OUR YORKSHIRE LETTER

Dominion, Volume 8, Issue 2457, 10 May 1915, Page 8

OUR YORKSHIRE LETTER

HEALTHY CONDITIONS IN COLEMAN STREET (From Our Own Correspondent.) London, March 28, 1915. The sales are "bcinsr continued, under very satisfactory conditions, and as far as one can see there is no end to the purchasing power ol' tho various sections of tho trade. The attendance of buyers this week has again been very &ood, although naturally it is somewhat thinner than if there had been the usual crowd from the Continent. Franco has showed up much better than usual, and more faces from that country have been seen this scries than since the outbreak of tho war. There is no doubt whatever about Franco showing increasing interest in tlio movement of wool, and if Gorman soldiers coulcl be pushed out of PioubaixTourcoing it would soon make a difference to the entire wool world. The principal French buyer who has been fortunate enough to be outside the war area, has bought this series a little more actively than during the previous auctions; he would buy a good deal more, but for the fact that all his wool is having to be combed in Bradford, and he has a good many thousand bales awaiting- treatment. There is to-day machinery standing in France solely because of the absence .of tops, and Bradford is unable to cope with the demands which are being made upon her combing machinery. It is really a pity that such curcumstances should have arisen, and it is to be hoped that before long a supreme effort will be made to shift Germany entirely out ol' Belgium and France, and so relieve the present situation. The latest news from thore is to the effect thaj; mills are still intact, and a report has been going round this last fortnight that about two mills are working on behalf of the German authorities, but whother that is so or not, no one actually knows. The well-known firm of Masurel lias begun to buy again in Coleman Street, ■which shows a movement in tho right direction. Some Good Prices for Merinos. Real encouragemont can bo derived from the fact that average to good merinos are still making excellent prices, and it is no uncommon thing to see 15d. to 16d. paid for merino# iviiicii show good combing characteristics, and which will give a clean yield of about 52 to 53 per cent. No big quantity of these wools is being offered, but there is an abundance of parcels which axe fetching from 12d. to lid., and of course, Bradford topmakers Sre very industrious in absorbing these. Somebody said the other day that it is really amazing the capacity "of the Home trade to lift the wool which is being daily offered, and there is real brrisk competition, no section of the trade apparently being filled up. It seems to be absolutely useless talking about topluakers, spinners, and manufacturers., being choked with wool. Possibly some are, but still they keep on buying under the impression that it is policy so to do. When firmo are sold out and they are desirous of keeping their combs running, naturally it is to their interests to work everything at high pressure, and many no doubt are making preparations for the future. Still, it is amazing that the Home trade ran remain «a keen buyer of tho raw material, scries after series, witlr practically no competition of any moment arising from elsewhere. Tho big quantity of short stapled, seedy, faulty, carbonising wools which has gone so extensively to the Continent and been used in the production of mule-spun yarns is hardly realising the same figures by 5 per cent, as last serios, but anything that will comb at all and produce a decent top is being called for in a most encouraging way. We call to-day's prices very firm, for good average combing wools, neither competition nor values leaving anything to be desired. During the week good 6coureds have sold from 2s. 2d. to 2s. 5Jd., and this without the assistance of American competition.

Has Amorica Filled Her Requirements? This week a leading buyer from across the Atlantic said that he could, not stifle the impression that buyers from their side were about filled, and their inability to obtain licenses to ship was putting on the lid. Last week a cablegram arrived from Melbourne stating that the regular weekly sales had closed, America having been a very free buyer ever sinco the embargo was lifted. The announcement that they were operating on a basis of 2s. 6d. for 6d's tops surprised a good number, and yet that was tho price at which they were buying last serios, in fact often 2d. more. It was no uncommon thing to see them purchase a full Id. to ljdmoro than the Home trade could have paid, while this series the extreme prices seen, during February have not been forthcoming, the Home trade has bought these wools at values which 110 gTowor can grumble at. The fact is, the Home trade is still keen to assimilate anything about 2J inches long, and- America would still bo a fairly free buyer if last sales purchases could be all shipped. Even if licenses aro granted freely the question of shipping accommodation is a very difficult one. for slow sailing vessels, the presence of German torpedoes in the English Channel and for that matter in the Irish Sea, is certainly very dangerous, and these are running a great risk. The domestic clip in the States must now be engaging the serious attention of the Boston trade, and therefore many are prepared for less American competition on this sido, although it is the writer's firm conviction that if licenses are to bo obtained freely, considerable. American buying will be again seen.

Crossbreds Freely Absorbed. There is absolutely 110 slackening whatever m the demand for crossbreds, and only a few thousand bales look likely to be carried forward in nest series; that is if the wools in tho ships can be got atAll the warehouses present a very congested appearance, and in the yard at St. Katherine's dock some.fairly big piles of wool are being staged outside in order to relieve the show floors. Wherevor crossbreds are catalogued there is the Biline eagerness to buy, ami a very steady ?5l n ! al 'k e ' is being experienced. When Is. 7d. is paid for greasy wool it clearly proves tho strength of their position, and certainly tho New Zealand clip never came to a more appreciative maikct than fit present. To give readers some idea of ruling prices, anything from ■16 s to 50's will sell to-day at Is. sd. to Is. 6d.; 50's to 56's are easily making similar figures, and even deep dO's wools are selling at 16d. to 17d., prices which eave no room for complaint. Up to 12s. 2Jd. is always forthcoming fer decent scoured crossbreds, and so far they have been rather scarce. Of course, these wools are being largely taken by firms eng:iged in khaki manufacture, south of Scotland manufacturers supporting them ver y strongly. Bradford would readily buy the wools, but they are usually outbid by outside woollen firms, and if' supplies could bo augmented it would be an advantage. When we come to sliped Cto=sbreds, there is also a good tale to tell. During the week record values have been paid for both lialfbred and three-quarter-bred lambs. This is the first time that new season pulled wools havo appeared in the catalogues, and when good halfbred lamb of about itwo inches in length sell at 2s. lid., it shows clcaily the strength of the situation. Even fine crossbred lambs are selling at 24d. to 25d., prices which clearly indicate an exceedingly stiff market. Conditions in Bradford. Turning to consuming centres, tho situation does not show a great doal ol change. Tho market in Bradford remains finn lor all descriptions of tops, and for tho moment it looks as if prices had touched 1 lie top point. The burden or the cry of all topmakers is Ithat they cannot satisfy all their customers, and instead of being ablo to sell, they cannot meet what obligation they are under at present. The most annoying featured is thsut in face of the present avalanche of business, commision wool comber are uuablo to satisfy •their customer:,. Tremendous weights of wool are confronting them and awaiting combing, and yet one said this week thalt ho considers that the combs of Bradford (entirely on account of being understaffed) are not turning out a. third of what they are capable of producing. This certainly is very annoying, and shows coinplotely where things stand from a consumptive standpoint. The position of merino topmakers has' never beon so strong ,i 5 is tho case to-day, it being a, fact that, whatever

consumers for it. In regard to crossbreds, there is the same tale to tell. Possibly here and there a man can pick up anything from 46' to sG's at current values, but not in any big weights. Forties mepared are ciuotcd at 2s. lAd., 46 s earned, 2-9. 3d.; f>o's, 2s. 5(1.; and 56s', 2s. 5Jd. AH miichinerv is fully occupied where hands arc available, ami tho outlook from a w>numptive standpoint could not be better. The whole situation is remarkably strong, and everything seems to indicate a contiruance of the present unparalleled business, with prices all steady and firm.