YORKSHIRE LETTER

Dominion, Volume 10, Issue 2974, 11 January 1917, Page 7

YORKSHIRE LETTER

SENSATIONAL WOOL VALUES BUSINESS SUSPENDED (Prom Our Special Correspondent.) Bradford, November 16. The finish in Colcmau Street was sensational, ami if we write for u month that word. alouo sums up the close of the seventh series. The whole auctions showed a. steady advance from first to lnit, but no one anticipated the rise which was registered at llie close. JSo ■• doubt totally unforeseen factors contributed to tks end, chief of which was the placing of large military orders, and also tho steadily advancing markets, in Australia. Towards tho end thoro was quite a scramble for tho raw material, the majority of buyers.seeming to operato without any limit whatever. Tho prices realised for lots which wero withdrawn during tho early part of tho series and which wore catalogued agaiu towards the close wero really remarkable. Anything up to 4d. per lb. moro was paid, a proof that users wero determined to liavo as much wool as possible. The news of tbo stoppage of tUo salo in Christchurch no doubt was a factor which had to bo reckoned with at tho iiuisli, and it is'remarkable that up to tlio time of writing there is no news of what the Government intends to <lo with tho new clip. But even the offering of the iiew wools in Now Zealand could not possibly havo unfavourably influenced what wool was available for salo in Coleman Street, because everyono is wanting wool to-day, •wliilo wool offered in New Zealand will not be here before next February. Theso wero factors which undoubtedly led to a very active finish, with wools making phenomenal prices. Great Advances. We show the closing rates compared with tho previous series, and the advances aro phenomenal:— Australasian AVools. Greasy uiorino, superior, 3d. higher; greasy uicriuo, averago to goo<l, 3d. higher; greasy merino, poor condition, 2d. higher; greasy merino,' inferior locks ami pieces, l<l. to lid. higher; scoured merino, superior, id. to 4}d. higher; scoured merino, average to good, -W. to ijil. higher; scoured merino, inferior, 2{d. to 3d. higher; scoured merino, faulty locks and pieces, 2d. higher; greasy morino, lambs, superior, Id.'to ljd. higher; greasy merino, lambs, medium, Id. to lid. higher; greasy merino, lambs, inferior, id. to Id. higher; greasy crossbred, lino superior, 2tl. to 2Jd. higher; greasy crossbred,- fine ordinary, 2d. to 2W; higher; grcusy crossbred, medium superior, 2<l. higher; greasy crossbred, medium ordinary, !M. higher; greasy crossbred, coarso superior, 2d. higher; greasy crossbred, coarso ordinary, SM. higher; greasy crossbred, lambs, Id. higher; scoured crossbred, nne, 3id. higher; .scoured crossbred, medium, 2d. to 2kl. higher; scoured crossbred, conrse, 2d. to 2)d. higher; slipo crossbred, lino lambs, 2|d. to 3d. higher; elipo crossbred, medium, 2!d. to 3d. higher; slipe crossbred, coarse, "2S<l. to 3d. higher; slipc crossbred, faulty classes,' 2d. higher. South African AVool. , Snow white, super.Westerns, 3d. higher; snow white, super, 3d. higher; enow white, medium, 3d. to 3-Jd. higher; snow white, interior, 3d. higher; greasy combing, light, 2d. higher; greasy combing, heavy, Id. to lid. higher; greasy clothing, light, Ud. higher; greasy clothing, faulty, Id. higher. Supplies and Deliveries. When we turn to the fjgures published by Messrs. vSehwartze, Buchanan and Co., wo find in their table showing the supplies and deliveries food lor thought What wo think claims most attention, isthe enormous takings of the United States, aud when one remembers that America has done no buying in London this year, to find that her purchases of colonial wool amount to no fewer than 69,500. bales is indeed remarkable. This figure eclipses all previous records, ijml shows tho extent of her purchases hist season in Australia and at tho Cape. There has been n marked falling oil' in the takings of the Home trade, while the Continent has improved her position. The way' the last colonial clips have gone into users' hands is really remarkable, but the empty London warehouses 6how conclusively the tremendous absorption of tho trade, there being only about 8000 bales held over from tho last series. It semis there was a total available for , the seventh series of 1,09,000 bales. Of these 101,000 bales were sold, 95,00(1 bales being taken by the Homo trade, COOO bales by the Continent, leaving SOOO bales to be carried forward to tho next series. Adding transit wools and direct imports, tho total deliveries to the trade compare as follow:— Seventh Total ■ Series. Season. 1916. 1915. Bales. Bales. Homo cousumptiou .. 1,25(5,000 1,923,000 Continental „ '..' 251,000 212,000 American „ .. 005,000 551,000 Totals ....;.: 2,235,000 2,65G,000 ■ Bradford Market. Turning to manufacturing centres, the position is unparalleled, there beiug no timo' during tho Franco-Prussian War that compares with to-day. Important developments have taken place this week. The announcement is- made that the opening sale of the season in New Zealand, which ought to havo been held at' Christckureh on the 9th instant, has been. stopped, and the trade has construed this to mean that tho whole of tho clip is going to be commandeered by tho Imperial Government. This will bo a hard hit against tho United States, but so long as the , wool is wanted for military needs even- American importers mil not grumble. The effect has been to bring business very largely to a standstill so far as top salos aro concerned, importing topmakers refusing to commit themselves further until tlioy'see. whero things stand. Tho past fortnight has seen a hugo business done, even <16's carded tops, which are very largely used in the production of 2-24's khaki yarns, having risen 2d. to 2Jd. per lb. The market during the past week has been excited. There are further offers of big business on forward account, topmakers refuse to sell, and the whole market presents a sold-out; appearance-. Somo are quoting 64's at ss. for March' and later months, 58's being worth 4s. to 15.,1 d. in oil, sG's aro standing at 3s. (id., sO''s are quoted nt 3s. sjd. to 3s. Gd., 48's 2d. less, IC's carded 2s. 5.U1. to 2e. 5d., U's carded Id. less, and 40'e prepared 2s. 4Jd. Many topmakers seem staggered with' the great chaiigo which has been seen during tho pnst fortnight. Tho Government's intention is now kuown. Tho Army Contracts Department through its Bradford office- has issued instructions to spinners . to buy tops suitable for producing the ordinary khaki sorge, giving out orders to spinners; who are to coinimiuicate What the tops-have cost, but have no detailed instructions as to what to charge for the yarns, nor where to deliver same Tho whole of the military business seems at the moment to bo in a state of transition, and experiments are being tried with English wools to prove their suitability for producing all classes of military yarns ami fabrics. Botany spinners have dono a big business, and sold heavily right up to ncxt •'"ly- To-day 2-18's out of n G4'e top are quoted at Gs. 2u\, 2-32's are standing at ss. lid., and 2-24's at; ss. !)d. Evidently big advances aro taking place.