YORKSHIRE LETTER.

Dominion, Volume 7, Issue 1981, 11 February 1914, Page 5

YORKSHIRE LETTER.

-♦ ) SIGNS OF IMPROVEMENT. '• Our Special" Corrc6pondenls.) 'Bradford, January 2, 1914. Mills resumed work last Monday after the., Christmas holidays, and a better . feeling,. and one more akin to business, now dominates tho wool and textile in- , terefits. Wo chronicled a week ago an improvement in tho market; in fact, a fair amount of business was put through ■ on tho evo of Christmas, Day, there evidently being a desire on the part of all i sections of vho trade to cover what ordI ers they had, and so have an easy mind for the approaching festivities. In faot, to a very close observer there has been a gradually improving market duringtho past ten days,, tho impression gaining ground that the bottom was touch- , ed. Very considerable sales of 61's tops have taken placo at as low as 2s. 2Jd., but we-doubt if anyone could buy today under 2s. 3Jd., tho present temper of many firnjs being such that they would not cede a fraction from 2s. 3Jd. No doubt the business done has been tho direct outcome of contracts booked at the lowest point, and it is significant that, the orders for tops have been placed principally by Home trade spinners', this being particularly so in regard to merinos. We think that the action of several firms clearly shows what is t'ho actual standing of the raw material, The firm finish of the sales in Australia no doubt emphasised the necessity for those who had dono business to cover sarna, and it needed 110 very strong buying movement to force top--1 makers to adopt a more confident position. We have never been able thoroughly to understand the low .prices that have been taken for tops in view of wool selling cither at the last London sales or ill Australia, but there are ' firms with combing machinery who apparently must keep their plant running, and who must sell at the best price obtainable. WHAT THE MOVE MEANS. W© think it may bo taken for granted that the move contained possibi'.i- - ties which will express themselves in a very tangible form at no distant date. That, is to say, _wo believe there is business now waiting such 'as we have not, seen, in tho West Hiding of Yorkshire for some .considerable lime. For six months it lias been a fight against tremendous odds, factors and forces have been at work which have dealt a depressing blow to all markets, and although wool has continued to sell in a very satisfactory way, particularly £t Australian and South African selling centres, there has been no adequate rer sponse hero whatever. In fact, it appears even to-day -as if those who bought early in Australia have not done too well, that is, unless they have sold as they went oil. However, it is of little uso speaking about the past, the present and tho future being to-day uppermost in tho minds of all. The year 1913 lias gone. It brought no good to any party, tho wool trade, suffering rather serious ksses. It is now' too early to. shout, but still the outloojc has considerably cleared, and the present move is-certainly of an encouraging nature. As already said, wo know that considerable business has been doiie in tops, and yarns as well as pieces, consequently tho latest turn is in no senso speculative. 11l fact, that'word speculative has been an unknown quantity in the Bradford wool trad© now for a few years, and it is better so Business' has been done mora or less upon a hand-to-mouth basis, users buying what -they felt they would-neei}; later on; That :i3 exactly' the' position of things to-day. SpinneM especially have been buying because 'they'..have sold yams, the only fault being,that 5 j>ho'£ales have been, -af- ' fectcd on a profiles basisV"'W<V'know for a, fact that tho bulk of tho big sales . in 64's have been at 2s. 24d. to 2s. 3d., . -and the same lean-.margins -have been noted in Botany yarns, as low as 3s. .having been taken for 2-CO's. MANUFACTURERS SLIGHTLY BET- , : TER OFF. :Wo think, if ■ the . present move is probed to- tho bottom it will be found that it is': the direct outcome of in-creased-business in .men's wear fabrics. This is as'it' should be. The past season's trado has- been an .absolute failure, duo entirely to the mildness of the weather. At present. Great Britain is experiencing tho'.first "cold snap" of tho winter, and snow covers tho ground. There-is j-et time for some fair weights of heavy overcoatings and.thicker uni denvear fabrics, to be shifted -into, tho hands of consumers, but after so much, time being losVit is hardly likely that the arrears can be altogether made up. Still, there is time for stocks to be considerably lightened, and that is what wo ; all desire to see. Manufacturers have not as yet dono much more-than deliver their first pieces for spring, but if re- , tail clothiers aro able to lighten their stocks, wholesale clothiers and merchants will .quickly benefit. Ono certainly thinks that it is time for the piece end of the trade to improve, although, considerable complaints aro heard at tho hands of export firms. Shipping houses say that the. Canadian trade is "completely off," and the same has to bo said for South America. THE AMERICAN TRADE. . The exports for December 'from tho Bradford consular district have not yet been published; in fact, as we write this tho list Gas only just been closed, and with the mail about to be dispatched wo cannot give tho details in this letter. 'All we can say is that a very active month has been experienced at the Consul's office, and a good deal of overtime has had to be worked. This means that shipments have been made in considerable quantities, and we fully expect that December returns to be the best , seen for many years. . Fair weights of woven' fabrics have been shipped in readiness for entering under the lower duties of January 1, and, we fully expect that business will assume a.rfair degree of activity now . that the lower duties obtain. We hear on very good authority that fairly big quantities of alpaca linings, woollen goods, worsteds, as well as noils and wool wastes have been sent to, the: States, but the most important item of all istho iccreased quantities of-wool which aro being taken. Wo know of considerable shipments of both merinos and crossbreds, and English wools- also, while the orders placed for tops and noils during the past ■ fortnight have been the best seen for many, years. Wo understand that during the past .week some fairly largo orders for merino tops have been booked, as high as 2s. 35-d. being paid for a very good 64's. Evidently some firms are disposed to try the spinning qualities of fTlcse, and wo think that American buyers . should be cautioned against purchasing tho cheapest tops that'aro offered them, .for they must clearly understand that big - Quantities aro produced in Bradford that are blended, with Mazamet skin wools and slipes, as. well as English skin wool, according to the qualities which aro bein£ made. These blended tops do not spin like those made from pure, greasy, fleece wools, and wo think that users will be well advised to have a guarantee for all their purchases that the tops aro combed from good fleec" wools, because }d. more paid for such tops will assure tho best results in spinning, besides producing fabrics of softer touch and fuller in the banOlo.