YORKSHIRE WOOL LETTER.

Dominion, Volume 5, Issue 1473, 28 June 1912, Page 3

YORKSHIRE WOOL LETTER.

THE SUPREMACY OF MERINOS. (Froto Our Special Correspondent.) Bradford, May 17, 1912. Tho wool trade separates itself sharply iuto two divisions, namely, .merinos ami crossbred*. A consideration of either section reveals the fact that it is large mid important, having greatly altered from wliat it once was. I was talking the other day to a woolmau who is fast approaching his eightieth birthday, and who for nearly 10 years has attended the snles held in Colentau Street AVool J'jXchange, and has been present at almost every snries. What a fund of useful'information he has. Like most old men, he lives in tho past, and tho memory of tho "daily round and common task" of the early 'seventies stands out in strong contrast to what we tee to-day ill' CoJcman Street. In thoso days very little cro.-s----bred wool indeed was available, and thoso using it obtained their whole supply from English sources. To-day the produce'of the .10 millions of sheep which arc being depastured throughout Great Britain is but a bagatelle compared with the teeming millions of the Hirer Plate, Patagonia and New Zealand, the large quantity of crossbred wool now available having changed the character of supplies considerably. If one. inohules the English clip, then no doubt the quantity of crossbred wool at the disposal of European and AniFriean manufacturers is larger than that of merino, although if the fine wools of South Africa and Uruguay are reckoned, I date say that half of the world's supplies are merinos, and tho other half crossbrods. Be that as it may, there is no disguising the fact that on all hands some big weights of raw material are available, and it certainly is satisfactory to know that the weight of wool that is bsing grown is none too large to meet the world's needs. MERINOS ON TOP.

During the last few weeks the actual stuiiclitiy of Hie different classes of raw material vliieh confront the trade lias ])o?n demonstrated in no uncertain way, ami there is' a unanimous verdict that merinos are "on top." in other words, (hey claim first attention, and occupy the box sent. . There is proof of this not only in the ' way, merinos sold at " the recent s-Jrity ofLondon sales, but also throughout manufacturing districts, where it is clearly seen that fine wools lead, and as 1 have said for the, Inst two years, a very different spirit will have to come over tho general consumer before crossbreds lake the first place. No man can explain why fine wools occupy the position they now hold, and no one can account for tho large measure of public favour which tljey enjoy. The fact, nevertheless, remains that it is so, no matter what may Ix> tho cause. It is quite' true that popular taste and fashion are both whimsical and changeable, and some even think to-day that there are signs of crossbreds coming to the front. That I say-will depend more upon now high merinos are going to soar than anything else, and if an adequate supply continues to be available, and prices remain reasonable, I do not think they will slacken their pace much, or that demand will decline. No doubt there is something about fine, soft handling fabrics which appeals more to the human touch and sight than crossbreds, yet the latter are to-day being, so treated by manufacturers than in thousands of instances they present the appearance of merinos. There is no branch of the industry where more rapid strides lmve been made than in machinery for handling wool, and the manipulation of the same, both in combing, spinning, weaving, and finishing. When the writer, was in his teens, and apprenticed t<3 the cloth trade, crossbred fabrics presented a far different appearance when they came from the finisher than they do to-day, and the' somewhat different method of treatment, in cutting, steaming, and finishing, is the secret of thousands of pieces of crossbred serge being retailed as merino, the man in the street being unable to tell from, what quality of wool his garments are made. All the same, merinos stand to-day in the front rank as a manufacturing commodity, and there is little tn indicate that they are going to be displaced by ciossbreds.

INCREASED PURCHASING POWER. Perhaps tlicve is no factor which has - made itself felt so powerfully iu deciding the fashions as the increased purchasing power of the people. Turn which way one will, there is no evidence that people are Laving a hard time, for trade is good., -wages generally are better, and there is no doubt that taking all things into consideration the generality of people are bettor off than their forefathers.. As one studies fashions, and notices the dress of the average man and woman in the street, there is distinct evidence of more money being spent upon clothes, and it is plain to be seen that a better class of fabric is being generally worn. A further proof of the general betterment is the large number'' of motor-cars which are being run, the average commercial man being the owner of Ibis means of locomotion. There is to-day more going away by even the rank and file than {jirmerly, and the fact which I am seeking to emphasise is flint all (his extra wear and tear means that more clothes are wanted, and I am certain that a better article is being demanded by both men and women.. All this reverts to the raiv material, for with the general improvement in methods of dress, the wearing of half-hose by way of stockings, botany undsr garments, flannel shirts and the necessary outer garments, all means a larger, demand fcr the raw material, and merino wool is benefit ting accordingly. Hero I' say we have an all-important factor, the significance of which it is impossible to overestimate. If the- people had not the purchasing power they would never be al>lo to appear as they do, and this general improvement not only obtains here in England, and throughout Great Britain, but in other countries as well. There seems to be a general recognition of the fact that the trade of the world is fairly good, although there are some countries where, owing- to bad government and despotic rule, the people are suffering oppression. Be that as it may, there is no doubt whatever that merinos are benefiting considerably on. account of the general betterment of the people, and if the trade of the country remains good, I have little fear over the.future of fine wool prices.

A BIG SUPPLY WANTED. The most disturbing factor to merino users has boon the note of warning .sounded from Australia both by mail and cable that certain areas are in the hands of ■ (ho demon Drought, and that unless rain falls speedily there .will be a lessoned supply oi fine wool next sonson from Australia. This is news which is auvthing but welcome, for the world s needs are to-day at least 25 per cent, larger than they were ten years ago,, it beiti" in 11102 when Australia turned out the "smallest dip of recent times. The world to-day can do with no .less wool than is at present being grown, the reverse K actually the case, and it is not difhcult to Miy where prices will go it the Commonwealth has to pass through n dry period It is a pleasure to know that current values Cor merinos arc paying glowers \«-11, ami no one begrudges the ter adequate returns for the trouble and risk which he hiis»nin. Various estimates ere being put forth from timi> to ti.no a-; to what it costs to produce a pound of greasy wool in Australia, (hew nuiirimr anywhere,iip to K.I. per l>., >u I think it can be taken lor granted .(hat on average station- in wool-growing area* <i pound of wool can be produced at Gil. to 7d and I venture the opinion thai it; will' lie a long tiim- before drn-nt merino wools drop to anything like bi'-e fr»ur<vf. nstaiii. Nothing but a "liuidslTde" Clin bring values down where we -aw them a few years ago. hven in iflflS, (lie financial i.ti->n in America which bought about « slump in valueliKttid but a tew months, there bcinj an equally sharp recovery. Wool is li.-dnv-a prime article ill' (omiiiorcp. it will always command excellent price?, and as far 1" one can read the future, we ore not likely to strike an era of low values for wool. MARKET CONDITIONS. Tiirniii' to local conditions, 1 am glad to say that the market is still intact, price-; bein". well maintained «t the highest point during the past fortnight. Fine tnp-nnvkers aru very "chuff" , and independent, and Niy they are now wing lo have their price for hips, or not sell. They fee nothing whatever to jnducp them to throw I heir stocks sway, and 26d. is to-day a burinK price, lot au. avenue.

combed top. ■some, .!>vi>n demijndi'ii&.ld-,. more. This is a different tal.i« ?fi-fjiiv.-ivlinjfc' 1 had to tell ii mnnUi ago, niiil-'ji/'iS-higfr time top-makers asserted their .-i;?gMs> arid , - demanded n paying price. A-VpwitlViirrtlj'. business continues to be done,/ and fioiir tracts have this week been oStoro.il .;(« fiir forward as next September Hnil'Dpi.iil'i.Ti but topmakers, unwilling to , jjsk the , futuro for so long, have dec.linwl to- s.ol! forward, preferring to accent..flip , jiri.oe.s , fixed by the standing of the ■'-i-jiife #iteriol. All the ill-effects of thf? recent coal; strike seem to have passed , ji;w;\y, andmachinery is being as hanlTpifriipd- .-asover. Commission woo! conibpr.s-Ka'y-.t.hirt-they have plenty of wool to; ep.m'b', asvil , tlifre is no indication of any fal'iing-dtl' in supplies, or the demand for 'topi; ";•