YORKSHIRE LETTER.

Dominion, Volume 7, Issue 1936, 19 December 1913, Page 10

YORKSHIRE LETTER.

« .. THE HOME TRADE. ' WHAT IS WRONG WITH IT?}*' (From Our Ssccinl Corr«SDand«nts.)4'4' Bradford, November i: " Thoro is really nothinp; new to chronicle this week, eqndilions being . very similar to what wo Have seen during tho past month. As a matter of fact, the raw material is still in the very forefront of tho race, and with a striiEido it is trying to haul tho remainder of the textile trado after it in tho bestj manner possible. And why should it ! not.-' It is an acknowledged rxiom of tho trade that the demand for tho raw material always illustrates actual conditions in manufacturing centres, and if that is so, business must be better than it is generally made out to be. It is right say that things are quiet-, and that thoro is a radical change in the West Riding of Yorkshire trade compared with what we have been accustomed to sec during recent years, but if there is less demonstration and "bounce," we think that consumption is larger than appears on the surface. Wo cannot conceive for a. moment the raw material is bejng. purchased in Australia in tho way it is without- users seeing some light upon tho subject, for they would lusver commit themselves to purchase 600.000 bales of wool at current prices without being to some extent satisfied that iho , raiv material can be used to advantage, However much Yorkshire users may be surprised at the attitude of French and German buyers, tho present- manner of purchasing, the raw material is indicative that manufacturing conditions ;tro still moderately good, and that prospective business in hand is able- to <3<-ul effectively with the wool that has been secured in Adelaide, Melbourne, Sydney and Brisbane. There never was a time in tlm history of tho wool trade when colonial selling centres were vraMied as minutely as they are to-day, and obe tree way that wool is moving into tho hands of users is sufficient to show that after all there is .a fair measure of trade in European consuming centres.'

It- is very remarkablo that so far wo have Had very few advices to the eli'ect that American buyers are operating iu colonial centres. Tho writer has only como across 0110 private cablo which has announced tnat Amenta, was In tho field, and taking good wools, and that caino from byuney a weeit ago. -Wo cannot say that wo attach very much importanco to this isolated message, and so far American purchased have been disappointing. iNo doubt tho chief reason for this is that soina stocks exist in bond at the ports or Boston, A'ew York, and Philadelphia, find after December 1 they will bo duty freo to tho users in the linked states. As a matter of fact, no man knows exactly what is in bond, at least ivhat proportion is merino and vvnat crossbred wool. Mo doubt the merinos consist of tho very pick of Australia's growth, the wools being bought under the old tariff, which imposed a duty of o}d. t per Jb. These wools will servo admirably in "lifting" domestio merinos, and enriching them with better manufacturing properties, for tho Victorian merinos benefit all other American merinos when blended with thorn. Timo is necessary to set "tho into tho niche/' as one plain Yorkshire man said tho other (lay, and by the timo tho wool in bond is access'blo> there will bo plenty of wool available in London to satisfy all prospective American requirements. It is not now as if American buyers woro compelled to purchase Australia's best wools, as in the past, and wo know for a fact that American importers and spinners are disposed at present to husband their resources, and seo what actually can be doiio under the now tariff beforo committing themselves largely by buying wool in Australia. Wo have, thorefore, good reason for saying that no great amount of buying wi 1 be dono in Commonwealth mar. Kots this season, so American users distinctly state that they are goiflj? to wait and seo what is put before them ill London and by Bradford spinners and topmakers before going in for buying heavily at the present timtt. Prospective Ton Purchases, 13'® cannot say that very material Headway has been made in regard to top sales during the past week, 'there is plenty ot gossip on Bradford ehango to tho elt'ect that a few firms have disposed of fair quantities, to be shipped, in tho middle of .December, to be ready for taking out of port after January 1, but tno Bradford export statistics to America for tbo month of October do not indicate any material activity so far. However, we know that sorno fairly good sales have been effected by a low houses, and weights of samples that in ordinary times would be tremendous contiiitto to bo shipped. Many American spinners kavo purchased a fei/ pack lots of practically all qualities they are interested in for tho purpose of testing tho spinning capacity of the Bradford combed article. vVo feel certain that many firms will bo a little disappointed at tho results, and particularly if they purchase the chea'pei and blended tops which are so common on Bradford Exchange. it way bo> worth while mentioning in passing that blending to-day is very largely dono bj Bradford topmakers, bccauso during recent years they have had to work to ■>, price more than ever. Tiicro arc still a small number of firms who produce a top guaranteed to be made from Australian ileece wool, aud if spinners would pay tho jd. more, they would tnoro than regain this in tho spinning operation. The writer could name hajf a dozon firms in worstedopolis who are producing a very reliable article, and in most cases of j steps can " bo bou sht to-day at -is. 4id., and some topmakers are demanding 2s. 5d., the latter will be found to lie tho cheaper in tho long run, notonly giving a better spin, but also better results in tho yarn and piece. Only this woek a letter from a, wellknown firm of Bradford spinners stating distinctly ■ that they found great difficulty in spinning two 48's out of super 60's tops, besides finding that their worsted serges handled harsher than formerly. This is entirely traceable to tho blending which ha'< been dono in the tops, .Masamet skirt wool being very largely used for cheapening tho top. The reader can put it j uown as an actual fact that the more skin wool is used in the production of tops, the worso will be the results obtained in the spinning operation, as well as in tho handling of the woven fabric. Wherever possiblo tops should be bought that are made from wool guaranteed to bo nothing but Australian fleece, and it that is done tho results carl bo relied upon in every succeeding oporat%i. - Adelaide's Third Sals Tho trade seemed vcrji keen' to know tho result of Adelaide's third salo last Monday, and everyone feels indebted lo Messrs. Elder, Smith and Co . Ltd., for their very comprehensive cablo. V.'c-are certain that their enterprise is vorv much appreciated, tho list of marks and prices enabling consumers to seo how things are moving, ft is plain that tho j best combing wools are still selling ai firm prices, though no doubt a iTtllo irregularity was seen in tho shabbier and more wastv descriptions. The present is too early to say how Anstralian merinos aro turning out, except that in tho case of Queensland's now clip sore® very tall stories ari current. We know for a fact that on one lot of Brisbanebought. wools last Juno the top l.ms corno in at 2s. BJd. The shrinkage has i boan. an aTCiafio 6 jjcr caat. nmro tii&u

tho buyer estimated j'<dno''toHhe''.preval-. ouco of;excessive"condition ; .in .the'staple. ■Somo- l 'mt>n' , havb?yet ' to"' learii' that 1 - red .earth and saiid goes down.tho dyke, more 'extensively. thaii>oiiVs : would.H!iink?'' ; aiid it is'r.'i'i'hct !ij)on black ■snili;yieMjjJrttei;>siridJ'spiiii bettor than' soil. There.

.is but .somehow tho'-red .-soil-sfVins'.to-po.':-soss eoiistituenWeleisiorits 'not found iniblaek; soiL-KudUliougiVstheVred earth"andsand afTcc'ts'.!tho.,'groiviiij;. fibro■' more. tha n'S th^ljlaekysat^isijitirenhelesa ; iruo' ihnt'iho maximum i-e.vults' iirnsobtuined ■ from sdie-p; ...beiiig". cUpaslnioil.' ■upon tho' latteriijjisg^^ Prices Barely steady.

The. fact, has \to be xbronidod that priees'are. nq-inore-.thanVsteauy.XOiTliero'' .is.^a'great .flosirotiii West.'Riding to see/wool values down to a lower level, but .the movement - is::m'lmY::sensc. vigor-., r.us.. All ih.i\ same .'-piniu'n; and manu-. farntrer.varW net' .keen lie buy .uiiless thr v can see'.seme- . : advamagiv in'- so doing. ; As<a';;!iiattersjpfi;faet/; (3-I'astops' for'' spot delivery '-'can : ; : be" .bouglit l,to-day' quite ircciy at li:-..-: -tld:.' to 25.. : :'5d.-'; in fact;* the..-hcstS'iiitielo -produced: 1 is -avail--able at the . latter, figure. It. .seems strange .that prices ..should movo/as.they aro doing : in?;face -Kof'/ : iirm 'i.overseas markets, but fair ,stoeks of , tops : still exist, and a.buyer-can. to-.a large oxtent' secure a'go'od.dearofMiis.pwn way. It. is quit® easy'Uo'buy ;.fbi':iiext ; February aiicl later'. months. ,at 2s. 4d., and we know for a;'s fact;; that ,;this week more than one importer offered .their, average G-l's at 2s.' 3sd.Eveiijthat jpriceiidoesi not make spinners , keen;'to',,operate; in fact, they now .want Ho'buy at 2s. 3d. Various views are expressed regarding the-likelihood of, being 1 able to operate at still lower'prices,'.'and; no'doubt that is the desired . .goal, Cheaper ■ wool seems to bo the burden-of-.tho cry of the whole of the West Riding, and jiiany contend that trado ...will/not revive until manufacturers are' able to offer cloths, at- a cheaper rate than'' tliey can to-day. Wo have to report a marked falling-oil ill business, and. short- time -"is very general among crossbred spinners and manufacturers. Many Botany ' spinners are also only working ■; four'days per week, with quite a .host on'-the ' verge of doing likewise.' ~-'This" is. .'not very satisfactory news, but America is. being looked to'to give considerable impetus (o the Bradford trado, and if' important shipments of- wool, tops,"".-'''yarns.;''-and picees. are not- made,'- the West': Riding trade is in.'for a spell of short' timev^V '■:% Future Declining. ' .The market to-day-is ■.vor}vshick'' f, ahd about the worst' seen' this. yea'rVS Br.si-' ness- is being 'conducted T verV--; Sim* ited. lines, .and;.whereverv|)urchaMsXai;c.. made, buyers ttre.bnl.y-;operatiiig'''to.cqycr.. existing to'-bo yiib encouragement'to'anticipate the future, and business is almost j;hc.yery-antithesis of what we have been? accustomed to see during tho past few years. ' 'Advices from overseas markets indicate a slightlv easier tendency, and in face of "i'u-. tures" being weaker on 'Continental terms markets, there'. 1 is'naturally no disposition to buy on forward account. Prices are all displaying signs of weakness, and spinners candidly assert that they have no difficulty in covering all their needs at lees money. Average G-l's aro obtainable to-day at 28Jd.,' and on forward account 28d. would be readily taken. Botany spinners '■ conplain bitterly at tho paucity of/ new business -and thero appears to be nothing . very inspiring in the outlook. Their margins have, all gone,' and very low prices indeed are being taken in order to keep maehmerv running. . Crossbreds nro very similar to merinos, the business doing is exceedingly limited; and we understand some forced sales are taking place which mean very low prices are having to bo', taken: 58's carded tops are' obtainable to-day at 245 ; average 58's, 24d. : ,'s6's. super, 22d.: 56's average, 21Jd.; 50's super., 19id. to 10d.;'. average, 19<!. to lOjd-: 48's, 1/d.; '16's, lfid.; 44's, 15{d.: and 40's. lod., with .fO's - prepared, . 15|d, Both Home and export trades aro-very slack and unresponsive; in fact, many have gone the length of saying to-day that business is distinctly worse all round. News to-day from Rotibaix .and Antwerp gives the termo market as being again weaker with many sellers. In English wools there is less business doing than recently, pripes aro practically unchanged, but unless there is a speedy alteration many holders will .bo faced .with a- direct loss. Country dealers are ver.V firm, and it seems impossible to replace stocks at less money.