OUR YORKSHIRE LETTER.

Dominion, Volume 6, Issue 1638, 3 January 1913, Page 9

OUR YORKSHIRE LETTER.

is WOOL GOING TO BOOM? (from Oat BsaolM Oorroscondent,) Bradford, November 28. There can bo no' doubt that the wool trado is in a magnificent stato of health, and as weeks pass remarkable events aro taking place. One begins to think that the perspective of tho average wool-man will have to alter somewhat, for wo are certainly passing through a unique period, tho present piping times reminding one of. what. took, place during tho lnst-boom. It needs very little now ■to "set tho whole heather on fire," and we aro fast approaching the opening of another series of London sales, with prospects of no mean' order. Everything indicates that the 6un of prosperity is shining splendidly, and things appear to bo all the more remarkable, particularly when the time of tho. year is taken into consideration. Wo, aro yet .at tho beginning of a, now season's operations, when new. wools are 011 the point of entering tho manufactures districts of Great Britain and the Continent, consequently tho standing of the raur 'material is all tho .moro noteworthy. One gets so accustomed to seeing importing topmakors accept less money for January delivery than is being paid for spot lots, that to find prices distinctly on'the . rise is ono of those things which to eay thoVleast cannot but surprise everyone. , .The fact is, business is such that tho most optimistic feelings seem to fill the minds of all, and with trado being; so satisfactory, all alike have determined upon making ft big effort to obtain wool in order to satisfy their future ccquironionts. .. , '•

MORE MACHINERY DEMANDS MORE , . . WOOL.

It has been well said that the law of supply and demand to a very great extent regulates the price of the raw material, and that no doubt is quite correct.,. As one takes stock of the requirements of the textile world, they are past, human comprehension, for as fast as wool is grown it seems to. be used in meeting the needs,of the manufacturing world. l I have before emphasised the fact that, during the.past five,years textile machinists have been quite as busy as those combing, 'spinning, and weaving the, raw material, and the, installation of new machinery, not ' simply in England, but also on tho ,v Continent, and ' America, means-A thatmore wool -will 'be required to keep it runnins. I. ; .b#TO , good reasons ,for saying, that in tho West Riding of: Yorkshire there has been .'prooftically 29"per cent, inirease of now machinery during the past,three to.five years, and,the same obtains in France. One cannot help but believejlthat;German, spinners and manufacturers have pursued the same lino of action, and when they have all: been busy, bringing their plants up to date .or ,increasing them,; it, .sounds, to sense that o greater supply of-raw material will, be wanted to meet the extraordinary demands,of-tho trade. I say that wo liavo here a most important reason for the present boom in wool. - No ono_ installs new machinery to let- it stand idle, ~'.d as spinners and manufacturers havo uad every encouragement to expand their plants during the past two, or three years, they havo naturally dono so.. At the moment, notwithstanding tho extraordinarily increased output, tho world seems in a position to absorb it, and recently there ; navo: been "no Complaints of over-produc-tion. -The fao't is, everyone connected .with the: textile -trado must reconstruct thoir ideas when'speaking about, the world's requirements,! for at tho present time-tho pressure is terrific, and spinners aro asking from 15, to 20 weeks' delivery on new oontracU. This 'I say is . a romarlcablo statemeint of fact, anil at. ono stroke explains tho, reason for the present demand for raw .wool. ■ ,' 'i . ,

: ; GOOD TRADIi EVERYWHERE.' Tho more one tho itoxtilo 1 industry of tho,world, the mo'ie .impressed one is'.with the hcaltby conditions' which obtain everywhere. A leading West Riding manufacturer said tho otner day that lie' hud communicatcd -witli all tho firms that, take in work to scribble and spin on commission, but ho oould not got n single blend done for either lovo or money.; When this firm is prepared to put out really good quality materials and pay full market prioeii, and is unable to find a singlo emptyS'iriachine, it, shows at onco where things'stiind, =nnd tho; writer can icon-' firm tho manufacturer's statement from his own .persbna! experience.- What scorns to b? troubling this section of tho West Riding 'cradoinore than' any thing, else, is, the further advance which has taken l place in wool, tops and yarns, and it is really wonderful t<i, find prices everywhero, distinctly .hgainst tlio buyer. Many nro asking what effect tbiu is going to have upon the wholesale fabric buyer and tho retailer, ; Experienco»leads one '■ to- eay, that it is not,the'man -in the,street who is 1 causing uneasiness,-, for; ho"'.vill-. not know when lio is paying a ; shilling per. suit more than ho did last time, the mere statement that it is a hotter quality satis-' lying 99 per ccnt of customers. What manufacturers foar niost is the wholesale merchant and clothier, aiid, the greatest difficulty "will be experienced here. It is all right for woo), tops and"yarns to advanoe, but this soon means;{>d. to Cd. per yard being 'put upon solid worsted fab-rios,-and that is, taking place to-day. Many manufacturers have already given notico to their customers that they will havo to -pay. increased rates, and those who are running cloths for next season, feel their position to be somewhat critical. Tho custom of tho trade is, not to .-raise prices " during a: season, :u'nless value 3 for this : raw; material go very high, and although some are' questioning the advisability of. doing this, others havo already given notico of advances. The tug-of-war will begin when the next showing commences, and thoso who have not yet finished showing for sthe; winter of IOIS-WTiave already put up their, prices.

A LIVELY MARKET. The past week has been a remarkable ono in Bradford and district, all due to the strong, overseas advices. Topmakers have at fast'"plucked up courage," and aro determined upon' getting back their own and a bit moro into tlio bargain. Somo'considerable tinio has elapsed sinco merino topmakers put on sucn a bold front as they present to-day; instead of being between tho finger .and thumb of spinners, they are out for a living pro£t, and are determined not to sell a pack of tops unless they can command what they certainly have a right to' expect. Last Monday's meeting, on the Bradford Exchange was a most exceptional one, a very lively time being seen. Spinners were met on every hand with advances of a good Id., which'means a penny rise' in two weeks. 'Some'of the bolder spinners wero naming 2s. 4}d. to 25.. 5d,, for 64's tops nt the end of last week, and by Monday they, had so stiffened their backs that the,latter quotation was a general one. I cannot 6ay that it was a selling basis, but all the biggest firms said that 25."5 d: was their .price, and if customers wanted to buy they would, accept nothing less. Often these words are used, but somehovr. they deviate id. to Jd. from their ei;orbitant-asking price, and although to-day they are showing more strength than usual, I think a man could yet buy an average fit's for February and later delivery at 2s. 4W- Still, the rise undoubtedly shows where things stand, and there is no doubt about prices being higlier with everything atrainst tho buyer. CROSSBREDS DEARER.

The. position of crossbreds is also one of considerable strength, prioss here moving np on the week. It wm quite easy to buy 40's prenared tops at 14-sd. a week ago, but 15} d. is to-day the Tock-bottom price, tho majority wanting 15Jd.. and some even 153 a. At a time liko tho present, topmakers hardly know what to ask; in fact, they do not, want to sell, because they have no wool bv them, and are therefore completely at the mercy of the future. The mnjority are to-day simply holding their hands, wail ins developments, and aro only prepared to act when they know where wool stam's : in London, New Zealand, and Buenos Avres. Higher buying limits linvn been j cabled out to all overseas markets for both merinos and crossbreds.,