LONDON WOOL SALES

Dominion, Volume 13, Issue 81, 31 December 1919, Page 10

LONDON WOOL SALES

RAW MATERIAL CONTINUED GOOD DEMAND (From Our Sp:o!al CorrccrioiKlcn t.', London, November G. Tho saventh series of London wool sales have been continued, and there is every reason for saying that from a raw 'material standpoint the position in the industry is' riuiti; healthy. Buyers arc turning up in largo numbers and evincing real interest in practically all classes of raw material. Continental requirements are 10-dny so large that even pieces, bellies, and lodes, whether merinos or crossbrc.ls, aro coming in for a , large share of attention, and though tno Homo trade are not very large buyers of these descriptions,, still, having a strong preference for good combing wool, tho strength of the competition for the, inferior sorts has been such as very large.y to make the aforetime clearly apparent difference in price and demand 'between the best and inferior wools' largely to disappear. This cannot be regarded as otherwise than a. satisfactory nhase of the market, as there are undoubtedly good manufacturing properties even 111 these so-called inferior wools. It is evident that wool users on the Continent are coming into their own (gam, and that with an expansion of the consumptive eapacitv of machinery in France and Belgium, and the bringing of the present restricted markets on the Contiuent into greater nTominenco as buyers, there is ov'erv indication that plentiful ns wool is to-dav. it will all ultimately find its wav into one or another of the fabrics wih'eh aro needed for satisfactorily clothing the world's populace. American Buying. Somewhat critical opinions have been expressed recently respecting the opportunities riven by the British Government to France and .America for buying wool, it being stated that the large operations of those two countries have made business very difficult for topmaKcrs in this country. / It needs to be horne m mind however, as already stated, tlin.t every country in the world has the right to teko a reasonable share of the wools which are available, particularly to participate in purchasing the classes of raw material which are belt suited for their individual needs. So /far; as can be observed at present, there is no indication of the market having been overstepped, pud certainly no manufacturing columnis likelv to compete for wool which is not adapted to their machinery, buch countries as Germany and Austria are not todav in a position to compete for anyi'lun.g tm't tho more reasonably-priced commodities/ not only in tho shape of the raw

material, bit also in manufactured articles So far as Amerira is concerned, the time is approaching When competition 111 British markets will become ■ ess. Indeed, were it not for the quantises of direct shipments which aro likely shorfcto to be 1 cold in Boston, American competition in .the London market would have been maintained at the remarkable pace recently seen. Even under present circupictnnces, when American competition is less distinctly, in evidence, as has been the case in London more ranntly..the« is every reason to be satisfied mth tlie prices fortheonrinp for grwisv ami scoured merino'wools.' When he former; won i basis of 74-d., and the latter selling: at up to 100(1., it is evident that the m for fine wools lias reached a stage -»Imc1» jf not critical—which it is certainly notcompels the question to bo. asked whethoi this class of raw material is not now nuito dear enough. The general opinion iQ that this is so, though it cannot be defied that the excellent manufacturing properties of theso wools and their sintihilitv for the production of superior nnalifv goods, demand for which is still forthcoming, is the sole reason for them so well. During the present series, however, the _ credit.is not due to •America for having established tho record. The dearest merino wools sold this series will go to the .Continent, and tlie popular West Victorian merinos being largely absent, attention has been automatically turned to tho*. irown in New South Wales, prices for wools from that Staw -giving a dean vield of no more than 5t per cent. ha\o ranged around 70. Carlwnising'inermos havo also sold exceedingly well ll.cia has naturally been considerable tion in the actual prices paid tor tee, but of course the -percentage of bun, and. other impurity, has baen cntuc.j responsible for this. Crossbreds Still Going Strong. The position is quite ns strong as it was ritJ tho opening. Bradford topmakers have shown a.grauer < tea* to purchase both medium and tics, their confidence , m , ft ese 1 ,been strengthened by tlie fact that con sidcrablo sales of medium tops tune been made on Continental account rec.nt )y The total weight of crossbred woo catalogued so far <(urmg die present series has not- been Margo, which may have had something 1o do with the P' lc <v» which have been forthcoming', and both creasy » u d scoured medium wools lum ffld an advance -of about 10 per cent, compared with the Previous auctions Low wools are geneiallj o l>cr 3 dearer.' There is no tallnig-ofE in the demand for line crossbreds. IJunj crossbreds have been available at c.om paratively reasonable weights, but on tho whole the tendency oi value* in u o sbred wools Mias been, as airen indicated, distinctly against tho buja. Warehousemen's Wages. Another example- of the almost constant efforts made by workpeople s oiganisations to secure advanced \w.g s citen by the recent demand ot tho Wool Warehousemen's Union for an <ulvanco ol' (is. per week. A .short time a.'o the warehousemen employed in tho topmakers' and combers es|-ablishmente in Bradford wefe granted thb aa.ancc, the increase being paid largely with the object, of making the work more attiactive and increasing output. It is> o* course recognised in the trade that witl - out. ail adequate supply of tops it l. impossible to supply all needs and to provido adequate Employment ror. other sections of operatives engaged in tile industry. It has also been recognised that in the absence of a sulnciemly attractive rale of pay it was unreasonable to expect that sufficient workpeople would bo forthcoming, one ot the disadvantages of employment in tho combins industry being that it oflcred less remuneration that was paid to men employed by the Bradford Corporation to clean the streets; To say the least, it is somewhat derogatory lo tho dignity of tho combing industry to have lo compare it with Hie. work of scavengers, llow far tlie attempt to make employment in tlie combing industry more attractive has been successful it is perhaps not possible, to say-with any doereo of certainty, but tlie latest develop* mcnt is that in view of the topmakers and combers' warehousemen having receivil tho advance named above, tlio Wool Warelionsenicns' Union has piii forward a claim for a corresponding advanco to lie granted to all other warehousemen employed in tho wool trad 9. This means that every other section is now faced with the possibility or having to pay the higher rale Jt is scarcely necessary lo poml. out that a largo number of men are employed in tho warehouses of the wool, uoil, and wasto merchants in the city, and many of tho masters have expressed their determination not to fall in with the warehousemen's demand. Quo reason why they have done so is lhafc they consider themselves to bo on all entirely different basis from tho topmakers and combers. Tho point is probably open to argument whether in reality this is go or not, for if combers and topmakers can recover any increases in wages by additional charges for combing or for tops it seems to follow quite logically that merchants can do the wine lor wool, noils, or wastes. It is contended, however, by merchants interested in the tkxoo last-uamod. iiiwt

tiicy cannot prolwl' thcnisolvcs, whilst eoiiibri's ;uul tup]iia!;ois can (!n quitu i.".oily. These liruis, it is slated, can cliarjjo more for romljin;,', or inlvinioo tho ])riee of thoir top?. Accordin;; to tli« principle that unity is strength, there is apparently littli! ehanec of (lie mcrohnnts ;.b'e to withstand the warehousemen's doiMiuls, for it is well knoini that topuiakers ami combers arc as a whole more united than the merchant.-?, and it appears that if due to reasons of expediency, combers rind topmakers -.leura it advisable, to pay a higher rate of wage, the merchants will not be able to bring to bear any effective resisting influence. Railway Transit Facilities. Complaint-; aro still forthcoming from nivmbers of the Bradford wool trade ruspeetin? tho inadequacy of the railway facilities. There is a feeling that tho companies do not care whether goods aro carried or not. This i-; rightly put down to tho absen.'o of competition, and it is argued that if each company were an independent unit depending only upon itself for its success, there would lie a much greater scramble in providing transit, than in.tho caw to-day. _It is pos.sibio, however, for this pooling of interests to cut in morn directions than one. It is understood that the chairman of the Wool Storage and Transit Advisory Committee has anr.ouii'.-'d 'hat storage accommodation for wool is now available at: tho premises of the three railway companies in Bradford, and that firms who desire accommodation should apply direct to olio of them. It is explained thai: the three companies h.avo pooled their storage accommodation, and that in the event of nay party applying to one company, and it being found that tho said eompnny ciinnot nrovide storage, nrrnngoments will bs made with one of the other companies. It is'thus apparent that some efforts aro being made to consider tho requirements of the trade. The greatest trouble, however, is that wool is only coming forward to consivm- . ing centres very slowly.