Amerloan Competition Missing.

Dominion, Volume 8, Issue 2489, 16 June 1915, Page 4

Amerloan Competition Missing.

Anyone sitting in Coleman StreetWool fixohange tins week cannot bui liavo noticed how American competition has been missed, and this is to bo regretted. That is needed to-day just to give a little "spice" to tlio whole proceedings, but evidently tlieio aro very Jew orders on tlie market, and after what one has witnessed in the colonies during recoVit months, it is not to be wondered at. It would be most interesting if one could gather with any degree of accuracy the amount ot wool bought by America lu Australasia, South Africa, and London. Last series one American buyei pus it down at 200,000 bales, and We should say that it is fully this. The Australian mails which have come to hand this last two or three weeks have all emphasised the value of American competition, it being explicitly stated time and again that tlio high prices paid in Geelong, Melbourne, and Sydney have all been given by United States representatives. In other words, they made the market during the mouths of January and February in particular, and to-day there are signs that the majority are filled. This is 110 doubt due to a very poor prospect of obtaining any further orders for khaki for either the British War Office or the Allies, and it can ho taken for granted that America is, going to have ,lo depend more upou hoi- own resources in the near future to keep running her mills. We certainly would like to see greater activity throughout the whole of the States, but evidently the effects of the Euroiwan war aro being felt iiross the Atlantic fully as much as here, in Knglawl,- In fact, tlio mills of Great Britain never boomed as much as they are doing to-day. So far America has done 110 groat amount of buying, and there is plenty of room for, her to lift 20,000 to 25,000 bales, but.

I so far no indication of buying disposition has been in evidenco wliatovor. The Outlook. Messrs. 11. Dawson and Co., writing with reference to the outlook, say:— ''There is at present a lull in the activities of tho market so far as new business is concerncd, and it is not unwelcomo. Tho congestion of stocks at combing mills, railways, and docks is still most acutely felt, and is, of course, attended with its natural sequenco of a financial congestion. Tho present difficulties of transit and delivery of wool havo becomo almost intolerable, and involve'not only additional expense, but a most serious lock-up of capital. Consequently tho sales do not open with the same buoyant confidence aaid strength of demand. Purchases from previous sales and imports (the bills of which have long sinco matured) are yet undelivered, and would-be buyers aro neither able nor disposed to continue their operations. The absencc for some weeks of new orders for the Army from tho various Governments also tends to quieten tho market, and consequently a nervous feeling prevails. "Under these conditions the consumer and dealer alike find it difficult to determine their policy with regard to the supplies now available, and the possible effects of an early peace on the one hand and a winter campaign on the other are being seriously discussed. In the former case the wool market should probably find a> keen demand from the Continental centres that would absorb the merinos with ease, while in crossbreds many of the neutrals would be greatly relieved if they were able again to secure crossbred wools, tho need of which .has been severely felt since the prohibition of exports. In the event of prolonged hostilities the home trade should, of course, still be the recipient of enlarged orders from the Allies, and those might even be on a larger scale than before, owing to the enormous number of men now on active service. "The general outlook for the home market for the year is therefore not such as to cause undue pessimism whatever direction events may take. Meanwhile we have entered into a Doriod of indecision and uncertainty which may affect the present series, especially as regards merino sorts which are in plentiful supply. In crossbreds the year's production has'been expedited to the consuming centres at an unprecedented rate,_ and the end of the New Zealand supplies is already in sight. "The news from America is not very cheerful, but there has recently been improvement in United States commercial and financial circles which may soon extend to the woollen industry, especially if a reasonable basis for values is established for tho now domestic clip."