THE WOOL MARKET.

Gisborne Times, Volume XXVI, Issue 2205, 1 June 1908, Page 1

THE WOOL MARKET.

WEAKNESS IN LONDON.

PRONOUNCED DEPRESSION PREVAILS.

(From our special correspondent-)

BRADFORD. April 17. Once more there is further weakness in the Bradford market, and the dry rot is not yet stopped. The situation hero is painfully slack, and nothing but pronounced depression prevails. The slightly better feeling of a good week ago is completely off, and everything is again on the downward grade. Good super GO’s tops can bo obtained iu any quantity at 22d, : and one topmaker is .stepping over another ill order to effect, sales, each making a lower record. The sales which are talcing place are as much forced as anything, and unquestionably the financial situation is giving cause for very serious concern. It is very-painful to see the money that is at present being lost, and to make a profit on wool bought anywhere is almost unheard of. In crossbreds, things are decidedly worse, and Gd and under lias been accepted lor a very good 40’s—one of the best on the .market. There is a tendency to let things go if a holder can get the chance, and everything points to still lower prices. It is really distressing to find business so difficult to do, and to see every sale failing to realise anything like cost price. There as an absolute lack of confidence, and the approaching holidays are being looked forward to with real pleasure as likely to afford a- little relief from the

depressing circumstances of the last three months. Machinery is being kojit going dn the majority of. cases, though short timo is becoming more, general with crossbred spinners. Plenty of mills are shutting down on tins ovo.of Good Friday not to re-open again till tho middle.of next week, while somo arc actually playing a whole week. The feeling 'generally is ihucli loss;hopeful than is was, and there is no accession whatever of,now business. Tile. Continent affords no encouragement to export houses, and instead of orders, there is oven an absence of particulars oil old contracts. Reports from abroad are no hotter, with the exception of America*, and during the past week a low sales of colonial wools, ranging from 44'js to 50’s have been made. United States buyers look moro like business, and a ’move in that quarter would soon have a very beneficial effect upon every other centre. Mohair is likewise in a very depressed condition, Capo firsts especially dropping in price. Good Turkey averago is; quoted at 17(1, and firsts at 12d, with no demand even at that. The losses on Cape firsts are simply tremendous, and business with spinners is not as good as it was. ■