieces; necks nnd bellies;-; nil; of" Whi,cß vare -used - in=the production,or tops. It" all resolved itself into a. question, of price, and it is a subject well worth- considering, whether the Home' trade lias not sacrificed quality too much, at the cipenco of. cheapness.. This can bo looked at some, other day, for tho reply is that": topmakers would gladly produco superioiVcpmbings it they could command a corresponding price, .but so, long as tho rage is for a cheaper yarn, so long must , thpy produce that which-the' trmle wants. In- thej,.ta'ble below we show the-.tak-liigs of the trhde on export and Home'account during each series for tho last two years, nnd the figures-are well worth analysing —

v •'. ' ''■■ "• '■ :; : , 1907. 1907.' ;.-■ ■ ..Continental', ,Home. ■'.'■' . "'.', " ',!.''■ cpnsnmp-"; Icbneump- .." . ; -: ' ,'tiori. ■'.- tion.- ~ ■'•; ' ; .'■ '.'-■"••■ . -Bales. ' Bales. First series ... ... ... 60,000 77,000 becond series , 60,000 ,94,000 Ihird series- ~ ... 51,000 ... 92,000 Fourth series .;,.. ~.'. ..... 55,000 :. .<■■ 84,000 Fifth 'series ... ... ' ."..'; 33,000''• " 54,000 ji Totals ... ... ; ...259,000:.. 401,000 '"•' '.'.■■."• ■ ' •■■ ■' I 1908. .;• ■ .'1903. '(•■■■ = ... ',' .-"• Continental. • Home. i" , - ;■■ . , ; consump- consump- '■',-■ . '■'.-■ -,- , : . ■'.■! ..- ': .; , Hon.: : :'' '.''/'.tioa. ;_,-''., '::■-■.:.. '~' " '. ".'■'.. Bales. Bales'.■ First.series ...■<'■....- ... 70,000 81,000 Second,'series- .;.- ... ... 44,000 - ' 77,000 Ihird series ... ...: ... 51,000 . 00,000 lourth series '... ; r .'.. ■ ■.;:■ '76,000,' '■ 102,000 Fifth series .... ..../• ... 102,000'" ' ,109,000

; '; Totals ...... ~; ■ . ... 343,'000 459,000' .;iAl| eyes are to-day, fixed upon Coleman Street, andmuoh concern, is overywhere in' evidence over the future of.prices. ■ The' writer is not in favour ;of : any boom .being engineered, but a reasonable advance of 1\ to iO. per cent, is about justified. German "spinners have-ibe'en caught napping, .for, being confident in September , that' still. lower wool values were certain, they sold extensively forward at very low rates, and. are to-day, very ■.much.: chagrined. at: hay, ing to-cover' at a sensible. loss. It .seems as ■if lit all..Continental manufacturing: centres there is a unanimous"agreemeut that wqbl is "going.; to''be good property during the coming season; and all alike, (ire in a buying mood. ■No. doubt America is making': itself .felt, in a very material; way also. . If actual: trade conditions and the existing needs of. users dictate prices,'.'then there will be a permanence nbout values: whioh is : ardently-, to, be desired, both in ( the ■ interests ■ of, growers and users.- ■'.

;•■;. -. FURTHER UPWARD MOVEMENT.. ; The .past';ve'ek has .agrin. been characterised .by great activity,;:'ana prices are,:the turn; dearer. 'There, is ho. mistaking, the fact,:th■ t Bradford has.atlast emerged from 'its',late long season of. depression, tho feeling has entirely changed, and business is'doing whore even thre'o weeks ago nothing but stagnation obtained.! lairing, the last few days tnc-re has perhaps been Jess, activity, thai oven last week, but. this cau-only be .expected.; Thero has-been a treturnover both, in."wool,: tops, and 'yarns, , and'the.market we.irs an altogether different appearance to what .it. did. There- is still considerable, inquiry tu.et with,, and. in many cases", a. further good stroke of business could be done: but for the prohibitive prices' which many are asking. .--Several- topniakers have .withdrawn quotations altogether, .arid are unwilling to.quote' either- for present or forward delivery until they see how London goes. It is generally expected that the forthcoming series will■ open ■ strong, and . that• values .for everything will show a sensible advance. It is anticipated that merinos will move up 5 to 74.per cent;, and crbssbreds an all round. t° per cent. Practically speaking, everybody will bo in the market, and many topniakers.will be i.forced to buy at one price or another. The recent wave of buyWg has found everyone on the short .side; and every : quality, has been quite, besy'to sell. Wo 1 stocks are completely exhausted, and there is a scarcity of fine tops for present delivery. ■ A big-weight of. business has been done on forward'account, topmaker3 being willing to take the l.isk by selling for next Jaiuwry to May delivery-at. prices', they would not accept for spot delivery. The fact .'is all topmakors have,enough on .to meet their sales until fresh supplies are secured in London, and also arrivals are to hand from Australia. The mini:nu:ii price to-day for a super 60s ton is 23d; , , with 64's a penny more. Some aro asking even 23} d. for.the former, but, as already said, topniakers are in niaiiy cases retusmg to quote until more light is thrown on to tho situation. . Crossbreds-are all higher on tho week, most quotations being lUd. for a good 40 s, though last Monday.a "firm "offer" of lid. would have secured'some'good standard combings from several well-known topniakers. There has been, considerable sales of ■yarns, no doubt inuoh speculation having been indulged- lii by many, most quotations for two-folds b> ins a penny up from the lowest selling point. 'Ueio is more , cheerfulness'in the mohair depar'. nnnt, but not, a great increase of business.