YORKSHIRE LETTER.

Dominion, Volume 7, Issue 2010, 18 March 1914, Page 5

YORKSHIRE LETTER.

BUSINESS BETTER. PRICES SENSIBLY HIGHER. | (From Our Special Corcdssjonfeus.) Bradford, February 6, 1914. We have to record another week oi improved business. The market shows expansion in every branch, and trade generally can ho described as distinctly better than wo havo beca accustomed to see for some considerable time. As a, matter of fact, the business dene both in wool, tops, and yarns is such as to give the impression that trade is assuming move norms! proportions, and. jio doubt, that is a fact. Tiieextrease quietness of the past four months seems to havo been left behind. It is somewhat unusual for Yorkshire spinners and manufacturers to -encounter a period of slackness, with .mills _ only partly run and with much machinery standing. This {state ef things still obtains in many cases. At HucMcrstieM last Saturday there was quite a congregation of leading manufacturers of the district, amongst whom the stato of trade and the attitude <rf things on Bradford Exchange formed the prip cipal topic of conversation. All ft-dntit-ted to having considerable standing machinery, and several firms are running short time. Ofto person offered to wager that in throe months both merino and crossbred wool wauld- bo cheaper, the unanimous verdict being that there was nothing whatever ,w warrant the position ef wool values and their rising tendency. Still, we ndve to admit that wool, tops, and jaras all point to a rise, tho recent move being directly the outcome of less skeks than usual at this time of the year. Even a ''squeeze" has been, mentioned, but that term we entirely ignore. It h quito .true that ift crosslifods tfcere is ■ here and there a scarcity, btrt as yet we aro unable to find a single prrty that admits being unable to .run machinery through . ok . msuftcient supply of ,- either wool or tops.

Fine V/Dols. ..Merinos have shared fully in the improvement wliicii has taken jAace, lws is due entirely to a covering inowment and to the increased call that- has been experienced both for wool as weil as tops. We liavo previously mentioned the fact that fashions are (.til! favouring, fine handling fabrics, ami spinners seem to have booked sufficient new business to prompt them to buy tops more extensively. Ail topmakers affirm that they have felt the quickened pulse of increased business, and as no* body appears to have any surplus material bought, they have- advanced their quotations in order to prepare tor increased prices ruling for vrcol. Many arc waiting and anticipating tho Jlareli series of .London sales, and there is certainly nothing on the horizon to indicate any less money being probable; in fact, -it looks as if Jneriwcs will be dearer and even crossbrecls ecjual to last sales' best pricos. There is every appearance of thero being about equal amounts of meriuo and crossbred wools available, and if there is no lisfl <Jiiring tho next three weeks, wo are cer* tain to see a very satisfactory series of sales. American users should, prepare for a good selection of crossbred wools; in fact, at. the March and May series of sales will be catalogued the best crossbreds that New Zealand can .produce. There are also 'gOHeral expectations of more crossbred wool being sold this year in London than, last year, as freezing establishments are exceedingly busy. Big quantities of sheep and lambs are being killed, anji there will therefore be a very food selection bot)i of.slipo and greasy fleece,,w-«io,ls, -But, so far- as merinos are oouowrted thefe is. a very satisfactory demand. More sorters are working, commission Combers are busier, therefore consumption is distinctly larger than usual, and the trade in. general presents a healthier appearance, although business is by no means as good as it might be.

Prices havo responded, and to<lay even average 64's tops are not a'vait. able under '2s. «ljd. iPei'bdps a s.pot lot could bo secured at Jd. less, but the majority of topmakers are very firm x at 2s. 4-id., with 2s, sd'. far a better aiticje. Merinos aro dearer all round, and it looks as if there will be no lower prices ruling during tli-o next few months. In fact, we have come to tho conclusion that unless trade slackens and consumption decreases, wool f will not bo cheaper for mini} , liiontlis to come. ' Tho lowering; of tlie bank rate to 3 per cent, is ajse a factor which will materially Assist, in lifting ali arrivals, consequently users, wo think, must prepare for to-day's pikes being maintained. There "is aw undoubted scarcity of Cape tops. Bradford iiii' porters have all through ttio season been unable to lift South African woels in , competition with Germany, the result being that tho season is practically over and very little Capo ■wo&I indeed is available. A really gsod- (M's Capa top is worth to-day 2s. 4d., this scription having appreciated jtl. to. i&. during tho past fortnight. . Wlk-b we mention that a good month baek the same article could ho bought at 2s, 2id., the 'reader can see tlie great chaiifltt that lias como over the market for this class of. staple. Caps tops are also supplying spinners with material that is meeting their reqmremejvts for finespun yarns, and with the Atistraliais , clip this season being stronger than usual,-Cape tnpa scorn to l>o more appreciated than ever they were. As a matter of fact, the upward tendency of values and the price of nil Sim tops to-day is as much dictated l>y ans-enCe of stocks as any actual increase in tlr-B consumptive demand, and if stocks 'md been at all heavy prices would never have appreciated as they have. ' Latest Doings With America, The trade with tho United States continues to run, along very' general lines' without being of a very pronounced order. Tho week has brought forth new business in colonial wool as well as both merino and crossbred tops being ■ shipped. The ktter comprise tops ranging from 40's to 4S's (jMlity, and good 64's have also bceu taken in fair weights. The yarns exported comprise mostly silk, there being no outstanding feaiure in worsted yarns, and so far that br; mi of the trade is disappointing. . EiiglisK wools are beiivg 'taken m fair weights, mostly medium qualities', _bat there is no prcssuro here wliioli might

liuvo any influence iipoit prices, , and practically all descriptions can Ire bought at recent rates. Business in piece good* snovra scree expansion. Worsted coatings arc taiiig taken in fair weights and in all qiialtte, ranging from the cheapest to good super riualitv cloths. Wo cannot hear of any ■Frcnchbacks being shipped, Imt more business is going forward ■chiefly m twills, tow faiicios arc also being taken, hut oven here there is not the iflisiness doing that one might .liavo oxneotcd. Accounts of showing for UeSt fall recoived in Bradford aro not of tlie mMcs , ., althoua;h somo good indents have beea booked. United States mannfaeturers wjll have to encounter very keen competition m such fabrics as gabardiues snd winproofs,, somo really exquisite things at present being made in a big number of shades. Business all txrtintl shows an expansion 'In these particulars. _ Some very good gabardines are available as low as 3s. 6d. per yard, and if cno will give up to ss. 6tl. some really finn cloths can bo secured. Tlio Market all round shows a full maintenance of it- [ cent trade. Dress goods are being siu'ppttd mostly

in cotton and wool, nn<l fashions scorn to bo favouring full haudlina materials. Bradford Trade Witli America. 3he American Consul has just ini<> Jisiied his monthly list, sliowiiig;t!.e ex- I ports for Jamiarv frein the liradfurii Consular district'to the TJniiorl. States,/ and they show some remarkable increases, almost startling in their extent. The wore one analyses tlie shipments *hx> more surprising do they become. Ono hardly knows ws>at conclusion, to como to after looking down the list and comparing the figures with January, 1013, au d they make cue seeptical as to whether JJcV Kngknd mills <;an yet hold their own i gainst the raannfacturers of this district. N ' united States producers v.-.il'l bo ft.ost concerned yvitli the remarkable show of i-Mlly-Bwuufactiired articles. Wool dress I goods have grown by leaps nnd bomith, j and. ftro rejirespnteif by a shipment of I £70,&i3 i wool listings are also well itp to [ &>1,054. _ Worsted coatings actually show an increase of over 51)0 per eeitt. compared with the shipments in January, 11)13. A further noteworthy shipment, in worsted and ■mohair yarns, tlie tetal being £19,133, compared with £306 %• the corresponding month .1 year ago. Wool tops, toe, %fe also a rcipecUbio total of £17,084, while if wo hole tlse shipments of raw wool, the increases are significant. The total for tho month aggregates £352,190, compared with £220,823 for the corresponding month a. year ago, or an increase of £331,807.