PRICES FOR DRAPERY.

Taihape Daily Times, 21 February 1919, Page 6

PRICES FOR DRAPERY.

NO DECLINE IN SIGHT The future prospects in the drapery trade are dealt with in the London Times, Of December 2, by a correspondent, who writes as follows: There is a pervalent idea that, the -war having ended, prices for drapery and clothing will immediately begin! to recede from their present high level, and that in a month or two goods will be obtainable at almost the same rates as in the beginning of 1914. This idea is not confined to the public; many textile wholesalers, retailer, and shippers also imagine that a "break" will soon occur. Carrying substantial stocks and with heavy orders placed for future delivery, they are in a state bordering on panic, and are making frantic endeavours to cancel orders and avoid fulfilling their obligations. Apparently cancellations or returns will be refused save ;n exceptional teircumstanees.

In August, 1914, upon the outbreak of war much the same perturbation prevailed; it was feared that unemployment would be rife and trade stagnant in consequence. But, during the ensuing four years there has been an incessant clamour for supplies to meet the unprecedented demands on the part of munition workers and others. Almost anything has been selling at whatver prices the seller cared to ask for.

Ono effect of the armistice has been a oarked decline in drapers' turnovers. Women munitionccrs, faced -with reduced earnings and an uncertain outlook, are at last exercising economy. Many drapers are- now carrying immensely heavier stocks than before the war, bought on the average at quite twice the pre-war rates. However, anticipations of lower prices for drapery goods generally are not likely to be realised for several months. Indications point to still higher prices next spring. Future charges in the shops must be based on the amounts paid for existing stocks and future supplies. The campaigns to obtain better wages for warehouse employees and shop assistants will exert an influence on prices.

There are many factors affecting the question, When will prices fall ? Take cotton. Stocks of the raw material are so short as to >entail restricted employment in spinning mills and weaving sheds, and wages have advanced considerably in Lancashire. Government, allied and neutral demands will remain (considerable for a time.

In wool the position is the most difficulty Stocks of raw wool in this country are very low, and the reduction is causing very grave anxietyNo substar/tial improvement can be expected before May at the earliest. There is a world shortage of wool goods. It is to-day almost impossible to induce cloth manufacturers to ac-

cept new business on any terms, and prices when quoted as a*s much as

40 per cent above those asked for a year ago. Several wholesale clotheirs predict still higher values for the winter of next year.

Silk goods are largely in the hands of our allies and Switzerland. Highgrade silk goods from France ana Italy will not be cheaper in price yet awhile, and the outlook is doubtful in Japan.

Fur prices will depend in the main on the class of fur. Munition workers' demands for seal, coney, and other cheaper varieties arc falling off, and a reduction ,there is not unlikely; but for the highest grade of furs, such as seal, fox, sable, and ermine, prices will remain high for a long time.

Drapers may mark down, prices for various articles of a flimsy character, but any general reductions, on other goods seems altogether out of the question for several months. But The War Office intends to produce stanard articles of wear for men, women and children, for sale at controlled prices.