YORKSHIRE WOOL LETTER.

Dominion, Volume 6, Issue 1676, 17 February 1913, Page 4

YORKSHIRE WOOL LETTER.

THE SHORTAGE IN MERINOS. . (From. Our Snccial Correspondent.) Bradford, January 3, 1913. There is no part of the wool trade which is to-day' receiving so much attention as the probablo shortago in the.forthcoming colonial clip. Tho subject has been hotly debated among consumers, and is at prosent a strong bono of contention with a large number. Certain' it is that wo 'have heard a good deal lately about tho short-, ago in tho Australian, New Zealand, and Buenos Ayres clips, and it will be a cause of great surprise if tho South African clip equals in quantity this year what has been shipped during 1912. Unfortunately drought has had a very paralysing grip upon the pastoral and agricultural' areas of practically tho whole of South' Africa, and on all hands , complaints are forthcoming of sheep dying in thousands and of diminished clips. This is to bo regretted for many reasons/The manufacturing world to-day can ill afford to do without tho big weight of raw terjal'it received last season from Australasia and South Africa, and to bo told' that there is a prospect of decreased supplies from practically all wool-growing' countries in the world is indeed an item of serious concern to those depending upon a large and adequate supply. Tho world' to-day is wanting more, and not less, wool, and if ever Australia is again vis-, ited : by a succession of droughts, it will indeed,bo a bad thing for tho consuming world.- Many entertain the view that the Commonwealth of Australia will not depasture moro sheop in. the future than it did before the drought at the beginning of 1912. The trade does not look with favour upon the constant and repeated breaking-up of large stations, but it is generally recognised that no one can stand against this proceeding. Tho abominablo Federal Land Tax imposed by the Labour Goverrimont, has no doubt had a serious effect upon thoso who hnvo practically made Australia what it is, and when men have to -pay out yearly tremendous sums by way of taxation, there is no wonder that they decide to sell and clear out. . Wo are only afraid that when a dry timo comes many who have bought land will find themsolves in n tight corner, but it is the desire of all that that, day is far distant. The subject causing .most concern to users on this sido of-tho world is tho progressive and adequate supply of the raw; material, and it is certainly to be hoped that 'enough wool vail be produced to meet the world's needs. : WHERE THE WOOL COSIES FROM. The general reader as a rulo pays little, regard to tnb, sources of supply of tlie raw material, but to any intelligent person whose livelihood is wrapped up m tlio wool trade, even dry figures possess an attraction which-words cannot adequately convey. We know no business wliere the' 'statistical situation is. "conned" with the ardour' seen in the wool industry, and it is 6oine satisfaction to know tnat this aspect of tiie trado is followed so intulligontly and enthusiastically. Tho thanks ut the wliolo trade aro due to two firms especially for the able manner in which they collect'the world's wool news, and ■Messrs. Daigety and Co., Ltd., and 1 11. Scliwartze and Co.; aro to be congratulated on .the , way they marshal figures showing the world's Supply and demind, 'l'ho former firm 'collect in a most intelligent way particulars relating to the Aus-' tralasian end of . tho trade, while tho litter perform'the same service as the wool arrives (in.'-Europe and America.' As ■'.'a: new year opens. the of supplies' is well worthiconsidering. The trado hasV been : called topoii.'this, year to absorb a' record amount of. the raw material, aiid to ; think' that 2,934,000 bales have been consumed is a marvellous testimony to the magnitude of the wool trade. Tlio figures may not look very inipressivo on paper, but they aro indeed and truth of groat portont.' The homo trade has taken li littlo loss than it did in 1911, tho Con* tinent about 18,000 bales more, while the American purchases have shown an expansion of 49,C00 bales. Though the; American takings cannot be despised, the total is no less than 78,000 bales behind that of 1909, and tho purchases during 1912 are not equal to thoso. of many years." Japan seems to bo coming tu tho front in a very remarkable way, and the Far East trade'in wool and textiles is certain to develop. It is'interesting to know that Bradford shipping houses have' this last month -received', some largo and important orders from' China,"'a country which is undoubtedly opening out, and which, with itd adoption of Wo3tern idoas, is going to take big quantities of woollen fabrics.

'Many, leading members of- the trado havo been eo used to seeing wool values at a reasonable'level that they cannot oasily got their minds to believe that prices are going to rule on a higher altitude than wo have seen, but that no doubt is going to be tlw case. At tho opening of tho present century we had crossbred wool at the price of cotton,, but tho , day seems far distant when e'ther merinos or crossbred will be in that neighbourhood again, and to-day if prices had to drop, say, a penny all round, thero would be a very big buy. We think we oannot do bettor at this juncture than show the great quantities of wool which the trado absorbed, in 1912, and if the • reader • compares it with 1900 to 1904, ho will see what a great expansion has taken place. Adding .transit wools and direct imports, including tho sales in London, the total deliveries of oolonial wool to , tho threo sections of tho trado during the past low years oompare aa follows—

Con- Amerlj Home tinental can con- ... * con- ' con-... : sunip- EumiK sumption. • Hon. tion. Total Tear. Bales. Bales. Bales. Bales. 1012 ... 1,055,000 1,778,000 161,000 2,984,000 1911 ...'-1,0(6,000 1,760,000 52,000 2,698,000 1910 ... 1,008,000 1,850,000 125,000 2;783,000 1009 917,006 '.1,558,000 170,000 - 2,081,000 1608 ... • 809,000 1,848,000 94,000 ,2,851,000 1907 857,000 1,372,000 149,000 2,378,000 1906 ... 750,000 1,221,000 ' 100,000 2,071,000 1965 ... (89,000 1,043,000 -• 130,000 1,841,000 1004 ...' 625,000 ' 874,000 - 77,000 1,370,000' 1903 ... 646,000 880,000 59,000 1,685,000 1602 ... 839,000 1,060,000 72,000 1,971,000 1911'.-,. ' 978,000 1,016,000 ' 63,000 2,052,000 I§W 619,000 795,000 53,000 1,407,000

PRICES STEADT. It must bo said that thore is still a holiday feeling about the market, • and things have not yet settled down. As for as one can read: the immediate future, there is every likelihood of somewhat quieter markets, at least until the year b9Comes "wormed" and wo see now things shape at tho'various Australasian selling oentres, and also in Coleman Street. When users have little need t» ■buy for immediate use, they, naturally adopt a rather retiring attitude, and as topmakers are committed to make fairly big deliveries of tops this month, spinnera are naturally reluctant to.oomo in again when they know they will have to pay something like 2d. per lb. more for present- purchases compared with the price tops are being delivered at to-day. This faot alono inakea every nmn think twice, and with no immediate nign of dearer wool, the majority think that it is pokoy to lie low. That in no sense affects the spinning of tho raw material. So far as merinos aro concerned, encouragement is still writ large upon tho staple, and we cannot in the least see where cheaper supplies are coming from. At tho end of the current month Australian weekly saws will be a tiling of the past, even ! Sydney finishing five to Six weeks earlier than usual. This explains how things stand, and to find wool in such small compass is rather ,more than the majority expected. Tho arrivals for the January London esles art very limited indeed, and a, far as one cau' sen there is going to be no big quantity of. wool to lift. The majority of topmakers want 29d. for 64 1, and aro firm at that price. Crossbred topmakers are fairly firm, tkeugli the Balkan trouble is still exeroising considerable influence upon this branch of the trade. Although spinners are running full time, then- position is anything but what it ought to be. Everyone alike has an abundance of orders, but it is the want of particulars which is largely the result of tho present quietness of the crossbred trade that causes the trouble. Still, wool is selling freely in every market of tho world at values above those of the combed article in Bradford. Prices aro 6toady and firm, but there is not an active market. WOOLLEN TRADE BUSY. The new year opens with factories throughout the West Biding-all busy, and

a fairly hopeful foelinK prevails regarding the future. The writer docs-not know a single mill wlicro Blackness obtains, all spinners and manufacturers alike engaged in the men's wear trado having sufficient orders on their books to keep thorn'running for some months to come. What is causing the most concern is the threatened strike among tho dyers, and tlio masters arc in anything but a hopeful framo of mind. It is not so much a. question of advanoe of tohs which is troubling the employer as having control and command of their ' establishments. Tho tyranny of the union has become intolerant, and tho misters think that it is high time to take the bull by the horns, and demand reason and;right. The woolcombing branch of tho trado was just as severely handioapped before the strike of last year, and over since they obtained control of their works they havo had nothing near so much trouble and annoyance. To bo compelled to go in the union for derelict employees is moro than a joke, and while they will gladly grant a sensible advance in wages, the Bradford dyers' combino is making it a condition that thoy "will oinploy whom they like, and dictate their own terms. Apart from this trade is good. Taking things all round, there is not much to complain about. It looks as if wool values had touohod tho top for tho time'being, and here and thero some think' that they could buy coarse crossbreds a shade easier in tho top, but wool continues to soli at recent rates, and thero is nothing to indicate, any .material setback'in values.' Consumption is still at the maximum, :and the year opens with (manufacturers • enjoying a period of prosperity. All descriptions of by-products of tho oombing industry are godtl to- soil. . ,