YORKSHIRE LETTER

Dominion, Volume 10, Issue 3125, 2 July 1917, Page 8

YORKSHIRE LETTER

ffILL LONDON SALES DIE OUT? • (Prohj"!OiW. Special Correspondents.) ' „«, • Bradford, April 17. I'b.a announcement that tho nest series or London salos will • oommenco on May 1 with.-an. offering o£ about 30.000 bales flriwra, attontion to a, question of some llttlo interest to wool-growere in tho 0010-11109, 11109, !• Di coureo, theso auctions 'cannot bo followed, eo closely, and \vith each absorb■ine interest now that thoir wool ha 9 been commandeered at Used prices, though no doubt somo striking contrasts will bo rejoalod .Tjotwcon tho price at which, wools iha-vo boon commaudeorod, and tho figures thcyihavQ realised loro to users,'by those iwhoi-will talto tho trouble- to investigate. ■ Tho point in question now is that as increasing quantities ol wool corao directly under Government control, this wool hav- . ing been bought on a fixed basis of price and sold to users as tho authorities themselves, decide means that tho woiglrt, of ■wool S/Tailablo for open competition must inevitably becomo greatly decreased. ,'Buyers ah Liverpool and at tho low wool pales t in London, have recently been witnesses of jv now method of disposal of Uio ■ttools goffered, for thoso who went to those CMfifeSt. wero inquired: to signify whether 'they Tjroujd. like io acquire certain lots, ,o,nd iyit woro found that more tlian ono porson , '{riw wishful to seouro the samo lot, tho -■wools wcro apportioned out as woll aij could he , The decwisinp; quantity of wool available for actual salo by auction in London eeeriis to contradict tho semi-official proiiniea'mado f,t» tho end of 1916 that tho .London auctions would bo .continued, and that compared with, tho quantity of crossbred* ■ an inorcasing weight of merinos would'"w sold: Sinco then, ' however, .thero; Jtave been considerable developments,, and though it is perhaps too much i to say that tho London auctions will dio . out' entirely beforo tho war finishes, it is quito'ovident that those interested in free wools "will have tho scopo of their choico . greatly restricted. To'readors of this column, tho ordinary courso of market values for wool no doubt has'lost a good deal of interest, but yet .things are happening in which every colonial pastoralist has- more than ordinary concern. Grave,fears arc atill being eipreesca in tins tvool circles ol Yorkshire and London that tho present order'of things will last for'some time after-the war finishes, this notwithstanding, tho publio statement of tho Financial Secretary to the War Office that the oresent. Stato control is purely and simply a war measure. Everybody hopes that this is so. but wo would.lilto to warn.readers not"to expect it to bo removed, for at least "six. months after peaco is declared. It is •■ generally stated that Australasian pastoralists aro well satisfied with, the deal that they havo made with tho Government;, and the writer sincerely hopep that it is so. Ho is strongly inclined to think, however, that .when growers seo what wools" actually realised' when offered by public ealo in London, some at least will sin?'a different tune. It is well-known in London wool circles that «he agents for tho<Mt. Buto clip, which, of course, is of Wostcrn Tictoria origin, and which sold at •' "3fl. 6d. per lb. for tho top lino of grease combing, have been . in " correspondence with . the officials of 'Hie wool section of the War Office pointing out that tho grower mil loso £l5 j p'er bnlo on tho prico paid to the owners.. The writer is divulging no secret -whonlio states that tho'Goonoo Goonoo ' (N.S.W.) olip, which sold last scries at 3s. 7id. for tho top lino of greaso combing, was' valued to tlie growers at 2s.' 3irt., and if 4Jdr is reckoned to cover the cost of freight, insurance, war risk and sale expenses, ■ the reader can form some idea

of-the. profit being realised by the Department. Government Control and Free Wool and Tops. A matter which haß attracted no little attention iu the Bradford top market during the past few weeks has been tho announced intention of tho Government to allow .spinners to buy their surplus mer-ino-tops. Tho tims promißcd for delivery was May, and as when this otlcr was first made thero was aomo inquiry iu tho market for botany tops for spot delivery, and spinners wero also showing interest on forward accouut, it might havo bccn\ supposed that the Bpinncrs would try to' 1111 out their requirements by making application for the tops which the Government were oncring. This was moro likely to be the • ease in view of the fact that the. said, tops were being ottered on tho basis-of sb. Bd. for average sorts, whilo in the opeti market, the price for the same quality of tops was ranging round 6a. One circumstance, however, seemed to -prevent Bpinncrs from going in largely for these possible purchases, this being that delivery was only promised provisionally on the tops being available when ilny came. The impression has thereforo seemed to prevail that little progresa has been made in tho sale of theso tops, but later events have proved that spinners havo been making applications amounting to a considerable total. Instead of being able to sccuro all they applied for, only a very small proportion has been allocated, anil rrom this ono important inference mav bo drawn, whicli is that, in spite of ail tuat has been done iu tho way of Govern/meat, control, prices in tho open market arc not likely to depreciate. If all tho [ops applied for had been released on the basis at which they were being otfercd, namely. ss. 6d. for average 64's, it, would havo been certain that we should havo seen something like a slump from tho 72d. level current in the oocn market.

Slg Covernniont Orders Placed, It transpired last week-end that, the War Uluce is again in the market with larro contracts, all for Army and Navy purPoses. Fifteen million yards has been mentioned, and we are ablo to say that the statement has reliablo authority behind it. Throughout the West Biding, as well as tho West of England, Scotland and Ireland, manufacturers* associations havo been tormod, and the Army Contracts Department is not now dealing with each individual firm, but is handing to theso respective associations, say, one million yards each, tho said association being responsible fqr distributing this order among their members. This certainly has been a move in tho right direction, enabling one to obtain standard prices for praotically every operation, and no firm can therefore obtain an advantage over a competitor. 3Mj.it really is tho position to-day. bo many null costings have been furnished the Department, that they now know to a fraction what it is going to cost to produco any cla?3 of artlcJo rcquh . cd b mill ary, and so long as manufacturers combine, the work can bo dono moro c™ seditiously, and also more satisfactorily !?,,?ilr fi < " ICerm t fl - " can .bo said with ail truthfulness that thero is moro Government work in tho hands of spinners and manufacturers than at env timo sinco tho outbreak of war. ard tK firms who hitherto havo been a most ev cusivcly engaged upon civilian trade,aro either Kol n c to havo to como in voluntarily, and tako a reasonablo proportion or tho orders, or else their works will bo commandeered entirely by tho War Office. It hardly looks fair for somo nrms to run. say, 75 per cent, of thoir Plant upon a commission basis- for tho jjovornmenj, while others aro doing, say, f> per cent, and even less, and it is high timo that a spirit of fairness and consideration was manifesto* by ail alike.

Market Conditions. Things aro rather on tho q-jet side, but very firm, with not tho slightest glv,"Jg -way in valuoE. Spinners r.o doubt would be larger buyers, but that many havo made applications for Government tops, and are therefore, -waiting patiently in the hopo of receivim? a portion neit month oe promised. The orders have been taken conditionally, the Department giving no out-and-out pledge, but say they will do thtir best to give delivery if possible. : It is generally understood that big inquiries havo been mado for tops, and it is fairly definitely known that the quantities to ho allowedi will be far ielow the amount applied for. It will, be Juno and July beforo the Department can meet the demand. In the meantime there is a steady business in what free tops arc available, but tho market is presenting a sold-out appearance in regard to crossbreds. There is a fair inquiry for EO's and 56's, and vory few indeed aro to be met with. Merinos naturally claim most attention, and even here there are by no means big weights available. Prices are naturally very firm, and 6s. is still demanded for average 64's, with 6s. Id. now, a fairly well-established price for a decent warp top, „6ome even wanting more.