YORKSHIRE LETTER.

Dominion, Volume 5, Issue 1364, 15 February 1912, Page 3

YORKSHIRE LETTER.

NEWYEAR MARKETS,

(From Onr SDeeial Correspondent.) ; Bradford, January 5. With the turn of the rear users nro naturally wonderiag what is in store'for them. It cannot be said that the "wheelband has yel got into the nick," as Yorkshire men say, yet combs and spindles, as well, as looms have been set to work, and an air.'of activity secius to pervade everything. Unfortunately, the big textile industry of Lancashire has opened the yenr with a colossal strike, and when 350,000 people parade the streets with their hands mostly in empty pockets, it does not tuigur too well for the industry 1 of the busy County Palantine. However, I don't think that strike conditions will prevail long, for mills are too busy, and there are too many dependent upon the weekly wage. At the same tune, when Lancashire stops its spindles and looms it moans a rather nasty blowto the woollen industry, and if a strike had to continue for any length of time it would be a serious matter. It is centrally believed that the crisis cannot last long, and that business will be resumed m the course of a few:days. Lancashire mill operatives'always spend monev freely. They make little provision "for a rainy day, and when they are earning good wages, believe in investing some of their earnings in good and attractive Clothing. The big industrial towns cf Lancashire get. through 'immense quantifies of wool-made textiles, and working in high temperatures the mil! operatives have found that it is in the interests of health to wear woollen under-clothin".

FASHIONS IN-WOOL. I don;t know whether the reader has ever considered-the.-question or not, but there is,no doubt that fashions in wool exist, and are-often in evidence. The Past-year has.iundoubtedly seen the merino occupy-the bor-seat, and even toany nne Botany spinners in the West Hiding a long way-the best situated. Many:, have been at'-a'complete loss to understand why crossbreds have not fared "better,. : biit the -reason is- not.far to seek, Briefly speaking,-it is the lessened takings, on the part of America, and also the depressed condition of the export yarn trade with Germany. I said ■ a week ago that speculative yarn orders were placed with Bradford spinners last March, when merchants paid up to B'. 'Jα. per gross for single 30's demi-lustro yarns, and the fact, that they are able to buy the same fo-day as low as 75.-4Jd per gross explains at once the unwillingness on the part of buyers, to take up their old contracts. Some, have bought again ■at the lower quotation whenever possible and are trying to "average out their dear contracts, but such a condition of affairs goes down badly, and to -day crossbreds are not as popular as they might he. Of coursp, this all favours merinos, and as far as one can see there is .every likelihood of Botany qualities continuing to hold on their way through: the coming year. It is rather noteworthy that tweed- manufacturers in the South of Scotland-are very busy, and somi seem to think that'me'rlmm and fine Cheviot fabrics are going t« have.a run. No doubt, this winter there are. far more mixture tweeds being worn' than for some time back, and the tendency in that direction is certain to develop, for the.fall of 1912. These fabrics may look very smart and well for winter wear, but. when all is said and done fine wool is very largely used, and in such useful/lines-as worsted coatings, serges, vicunas* as well as a .multitude of under garments, the consumption is indeed extensive. ■ ■ i

COMBING RESULTS. It is a little too early to say. anything very definite about the results secured from the wools bought early in Australia "except that they are costing quite enough lor Yorkshire. . Bradford buvers purchased very little indeed out of "the first > Adelaide sale, but I .hear, from Koubaix and Rheims where it fair weight went, thnfthe shrinkage'is a little more than estimated. I had the privilege of inspecting a dozen samples from the leading clips offered in Adelaide at the first two auctions. I thought that buyers ■had paid, very good prices, particularly at the opening sale, and quotations for tops having dropped something like 2d. per pound, it is no , wonder that complaints are general. I said when I saw the sampics taken from the first offerings that GiVtops would cost well on towards 2Cd., a price that was altogether out of the question when the wool arrived Home. If firms operating had not sold forward at the time they bought, tney were bound to bo in the wrong box, and therefore present complaints are only what might have been expected. Those, we ha T e interviewed in Bradford, seem to be satisfied with the results they hare already seen, but without doubt tho wools this season are somewhat heavier and more earthy in condition than last, therefore tho<e who have to produce Si's at 2td. to 2*id- kive all their work on. Of course, considerable complaining is certain to be done, and as some fair big weights of skin wools were bought when prices were at the bottom I have no doubt tint they will bo able to Ret out. . I heard the head of a large importing house say the other day that they regretted not buying more in Melbourne at the end of October and the first fortnight- in November, for somo very reasonable prices were paid for wool sscured at that time. Both merinos and crossbreds dropped sufficiently low to enable Bradford topmakers to'buy at the lowest point, and some good results are being looked forward to from the wools bought at that centre. Sydney seems to have been the dearest market," and those wha have been trying to operate on abasis of 25d. for 64's have felt the task to bo almost impossible. •

. STEADY PRICES. The market this week has worn a good deal of the holiday aspect, and there is little new-to report. I said at the close of the last series of London sales that so far-as I could see markets would remain quie' and steady until the opening of the January series, and to all appearance this is likely to take place. The fact is, values have gone about as'far forward as the majority at present. think safe, and until some new-factor'is introduced into the situation, Ve are .not likely to see much change. The best news f have to chronicle .-this .week is the reported starting of about a dozen American buyers for.the January London sales, and if they make an appearance in Coleman Street, there is no telling how things may shape. The situation 'to-day requires American influence to give "spice", to the. proceedings. In Bradford things aro fairly steady, and that is all that can he said. Naturally, there is not much new business being done, for the simple, reason that spinners are now-in a< position to command • delivery, of. the cheap tops which' they contrasted ■ for 'last October and November, and it-is'hardly likely' that they are going to buy afresh anil pay.more wh?n they can go'on comforttibly' for the next three months. I am certain that there would soon be another bis business, done if topnialsors were in a hnmour for accepting Hi. to 2+id., but they are not'likely to -be just yet; mile's wool can bo bought either in Australia or London 'during-the iic.-ct few weeks to-fit the price: ' 'I-'.am in : a position to-sav Hint'with - the resumption of the sales iii Melbourne and Sydney! limits of buyers willbe lowered, to-241(1; and 24Jd. for. 61V, but I doubt seriously whether they wili bo able to buy : on that basis;- 'Sonic seem in the.inind to let their present limit of !*.id. siatu! us it i<, Ijiif. [,know no one who is prepared to operate on a SS.'.d. basis, although I. don't suppose much wonj will bf bought at The'- most surprising (Mil? of all is during the pait llirevi months Germany should have Ixpc'n ■ sucli an active buycriu Australia when such doleful statement.; continue to comt'.tlirpush'ivspctlinj; fi-mle. Unulford travellers who} h.'ivc returned fur the Christinas ' rutt« declare emphatically Ihnl they never liail worse journeys, anil Hint tliciv is plfiiiy of standiu); niachiiicry, both in France, Germany, ami Aus-tria,-wiiilc nisiti'v {jnillip iciiKl'li of snyiui; thai in trade is simply rotten'. A very lint -sum.iiKT, when woollen and worsted fabrics were, not required, has been followed, by a very mild winter, the result l>einfr 'that heavy-weight fabrics havo not. l>cen saleable, and qoods have been returned to the first producer. Tho general th'ins! in .Jlussin is for a firm to liiiy,, sny, 100 pieces of a'certain doth; and then for the manufacturer to make 200, in (he hope of being able to yed rid of jam?. When .the winter i<. sorere, they snnr-rally qbino out fairly well, but a't the present time a very slack season is ]

being experienced, there have Iwn many failures in Lodz, and credit i.- at a premium.

CONTINENTAL FUTURES. 1 have- never been very much enamoured with the work done on (h< , three Continental terme markets of Franco and Belgium, but they .-eein to be now so firmly established that it will require almost an 'earthquake to remove, them, and to bring to an end the dealings in "futures." The average reader has very little conception of the business dour, but the importance of these markets arises out of the influence they exert upon actual prices. During the month of December, quotations gradually advanced, this being entirely the result of firm markeU in Australia and South America.

"Bear.-" never like, to go against the combined forces of other markets when wool is selling strongly, although I know for a fact that many are desirous of repeating what took place during the first fortnight in January a year ago. Circumstances this year, "however, seem to be against them, hence they are to a large extent, lying low. There is policy in this, though we should soon find that'if tops were to ease, a move would bo mado towards helping quotations to a lower basis. Tho uppermost feeling to-day in the market is one that favours everything being allowed to pursue a natural course. The- activity seen in America during the past month has counteracted the influences which seemed to be tending towards lower prices, and those favouring a bear move have been given to fee that with a possibility of America coming into the market as a large buver, it would be foolish to attempt a "bear ,, raid.