OUR YORKSHIRE LETTER

Dominion, Volume 2, Issue 621, 25 September 1909, Page 19

OUR YORKSHIRE LETTER

■ aOOD OUTLOOK FOE THE COMING. NEW v 7 :-7.'.: -;■ > CLIP. ; 7 :.:->■■■:■'■ , : : 7.(From Oar Special Correspondent.) ■'. . .",..- Bradford, August 13,1D0D. . Every boat.tliat is .ledving\Loiulou for Australia anc] .calling at .Marseilles. .Naples/or . Brimlisi,. is carryiiiu iimonj its .passengers a lurgb number of English.anil Continental wool buyers,- all destined to. operato at ■ the. various, ' selling. centres ,in Austfnlnsia, this moaning !• that all eyes are.now,fust bsiiig.fooussed upon •' another .now season, which opens In-Adelaide '.. on September ' 23. From tho • Wist'- Riding of Yorfcshiro all tho old flrins will .bo represented,' . but as far us pne cun learn the'ro \vi!l.bo only two fresh faces, although l'darway . several new.fii'nis will bo, represented by buying ■■ brokersjon. the 'spot, firms: from .both Jlefbourno and Sydney haying been over in the •West Riding seeing their-old clientele and endeavouring to secure fresh buying commissions. This,all means that a-> much'interest as evoi; . -will ho. centred ih Australia, andns far as 0110 can sco the colonial, sales-will, be .larger and . more.important..than'-ever. .7 .'..'•'■.'-'■' ,'OUTLOOK FOR7THE' COMING" SBASON,77: 7 When thi3 .letter', sees .daylight all'. wool-T growers .'will. ba 'on the qiii.-.vive,.:nnd'full. of cxpeetaricj; regarding the coining season.;.: On'o' and all will; be surmising as to the, future of prices, ! hiid : wondering if tho present /good' , .'likely ..to ..continue. •-In, my';hpncst. opinion. -Lfeel'l can' allay such fears : by'statr ing straight.off that Very good prices.aro/cer7 ; tauit'o'-bc paid', at all colonial selling centresfor7netv, clip; wools,: : and something' totally.iin-. foreseen- will have to take placo.if .thcr6,.is any. set-back at all., I. must admit /that at onotimo; I favoured the' opinion that as the time drew near,-for.. the colonial auctions ithero -might bo just a little' "trimming" on;.tliis'sido'i to buy..wool t a trills -but there-will-be a'very.diiferent. opinion, in' Adc-. laide 6H'Sopteinber 23 next,to. what there 'was at- the'corresponding-scries, a year ago.. Hqw. well/it'would suit'tho, same buyers tp/pick.l up wool.on tho samo.'basis, as they did .then!; Rowoycr, ■ prices' to-day stand,- on ■an altogether . different;. level to what they did then, and in-' stead of operators,buying w'ool on a super,'CO's top basis-of 20d.,-.per lb„ they .will bo opcratf iug: inbro. likely on ii basis- of. 2Gd,. to-:28j(l. Tliis'wil(,tell a far;different talis.in'"tho',price, of. tt'obl/ to what.was seentw'elvo' months ago, arid growers': can 1 .rest/satisfied that tlioy will■receive,:inlc(pinto; remuneration for their year's work when'their, clip comes" to bo sold. .There mo" rien: here/who,linve the courage of their, conviotions.'-'nnd, who frankly stato that, wo' shall seo.lowcr,,valuos :for.morino .wool by.itha ond of October,-but such: individuals'.seora'': to' 'mo'soniewlint:out of.touch ;with:tho eons'iimpr Hvo .'requirements :bf the world,- and. wliilo no /doubt • .wo shall: see 'Australia v tm'ii. out/an-.- ■ other. - record icliji still the 'wool'-.. grown/-? will be ,110 '.more' than, is "required to keep going the 7spmdle3 -.and, lobms/'pf.both. this/.country ;aha. ■'Bbrdadt'-^.r;'-.'- ,7.', i v.-V. 7' -:-/ '7 ' V .:-■ •'/"■/■/ : J:/ ] :;7^/ : tLEAitiiNCE ;Oii :All; stocks, /''.-fc < : The .wool/trade-is'iio>v : passing: through tho 'longest .vacation 'of /the. whole ;yenr,' nnd-while' holidays 'a^e'everywhere still/the/ ti'ide"is!fairly'- alive.- and the pulse is beating" strong. It.iu'rist bo said that so -far as tho /IVest Riding is' concerned stocks of. tho rawmatcrial ihava been/very.■ Sensibly, augmented all through : the /season, .'.and/h '.bigger weight of- wool in. n given, timd: never ./went., to .Bradford;, in. tho: history of ..that- city,/-. However,-thero'arc. to-day. :signs,'that-.stocks are, fast getting oxhaustqd, business nns':beenso;gbod and/consumption so largbthat, supplies ore .to-day only, normal;, and .beforo -iioy \ qlip ~iyools•/can : arrive from" Australia, :there-' is. every .chance of there being tho customary. squeeze...: Already wo, have: heard : a' good deal/oil,/the question, hut .the .fact of .all combers going day andniglit is ; proof positive /that stocks; :aro : no.t cxliausted, and -'.there, is 'still a fair-weight of, raw./ niatoriar-avail-/ 'able.-'At the/same time, there is'.nothing, by way ,of, a'surplus,-and the '.wdßl/iu-.haud: will all, be absorbod-when fresh 'arrivals 'afo/available.'') "When' one/thinks tliatMast ;ycar's'■■ Aus-, 'trilasiriii; clip showetj'a surplus oE-233,000 bales;/it is.indeeda iriarvellous/aijcomplis/'itiient that ■there are/not siirpluses, and .it eortftihly-is/a-:big7fcat/:to' find .th:it" tliis ,largo ;.irierda'*e''has' been lifted -and,nb'sorbed under/constantly Hs-i ing valuos/'./It-all proves what I.'said.-at the, /time,-namely, that, tho slump of lHOSwas.to a largb extent of [na. ./artificial natur'e;.-.;for.'-.jio sooner "ihad- 1 the: commercial world -/gained -its equilibrium',: than wool prices .responded, '• arid; !machinery-,/got-on ..to.,runiiing in tllo samo. upr-Z /irjiil/way/' -at Ihb ino'mjnt is-'M .'very/.ves'ed'/bn'e^ias^fcrj-wfi'ethcr. /tiirn/blit; another vlarge, increasu /'during tho-•burfent;-wbol iyoai',-'.,and.if- the increaso/is -not /-m'or&/th'an''2s,wo:bales,/then J: cannot, seb.how,: '"varnosTdtm !- bd: : muclii/diCefettt/'tb> ,: »yhat : thcy''aro ; i tb-day./-jv/:;'.-.7-r:-- : -;'::..?'/* -:'.-'-//''7/, ■■■'"-'-,''\' ■'■''■'.- . RESTING' ; ON:'iA" :: CONSUM^TIV33/. . ■p-J:.%- : iy y;//:; //.DASIS.;/'/: \~.iy : ?;'}■■ v" ; ; .//Tiib'mbst ,6f tho wool trade :tb-day. consists in/trade boing 'good,; mills busy. and/trade prospects, good? / Tiiat/.iß the only 'foundation'': which//cau/.bb/ called,' satisfactory; in-'other wordsj -domand/and'; consumption, is equal/.tb'-'suppHes.' /.So/long as'theso/conditions obtain 'values -'can' tako/care of themselves, /and look/\yhere7we will-nn/iir-of .activityi7bbtains in : manufacturing /circles.; alike/ 7it 'is- really: surprising /IiDW: steadily/mills '.throughout .York- 1 snirq,- tho,,'. Continent,'/.and -America liavo / got,' back -/to,'.' -'working---fiill -time,/ and/if therb /has ■not '-.beeii/.-ajtug'ethorlitho- booui /of /i 007,'. still '.all mills alike have 'a steady; pace,, and this7last,/:fpur/ nibnths'/oyertimo/.-has/ bcon . acommon /experience.' - .Herb/ we /havej.tho secret, '.6f-/wbblV'pr6spority,,/and prices/:would'■ hover-, have '.held so ..well.;intact,.but for', the continu/ ous /demand 'for ■ the raw ■ -fealcrinl. 7 -I; was - in' company., the-other "day/ with a - member -■ of a'.llrmi.iri the; IJradl'ord: district,, w-ho,run two, largo /mills;* /and .naturally our conversation turned'.' unori:' wool iprices and - prospeets/ - ...Wo bottr : admitted, that wool was fairly. dear,. and .'yet the .manufacturer 'said .that although ho .would liko-to sdo'/things.down,-ho "had -to'ad: ' : mit':;that he /saw very .littlo' chanco indecd.of /values'/coming/down,';■• and'.he freely-./stated, that/"consumption must ■ bo. vory ,big," ' arid; larger" than maiiy/''people.:bavb..any- idea of;"; That iis/bxa'ctly-the crux of, tho. whqlq/qucstioii. '-'I/am/satisfied that-tho';.combined,con-sumptive/Capacity of thp/'.Home, Continental,; , /And''American trades;is/exceedingly large,,and the ."quantity .of -, raw.,; material which, is - daily being.>6hiftod''is-almost;;pasV tho .comprehension of the 'average individual. '. I' have often heard ; it.'/said-'-'it's ' a-, wonder -whore .all.-, the' wool-.' goos , to," and' so/ it/is.'■■-. Yet,//when one. thinks of: the oiidless '.variety of materials into ■which' wool is finding .its-'way, even from stock-: ; ings to .felt'hats, .he can. see that the avenues of absorption/are' indeed "legion. -/■'-•'..'•:•'•• :■*'.-'.-': ; /ljputh --African.-,merinos /occupy exactly : the ; same /position as Australian merinos,-and the outlook /for 'theso /is- exactly .-tho^samo./rCape'! wnol3:' aro, 'selling, as /.well, as 'ever, -but tho strongest:/demand 'is: undoubtedly'■-' for■-. long twelve:months- ; ,combing.w ; ool3.::>. /-..-:--.";.

:/i;;:// AN ;:IMPEOWNGrsiTOATION;'-.:., ; /,;/, ■ Sinco,l-last reviewed tho situation, a marked change' for: the bettor has /taken pldcxy- every-, thing.;feeling.;the/impetus / of ■ Van• .increased demand, botu/for.,wool'- and. tops. • < It.is com-, parativ'dy .casy'vto '.traco; the origin 'of'this,/ ,the ; ,'improvement. being entirely ,\tho. outcome-, of, an.'.increased 'demand .on'the'part of. the Spinner, and ■'■ manufacturer .-.■; In. thß Vaggrcga'to a fair/weight of .business has been done, and without /doubt, the,; most satisfactory. feature of thb; Jtradb', is ;; an improvement in- coarsb' and: .medium-crossbreds./,.There;is^no disguising the fact, that jn- the casb of-. 40's,/.holders .were, somewhat/pessimistic, '.there being: 6bmo sales! made as'low.as ll|d;, .but to-day, the-robk botVom.prices cannot be called less than, 12Jd., and a very; diifefcnt : spirit prevails to what obtained: a fortnight ago. /There is; a! grow-; ihg' conviction .that; business/is 'going to be better, and'thiit'holders have nothing to lose by ,waiting. .Fashions are not running'upon strong crossbreds,'but all the same there seems to ho '■■sufficient; demand .in:tho aggregate,' to' maintain prices, with a .possible slight improvement. : Tho .-.business' recently..: done.. ,is '..the direct outcome/of; more yarn orders placed, and so. long : ;'os.' ths;.raw /material : is!:'shifted,■ ;val'.ics,:will-remain:;i'irm.-;Considerablo quantities of merino tops, have- been sold,: and ,horo :'a: very, .confident feeling: obtains,' Some good .weights have been "shifted,! and while as. yet thero is.no complaint as to nbsenco of stocks, still tho accumulations of tho last few months at! railway'.'.depots,.'warehouses, arid ,combers are'..fast' dwindling, and !tho trade will be ready to lift the next Australian and ■ South 'American' 'clips. -Tho .'lowest price that snperOO's earl bo bought at is.SGJd.,. with Oi's 0t,.'27d. to 27Jd., according to tho.' cliarncter of'tho top.' Althongb this really: is a holiday 'peribd.'.stillthoro 'is very,/little sign of this on!' Change, all alike being keen and alert to;sell. Consumption is ycry.woll maintained, and .thero havo been more yarn orders placed. Taking things all round thore is at, the raw material end a very healthy stato of affairs ntlingi'flnd there is every appcarancb that wo aro going to have a good aucum'u trade. Mills are well omploycd,' and tho consumption of •worsted- fabrics is still.satisfactory.. Spinners are all well employed, and •'■morb particulars have lately como to hand. 'Mohair is not as active, as it;,was, bat where, sales are effected full recent rates .aro made. There is a much larger/consumption' of Turkey than. Cape, the latter being on tho,quiet,side..'.: ' .