YORKSHIRE LETTER

Dominion, Volume 1, Issue 160, 1 April 1919, Page 8

YORKSHIRE LETTER

ABANDONMENT OF STATE CONTROL STEADILY PROCEEDING (From Our Special Correspondent.) Bradtord, li, l'Jl'J. Increasing interest, is shown in the course of wool textiles, ;ind as wee { l . s pass satisfaction increases that tho abo ition of Stato control proceeds, lho houtii African fanners refusing to accept ue Government olfer for their clip w«s. rather a nasty knock, and both growers and the Government are to be comphmenteu on the independent stand they took. " ha ® turned out to be for tho good ol all threo parties concerned, namely, growers, bujers, and: tho Government. buccesstiil business cannot 1« built up under restricted condition.? such as are imposed under extensive State control. lbe textile trades of both Great Britain ami America liavo been brought to tiie present stuto of Dorfection by individual cilorr. while State control helps to destroy all enterprise and initiative. This has been very much'empbari-scd during the pasc two rears in Great Britain, and to-day trade is stagnant. largely because of tlio paralysing conditions under which business lias to be done, and because the trade, especially importers and- merchants, cannot do anything at all. Of course, they can now buy freely m South Africa, but not every firm " necustomed to handling these wools, while tho freisht difficulty si ill- blocks ibe way.. , Gab cgrams received in Bradford tinring the week state that freight is hWy to be available mly in W/irch. at the_begmnin?/>f ivhicli month the Molvw Fedoration'will cense to exifit Ah least *rervhmh will then ho tot liberty to apply for freight, and vim Rnroping companies DPTfonnllv. This diilieulty ill cbtnininj froigbt for mohuir svnd tlio'.prevent! jjff of merchants shapping, lny oai'sed n good deal cf heartburning, and well it might.

Wool to bo Auctioned. : A meeting of tho British Wool Federation took placo in Bradford last wwtercl. w'ten Mr. 11. Norman'Bae, M.P., addressed a large gathering of the members of tho trade. In a very pointed ppcpcli 'lie "reviewed (.lie work dono I>y tiio trade representatives on tho Wool. Council, audi after a very frank diijcusfuon everybody felt that excellent service had been rendered. Thero are still two or throe items which need settling with tho officials of the War Office, but a spirit of reasonableness to obtflin. which makes it reasonable ■to expect that lief/iro the salre begin in London -in April, tlieA* will be straightened out. The trade regards with approval the'act that colonial wools a.rp to be auctioned,. and that froft eoinnotitiion if to bo Ihe order of the day. Tin's will bo a -srodßend tp evervoiip. It might appear that nobody would be aide to buy <wwp f under a permit, but wo aro now told that everybody will be able to buy without let or ■hindrance, tho same opportunity being given to <vur Allies, a 9 to Homo merchants and users. It is expeoted that they will - open on Tuesday, April 8, and that 80,030 balos will b8 available; 140,000 bales was alteo mentioned as 'tho quantity which will be available for another auction in May, after which monthly auctions airo cxpected to follow. Of course, the first series will he an exrxperiment. Some think it will bo a fiasco, but will depend entirely upon what tho Department does. Tho great point is to know when the trade can oxpect a declaration by tho Department regarding f heir issue prices. Wo h»vo told by Sir' Arthur '"jeldfinch that the reserve price of every lot will be fixed somewhat lower than to-day's issue prices at 'Manor How, Bradford. But how nnich lower? Will tho Wool Section of (he War Office limit their values in April, and then fix a lower limit, say, at the .May auctions? If that is done the April sales will be a fiasco. . The trade \is concerned about the future 'course cf wool values, ihe present mark'«l ahsence of. new business being largely nccountcd for by the uncertainty which obtains in regard to the future of prices. The trade feels that the Department ought to slate candidly tho price per . clean, scoured yound at wbich wool is to lie catalogued, and definitely inform buyers that the range of values thus fixed will continue, say, until July' 1. Prices then might be revised in a downward direction; but as Sir Arthur Goldfinch seal the April sales will ho largey an experiment, and shond guide the Department's future line of action. Everybody will gladly buy if they feel they nro doing the right thing, but above all nobody wants lo be "landed" with dearly-bought wool, that i.> wool which, if tlioy had waited, could linvo been bought in May at a still lower price. The trade will , anxiously await the declared policy of tho Department in this important particular between now and tho April sales, and the sooner the policy is mado known tho better it will be for the entire industry. The wbolo of the trade of the country is being /held up until it is known more clearly what aro going lo bo the' ruling prices for wool and tops. Tops and Topmakers.

At the last Wool CounjiL inciting Sir Arthur Goldfinch laid down threo principles which will operate for somo months, it being clearly stated that in addition to freo sales in London the Department will continue to comb wool up to April 30, and will sell nutil their stocks are exhausted. The Wool Distribution Office will also continue their work-at Manor '.Row, Bradford. . This is all dono for the express purpose of curbing speculation, but there will be no speculation'unless a very different temper obtains than is seen to-day. It looks to the writer as if.topmakors will go to London with a knowledge that today's Government top values will operate for some time to coine, and there will be a margin between them and the Government issue price of wool in order to enable topmakers to purchase and turn sumo to profitable account. In tho opinion of many spinners tho Government lops have been far from satisfactory, and these will go to Coleman Street seeking some good wool to sort and comb on their own account. Nobody knows .what the margin is going to lie, but the r.iembors of the trade .will no doubt do their utmost to see that it is, a reasonable one. As already intimated, the feet of the Department being prepared to sell tops and even wool- privately in Manor ]!ow will act as a preventative against speculation, but it strikes the writer that leasonable facilities will have to be granted to Continental neutral countries, if the big slocks of Gov-i.eminent-owned wool which will coino to hand this year are to be got. rid of satriofactorfly.

Rationing to End. Evidence accumulate* that tho days of rationing aro numbered, and the sooner it ends the better. An extra allocation >f tops Ims been sent out by tho Itationing Department during (lie past week, 'm«l in Bomo eases spinners have returned the scrap of paper. A ration is liol; a I contract, and this <is a _ noteworthy feature of tho present, situation. A visit to tho Top Department shows conclusively that they liavo no 50-s(i's tops to distribute for tlio civil trade, though those qualities aro very much wanted. Thoro are spinners who would like to produco yarns which they used to do up to t;vo years ago, and no doubt the civil trarto is suffering because of this fact. All tho Fame, the rationing of yams will finish' on March 111; in fact it is being largely ignored to-day. What use is rationing when spinners are in a position to deliver yarns to Manufacturers who aro wanting them, and why interfere with Urn latter taking in wliat they want when yarns are going begging for customers? Tlvi general impression prevails that'tho rationing of yarns has not been anything like en effectively done as the rationing of tops. Then, 100, in order to encourage tho export trade in yarns, spinners must have a. free hand. During tlio past week export houses have received ' a rather sharp circular letler from tho Yam Department, soino of Uic former having apparently been playing n game of bluff. The export trade in yarns with 'Franco has been Far from satisfactory,

and caused endless trouble. Special facilities have been afforded for tho execution of French yarn orders, and now export merchants having these orders liavo quietly put them on one side in tiio hope of being able io buy at less money. However, spinners .ire wanting work, and the culprits have been informed that unless they place the orders which have been sanctioned by the French Govemmcn the merchants here will have to forgo them. ' The whole situation Rives rise t.i some concern, because business is quiet. Vet prices remain very stondy e.voept for yarns, whore there is no regulniily in spinners' (iiiotations.