YORKSHIRE WOOL LETTER.

Dominion, Volume 5, Issue 1495, 18 July 1912, Page 7

YORKSHIRE WOOL LETTER.

' •ANTWKI.T AS A WOOL CKNTHIv. (from Our Spccial Correspondent.) Bradford, .1 unt- 7, IIH-. Tin- fact dial tin-re is a sale of liiver I'lato wools this wci-k ;it Antwerp nilttir;i]ly diivrt- attention to Hint niiiikel aa. centre for handling the raw material, mill a-. I liav< l never done so Ix-forc, I feel disposed to-day lo a~k I Ik- reader to go with nit- in imagination lo this ini[inrl.uil llelgian town, which for so long lui> been closely connected with the wool trade. The weight of wool bought mid -old at Antwerp is not eulos-al, lint there is iin important ternie market, and six series of salt's are held annually. These two facts single the centre out as being one which lias an important bearing on the course of Australian, South African, ami Itiver I'latc wools. My own view i.s lluit tile ternie market is probably the nnwt important part of (he wool trade of Ilutl city, for what is done there alt'octs every selliug centra on the face of the globe. I have never lodkcd with great favour upon l:lii'.-e centres, either in i Vance or Belgium, for the simple reason that, like the. ration exchanges of Liverpool and New York, prices are frequently manipulated purposely for creating either a better huyiug or selling basn's, and the transactions done in "future*" are often more of a gambling nature than anything else,.though they may be a means of good to those using them legitimately. Still, I have seen prices manipulated on terme markets in such a. way that the proceedings could only l>s described as gambling, and we nil know that when' n new buying season i.s opening in Australia, the Cape, as well as Buenos Avres, prices are often purposely depressed in order to create a better buying basis for those who have gone out to operate at the places named. However, we have td take things as they are, and make the best of I hem, and to-day I .should like to deal with Antwerp a.s a centre where wool is bought and sold.

.AN OLD M.-UiICKT. This leading town of Belgium lias fur a very long time been closely identified with the wool trade. I have no particulars .showing how far back its associations run, but even the old Dutch burghors who left Holland about 1650 for South Africa, rant wool back to Antwerp for sale, before they had been long at the Cape, and there is no doubt that it was n-centre of distribution in t,ie seventeenth century. There i> room for the publication of .-onie authentic book, showing the rise and prcyisss of the wool trade in swell centres as Antwerp, Houbaix, Tourcoitig, London, Bradford, Leipzig, and other Ktiropean centres. This work could only be don-' by some person possessing actual knowledge of (lie trade of the cities named, but if it could be got together it would form both interesting and instructive loading. ■Ar the same lime Antwerp itself has never developed into a large centre for the sale of the raw materiol, although undonbUtlly big weights of wool arrive annually and are forwarded into the interior of l'.urope. tielow are figures,showing the tutill turnover of greasy wool in Antwerp during (lie past tw-j years ■Bales. Bales. 1011. 1910. liiver I'late wool sold in public sale J... 10.051) 21,1)98 Kiver I'lale woo! sold by private treaty '... 0,056 1,6 M Totals 22,708 20,312 Sundry wool sold in public sale 082 ODj Sundry wool sold by private treaty . 1,500 Totals 1,0-11 2,-111.-) It nil! be seen from the above that (lie wool actually sold by public and private treaty only totals 22,708 bales, but 1 think this will not.comprise (lie entire business done- iiv- either KiverlWe'tor Australian wool. In fact," there are firms who are doing a .big. business i it colonial merinos ami crtiM.<!ired.<;' l apjirt' , fi'oni > .what is recorded nt the public sales, although 110 doubt the offering by public aueti:m is a barometer .which indicate* to rtmie extent tho importance of the city as n wool centre. There are several linns in Antwerp who solicit buying orders .from Yorkshire and Continental clients. Tliey liave what tliev call standard types, anil if they can obtain these orders they instantly transmit them to their icprc-enfa-tives at the various markets in the Itivei 1 Mate, the Cape, Australia, and New Zealand, who buy so many bales of the rediiired type of wool to.the limit given.' Tor instance, during the montiis ol .November, December, January, 'February,' and March, there . were two or three men on Bradford Exchange every day endeavouring to obtain buying orders, and they were quoting -10's clean scoured wool, c.f.f.. Liverpool, at from lOd. to lid. Some big weights of wool -were bought,in this way, Buenos Ay res being a long way the cheapest market in which to buv Wool during the recent season. What "Eliey. do for Bradford clients tliev do for others in France and Germ-any, hence it is impossible to gauge the extent of the business done by what simply takes place at .the auction market. Antwerp is-more or less a centre of distribution, and the bu.-'iiwss done is in the aggregate a considerable amount. THE TERME MARKET. As already said, the transactions at the Antwerp ferine market form, to my mind, (li 6 most important item Vounect'ed with the wool trade of that city, and it is hare I think where Antwerp's import - nnee as a wool centre is most seen. As ill Houbaix and Toitreoing, there are many firms in Antwerp nho aw simply interested in wool and topsfroni a profilninkiug standpoint, their whole business consisting iu paper trans-action?. As 1 have already pointed out, this exercis'es some inlliienci: upon the price of the raw material it-elf, but so far as they are con-c-Dined. their sole/concern is to buy and sell "futures" and receive or pay differences. If the entire wool trade consisted of that kind, of business it .would be adark look-cut for growers, but, I am glad to say there are others who manipulate I he raw material itself, and the.v nre the very life and soul of the wcol trade. Below I give particulars showing the extent of the turnover in top 'futures at Antwerp and Houbaix during tho pn-t three years ending December 31:— Kilos. Kilos. Kilos. 1903. 1910. 1911. Houbaix- ' Toureoing 20,720,000 33,505.000 34,320,000 Antwerp 33,610,(100 -if.915.0110 48.865,000 It'will be sf-en .from the above that the amount of "futures" dealt iu is colossal, find j ust to show: more clearly the nature of'this business,' 1 give below particulars • of the transactions nt. the end of. last month (May 31). and the tops sold for tho months specified known as the' time of delivery-.— .. 3912. - 1911. Kilos. Kilos. 1012. 1911. Mnv 3,255,000. 5,150.000 •June 2,G80,000 3,100.000 .Tilly 1,005.000 2.775,000 August 2,575,000 2,935,000 September .... 3,255,0110 2.490,(100 October ' 1.350,090' 1.805.000 November 695,000 l-.30D,00[i December 1,395,000 2.710,000 January 990,000 720,000 T'ebruarv 945,000 405,000 March " "35,000 435,000 April 3-15,000 285,000 THICKS STEADY AM) FIIiM. Looking at wool conditions generally, there is really nothing new to record compared with a week ago. Lust. Tuesday a three days' sale opened at Antwerp, nud as that centre is supposed to show which wav the stream is running, it. is some satisfaction ln.be able to si.v that values remain intact so far as merinos are concerned, erossiivcds being slightly in buyers' favour. This is really a repetition of I lie tendency of. thing- seen lately in coimiiuing ceiit-res like Bradford. llcrinn> rci'iikiin ,-leady and firm without any proI nounced degree of activity. Business is ' being done on a very encouraging -cale, j so far as actual ileliveric- are concern si. i allh.iiigh few new contracts are being fixed ou. K|iinlier< have for some ! months ahead, and prefer to wait a,oil -ee what tiao-pire-: at (lie London siles in July, before comiiiiltine (hem-elves further. A -Ironl optimistic feeling obtains regarding tho future, and very few indeed can see much chance of prices easiair. II has been possible during the past forlnight tn nick up an average G4's - at '253 d., and 1 dare say in oup or two quarters the same can be done fo-rlav, -but •fiM latw •fit'rii whfi -h.vl H»*n- willitis »# itifc* that prl&>' for' th«r tttasard 61' i

went h;.ck !;i-l Moiulny to 20(1. The market in Hriulioid rcMiaiiis iuiact.. Tlio dot-kcrs' -hike in London lia-> nol troubled the irjuk- a ileal m> far, but if it had happened during a .-cries of l.nmloit -siles it would liavo Jji the auctions lo a sUnid-lill, ;ind if \< to Ui\ hoped that Ih'fon* July 2. the \vhol;> alVair will Ijc put in order, and work rc-ium-d. Cio.->l»vd-are very >lu;v ami unre-puiiMVo. and there appears to Ik* litllo encouragement I'roni n tcipinalvLM'v' standpoint. Spinnrr- k'oiu to lii)vc.:i notion that with Hi err liciui; .«uch a I>!2 weight" of \ow Zealand er:). 4 -- lned- to lift, prices will slightly decliuo. That: was la.-l *»orie>, but wool went vory well, and values gained >tr(Mij;th a- the .-ales advanced.