YORKSHIRE LETTER

Dominion, Volume 12, Issue 113, 6 February 1919, Page 8

YORKSHIRE LETTER

IiKOPENING OF LONDON" SALES. (l'Yoin Our Special Correspondent.) Bradford, November 28, 1918. Many things have happened since we Inst •evii'V.vd the wool textile situation. The ir.-l wmil I'liiincil meeting, together with .i« publication of Hie •particulars regard,ig stocks by the»Wmil Statistical Com.mtiee have lifted the veil which has ifinVioptd the whole industry in darkness. Let (ho render just think for a moment what the withholding of the statistics of the trade lias meant lo everyone engaged in the working up of the raw. material. Up to (he middle of 1918 the arrivals were published every week, while the numerous statistics published in conneciiou .villi the London sales, and also those coming from overseas, provided everyone with valuable data on which lo base a polk-y. Toward Iho end of 1!)IG. when the trade was informed that no mora figures had to be published on account, of it being necessary to keep such information from the enemy, it was at once apparent that there was'going to be a great loss. Twenty years ago the writer saw how invaluablo statistics were in connection with the industry, and ho has been waited upon many times by the statistical section of the .Department'to furnish data regarding every aspect of the wool textile industry, "if the wains, done, nothing else, it has taught everyone to look upon as invaluable to (lie trade, and I venture to say that in the future they will not be passed over so lightly as lliey have been in Iho past.

End of Government Control Foreshadowed.

There is no need to occupy much space in reviewing tiio Lrst meeting of the ■uuoi LuuiK'.l. Sir Arthur ' ijoUuiucn, ..•liiurnuiii, naturally reviewed tlie events whicn nave ciiuraeierisiu' the noul inula since (he out break 'ji war, and now that I ho armistice lias been, signed and Germany lius delivered into the hands of Great JJntuiii tier niosl valuable asset, i.e., her navy, everyone feels relieved. We can talk and ivrito more freely than w« have been able to do for a lone lime. Sir Arthur Goldfinch, made some very complimentary remarks, congratulating all sections of the trade on (lie prone and noble work they have done in providing our lighting forces and those of our Allies with udeiiuato wearing apparel, I here never being an army clothed so splendidly before in the . world's history. Mir Arthur Gohllineh then dealt wjdi the future, aud what he said regarding transference from war to peace conditions attracted, most attention. It might be said in passing that the Wool Council includes the best brains of the trade. A, very different move has bean made by I he officials to what took place fit the beginning of Stale control. The entire industry has been like a smouldering volcano, and everybody now unconsciously exclaims "Thank God" for tho end of Slate control has at last been foreshadowed. If the Parliament of Client Britain wants to sound the denthknoll id the wool textile industry then all it has to do is to continue State control, for it has slain initiative and enterprise, which, after all, are the lifeblood of any industry, a.nd, without which no trade can develop. A Welcome Announcement. The work of the Wool Council will be largely constructive. What a eigh of relief'many must have heaved when they learnt that there is a fair prospect of London sales .being reopened during 19111. It was known in Bradford that a united programme had been decided upon at a round lable conference of representative members of (ho trade, who were sent to Hie first meeting of the Wool Council. It was also known privately that Sir Arthur Goldfinch—a practical business inan—was j n favour of the reopening

of the .London sales, mid the speech ho made showed the Bradford delegftfes that he had not altered his viows. Sir Arthur Qoldfinch has known for a long time the "disabilities •under which the trade was labouring, and he is determined to put, off Slab control with all possible speed'. Of course, t'nevo must bo soino regulation of the industry, particularly iu view of the hungry state of neutral markets, but for the trade to be told by the chairman that larger imports might bo expected during the early wont lis of next year pleased overyime present. Of course, the shipping difllcullr cannot ho. nolveil in either one or six 'months, but from May onwards, we mav look forward to a monthly incoimT.g of something like 200,(1(10 bales, in which ease Ihe urgent n"eds of the trade will soon be supplied. Then followed the most remarkable statement of all in regard to tho Bales in Coleman Street. Sir Arthur Goldfinch said: 'The interests of spinners and manufacturers would not in any way then be endangered by returning to a largo extent to pre-war methods of wool distribution, bo lar as 1 can" judge, the interests ot tho Oovornnient in respect of tho Imperial purchase of Australian and New Zealand wools would he quite consistent with tho reopening of the Loudon auctions about tho middle of next year, and a removal of the greater part, if not ot the whole of the present control regulations. Estimatod Stocks of Wool, At the first meeting of the Wool Council in London, the Wool statistical Committee submitted particulars showing tho estimated stoclcs of wool, etc., in the United Kingdom. Somo very important data is contained in he official Statement. It has been known or mouths that, our wool stocks were gradually declining on account of colonial wools not coming to hand as expected The report states that early in the year wo were led to expect arrivals. averaging 13,000 tons per jnonth from Australasia, but these arrivals in July amounted to 9055 tons, August 2055 tons and September ' ISM ton* From information to land wo expect the arrivals in October and November to be about 16,500 tons, so that tho five mouths' deliveries from Australasia will be approximately 2,i,G00 tons less.than programme. The effect of fliis shortage of de lvery is evident when the estimated stocks on November 30 are compared with those of June 30, as is done in the following short table: — In Clean-scoured Terms (ODO's omitted). Estimated Stock Inc. (*) Stock at Nov. or June 30, 30,1918. Dee. (t) Colonial* foreign Lb. Lb. p.c. jferino 50,986 43,323 t24.0 Crossbred 91,703 35,179 tfil.G

US,GB9 78,502 ■ t47.2 British .'. ■ 45.50S 73.301 ' *Gl.l East Indian, «to 34,071 27,032 120.5

Totals 228,263 178,885 t21.6 In the above table it mny be note<l that the deficit in the .stock" of colonial and foreign crossbred wool amounts to 614 per cent, of the stock as at June 30 which tells adversely on the stock of colonial ami foreign crossbred combing wool. This stock on June 30 amounted to 43,935.00011)., clean, and we estimate that at the end of November it will have fallen to 4,093,0001b., clean, or one and a, half weeks' average reqiiiirements for consumption and exWhen drawing attention to the large diminution of the stock of crossbred combing wool, we desire at the same time to call attention to iho falling tendency of the stock of crossbred tops. On Juno 30 this stock amounted' to ■ 4.4.021,3001b., and on September 21 it is estimated at 33.5.13,10011). . , , Expected arrivals of foreign and colonial crossbred ' wool during December will be sufficient fully to meet anticipated consumption and export, and the. probability is that at the end of December the position.will bo slightly easier than at the end of November. _ The. report also included iho following tables showing the estimated stocks of merino, crossbred, and other wool:- | Wool, in Clean Scoured Terms (000's omitted). Cross- E. InMerino, bred, diau, etc. Tl. Lb. Lb. Lb. Lb. Stock at •: June 30 census .... 56,980 137,211 34,077 223,271 S St flt 30... 56,985 137,211 34,077 223,274 5 N0v. 81: 30... 43,323 108,183 27,082 178.855 S Dec It ...47,013 105,222 20,332 179.107 Merino Wool: Tn Clean-scoured Terms (OIJO's Omitted). Comb- Cloihini. ing, etc. Tl. 'lb. lb. lb. Ptnek at June 30 as pei-censu, 22.190 34,490 50,986 10,038 27,107 43,145 18,978 24,314 43,323' E^!nt St l.l 23,029 24,584 47,013' Crossbred Wool in Clean-scored Terms (000's Omitted). Colonial andforeign. British. Comb- Cloth- Comb- Cloth- • ing. ing, etc. ing. ing, etc. lb. lb. lb. lb. Stock at June 30 as per cens,,y 40,930 44,767 27,305 18,203 Estimated stock at. Sept. 30 .... 22,905 30,810 '13,387 30,914 Estimated stock at, ,■ Nov. 30 4,093 31.050 43,587 29,711 Estimated slock at Dec. 31 .... 4,959 32,902 39,987 27,514 Total at Dec. 31 ... 105,222 Tops. Stocks at .Tune 39. a? per census, ■ 12,972,3521b. merino; 44,021,2931b. crossbred; 7,077,4261b. East Indian mohair, etc.: total, 64,071.1411b. Estimated stock lit September 21-13,171,-8541b. merino; 39.543.0981b. crossbred; 7.232.400U). Eost Indian mohair, etc.: total, 59,947,3521b.