YORKSHIRE LETTER

Dominion, Volume 9, Issue 2712, 6 March 1916, Page 8

YORKSHIRE LETTER

PRICES COMPARED WITH 1872 (From Our Special Correspondent.) Bradford, January 6, 1916. It is a' mere commonplace to say that wool is dear and prices high. Anyone having to foot invoices knows that to be so with a vengeance, and yet if one wants to continue business hu must perforce keep on buying and selling, for in that oueiatioii a profit can- be earned notwithstanding that values are very much above normal. There are timorous souls in business who apparently feel (hat they ; are treading upon thin ice, and wiio are looking forward for a setback any time. No one will encourage the embarkation , upon a wild cat's scheme of speculation unless they have inside information that the war is going to finish in three months, and that the mills of Europe i'le going to be given the privilege of helping themselves «d lib to tne remaining wool supplies of the world. The writer fully expects a scramble for the raw rauterial •vaen that takes place, but in the ir centime the war is with us in all its tirrof and bloodshed, and the only tiling that looks like bringing down wool values is the refusal by the British Government to grant licenses for the export of wool •tad tops to safe destinations, a line of action which is very unlikely, although licenses may not be doled out so freely as they have been. Still, the fact remains that wool values are high, and our attention has been drawn to this by the publication of some very useful figures in the annual circular of Messrs. Jacomb, iion, and Co., of London. TIIE EVOLUTION OF WOOLGK OWING. It is really remarkable how little information is available regarding the greatest boom period ever known in the history of the wool trade, namely, 1872. At that time nobody seemed to have the least conception of adequately reporting upon a wool market, and the trade did not receive the attention it deserved. Old woolmen who are living and who remember that period say that things hove developed very materially sinco that distant date, Australian clips'- being better handled tlian they were then, besides there being to-day an infinite variety of qualities which did not obtain in 1872. ' In other words, "sheep-breeding and woolgrowing have become more specialised, su much so that whatever a man wants today in almost any quality lie can obtain in one market or another. One has only ix> attend a market like London to sec a big variety of wool, ranging all the way from 36's to 100's quality. Of course, lie must be there at ovory sale, and bo lamiliar with the brands, when he will lie able to find exactly what he wants at one time or another. When the history (if the trade conies to be written tbis will be one of the outstanding facts which will have to be chronicled, namely, the multiplication of qualities all due to the principles of eheop-hreeding now followed, and the careful systematic methods ei, ployed in classing of an up-to-date Australian clip. An old woolman who well remembers the piping times of 1872 reuarked only.a few days ago that at that time it wac nearly all combing, clothing, pieces, and locks, and the trade then seemed to be far less particular than buyers are to. day regarding the wool they want. Of course, it H.;it time sorting was very carefully done, and bigger weights of Buperior quality merinos were'grown than one sees to-day. , 1872 AND 1915 PRICES CONTRASTED. We give below the figures of Messrs. Jacomb, Son and Co., which, they 6tate, are extracted from their March Ist circular of 1872. They aro very interesting, and we have supplied values for tho samo description of raw material ruling towards the end of the last series of London sales. The prices compare as follow: New South Wales and Queensland.. 1872. 1915. s. d. s. d. s. d. s. d. Scoured 22 -2 6 2 6-2 7 Scourcd, extra 2 7-2 9J 2 9 -2 10 Scoured, ordinary & inferior 18-21 111 -2 1 Grease 10-1-61 '1 6-1 7 Victorian. Scoured 2 2-3 0 210 -3 0 Scoured, extra — 3 1-33 ■ Scoured, ordinary & inferior 19-20 110 -2 0 Grease 11-17 18-19 Grease, extra 1 BJ-1 91 1 8 -1 11J Tasmanian. Scoured 19-20 — Scoured, ordinary ft inferior 16-18 — Grease — 14-17 Grease, extra ;.. -- 18-1 10 South Australian. Scoured 2 0 -2 41 2 4 -2 7 Scoured, extra' — 2 7-29 Scoured, ordinary & inferior ~ 1 7-1 10 1 7-1 11 Grease '.... .10-1 51 1 5-1 6 Grease, extra 1-6-1 91 1 7-1 8 New Zealand. Sooured 2 2-2 101 .3 3-2 5 Scoured, extra — '2 6-2 8 Scoured, ordinary ft inferior 1 9-2 0 1 101-2 1 j .'Grease 101-1 i ' 1 3-1 6 Grease, extra 1 5 -1 71 1 6 -1 7 Cape. • Scoured 19-24 111 -2 1 Sooured, extra 2 5-2 8 2 3-2 6 Scoured, ordinary & , inferior 1 5-1 8 1 7-1 10 Grease 11-1 21 1 0-1 2 Create, extra 1 3 -1 51 1 31-1 4J IMPORTS CONTRASTED. It does not seem to have dawned upon the minds of any member of the London trade to give us particulars of tho imports of colonial wool into this country in the i year 1872, and at that time the wools from Neiy South Wales and Queensland were . not given separately. Here' again there has been a wonderful change, all to tlio benefit of Australia as well as the big manufacturing world. Ono lvondera bow the latter would have done if supplies had been no larger than they were in 1872. We give below particulars of the importation .of wool into this country from our colonies in 1872 and 1915, which' are as follow:— 1872. . 1915. New South Wales 128,847 516,839 Queensland * 251,936 Victoria 198,685 292,336 South Australia 70,522 , 86,020 Tasmania 14,623 21,323 Western Australia 5,448 73.845 New Zealand 104,584 554,701 Total Australasian .... 522,709 1,796,990 Cape 138,892 364,451 661,601 2,161,441 •Included in New South Wales total. Conditions in manufacturing centres romain very healthy, and everything indi- . cates a continuance of this state of affairs. It cannot be said that the market is really active, but inquiry is very good, and there is sufficient business passing to warrant one in saying that prices aro very firm. Most topmakers are quoting 3s. Bd. for a good 64's top, and business on the whole is satisfactory. Crossbreds also are firm, and any accession of new khaki business will push prices to a still higher level.