OUR ENGLISH WOOL TRADE

New Zealand Times, Volume XXXVII, Issue 8357, 18 February 1913, Page 2

OUR ENGLISH WOOL TRADE

DISTURBING FACTORS DO NOT . AFFECT FRIGES'. From Our Special Correspondent. BRADFORD, January 1«. With the end of the holidays wool has again, come to the front in no uncertain way, and this week as much interest has been displayed in the course of th© raw material as ever. It is really surprising what strength there is about the article, but when it vitally affects the business interests of so many, no surprise need bo felt at it cutting such a prominent figure in the West -Riding, i’hero was never a time in the history of the trade when so many hands and so much capital wore employed in the industry, ■ aim this week in a very pointed manner wo have been reminded of the great development which has taken place in the Bradford trade, by one ot the speakers at the annual dinner of the British Wool Buyers* Association. The topic discussed was certainly an appropriate one, and a nice sidelight was thrown Upon the position of the trade in the early tines and sixties. Tho contrast to*day witii that early period is greater than words can clearly show, for comlis, spindles and looms aro now turning out more than double what they did m those days, and in some cases even three tunes as much. It would form an interesting piece of information to know what weight of tops and yarns could be produced from one machine 50 years ago compared with the output of tho present time, for manufacturing appliances are now about as perfebt as they can bo expected to be. Probably the operation may be the same, but the increased output has played an important part in the working expenses of a mill, while at the same time the output never reached the standard of perfection that we. see to-day. Not only has the output been more than doubled, hut tho quality of the work done has vastly improved, for whereas in the "good old days” shorter classes of raw material were discarded entirely, to-day wo have combs and spindles capable of turning out good tops and yarns from even shabby pieces, bellies and locks. MERINOS A 1 -SHADE FIRMER. Tile position of merinos must still be called good, and on Thursday the tone was certainly stronger than we have seen for at least three weeks. It does seem, a strange anomaly that in. spite of the Balkan crisis and a thieatened dyers strike, a most optimistic feeling prevails regarding the future of due wool ana tops. Vv hero can wo look for an explanation? The question is well worth asking, and an honest attempt being made to answer it. In ordinary times a big dyer's’ strike and a Near fJastera difficulty such as has confronted the trade since November would have oeen sufficient to knock tho -bottom out of the market altogether, instead ot that hue wools to-day are strong, and appear likely to remain so. The only explanation that wo can give is tho very satisfactory condition of the consumptive end of the trade, and undoubtedly that is the arohetone, as it were, of the entire fabric. Several important wool brokers stated on Thursday that they have had some very satisfactory sales of wool this week, and the big weights of JSlazamet skin wools which have also been disposed of show how tho land lies. This certainly does not indicate any weakness, for it is hardly likely that topmakers would put money into very large weights of raw material if tlicy had any misgiving regarding the future. Those who do a speculative importing trade say that they have been surprised with the healthy inquiries which they have received, and we know for a fact that several firms .have sold big weights 'of raw material. This certainly is a clear indication that topmakers are well sold forward, and even if they have not experienced big sales of tops, some nice ordinary weights of 25, 50, 75 and up to 100 packs have been disposed of time and again. When we come to prices, a distinct advance, cannot lie chronicled, but we find that there are fewer topmakers who are squeezable, and while hero and there it may be possible for a man to get in at 2s 4jd for a somewhat lean spinning Gf’s. the bulk of the makers are firmer than they have been at 2s sd, the best even naming 3s sid. Cape tops are by no means in the soup, and sotnn reasonable quantities have recently beeh sold. The most surprising thing about them is that they should be only saleable at |d less than a similar top made out of Australian wool. Here we have an anomaly which is puzzling a few, but we cannot do otherwise than chronicle the fact. Some big weights of Cape wools,are coming to Bradford this season, and this business is developing, more spinners to-day spinning Cape tops than ever before. \Ve are certain that this class of wool and the tops made from it are not appreciated at their full worth, but prejudice is fast disappearing, and those who once use them seldom cease to do so.

CROSSBREDS XO MOEE THAX STEADY. The position of crossbreds leaves a little to be desired, but they certainly ars no worse than they have been. In© influence of the J3alkan trouble is undoubtedly felt more in this department than anywhere else. Many yarn spinners complain bitterly, and it is acknowledged that soma rather heavy stocks of single yarns are in spinners hands, the low prices which are being taken for second-hand yarns and by spinners who have stocks being anything but satisfactory. As a matter of tact, wool is selling distinctly higher than tops, and that is the difficulty of the situation. When wo contrast the big weight of wool which has been offered this week in Xew Zealand, together with the Christchurch sale on Monday, it is remarkable that 30,1X10 bales ot wool should be lifted without even a 5 per cent, decline being reported. Some private Xew Zealand cables report values just a shade in buyers’ favour without feeing quotably lower, but even admitting that the decline is 5 per cent, it is nothing for anyone to quibble over. Tops have not lost ground during the ween, although it is quite true that here and there one hears of a trifle less being accepted, probably on account of forced gales. We do not see any reason for crossbreds declining at all, and with patience tops should sell at recent ratee. THE DYEES’ STRIKE. The worst fears have at last been realised, and the strike has actually commenced. What the result will be no man can say, that depending a great deal upon the length of time dye houses and finishing establishments remain closed. It is nothing leas than scandalous that men who have had offered to them such a substantial advance should refuse to work, and for the whole trade to be hold up because one section of employees leaves work is more than a joke. X'o doubt the time is opportune from the men’s standpoint to bring about what they desire, but no regard seems to he paid to the serious dislocation of business, and the disastrous effect which will be produced upon the nation’s industry. Wo are afraid that many men are heartless and completely lacking in the elementary principles of business, and one wonders how long it will be before dis-, pntee of this nature are settled without resorting to such cruel means as going on strike, thereby arresting a trade. We do not think it policy to paint a Slack picture of the probable effects of the dyers’ strike, preferring to await developments. We might say that it will now mean a stoppage of' the piece ond of the industry, and also seriously affect the dyeing of both wool and yarns. If all the finishers in Yorkshire come out it will not only affect, the worsted branch of the trade, but the woollen end also, and this will play havoc with the coming season’s business. Mills everywhere are exceedingly busy, prospects for trade are as good as ever, hence it is to bo hoped that both masters and men will’ make a special point to get to work with as much speed as possible, and so help in the continuance of the present piping times. EXCELLENT FOREIGN TRADE. The publication of the Board of Trade returns for December enables one to see the general course of our textile export trade for 1912, and they are certainly worth careful consideration. Had there not been tbe Balkan trouble, it is safe to say that our exports of worsted yarns as well as mohair and alpaca yarns,, would have been equal to any previous year in the history of the trade, but after all. the figures will bear analysis by every careful student of the wool and textile industry. The following table shows the principal exports from this country during the years named:

OUTLOOK FOE LONDON SALES,

Next Tuesday will see the opening o£ the first series of London sales for the current year, and buyers will go to Coleman street knowing that a sound situation is marred by two rather serious factors. Time only can decide what eflect the Balkan question and the dyers' strike wall have upon the course of values. We are not looking for any advance in prices, but for all that wool will sell .freely at about December's closing rates. We do not see any reason for higher pricvs at this juncture, preferring first of all to have these two big bogies out of the way. It is certain that if there had been no political and industrial struggles, the textile industry would have been enjoying n booming time, but it is to be hoped no one will adopt forcing tactics, for we do not want a debacle such as ensued after the 1899 boom. We can very well dispense with everything of that nature, and be all the better for reasonable steady markets with a continuance of progressive trade. Both merinos and crossbreds should sell freely at firm prices.

1910. 1911. 1912. Tops (lbs) 37,9^8,200 44,826,000 Woollen, yarn (lbs) .... 4,053,700 5,751,400 6.248,600 Worsted yarn (lbs) .... 63,840,000 59,623.400 66,783,500 Yam, alpaca, and mohair (lbs) .... 17.372,100 15,992,100 15,492,500 Tarn, hair or wool (lbs) 9,714,200 9,369,000 Woollen tissues (yards) 97,717,300 100,593,300 Worsted tissues (yards) .... 95,369,600 78,484,900 - 72,187,800 Wool and mohair plushes (yards) 372,700 354,900 386,600 Flannels and delaines (yards) 7,642,800 7,554,200 Carpets and carpet rugs (yards) 8,543,100 8,837,800 Blankets (pairs) 1,122,409 1,125,548 Hosiery, wool, etc. {£) 956,656 1.037,255