YORKSHIRE LETTER.

Dominion, Volume 5, Issue 1266, 23 October 1911, Page 7

YORKSHIRE LETTER.

$ SOME POINTS OF INTEREST AND nrroiiTANCE. IKrom Our Special Correspondent.! Bradford, Pr ptember ?. Last Monday a now i-olo:iial selling season was inaugurated at Sydney, where Hie first of Hie regular weekly mictions began. We cannot say that ivc are altogether satisfied with tho eal)led results the -uradtord morning paper containing intelligence, frnni its own correspondent, which slates that "good merinos were very firm, and short, shabby sorts sold in buyers favour. Spinners GO's wool will cost 111 Bradford 2s. 2!d„ Ill's 2s. 3d., and 70's 2s. Oil. ' We cannot say that this is very satisfactory news, a.nd it certainly looks on '■he surface as if wool is cheaper than is actually stated. The language employed is rather significant when the authority says that "spinners' Gt's tops Will cost 2s. 3d." Many people have asked tho question: Does not that indicate a slight weakness? Wo think it does, for at a small Melbourne sale on the previous lue..day, Bradford buyers cabled that (Us would cost 2s. 3!d. It is generally understood that an average Bradford Gis' can ho brought in at about id. less than a so-called spinner's top, for "whereas the latter usually want a top made from pure greasy Australian wool, topmakers in the majority of cases blend their wools with Hazamet, Cane, and oftentimes South American. Even a spinner's Gt's at 2s. 3d. is a price which cannot be grumbled at to-day, but it is not the price which is expected to rule all through the coming season. It is just possible that we aro going to see repeated tho same experience which has been seen during the marketing of the recent English clip. Tho demand has been so keen that buyers everywhere have paid the uttermost farthing, tho result being that everyone is to-day complaining tliat they cannot make a profit. Of course, the Australian clip is an altogether different thing to the marketing of the flecces of 30 million sheep, and, all things considered, we are disposed to say that the Australian season has opened in a very auspicious wav. We shall bo much surprised if lower limits are not cabled out to the various selling centres in Australia before the end of September, for in Bradford no one ventures to say that the season's business is going to be conducted on a limit of 2s. 3d. for 64'; tops. At least, that is not the idea of the home trade at present, but if Continental buyers set tho pace, and _are willing to pay these prices, then Yorkshire representatives will have to follow suite. All the same, we cannot see that Bradford will be willing to go on at to-day's prices, and it looks to the majority as if 2s. 2d. will be nearer an actual buying basis in Australia at no distant date. SATISFACTION AT A BETTER. GROWN CLIP. All our news is to the efFcct that a bettor-grown clip is in progress of being shorn, _ and what samples have arrived from Northern and Western Queensland, as well as the north-western part of New South Wales, all indicate an improvement on last year's clip. These should give better manufacturing results, for therti is nothing like a well-grown and sound staple for producing good tops, yarns, and pieces. The reader may perhaps not know, but when a clip is wellgrown and sound, there is always far more pleasure in handling same, while tho stand in cost is usually a fraction less than buyers calculate. A large quantity of tho wools purchased last season produced 2 to 3 per cent, less than had been generally estimated, the result being that tops have cost all through the year more than they should have ' done. There is nothing worse to skill than earth, sand, and vegetable matter, for even the latter oftentimes contains moisture and other fatty substances which on going through the scouring bowls and the carbonising operation, means a heavier shrinkage than the buyer estimated. All this falls upon the cost of tho clean, scoured article, and many people have this year got into hot water on this very ground. But the greatest satisfaction of .all arises when a clip is sound, for a user knows that it always costs less to manipulate a well-grown :lip than one that is short, mushy, and :levoid of life and elasticity in the fibre. Tho trade is looking forward with con;iderab!o interest to the openinj of tho \delaidc season on the 19th instant. A fairly good selection is anticipated, anil ive are glad to hear that South Australian wools are well-grown and sound. As far as we can see, there is every prospect of a satisfactory sale, but somehow wo have an impression that, buyers ivill try to operate on a basis of 2Gd. to !G!d. for Gl's tops. Bradford is going to :ie'well-represented; in fact, all through iho coming sea-son Bradford importing iopmakers will ho keen buyers if wool :oines at anything like a reasonable .price. It is rather unfortunate, but there is little prospect of much being done on American account, all because of the uncertainty about tho next tariff Tevis ; on. Tf importers were certain of a reduction, ■.hen no doubt there would bo a fair buy if the Lower North clips, which give a dean yield of 52 to 51 per cent., and vlicnever the American wool duties are settled to more dimensions ,ve are certain that such clins as Mount Crawford. Rhyno Park. Nalpa, Hill [liver, Vlooloo, Xortlr Boborowie, and Sungaroo will find their way across the Ytlantic. THE SPINNING TRADE. All practical mill men know that wool s first combed into tops, and then spun nto yarns, that is, if tho raw material s destined for a worsted fabric. Tho ram trade is a big industry in tho West Ming, and on that account it plays an mportant part in determining the future if wool values. Wo do not say that *Yest Riding spinners aro getting to the Mid of their order-sheets, but evidently ■■ome aro becoming a little concerncd >ver new business,, for during the past 'ortnight they liavo been offering to book lew contracts at less money. Then tho liiestion of delivery has been a vexed ™e all this year, but even hero they are in a position to do business by giving nuch quicker delivery to their customers. It is rather remarkable that those spinling -white worsted yarns have been far msier than thoso spinning coloured rams, due to tho big trade in piece-dyed i'abrics. But even white spinners arc lot being so hard pressed as they were, md to-day on new orders they aro prepared to give delivery from four to six iveeks compared with sixteen to twenty iveeks a few months ago. MARKING TIME. There is realty nothing new to report regarding the wool trade. Tho net arrivals tor the forthcoming September •cries of London sale. l ) are practically 100,000 bales, more than half of which are New Zealand crossbreds. As far as alio can sec it looks as if there is going to bo available about' 130,000 bales, and the trade should have no difficulty in lifting these. At present, it seems as if combing merinos will show practically no chango compared with Julv although wo certainly think prices will bo no higher. In Bradford, things aie doing no more than mark time. There seems to be no response in tho market, and everything is being conducted on a hand-to-mouth policy. It is quite true that merinos are iirm, but nothing more can be said. It was thought that when September came in it would bring forth more buying on the part of users, but spinners seemingly are well bought and they are not disposed lio -anticipate tho future again by buying largely. The market' shows no sign of stagnation, there just being sufficient passing to create steady prices, but there is nothing to indicate higher values, all alike seeming to have made up their minds that they will pay no more money. It is possible to-day to buy a good merino top at 2s. 3Jd. for spot delivery, although some aro still asking 2s. 3!cl. Commission woolcombers continue busy, and deliveries of fine lops are being made in a most commendablo way. This week Continental futures have fallen niore pronouncedly than for months back, and evidently trench users are expecting to see somewhat lower prices, but on "spot" stuff there is little likelihood of much chango in values. There is practically no change in the course of crossbreds. The only encouraging feature is that there is no abatement in consumption," and here spinners seem prepared to take up their contracts in a creditablo way. This means that some fair big weights of raw material aro being shifted, and although 10's prepared tops can bo bought at 131 d., still that is a most satisfactory feature. We really cannot see higher prices for crossbreds uuless America conies into the market to galvanise into a state of activity what is at present an unsatisfactory state of affairs.