YORKSHIRE LETTER.

Dominion, Volume 6, Issue 1856, 16 September 1913, Page 5

YORKSHIRE LETTER.

MANUFACTURERS' VIEWS.

(From Our Snocial Correspondents.) Bradford, August 8. The writer had a most interesting conversation a few days ago with a topmaker ami a spinner, and later with a manufacturer. Thus only a wool merchant was needed to complete the four chief divisions of the consuming end of the trade. In tho course of tho talk it was elicited that there aro more wool sorters on the streets in Bradford than for a long time past. Not a few big tepmakers havo dismissed many of tho men. The linns have the wool, but caniiot sell tho tops. They see a chance of getting their own back from selling the wool, if no more, and so they prefer tp hold it as wcol. The conversation drifted to tho parlous itato of tho English trade, ono of tho company chiming in, saying, "There had been some very hot-headed buyfiig, as much as 14d. having been paid for Irish wools, whole fleeces, that is, containing all the low parts, casts and cotts, and the same wools can. bo bought to-dav in Bradford for 13d 1 Nobody wants to do anything at present." _ . Conversation then turnod to merinosThe market has been in tho samo mood for weeks, and there is as yet no reason to mako 0110 expect it will . greatly brighten up. Holders can afford to wait now, but the question is, How much longer can they wait? In January and February sevoral firms bought all they needed until November and December of this year. "What was their basis? Two shillings and four halfpence for 64'5," said the spinner. Here the topmaker put in a word. "1 was looking through my books last week, and 1 find I did all my transactions at the back end of January and the beginning of February on that basis. It was 2s. 4d. in December last. The 2s. 4Jd. basis was the right one to work oii for this state of the market. Some firms went and bought ht 2s. 5Jd., and 2s. 6d., expecting 64's to bo at 2s. Bd. by now. Why, 1 don't know. I think tiiey havo counted on the much-boomed shortage in tho Australian clip to do too many things, and sending up the prico of 64's to 2s. Bd. is ono of them. I never could see that price coming." "I agree with you," tho spiriuer said,' "and I guarantee 95 per ceut. of Bradford spinners havo stocks of tops now which tliey bought at half-a-crown. I can buy tho best 64's top I want to-day at 2s. 5d., a top that will spin without an end coming down. With a lot of tops to-day you have half a dozen ends down in a siiiglo frame. 1 certainly think tho basis for next year will be 2s. 2d." 1 told him I thought 2s. 3d. would bo nearer tho mark, because starting a season's trade on a reasonable basis gives a better chance for a prosperous twelve months' trade than when prices are unduly high. There has been a lot of business done this year, but it' will not be "fat" business. How can it bo with the level of prices where they are, and the tendency downward instead of upward just when everybody thought values would be up?

A Manufacturer's Story. The same evening the manufacturer had a tale to tell. Mo said ho was very busy. .He lias been for months and months; mostly on raincoat cloths — garbadines. Not so long since lie would liavo hailed with joy any commission weaver that could set even one loop going on his account. How ho is in this respect at present I cannot tell, but still ho is working at top pressure, "liko most others," as lie says. "I say," lie remarked, "spinners are in a bit of an uncomfortable, position in the crossbred' section of the trade." "Why?" "B&cause if fliey were not, this would, not havo happened: We wanted some 2-40's yarns, spun out ;of 46's tops.' One firm quoted us 2s 3£d. We asked them their prico for a quantity, say 10,0001b. Their quotation at once eamo down to 2s. 2}d. We eventually bought from them at "2s. 13d. 1 That's a drop. Thoy must be just burning to sell. How they manage to do it with tops at thoir present figure I cannot understand. They must havo a good lot of stock on hand, somo of .which they are compelled to realise, or they havo bought big weights of tops a long time ago at a low rate. I know when yarn values started to go up we could put one or two orders through at less than some other manufacturers were asking, just because wo 'had bought a big weight of fyarn before, the rise. Of course, wo only did this for our very best customers, and lve had to toll them it could only bo managed for one crder. But just lately wo havo not paid so much, as I told you. For the yarn I was telling you about,, another firm quoted 2s. 3a. Wo beat them down even to 2s. 0U1.," and with good reason ho added, "Methinks the crossbred yarn spinners could be in a much bettor way than thoy arc now."

The foregoing account is thoroughly representative and reliable as regards the outlook from tlio viewpoints of topmakers, spinners and manufacturers today. Tlio great boom in prices has not come. It is now the holiday season, and it will continue well into .September. Booms very rarely come in tho holidays, so it looks as if tho long-expected one will have to be expected yet longer. All tlio same there is not n depressed feeling in Bradford, the most uneasiness being felt as to the permancnco of values. Crossbreds are passing through tho small sieve, the recent Balkan troublehaving inflicted a very crushing blow to the whole of this branch of the trade. Jferino3 appear to bo bettor situated, although, as will have been seen from the above conversation, spinners are disposed to consider offers for tho future supply of yarns at sensibly lower values than they have been accepting recently. Tin's may bo taken to indicato how tilings aro shaping.