OUR YORKSHIRE LETTER.

Dominion, Volume 4, Issue 932, 27 September 1910, Page 8

OUR YORKSHIRE LETTER.

OUTLOOK FOR THE COMING NEW CLIP. (From Our Special Correspondent.! Bradford, August 19, 1910. The time of tho year has arrived ,when in the natural order of things Australian. wool-growers, as well as those in South Africa and-South America will be looking forward with increasing interest to the sale of their new clip wools. That time, eclipses all others, due to the fact that the-labour and toil of the past year is expected to bring its adequate return.' There ,is no'question of n doubt th<\t all alike have cause to'look back upon the [past twelve months with feelings of intense satisfaction, although buyers naturally feel that the year has not; been attended with that good which they might have expected. .The general complaint is that wool values have all clang been ahead of the combed article, ■and there is truth in that ' statement. Only , this >veek I heard a big Bradford top-maker ■ complaiining ' bitterly .that while spinners, were., enjoying a. magnificent'.time, and making heaps of money, they, on the'other'hand, found it jiext to. impossible to make, ends meet, all because' wool was, the dearest article on* the market. Of course, growers will not think so, each one -looking at -the situation from his own. particular standpoint. All ihe same the time has, arrived tor buyersto; leave. both England : and the Continent for' Australia, and, the present is - therefore .an opportune hour -for looking squarely at things as they stand to-day, and try, in some. humble way 'to estimate, the-future. ; All the old'contingent are going out, although not a single one ; likes . the ' prospect of being called upon to pay the high prices which - seem certain to' obtain at the opening.' ■

: WHERE WOOLS STAND. '.; J,list; for, a' moment let us look' at,'the actual • standing., of >. the ;raw, 1 material.When all. is; said ,ind dphe. Coleman Street plays, an important part in determining tho price ■of thp raw material in. tho colonies. It will; be seen from the table, below that .the price of South Australian-grown wool from the Midland district is practically, the same'.as ! obtained. in'; July a;year - ago,; and.-it'[was then generally acceded that wool was in; no sense, cheap. The same view is held to-day :; by-everyone, .and without doubt. there;is a good deal to be said upon the point. . The following are average prices for -.the descriptions set' -forth as' ruling at; 'the 1 July- of (London. sales

CURRENT PRICES" FOR TOPS; ; • . .Let.us now see what are current.prices ifor' the; combed..article,, for .'after, all it/. ; is... this which really ..determines the price.of- the rayr material. The followv ring-' table.shows itkday's, prices for' sttra-i dard descriptions of top's compared -with' the corresponding date a year -ago ■ '' '\ Aug 10.Aug.20 f" : 1909. ' 1910.- : Description. -. ; d. d. ; -

A BRIGHT OUTLOOK. The'future." as;far .'as one can, see, is bright from... a, wool-grower's standpoint, thanks 1 to the .excolient manufacturing which . still ', obtain throughout

Europe. As I have repeatedly said, the ( textile industry of Great Britain is today in the van, and not even the Continent can boast ot' the activity that is seen in tho TVest Riding of Yorkshire. There seems to' be on the Continent a feeling that we ought to have lower prices as a. new season opens' in Australia, and in a large measure the samo - obtains in Yorkshire, particularly among, importers. The note of warning, about to-day's values being "dangerous" from an. importer's standpoint has already been sounded in liigh'circles, arid I do not think anyone is justified in looking for higher prices. All the same; the question arises: Where- is cheaper wool going to .come from?-- We-are now passing through tho longest vacation of tho whole' year, . August being undoubtedly •a holiday-' month. > throughout England, and yet. for all that active markets are f-een in Bradford, and spinners 'hardly, know which way to turn to .oblige their customers. All along,. users have been looking .forward for lower prices during August and September, but that goal seems to bo as far .off as ever. Australia turned out last year an, increase of 146,000 bales, but where has the wool gone to? No man has been able to' eat the same, and'yet unless, I am greatly .mistaken there, is, going to be the usual autumn squeeze in the West Riding. Several Bradford commission . wool-combers are at present complaining; that they, do not see a prospect of 'being able to keep their combs.; running day and night like they havo been all through this'yearMt is: not. that topmukers are, slack,- or that they have, no contract to execute.; More than or.e firm have less combs, running during the_ night, all because tnere. is less wool offering.- .This show-s conclusively stocks- are' fast dwindling, and yet six weeks have'to elapse before the next seribs of London sales open. Of course, considerable weights of Queensland "new clip" are. arriving' and going, direct to; manufacturing;' centres, . and . 20,000, bales ! tire soon licked-up when there is a host of hungry; topmakers., ready ; for devouring the-nioal. During the. past month quite ft different complexion- has-come over the wool situation, the' real."cause, arising in London at the last, series of; General expectations' were - in favour - ' of a slight reaction, but everybody-knows that, the opposite took place, liven "bears" at Ronbaix and. Antwerp had the wind taken out rf their sails, • and sir.ee there has been, no effort,-'made to further sell down the market; ; in ; ; view, of ; the; open-' , ing 'of tho season in Australia;.' Of-course' there continues to be a, difference of about 35: centimes in the', tjubtations. for : spot, • and,: delivery.: early ■ next' year. - In, 'Yorkshire renewed, confidence fias" been creatbd by .' the active markets 'seen r during the past. three; weeks, •" and every description seems to have s taken , oh' a new .lease ; of life.. Many . buyers;have left ; this, week; to' join (lie Australian ; boat ! at. Marsailics.. .Not';dne>likes';tbe.'sititoH n n.:i : '<!?; ,: '/V-: > i * : . that to-buy wool on a. basis of 2s.' 4d. to

2s. sd. for a Gi's top is a highly danger-, I ous operation. There can be no doubt upon that point, and .nobody need be surprised if an effort is'made. to. buy at; .11 shade loss. There is already some talk about trying to get in at about 2s. 3d. for a good lil's, but a different state of affairs will have to. obtain to what is seen to-day. However, the outlook appears to me to be excellent for the coming season, but all the same I do not think any grower is justified in looking for a higher range of values. ; Wool is certainly dear enough, and we shall do exceedingly well if to-day's prices are maintained. America can bo dismissed'entirely for the time' being, and things will have to alter considerably if much buying is done in any •market this side lof Christmas. 1., am strongly inclined to think that most of .their operations during the coming sea-, son will .take, place in London, for after , the disastrous losses of last year, nobody at present ,seems i to be in, any fettle\ for going in heavily again. Things somehow are not getting on their feet as they' should do across the Atlantic, though. strong efforts are being made to talk up the situation, and so inspire confidence. The best move of, all would- be. tho placing of good piece orders for next spring,, but these .are,not coming Off. •:

GREASE MERINO ,/• ' 1909/ 1910. Higher \ . July. July, than : , Av'age Av'age July 1 ■ . .. per lb: per lb. . 1909. . " . d. d. . d. d. Per cent. Vic.:. Western, • . >• ■/ A'?. . good qual; and . '■ condition ...... . 16I-17J 16-161 ' 4.tt # N.S.W.:, Kiver- ' •• • : '.ina,; good staple . and condition ■ 14M5' 14-141 v 3.3B*' N.S.W. 1 N. Kng- . V . V ' 'land,'finei)lu'ish" I4jil5' 14-15 . 1.69* Qu.: Central, good staple, fair : . .' • . i cflnd. 12-13. ... 13-14> 8.00 S. Ausf.Hid- • . ; - •; ' V. ; * lands, fair • . v • , . length and . •: I- cond. : -11-12 11.12 ' . —' N.Z.: Soijth is-: ; land, fair clwr-... ' actor.; 11-12 11}-12 2.17 Natal:. . Fair '• •' . . . . staple,' skirt'y..;'; 7J-81'...9-94 • 15.63 ;;;■; .SCOURED JIERIXO. ■ :v. Vic.: Fair body ./• and:, colour 22£-23J'!v'. 23r34 2.17 .Qu.:.,Good' qual- . .. . , ■Jty,. colour,' and ■; '. ' ... cond. 22)i-23V ' 2i-26 8.69 ;N;S.W.:'" Fhir . " VA- . pink, . : rather ' ...... ', . . •fatty .19-20 ;X:'20-2l /.. 5.12 N.Z,: . Fair' body . : ,.. ■ arid colour '20i-2H '' 22-23 • i.7.14 ■' Cape: Kaii'rarian, ' . ■ short,, light . 16J-17J 191-205 17.64 V'' '»'.' *I.ower.

70Vcolohial tops ; ,28 •. '...30 fttV colonial tops . : 27} v 29 \60's-colonial .tops,super . ........ 27';2860's: colonial tops, ordinary ... 2G 27 ' 58's. colonial, tops,, average ....'.24 25J ■ .SG's Mloiiar tops,;. average .... 22 .. 23J ■MY colonial tops; average /...; 18b' ■ : 201 18's, colonial, tops; average .•... . 154"; 17 46'scolonial tops,' prepared'li| .... -17 . 46's. colonial tops,' cardcd 14J - '' 1GJ j44's,'colonial tops,i prepared;.... 13$ v 15J 10's colonial tops,' prepared :. 13 ' 15 / 40's colonial tops, ; carded lli l.li 36's colonial-tops, prepared ',. ;1H" ■ 13J