YORKSHIRE LETTER

Dominion, Volume 8, Issue 2349, 4 January 1915, Page 8

YORKSHIRE LETTER

TOPMAKERS PLAYING THE GAME WELL (From Our Special Correspondents.) Bradford, November 20. The question of the embargo on wool is. still receivkg..the'attention' of the industry as well as the Board of Trade. .This latter body has issued e circular stating the principles on which applications for licenses for export are now being dealt. with in the case of wool and woollen goods, which reads as follows:— -

Raw wool, shoddy, woollen and worsted yarn: Licenses will in general be ['considered .only 1 when the goods are destined for British territory or Allied countries. '.-.-'On- production of convincing evidence (such as a certificate from the Bradford Conditioning House) that the wool is quite unsuitable, for. army purposes, lienses for export to other destinations may'beT considered. Cloth: The exportation of kEaki woollen cloth is absolutely prohibited (except for the'military purposes' of: the Dominions).. Women's' dress stuffs and fancy cloths may go freely. Other woollen and-worsted cloth-will not bo allowed to be'exported .if 'there is.'any possibility of; usingVii. for uniform purposes,' and'a Government.Committee is going, through' the ; applications with representatives of the Bradford, Leeds, and' Hudders'field Chambers 'of 'Commerce, and of the Army Clothing. Factory, with a view to deciding,- on expert advice, which cloths may go. .Glove's,-' socks, jerseys, and underwear: If', these are -at all likely tp be useful for army' purposes applications for licenses will, only; be_ considered for' export to . .-British'.' territory and Allied countries, arid then only if'suppprted by the Colonial Office or Foreign Office, as the case.may be, or.i'f there is good ground for tho, belief that the goods are destined for our own troops. ,We are glad that at last -something definite has been made public, for • the trade now knows exactly where things stand. It Is well-known that the wool bought by America as well as Italy, Hoi--land, and Sweden at the October London sales still remain's .unshipped, but the day .cannot. be ■ far;- distant:, when; woo) ; 'wiil-'bV shipped to neutral countries', and ■especially to the United States. It may look like giving undue preference, but as far as wo know the innermost feelings of .the-Board ofTrade, shipments to the' United States will havepreferenoe,''and "that rightly so. Th'eaa are' certain things in the. wool line which ha,ve hitherto been debarred from being sent out, -arid which are no use for the present khaki.boom. If such wools as Scotch black-face, Herdwicks, and other mountain 'breeds can be released a real stimulus'will be given-to a certain section of the English trade, besides helping . tho - American carpet industry a great, deal..,".The. embargo,is.very tan-'taiisingj'but-drastic measures had to be .taken on l 'account of Germany doing its Utmost to :buy; from this country through Italy, • Holland, and Sweden. Wo canriot 6ee how the embargo can be lifted just, yet,'particularly "on crossbreds, especially in view of. the fact that all the crossbred .wools insight will be wanted ■for the production of army fabrics for ;our own.vtrpops. ..The''situation is certainly one of peculiar 'interest as well •as importance,, and considering the difficulties .which are having to'he faced, it is cortainly wonderful, that-wool val-ues-are maintaining their present-posi-tion. - This is all due to the present' briskness of ;the home trade, and ever> seems to indicate a continuance of consumption: .;

j. Merinos Steafly. ; ' Business' show's a'maintenance of the ; soimd' features".-" noted', during recent weeks. -The hews from Melbourne is a little more inspiring and shows a slight recovery of values. compared with the sensible fall last week, but "sellers' favour" does not,mean a great deal ex-cept'that-it indicates that for the time being there" is no further_ giving way.. Under present conditions >it is hard to believe that prices' have made a quotable advance, and none is named in the cablegrams to hand. Still there is riofurthe'r decline, a proof that users still have confidence in buying the raw material. We have no definite information as ,to what 64'3 tops.still cost out of wool bought in Melbourne, but have more than a suspicion that, buying .is being 'done on a basis' of 2s. 3d., although Bradford importers assert that they will cost 2s. 4d. Possibly they will if made out of the best fleece wool, but even good topinakers have a way, of judiciously blending fleeces with pieces and bellies, which brings tops in at a shade less. This is a point which is well known .-in consuming, districts,'and we repeat that wo are satisfied that good tops will be costing about 2s. 3d. to 2s. Sid., and at that price a. man can go on selling among spinners in Bradford. Somehow importing topmaker's arc not following such a foolish policy this season as they have often done previously, and many firms are to-day unwilling sellers unless they know that they can buy reasonably in Australia. Some spinners are bidding as low as 2s. 2d. for February, March, and April, but- we cannot hear of such figures being accepted yet. Topmakers assert that they are willing to sell on a basis of 2s. 3!jd., but are not disposed to accept the low.prices bid.

No Undue Haste to Precipitate Lower , . ... ■ Prices.. 'What has struck" us" forcibly during ■the. past .month, has been the absence of any uiidue liasto among importors to influence prices downwards. There is plenty oiS.tallc about wool being cheaper when supplies' become large, • but although* there is'in sight sufficient r aw material to meot all -demands, 'the question of shipping is troubling many. There''is undoubtedly plenty of wool, but it is not at the spot where it is most wanted, and therefore. usors in Great Britain, America, and other neutral countries are all feeling tho want ■jf it. It cannot be long before many mills on the Continent will have'_ to close their doors, and oven United States factories are well within sight of all stocks being used up. No on.e likes the. prospect of having to la>;o such a shortage when they know that wools aro available in the princijal growing-countries; but'-England no doubt,'lias the first claim upon her colonies. 1 As already said there are sixns of the Government relinquishing its grip upon- overseas supplies, and wo fully anticipate that before long Australian markets will bo open to American buyers, but tho .present difficulties regarding:shipping will havo first to bo solved;, and United States shipping companies might do many a worse thing than dispatch ono or two cargo boats to bring homo supplies with all possible speed: Surely there are a few 1 beats miming between Australian ports i and San Francisco that could carry a good fw #,ous,tuid, balfiji afld ih&ty i§

no time:to be lost in making an attempt. Prices Very Firm. The week has' witnessefd no further giving way in prices for either merinos or crossbreds. The fact is, topmakers are not at all keen sellers, the majority 'having disposed of a good few thousand packs of tops, their chief confern now being to get the wool home and into work. The crossbred situation is -a most difficult, one. Hero we iind a famine, and it is going to tako English manufacturers all their time to keen their machines going with' the stocks of wool which are at present available. The fact is, business is only possible at full up last week.'s rates, and nobody appears keen to sell, because of the uncertainty connected with buying and shipping. Those who are fortunate in having wool on tho water feel that thoir position is a fairly strong one, but they could do with ten times the weight that is coming, and argue that it is very little use buying when they cannot 6hip. This applies more particularly to New Zealand selling centres, but we fully expect when the wool is catalogued, that there will be a little army of buyers all keen to operate. The fact is, everybody is anxjous about supplies, and that is one reason why crossbreds are holding their own. Some are prophesying a futher increase in prices for the few thousand bales that, will be available at the London December and January sales, their argument being that by that time all erossbeds will be worked up; arid therefore the few wools available will be wanted to cover urgent requirements. Khaki manufacturers are being pressed by the Government to accelerate deliveries of cloth, but how they are going to do it when nearly every mill is running day and night is a problem that will need some solving. Never in the history of the trade was the consumption of crossbreds so large in the United Kingdom, and prospects point to today's values being maintained . for a. considerable time to come. .