YORKSHIRE LETTER

Dominion, Volume 12, Issue 159, 31 March 1919, Page 10

YORKSHIRE LETTER

RESUMPTION OF LONDON AUCTIONS ANNOUNCED.

(From Our Special Corrosponilent.)

Bradford, January 30, 1919. Another meeting of tho Wool Council has beon held, and been productive of real enlightenment regarding the future policy of the Government. The splendid announcement of Sir Arthur Goldfinch shows'clearly enough that tho days of State control are numbered, and before long we may expect to see the entire machine dismantled. Tho sooner it comes the better, and everything indicates that the process is not going to bo protracted. In past articles tho writer has loreshadowed important concessions to tho trade, and soma of these are already on their way towards being realised. It is not generally known, but there is «i spurt in the topmaking branch of the industry. On the very best authority the writer understands that every effort is to be made by the Department to get wool through tho combs in order to give spinners a 100 per cent, ration. last week-end spinners 1 received _ a supplementary allocation which brings up the quantity supplied to 80 per cent, of their consumption 'in 191 G. Manufacturers liavo already received certificates enabling them to take in 90 per cent, of the'ir 191 C consumption, and as tho present rationing period does not finish before March SI, it is safe to assume that any spinner or manufacturer wanting a further allocation will be able to obtain it probablv for tho asking. Sir Arthur Goldfinch is very anxious for all aliko to speed up, and therefore one may expect to be in a position shortly to say that the whole trade has got back to full consumption. Many mills are still un-der-staffed, although pivotal - men are coming tack nicely. Still there are a good many vacancies, and tho discharging of female labour from munition works should* mean a full equipment in most spinning establishments. Commission combers seem to bo worse oil for wool than operatives, but great Mrorts are to bo made at that end of tho trade, because it is understood that the Department will put out wool to comb no longer than April 30, leaving the topmakers the privilege and responsibility of satisfying spinners after the date named'. This will be a. very big move towards freedom of action, and will certainly load to less friction than has been seen in.the past. ,

Wool Imports. . The trade will always be under an obligation to Sir Arthur Goldfinch (Director of Kaw Materials) for his able and businesslike statements. At the of •toe Wool Council he foreshadowed important changes. He dealt exhaustively with the question of wool imports, telling' the trade that he estimated that 40,000 tons of wool per month would be available for the first six- months of this year, stating thabtlio wool so brought home would be sufficient to satisfy the requirements of France, Belgium, and Italy, as well as the British Empire. Ihis tonnage, reckoning 6$ bales to the tou, means all roun(i' a monthly arrival of. iay, 200,000 bales, quite suioient to meet all prospective requirements. This will be a great relief to congestion in tlio colonies and tho wools will be welcome at this end.

London Sales to Open in April. Tho Director of Raw Materials has something enheartening to state regardin" the forthcoming London sales. Although no dato was stated, it is generally understood that April 1 or 2 will boo the doofs of Coleman Street saleroom open once more. "It is not oxpected that more than SO.ftOO bales can be handled in the April auctions, but largot > quantities will probably be dealt with in the following months." Thero appears to be no hope of handling efficiently anything like tlio quantity of wool which will be required month by month, if France, Belgium. and Italy oro to' draw largely Upon London for their , supplies. However, 80,000 bales will mark a very enoouraging opening, and wo expect to see monthly lates holtf to the end of the year, with perhaps tho exception of August. The next question dealt with was that of tho price of tho raw, material, and Sir Arthur said that" "so long /as may be necessary to issue wool outside the auctions at fixed prices. U is proposed to .<lo so." Throughout April prices will bo tho same as those at which wool is now issued, and up to the end of April, perhaps, a. few months longer, users are-to have .'the privilege of three alternative sources of supply, which Sir Arthur outlined as follow (11 Purchases at Government auctions. (2) Purchases at tho Government fixed isstio prices. (3) Purchases of free wool from all sources of supply except Australia and Neflr Zealand, at fixed prices by wirestri'ctea' bargaining. The abovo methods of distribution have been decided upon in order to safeguard the trade against excessive competition at the auctions, but tho strongest factor of all will- he the issuing of wool at fixed prices. The only thing tho trade wants to know is how soon the Department will lowor their issue' prices for tlio raw material, or if wool is going to bo issued at to-day's prices. The 'trade is not too sanguine about this, anil one foresees just a little difficulty. For instance, it is expected that tho Department will/after March 31, perhaps lower their issue prices for tops, and therefore some spinners candidly state that they are going to take -in as few tops as possible, and wait for lower issue prices. All users will go from hand'to month till the end of April if they see the least possibility of obtaining wool at less money. The idea of tlio Department is to regulate supplies to the trade and .also to stabilise prices, two very worthy objects, and there is no reason why this should not be realised., Those in close touch with the .manufacturing end of the industry know how' quiet things have be. come since the signing! of the armistice. There does not seem to bo the least leenness on the pari: of manufacturers- to produce yarns or wholesale fabric buyers io place new orders for piece goods, the present transition period being altogether quieter than was oxpected. Trade, it seems, oannot- be expected to boom until moro 'freedom is allowed in export to Continental neutral countries and to our i Allies, and why there should bo the ! present restrictions in the export of any--1 thing to France and Italy is boyond t.ho | comprehension of the members of tho I trade.

Next British Clip to be Free.

Sir. Arthur Goldfinch confirmed what the writer has stated during previous weeks, announcing that tho Government had definitely decided not to purchase tho next British clip. They could not do otherwise. There seems at the moment to bo no reason why British growers nhould not receive a price fully equal to what tlioy would Jiavc done if the British .Government had purchased the clip, ,m<l 'when all is said and done, whether they do this or not, it is the soundest business principle that wool should bo offered freely hy public auction. East Indian wool is also to be free. At future Liverpool sales it is expected that prices will not ho controlled, and that buyers will be able to. purchase anything and everything they desire. After Ap'il .10 the Government is to stop operations in regard to the issuing of topmaking and cabonising wools, and users will then have a free hand in purchasing and selling what tlicy like. Export of wool and its products is to 1)0 nl: once re-established. There is room for a radical altcrtion in the export of yarns to Era,nee, and lite Wool Council urge that licenses be. granted moro freely for tho export of fully manufactured goods.