THE WOOL MARKET.

Gisborne Times, Volume XXVI, Issue 2208, 4 June 1908, Page 2

THE WOOL MARKET.

SITUATION UTTERLY DEMORALISED. PRICES STILL DECLINING (From our'Special Correspondent.) BRADFORD. April 24. The market this week has been interfered with considerably by tho Easter holidays, and everybody has welcomed the chan-ce of being. able to get away and leave behind the distressing factors which at present obtain in wool. The last market day showed further weakness, and everything is on a lower, scale than when 1 last wrote. As proof, of tho very unsatisfactory state of trade, much machinery shut down last Thursday till the following Wednesday, and plenty of mills arc standing -a full week, some not even beginning till next Monday morning. This is a longer holiday than there has been for years, and if tho whole trade could stand bodily for a- month, it would give tho breathing space that is very urgently needed. Everything is depressed to a degree, und instead of thero being any chance of business, to effect sales is altogether out of the question. Nobody will look, and nobody will buy. Plenty of topmakers of good standard super GO’s are wanting n 0 more than 2'ljd, and a Jess bid would be jumped at. Even merino spinners are crying out that the end of their yarn orders is well in sight, and “particulars’” are coming in very slowly indeed. Spinners who all along have expressed confidence that tho tide would turn, have begun to cry out, and big firms are faced with conditions tho like of which they have not known for the past seven years. _ Manufacturers ure finding that their customers will not take up their piece orders as they would like, and instead of repeats coming in, there is a tendency towards cancellation.

In tho case of crossbreds, there is the same doleful tale to tell.. Fifties tops can bo bought .anywhere from lojd to Ikjd, 4G’s are not worth more than lid, and 40’s can be bought by tho shipload at Bjd, and possibly less. It is really disappointing to find the situation so utterly demoralised, and liotuVng but lower values stares London brokers in the face for tho May axles. There is still a complete absence of -all business on Continental account, tho yarn orders which arc offered being on a lower basis than anything yet -accepted. It is really painful to see the condition of some spinners who are simply fast with everything., T'liey. cannot get rid of spun yarn, and without doubt in a good many quarters there is financial pressure. Mohair is still very quiet, though a purchase in Port Elizabeth of Capo firsts at lOd has been made more as a “spec” than anything else. Todays price here is 11-jd to 12d.