OUR YORKSHIRE LETTER

Dominion, Volume 6, Issue 1659, 28 January 1913, Page 4

OUR YORKSHIRE LETTER

' LONDON SALES' AFTERMATH.

(From Our: Special Correspondent.)

London, December 13. It is a real pleasure to be. able.to.settlo down to;-the . daily, round and common task, for after all is said and done tho breaking into one's life of a series of London sales upsets things a little, though with time one gets into tho way of making the best of this big event. I havo always maintained that Coleman Street is indispensible to the wool trade, for it shows the real standing of the raw material as nothing else can. In making that statement I am not forgetting tho colonial markets,- for undoubtedly both Adelaide, Melbourne, Sydney, ana Brisbane aro to-day exercising a potent influence upQn ocntres like Bradford and Roubaix. This season Australian markets havo been a mighty factor to reckon with, and they have saved importing topmakers, from committing a serious error of judgment which could soon have cfist them a good few thousand pounds. Somo that I. know felt disposed to go on selling forward at little money. At the timo I thought they were acting foolishly, and the. figures at which tho raw material 6old in Australia compelled them to put on their thinking cap, and to commit themselves very gingerly indeed regarding the future. The fact is, at a timo like the present in faco of a serious shortago as well as a booming trade, no sensible man can afford-to play fast and loose. He must recognise tho very strong, factors which are at work; and., shape a policy accordingly.

CLOSE OF LONDON SALES. Another series of London wool 6ales terminated last Saturday, and in looking back upon them it must be said that tiie trade: as a whole is satisfied with tho results.' The enhancement didjiiiot come up to. tho expectations of the'moro recklessly disposed members of the trade, aa much as 10, per cent, .beings stated , by some as tho rise which would 'be.(Witnessed, when the sales finishta. However, things havp been, as they &ve; and. as already stated there is a widespread impression that wool has gonejiiip\ plenty, and that tho basis of values readied need not havo been exceeded. Id? trhtli, tho latter days of the series dill'not show such an extreme range of prices as was paid ; earlier on. But there was no'actual weakening, and taking tho sides as a whole it must bo said that they closed sound''and firm. ' ,*- : '

One noticeable effect of the way in which ttool has been celling, not only in London, but also at other centres, is that top values have been, carried to an exceptionally high level. This is a circumstance which was only, to be expected, for users have gone oh in a most determined manner. Their urgent needs have compelled . them to enter the market and buy, but there has been a corresponding need on the part of ultimate users, and this has had to be met. The outcome of all this is that standard 61's tops have reached 29d., This may be, all right in a oertain sense, and there is no doubt that it has been brought about by the. exigencies of existing conditions, but no fact is:moro clearly in evidence than that present prices for-tops and yarns or® sucli that ere long there will bo a severe combat between the merchant and the manufacturer. Romping prices fof wool and thumping Values tor tops and jrams may bo all right, but it is a, significant, fact that the .present'price of yarns necessitates an ad- ! ditional 7<l. or 811. per yard being put on to the,cloth, If manufacturers could mako this easily, the difficulty would bo solved at once,. but when wo say that a, paltry 3d. more hag been as iriuch- as uiany have been able to; command, it is iclear that .there will'hare to' bo another move, or. they, will be left in-tho lurch. . The crux of tho whole matter, lies here. Will manufacturers bei able to make, the necessary ' riseP' So far,as can bo.socn/ihey ought, to be abl0 l tb' i da'so."''Mllli'iro \vell occupitd/ arid tho Workers are earning good wages., ,'Whbn w'o speak'of textile conditions being good, it means that tho ultimate market is still open, audi though ' manufacturers and wholesale buyers may do somo kicking before they pay tho price, the needs of the buying public will .compel them to: como; into the market. 'There may be soma difficulty in tho near future, but top and yarn priccs should ultimately bo justified by tho prico of tho' finished piece. \ ■' SOUTH AUSTRALIAN WOOLS. . Tho sale of South Australian wools at the;recent auctions cannot but be regarded as fairly satisfactory, for erery brand made a sensible advance on last year. The clip this season is certainly better grown than tho majority expected, and I could see that more attention was being paid to the wools than last year. Bradford buyers lure always given South Australian wools, their b:st support, but at the recent auctions more Continental buyers competed for them, and they, benefited accordingly: Below 1 show the top.prices realised for til? clips'sold at ,tlie recent auctions, compared with the corresponding, scries .a year ago■ Nov'.-Dec. Nov.-Dec . 1511. 1912. .i Clip. . d. d; Ned's Comer .................. lli 13 , YJ/Booicoomatta ............ 11 .12 Ilawker/Carriewerloo 12 13 Koon ' 1........... 10- Hi B/Mt. Norwqst — .11 Campbell House 19 11 , Poltallock — 12 Nortlock/2, in circle ...... 11 124 II & W/B ,9 10 Cordillo . (scoured combing) 20J 2?J ALTERATIONS. The following shows the changes which havo taken, placer , compared with tho previous auctions:—AUSTRALASIAN WOOL. V Greasy merino,-superior, par to Jd. dearer; greasy merino, average to good, id. to Id. dearer; greasy merino, ptor condition, Jd. dearer; greasy merino,-in-ferior pieces and locks, }d. dearer; scoured merino, superior, Jd. dearer; scoured merino, average to good, Id. dearer; scoured merino, inferior, Id. to lj<3. dearer; scoured merino, faulty pieces and locks, Id, to ljd. dearer; greasy morino, lambs, superior, -Id. dearer; greasy morino. lambs, medium, Id. dearer; greasy merino, lambs, inferior, Id. dearer; greasy orossbrcd, fine, superior, id. dearer; greasy crossbred, fine ordinary, Jd. to Id. dearer; greasy crossbred, medium superior, id. to Id. dearer; greasy crossbred, medium ordinary, Id. dearer; greasy cross, bred, coarsesiiporior, Jd.dearer; greasy crossbred, coarse ordinary, id to Id. dearer; scoured crossbred, fine, Ad. dearfcr; scoured crossbred, medium and coarse, Jd. to ■ Id. dearer; slipe. crossbred l fine.-' jd. dearer; slipe crossbred, medium, Jd. to Id. dearer; 6lipc crossbred, coarse, Id. to Id. dearer; greasy Punta Arenas, • well conditioned, id. dearer; greasy Punti Arenas, wnsty. Id. deorer; greasy Falk-. land Islands, id. dearer. " SUPPLIES AND DELIVERIES. Jlessrs. Helmuth,. Schwartze and Co. give tho following particulars of tho supplies and deliveries of colonial wool during tho year as compared' with last. Adding transit wools and direct imports, the total deliveries to tho trado comparo as follow:— . , . . 1912. ' 1011. Bales. Bales. Home consumption ...... 1,055,000 1,08fi,000 Continental do 1,778,000 1,760,000 American do 101,000 52,000

Total .' 2,931,000 2,898,000 Tho deliveries Bhow a very moderate increase. The Continent took very littlo more—lß,ooo bales—while tho American purchases are greater by 49,000 bales. Tho absorption by the Homo trado indicates a reduction of 31,000 Kales. The Australasian production shows an increase of 44,0Q0 bales, but owing to the shifting of arrivals (heavy imports at tho end of 1011 and smaller receipts since July 1 In tho present year) the imports are 01.000 bales smaller. On the other hand, the receipts from South. Africa, which had remained almost stationary for two seasons, have given tho extraordinary in. crease of 87.000 bales. Tho imports from tho River Plato aro practically tho 6amo sa in 1911..' ~ Tho past; week has witnessed practically no change' in the ninrkot so far as consilium!? centres aro concerned, though it must be said that prices for merinos aro hardly so strong as they were. It onpears that a few lopmakors liaVo seen fit to accept slightly lower quotations, and rumour has it, which T am certain is based upon actual fact; that average 64 s have been sold for forward delivery on a basis of 2s. 4)d. to 2s. 4Jd. This marks a (Mine from tho highest point of }d. i<U