OUR BRADFORD LETTER.

Gisborne Times, Volume XXVI, Issue 2218, 16 June 1908, Page 1

OUR BRADFORD LETTER.

SLUMP STILL CONTINUES. (From our Special Correspondent) BRADFORD, May 1. There seems to bo still no bottom to the course of things in Bradford, for prices all round continue to exhibit more weakness, while it is possible to b'uy on a cheaper basis than even last week. It is perhaps best to say that there is no ./fixed quotation lei- any quality, prices being more or less nominal, or perhaps subject to the bids made by those who have the courage to buy. All through the past week there has continued conditions which to say the least are depressing, and not withstanding some enquiries more or Jess of a tentative nature, real sound business is out of the question altogether. Nobody seems to have the spirit pr pluck to buy -anything, and Brail-, lord is to-day in a more limp and chaotic state than during the slumping times of 1900. Everybody aliko seems stricken with fear and paralysis, and the feeling- is a general one that the bottom is not yot touched.. In merinos there seems to bo a more general disposition among spinners to take up their past contracts, rather Ilian buy afresh even to average. It is patent to any careful observer that no one is desirous of increasing their financial obligations until the outlook clears. A good super 6()’s toj) can ho bought almost anywhere at 21d, and in some quarters oven .less, but even that does not induce business. The fact of the matter is, spinners aro receiving so few new yarn orders that there is no encouragement for them to como again into the market. There is -increasing evidence of business slackening, and more 1 rallies and looms arc going on short tiino. Wool is pouring into this market at a far more rapid rate than what the same is being negotiated, and at railway stations and combers there is strong proof of stocks accumulating. So far commission woolcombers have not had much cause for serious complaint, but tops aro not going out anything like as freely as they did, and that is rather a bad sign. In crossbreds there is great depression, and in several quarters financial pressure is being experienced. Not by any means a had 40’s prepared top can ho bought at Sd, and oven then there is no business worth mentioning. It is really astounding to see the small weight, of business thatus passing, notwithstanding the almost record price, which is at present prevailing, and instead ot spinners and even speculators commg in to do something, only a few forced sales are taking place. Cape mohair still tends downwards, and it is reported that firsts have been bought this week in Port Elizabeth at 9)d per lb.