A VERY WEAK SITUATION.

Otago Witness, Issue 2813, 12 February 1908, Page 8

A VERY WEAK SITUATION.

The Bradford market is in i vary weak and flabby condition, and things are worse 10-clay than since the memorable slump year of 1900. It is somewhat difficult to adequately define the situation, for things are anywhere between the devil and the deep sea It may be a time to exercise oov.rasre and common sense and no doubt these are the two factors which are the mosj required to stimulate both markets and men, but neither quarry seems at present to be in evidence Ai kinds of ■ prices are being quoted for every description, and to-day ;.t; .t is not so much -vhat an article is worth as what can be obtained. There are many holders who for weeks have been sitting on the fence and refusing to budge a fraction, believing that actual conditions did not warrant the acceptance of lower prices, bu' v hese have at last come down "rom their exalted position, and in many case* are willing sellers if they can obtain a bid. The offer« which a.re being made are in many cases extremely low. and as the majority of ■spinners refused tc follow the strong upwaid move in October, they are to-day unwilling srill to buy, as they believe that lower rates will iome at no distant date. I don't think I should have any diffir-ulrv in buying a good 3uper 60's top at 2s Id. and 40"s at 13id, and probably at even money. Getting an offer at all is to-day almost a favour, and I am certain that in no single quality is there the least evidence of strength. I The financial situation is stiil regarded with anything: but pleasant feelings and decided uneasiness is felt over Germany. Remittances are few and far between orders from that quarter are very limited, and 'particulars" for delivery of old yarn contract? are not by any means plentiful. It is rather a pity that this financial crisis should be on us at the close oi. the year just when stock-taking becomes general, and there is a universal desire to cany over as little as possible. Spinners keep going, but while the current output is in the majority of cases going off, still there is net coming in delivery particulars as spinners have been accustomed to during the past year. Export houses are naturally very much opposed to increasing liabilities" with Germany, and a collapse there would be the most serious blow that could befall the wool trade to-day. All English wools are as slack as ditchwater, and there is nothing inspiring whatever in any de parluient. Some L°i * putchases of mohair

hi<.\o been made at the Cape at the lowest prices of the year, but theje is no i:o\e here.