YORKSHIRE LETTER

Dominion, Volume 14, Issue 253, 20 July 1921, Page 8

YORKSHIRE LETTER

BENEFICIAL INFLUENCE ON WOOL MARKET From Our Special Correspondent. Bradford, Juno 9. Judged by the opening results, the current series el London sales should prove to be fairly eatislactory. .llieie is no doubt that there is upon the market eonio beneficial iutluenco which is the direct outcome of better stiles in Australia, and New Zealand, the inspiration from overseas being apparent in the l.undon sale room on tiie opening night. The majority of Home trade representatives who went to the auctions were not prepared to pay any more than tho prices ruling last serie?, and owing to the very adverse conditions prevailing in consuming centres in Yorkshire, they uro not likely to allow outside influences to affect them in extending their limits. It would be far better if things were otherwise.■ but nobody eau take stock of what is actually going on without recognising that very adverse influences are operating upon all manufacturing centres in this country. This is the tenth week of the coal strike; mills are being closed down every day, and will remain closed until coal becomes available. A strike was also commenced, among the cotton operatives of the Lancashire cotton trade, all tho workers being involved. This means a huge army of unemployed, contributing further to a reduction in. the purchasing power of the 'public, and a lessened demand for new clothes. This is an important factor which directly affects tha spinning and manufacturing end of the industry, and to-day wholesale clothiers, tailors, and retail clothiers, who ought to bo as busy as possible getting new fabrics into the hands of the actual wearer, are doing comparatively little. The wholesale clothing trade of Leeds has never had a more disappointing season for the past 25 years, and the outlook for tho sum|uer is anything but inspiring. Woollen morchants who purchased their present stock over twelve months ago, are finding the demand for their cloth exceedingly disappointing, simply because the majority of them have not written down their stocks in harmony with manufacturing prices now current. Patterns are still priced’ anywhere from 255. to 40s. per yard, figures which are ridiculously high in face of what manufacturers are willing to accept, to-day. This maintenance of cloth quotations is handicapping trade in. both woollens and worsteds, and the effect is, of course, being felt among spinners and manufacturers. German Zeal for Work.

The outstanding feature of tho auctions is undoubtedly the buying which is being done by the Continent, Germany being iu tho van as was tho case last series. AVhilst valuable time is being lost in this country on account of a disastrous coal strike, German mills are, engaged in working up the raw material, and thus are able to supply the hungry Continental markets. Judging from a report to hand last week from a respon. sible source, there appears to bo a real zeal for work in Germany. Workers are actually 'objecting io an eight hour day, not because they consider it too long, but because they think it too short. There is apparently a desire to earn as much ,ns possible. The workmen nro not only demanding longer hours, but also attempt to enforce them. They persist, in ignoring the advantages supposed to be gained from an hygienic point of view by having a short working day. It will probably sound strange to many Englishmen, particularly of tho extreme labour type, to be told that German workmen have repeatedly declared that they deny the right of the State to fix their working hours. The effect of this is being seen in London iu tho'forin of the large purchases of wool, to which reference has already been made. During the past three weeks a considerable quantity of raw material has been shifted by Germany in. South America as well as at the Cape, and practically the whole of the German wool textile industry is shaping for a period of activity. Owing to lower production costs, fabrics can be put upon the world’s markets at lower prices than Yorkshire manufacturers are compelled to ask. Oil Versus Coal. Mill owners who are fairly well off for work are adapting their boilers for raising steam by means of oil, quite a number of mills in the West Riding having installed apparatus for this pui'iHise. It is understood that the boilers can be adapted for oil burning in the course of two or three days, and that in cases where the experiment has been tried excellent results are being attained. Some mill owners express the opinion that nil things considered it is as cheap to raise steam b.v oil as by coal. The initial expense of the. oil is greater than that, of coal, but its calorific value is greater, though not. sufficient to make the oil actually as cheap ns coal. The use of oil, however, eliminates smoke, there is less wear and tear, and there are no ashes to bo dealt with, or coal loading to bo done. Another advantage is that if jt is desired. a reversion from oil to coal can be made in a couple of hours, and with practically no expense. British New Clin.

In another week the English, wool fairs will commence. Already a fair weight of new Irish wool has been offered, and next week fairs will coinmendo in Lincolnshire, followed by tho Midland counties. A very different state of affairs obtains to-day compared with tho opening of the English season a year ago. Instead of red hot markets there is slackness and despondency. Those who purchased the last English clip have lost “a pot of money.” We said ut tho time that those who bought last would save most. Although English wools are very cheap to-day they are not as low as they were in 1902, and if ons could rely upon good trade during tho remaining mouths of the year they would be well worth buying. At the present time, however, there is nothing to inspire speculation. Ths last, clip broke ail records in point of losing money for the first purchasers. In our opinion, the new clip will have to 'be bought nt prices corresponding to those of similar quality wool of colonial origin, and if that cannot be done it should be left alone. It is necessary to bear in mind the huge stocks of colonial crossbreds which are available. New Zealand and South American crossbreds can be used instead of any class of Home-grown wools. The wools from I’unta Arenas can lie used instead of Downs, and Falkland Islands wools are excellent for hosiery purposes. It is, of course, to be expected that many firms will purchase a far different quantity of Home-grown wool than was Hie case twelve months ago, but when all is said and done there is absolutely no need for anyone to speculate in the expectation of a boom. AH indications point in the direction of such a thing being in tho distant future. Tremendous barm is being done by tho present disorganisation, injury from which it will take, a con. aiderable time to recover, and then tlio trade will only be on the verge of making what may be regarded ns real progress.