YORKSHIRE LETTER

Dominion, Volume 12, Issue 181, 26 April 1919, Page 10

YORKSHIRE LETTER

WOOL ISSUE PRICES

REDUCED FROM APRIL 1 (From Our Special Correspondent.) Bradford, March 13. , ■ The event of the week is the issuing by tho War Office (Wool Section) of a very important announcement regarding wool values and what is going to be tho line of operation for the next eight months. It seems a, long, timo to look forward to next November' 30, but that is tho date when tho order will terminate. Whether it' will work satisfactorily, time alone will decide. In the trade there are two distinct camps, one believing that there now. exists no longer any reason for doubt and that confidence should be restored. The majority, however, are in the other camp, their strong conviction being that a reduction of 7J pep cent, on April-J in the issue prices of .'wool and tops will not work the oracle, that it is only postponing the evil day, and there can bo no confidence so long as artificial moans are employed for the disposal of wool and tops. The writer shares this view, though a still more important need is.the opening of British ports for the purpose of doing an overseas trade in wool and textiles with those countries which are wanting both raw and partlymanufactured materials. It certainly is an appalling fact that, while British users are asked to purchase the raw material, tho outlet is blocked with restrictions which aro seriously troubling the entire industry, and if there is no radical improvement tho writer is certain that the fixed _ conditions regarding tha sale of wool in .Lonaon for the next eight months will break down. Already there is pressure in the accumulation of certain stocks of raw material, particularly 40's (crossbreds), of which tlie Department are offering to 6pinners almost any quantity they like, and it is safe to 6ay that those would not "stick" as they are 'doing if facilities for the export of crossbred yarns were forthcoming.

London Sales Programme. It ha 9 given entire satisfaction to know that Coleman Street Wool Exchange is to open. It has already been announced that April 2 is tho day fixed for the first 6efies of auctions, -and the fact that this is a Wednesday has not gone down with the'traae. Tho salos could just as easily- have commenced on Tuesday. It is only one more evidenco of tlie official mind failing to appreciate one of tho common usages of the trade which in years gone by have worked well. However, the trade will get over that day like all tho . rest. We give below the official programme for tho London and Liverpool sales up to tho end of the year. It should be pointed out that 80,000 'bales are available at tho first series, but tho quantities have not been fixed for any of the succeeding series, that depending entirely upon arrivals:—

April 2 to 11—eig'lit days, London, 80,000 bale's; April IB—one day, Liverpool; May 6 to 23—fourteen days, London; May 28— one day, Liverpool; Juno 17 to July 4— •fourteen days, London; July 9—one clay, Liverpool; July 15 to 25—nine days, London: July 30—one day. Liverpool; August 27—0)10 day, Liverpool; September 2 to 19—fourteen days, London; _ September 24—one day, Liverpool; October 7to 21— fourteen days, Lotidoftj Ootober 29—one day, Liverpool; November 4 to 21—fourteen days, Loudon; November 26—one day, Liverpool; December 2 to 19—fourteen days, London. New Issue Prices. Perhaps the most important part of the announcement is that relating to values. The writer has mentioned before that a 10 per cent, decline ivas provisionally fixed upon, but it now turns out that tho issue prices are to bo reduced on tho average by 75 per cent. Tho explanation is given that owing to the changed conditions brought about as a result of fhe armistice, certain charges in connection with tho transport of wool, such as submarines risks, etc., cease' to exist, and some modification has also been obtained in respect of freight rates. The Department welcomes tho change in these circumstances as affording an opportunity to reduce. the present issue prices for wool, tops, and noils, thereby benefiting the comirfunity by means of assisting in the reduction of the excessive lovel of prices obtaining for all essential wearing apparel which have for a considerable period been a burden to the consumer. Acting on the advice of the members ot the Wool Council, that in order to restoro confidence in the trade during the transition period and to ensure, so far ,as possible, continuity of employment, an oiideavour should bo mado to stabilise values, these revised prices, as indicated in the annexed schedules, will , remain in force until November 30,- 1919: — Government Issue Prices for Wool 1C per cent. Rogaiu. , v Fleece Wools. Quality. Superior. Average. d. d. 80's 70\- : 67V 70's warp ; 67£ 64j 70's 66 63 G4's warn - 66 63 - 60's super 65 62 ■ GO's 62 59 58's G5& 621 56's 49 46 50's US, 41J 48's 39i . 37i 46's . 35 33 44' a 35| 31-1 36's 29} 27j . Pieces and Bellies, Quality. ' Superior. Average. d. d. 80's fiSJ 65} 70's warp Gs} 62p 70's G4" G1 64's warp 64 61 Gl's 63 60 CO's warp 63 GO GO's GO . 57 ■ 58's 58i 50J 56's 47 45 50's 42i 40i 48's 37i 331 46's 34 32 44's 32t 304 40's 291 271 3G's 281 ' 26j Prices of Tops in Oil. / ' Colonial, 1 p'erJb. d. 80's 79 70's 76 70s average 73 64's warp 73 ; 64's average ,71 60's super 69 GO's ordinary G8 sS's 61 56's 54 50's carded 47 50's prepared .' 48 48's carried 41 \ 48's preparat 44 4G's carded 38J 46's prepared 40 44's carded 36 . 44's prepared 35i 40's curded 33 ■!o's prepared 33$ •M's 321 ' British 29J British. 58's super Downs' 58 58's ordinary Downs 57 56's ordinary Downs .... 51 4S's supor north liogg. .. v 4S Best roller lapping 35 Best lustre wether 34 36's Dovon 33 32's Devon HI J 36's Scotch 30 32's Scotch 26 Dry combed tops, 7 per cent, more than oil priccs. ' Tim n'xive particulars liavo given rise to considerable debate throughout wool circles, and tho .auctions are awaited with'intercst. Everybody wants to know what is likely to be the demand. It is already n' foregone conclusion (hat fino crossbreds will sell like hot cakes, because tho trade is completely devoid of 50's to sG's. Probably good combing merinos will also sell at tho. full schedule »rices, but it remains to lie seen if confidence is re-cslublished sufficiently to induce freo buying. On that point a good deni will depend. As already indicated, the crux of the whole matter lies in British norts being open and freo export allowed.