YORKSHIRE LETTER.

Dominion, Volume 7, Issue 2153, 20 May 1914, Page 4

YORKSHIRE LETTER.

AMERICA'S CALIi FOR WOOL (From Our Special Correspondent.)- * :■ Bradford, April 3.. Interest- in tho woollen textile trade continues to centre far more around tho raw material, than tho partly or fully manufactured article. It is a case today of tho tail wagging tho dog, of Wool itself forcing the position, and showing tho spinning and manufacturing world its strength. It does indeed scorn strango that tho tables should he so completely turned in its favour, an experience very different from what wo have known ou many former occasions. The writer's mind goes hack at this moment to tho year 1895, when wool was spoken of as ''dirt cheap," and when it abounded on every hand. At that tirno everybody seemed to be filled to tho very brim with stocks of merinos and crossbrcds, particularly the former, and oven London selling brokers had to fore® sales for all they wcro worth. We remember very distinctly buying good, clean Queensland scoured combing wools at ]s. 3d. per lb., tho same brand to-day being well worth 2s. 3d., if not more. The fact is, tho raw material could then be pjjked up at almost the prico of an old song, and greasy coming merinos that would, give a clean yield of flCi per cent, was frequently selling at 7d. to Bd, per lb, Today a very different tale has to ho told. Wo find that prices are almost 50 per cent, higher for every grade of wool, and tho demand is to-day distinctly keener than theft, notwithstanding that trade is spoken of as being indifferent. Our firm conviction is that it is not so muclithe consumptive end of the trade that is wrong as tho small profit that i ! resulting from :ho manipulation of the raw material, which is the chief cause of the present feelings of dissatisfaction which arise on every hand.

TOP SALES SLOW. Turning to actual market conditions, we find that .so far as top business is concerned, things are skiv and unsatisfactory. Spinners are finding sales difficult to make, and rather than commit themselves to further engagements are preferring to take up their old contracts and use off the orders already placed. Many firms are wow spinning tops which have cost thonj anywhere from 2d. to 3d. less limn, they could buy at to-day, and -finding very little response to current quotations for yarns, are sailing very near the land. There scorns at tlie moment to be loss enterprise among tho members of tho Bradford trade than wo have known for several years, due to the piece business of the city being far from robust. Tho fact is, conditions obtain to-day to which Bradford spinners and manufacturers have been strangers for the past Tivo years, and not even its 1908, when the market was stifferinn on account of tlio American financial crisis, were things so quiet in manufacturing cir» cles as tliev are now. In that year it seems ns if tlx* world's trade in textiles was steadily developing, whereas :fo-da.y requirement's appear to ho on the decline. Tomnakers are fairly busy meeting their obligations, hut. they are finding now business distinctly'on tho slow side, and therefore are complaining a good dent. Commission \vo:olcombers arc also in the same position. Wo-should say to-day that not 7o per cent; of tho -com bins: maefiinofv ?n Bradford is running full time, and for April precious little night work is being done. Prices for merinos a*o very firm, although 2s. 5Jd. seems to bs about the utmost that can be made, for a realty cood 6-I's top, with super GO's Id. less. Experience proves that there is to-day a bigger demand for what may be called low and medium merinos, say fiO's to 6-I's than for counts that a-ro higher, tliero being to-day a greater -straining after something reasonable ;n prioo than we liavo seen for some time.

CROSSBBIBS NO MORE THAN STEADY. Thero is the same difficwlty in handling * crossbfeds, ii'i fact moro than we iind in merinos. We hear on the best authority, that some Bradford shipping j houses aro offering tops at Joss money j than/tlioy ffwe ten days ago, and \yg j find a tendency among ihoso who have been fortunate enough to buy when prices, were. A.i .the lowest point 1-as.t De» cember, to sell - at under. . topmakers' quotations, and so realise .their: profits. There seems to be tho most irregularity in medium crossbreds, coarse and fine qualities being steadier and firmer. This is not to bo wondoro'd at in vieis; of tlio prospective offerings- in Loriddn. Everybody knows that the Now Zealand elitj this season is running more-than -ever to medium quality wools, and this' is to -bo regretted. Last series there was; an abundant supply of 44's to 48's quality, while S6''s to uO's as well as tiO's j to. 56's quality ivouis were somewhat' scarce. No cfoK'bt New Zealand pastor-1 alists are poing m very strongly, indeed for producing a good freezer and a mod-1 erate weight ffceco animal, and the Eoraney Marsh, sheep is' tho most favoured. sire. All this inoaiis a big supply of medium crossbred wool, .and therefore everything prints to-day to this quality of raw material being a, littles cheaper noxt series in Soridaii. . A good many complaints arc heard at the hands of crossbred spinners about tho unsatisfactory state of the yarn trade, spinners not being go nraeh short of orders as particulars. It now turns out that a good deail of the big buy last January and February M'as speculative, and to-day several export houses are 3oing their utmost to sell their surplus yarns abroad, even though''ttlo.v have to take less than spinners are qriotins for sinrilar yarns to-day. So far as the esport yarn end of the trade is concerned, spinners '®pem to be completely out of it alongside Bradford shipping'houses, who are in a position to sell at under what spinners rail take to-day. We cannot hear of any marked degree of activity in crossbred yams for tho United States, although. some very reasonable lines can he' picked up in the- second-band niarke,t. • ' POSITION OF WOOL, There is one item of particular intercut to those not in/imediatelv engaged in tlie Bradford trade, Inst who are indirectly .interested iu.it. Stocks of wool are admitted to be much under [Kir in tlie West Hiding, and considering tho time of the year it is amazing that so small a weight .of wool should be iu sight. Of course, direct imports aro now pouring into consuming centres in I a more normal way, but topmakers' warehouses, railway' stations, and combing establishments are all very lightly stocked iftdeed. A year ago evcryb-sciy was seeking extra room; . to-day th'o very opposite is the ease, the result being that a good many wilt be forced to come into the market later oil in order to J;oc|j their' machinery rumntig. Commission wool Vombcrs in* particular are having a bud time, and we shall ho surprised if somo of the dividends do not sillier materially at the end of the year. Tho feeling obtains that wool values aro not swing to show much change compared with current prices. It seems useless hoping for. cheaper wool, particularly merinos and fine crossbred*. From all wo can gallier, .110 material 'stocks wilt be sent from the Continent, to J.osidna for re-sale, - for Wench ?pinners in 'particular are so busy that they e»n deal with what they have on hand. We bear that Konlsaix topmakers; aro comfortably situated, and many are wolulerir:g where fine wools are coming from for thehiost London sales. The fact is, the whole market is lighth* stocked, and therefore prospects point to a steadv and firm woo! values. America is. a farrtv ao!ire customer even to-day. and is buying very commendable weights of both merinos and crossbred?., though tho latter are

scarce. , Wo..know one firm with very good orders on. their books for' tho United States, hut they jmroa difficulty in findin" exactly what is wanted.. Further good sales of crossbrcds are boiug made, and oven Mnzamet skill wools aro selling in considerable quantities. In fait, tho American demand for wool in the prime factor in relieving depression in .Bradford wool circles to-day.

THE PIECE TRADE. As I writo the exports from the Bradford Consular District to tho United States for tho mouth of March are unpublished,. but wo understand'thoy will be considerable, the total not heingfar off the figures for February. Tho pipes trade actually doing is a decent one. Wo find that ii-i dress goods there is nothing very special, except one firm is shipping fairly, big weights. of Henriettas with the cravencttc finish, Pernios, serges and an endless variety -of ladies' dress goods, including lustres and inolmirs. Fashions this .spring in England aro running upon very lolul tolenrs, almost deep reds, silver greys, fawns and drabs, in fact.' for once it is going to bo a. show season. In men's wear, sorao nice quantities of wo-rslod coatings are being shipped, but woollen cloths aro figuring to-day more prominently than at any'time this season. Checks aro coming to tho front fairly well, and check effects for'ladies' dreSR goo-tils aro a leading feature. Donegal tweeds are al.se well to the front and Scotch Saxony fabrics aro also selling freely. Low tweeds from Biit.ley, Dewsbury and Huddorsfteld are also occupying a. leading.place in tho exports, and everything from Is. 3d. to ss. 6d. per yard, covering an . endless, variety of cloths, is being shipped. Manufacturers are now making active preparations for showing for the spring of 1915, and American mills will hwo to'produce something very showy at a little price if they aro to retain their hold lipon their own market. Very great, bsp is being made of soft handling shoddies, and anything of a -lrhsjory nature, including Berlins and stockings, is selling at 'the prico of v- >01, all for the production of.cheap full handling efftciivo tn-eeds.

Bradford, April 10. Wo ate face to face this "Week ■ with conditions-very similar to last, only one observes that tliero is no ctiminutiou'in tiro interest taken in the coursot of the row material. Tlie fact has again been ill evidence that wool itself is the 'Alpha ami Omega of the situation,' and, go where .w® will, wc- find that this is directly due to West Kidins; topinakers and spinners being un-der-supplied. We have before tnestioH-j: e-d thai; the abstention of buying in Australia towards the end of last year is to-day bearing fruit, there being very few firms indeed who can keep their itlmte staff .fully employed, and their machinery.running full time. With the Easter lwlidayis appro-aching and a toal strike into the bargain, seme firms are proposing standing a fail week, but- wo doubt my itaich whether this will take olaee. ■ Yorkshire .mill-owners act- very differently to those in the United States'. /Shutting down in the West Kiding 'is altogether unknown, and sve do not- remember a. mill standing i hilly 'in all oar lifetime. Mill-owners, [think too mnch of their 'Workpeople, [and know the difficulty they would h-avo ill restaflmg if they shut down for 'eten a fortnight, and to stand indefinitely is !an experience which' is absolutely unknown! Therefore most'mills are si.mt*ly standing Monday and Tuesday, a big effort, being made by' all to run' their [plants full tune. • Wc find that, sortie | iopmakers -arc rather iißdcr-fitn'ffied, at least 'their hands are Hfl't working j full time', siumly because .of aii incomplete sirpplv of wool.

Outtobfc for Raw Material,?. ' Wo are disposed to*da'y to coitsider more .completely;-: the otitioolt' f6.r r tho' : raw material.;. We fjnd two strong opposing factors, there being a section' w3io nr» strong believers in prices - being m&iritaiiied at to-day's level, and others who are persistent, in afflrnrin& i that crossbreds will be cheaper. Looking at merinos, wo fail to see any sign of cheaper raw material. Where is it coming. : from? We are told that- the American domestic clip will be less than • fast year, which showed a. great-- shrinkage' compared with th<> previous season. Am'ericait wool growers ite doubt'feel -very sore at. wool h««ig put upon tlie.fre© Jist, but We say candidly that this is a developnient whreh ought to be welcomed, and however displeasing it -may lie to some, fl<e think it will he a Idli-g time before any nation' will. resort to the practice of taxing imports-'of rawwool. France;and Gorniariy--bfith higfu protectionist admitted wml-free for a long •time, ■'"and BtJssia d«cs the same. Those Who view the state of the American festilo trndo impartially strongly'affirm that one of tlio first- essentials to wcet liuropoan ce.n;petition is having a large sunisly of Au>< trft.liaii meri'tws, New .Zealand' cr«sshreds, nnrt English wools available,' but whether there is room for ineraa.Scd duties,oii serai' and fnlly-itinnuj'aetared artirfes is no doubt 'open for snore ,Veasonabl'e debate. We therefore e&nsitlei' that the outlook for mefi.nos_ is a partieularly bright one, and this in face of not the best Manufacturing conditions in Bradford, Hitddersfteid, an 3 district. It is neieworthy that the lo*v> class woollen m-annfaetnrers are busier than tlioso nrodiicitig high-class worsteds, ami 'that dearly shows the deney ftf both fashion; aiid hiarl«;ts. It is'nuite true to say that'wholesale fab-i-iclnvjershave not yet strewed, up their coarageto pay wlilit raanufaciiw-ers. are denranding for solid, worsteds, aijrt being faced with prices from Gs. to Bs. per yard for solid worsteds, is not, an cs'nerißiiee which they are' appreciating. Still, we cannot see where cheaper iiiivino wool is coming -from. Hosiery spinners and manufacturers.are on the whole fairly well employed. Scotch maiiufae.tin'ers are. making very attractive liites of Saxony cloths, which nro absorbing merinos and fine erflfssbreds, and even in HuddmAHd,. DowsliOTy, Batley, Leeds, and district, big.lycights of Kiseh useful merinos as.broken, piece;, bellies, and locks are us«l after being carbonised. It is rather signUioant that of'late'demand has. been very good for all shabby carbonised raw material, even merino card 'wasto from the coinbivig operation selling up to I4d. per lb. Big weichts of car'braniried noils are sold every week; in fact, the demand lately for alt the hy-pVodiiet.s of the wool trade has exceeded supplies; Dealing with this aspect of tho trade, it is worth mentioning that American demand for noils and wastes has recently been exceedingly good. For soft wastes, that is, those bordering npnn v shoddy pulled from stockings and berliiis, tho demand , has been particularly keen, aiid wo doiib't if for spinners' wastes any firm can supply ten. bales to-day. Very liiff. prices arc forthcoming, awl those things when, garnettel. that is, pulled up into a -usable condition, arc fetching extreme priee-s. .We. find that lamb's wool when clean carbonised is also moving in good, weights; in fact, lamb's wool is as;'scare© almost as sovereigns in a poor "man's pocket, and therefore there is no chance whatever of it being a fraction.cheaper this year. Of late years the channels into which, it lias entered have greatly increased, and .we find to-dav tlio hosiery trade taking large quantities, while those making elieap tweeds are also been to buy in or der to cover up Ihe targe quantities of shoddy anil 1111111.20 which are being used by carded manufacturers.

Goncfirnine Crossbreijs. When we como to croesbreds wo find thflt hero there is a diversity of opinion expressed. A remark mo do this week by a tt-acliiig firm of Bradford topmakers gives one the impression that fine halfbred wools are growing scarcer,- and aro therefore going to be no cheaper in London. Wo-share that view entirely. At the last series of London -sales' tlfci' Weight of halibred wools catalogued was

loss than wo have seen for a March scries of soles, ami we aro slot looking for :-i big jjuantity of 60's to GG'-s wool being available this next series, when there is every prospect of a very large weight of crossbred wool being available. Mow can there bo any weight of fine halfbrcd wool available wbe« merino sheep are growing less and less every year in New Zealand ? We aro speaking from nrimicry, but we believe, wo are correct in saying that no more than ■GI),OO0 merino sheep are to-day ' being -depastured in Now Zealand, and' that small number of sheep cannot produce a big weight of halfbml wool. The- only doubt that surrounds the future course of crossbred* is in medium sorts', and tho increasing use of the Romuoy as a sire is the sole wason for such- largo quantities of 4-I's to 48's wioi being iivaifablo among New Zealand clips. Deep Sfi's and 40'e wools aro also growing less and less as years go by, therefore the outlook for strong crossbrcds is also a very healthy one. Bradford topmrtkefs' arc hoping to do a hit of good out of medium qualities, and probably «t lid. to .11 Jd. decent tii-prouking wool will he available, Inst as for prices being lower, wo dotibfc it very much indccfi. Those controlling the offering of New Zealand clips in London aro as much nlivo to tho exigencies of the situation as anyone else, and it will nwt tafeo mttch weakness for' tlic-m to dneido to carry forward 60,000 bales, if need be, to a .later period in tho rear. Wo are afraid tliat aiirano building upon cheaper crossbred wools, is leaning upon a very •weak reed, Condition of the Woollen Trade.

Wc find to-day- among West Hiding manufacturers a tendency towards d-ft-' .Tcloproent rather than contraction. We cannot hear of standing looms increasing, and although all our friends say tlwt. business is far from being satisfactory, yet wo can only judge tho situation by what .wo see. lluddcrslleld firms ,'i.te no worse, than they tvero, .although weavers have often to- jjlay one or two days after "felling." before n new warp is available. Still the measure of. slackness is very small, consequently wo find tho majority disposed to look oil more coHiplaccntly and. striigglo tilwi-gh rather than extend the wensure of holidays .for, JSasicr. The hulk oftho mills aro standing Monday ' and Tuesday, but that is nil. . The coal strike lias, not made things so mieoinfortaMi), a.s yet.as'to forecast any long period of .play. , Outside .countries are sending in. considerable quantities of coal, and mill owners ore paying- anywhere from 4.5. to Bs. por. ton more.rather- than let tfeir :.mills stand.. We find, that the dstnawl for checks is. an expanding one, and some vety smart things Indeed are being turned.out both, for men's and we-. . Bion's ■ voear. . There is really nothing new ah,nil them* except a few more fancy threads have been introduced, but i he. quiet yet flistincuve shades aro making many cloths to become ;cnrkhod with an la&racttomess which is appealing very effectively. to. •» largo jMiwher of .clients. Those producing ladies 1 meltons aw not by. any means busy,. tho Tar Eastern trad® being father quieter. We asis find lees .doing on South American account, and even Canadian requirements are .not -to-day so very pronounced as wo have seen. All the spring 'fabrics have been skipped, and to-dav Some 'inns are. fairly busy on next winter account, and again making so'mn ,»ko weights of thick heavy blanket clotlis. America bafc recently placed some further important orders for cheap fancy tweeds,'and some very tiieo lines indeed aro being mad© from Is. Gd. to 2-s. 6d. per yard, 35 inches wide. W« consider the West Riding woollen imtosti? is enjoying about a. nornval season's trade. i