GERMAN INDUSTRY.

Taranaki Daily News, 28 July 1921, Page 5

GERMAN INDUSTRY.

TEXTILE TRADE BOOM. GREATEST IN THEIR HISTORY POSITION OF BRITAIN. By Telegraph.—Press Assn.—Copyright. London, July 26. Commenting on a Berlin report that German textile companies are enjoying the greatest boom in their history, that the mills have sold the whole of their output to December, and that some are refusing orders for 1922, the Yorkshire Observer points out: “When Yorkshire was manufacturing and wool was growing ever dearer, the Germans were undergoing a compulsory regime of economy, forcing them to use up war-time substitutes and materials, preventing the piling of stocks of textiles bought at boom values. Fortunately for the Germans they haff not a Government monopolising the purchase of wool clips on which it made a total profit of £71,000,000, as Britain had. "The British Government monopoly prevented Germany from buying wool during and after the war at boom prices, and now she is reaping the advantage of filling her Warehouses with the cheapest wool since 1914, which Yorkshire, owing to losses on boom-priced stocks, the coal strike and the general depression is unable to buy. Germany had access to cheap free wools, but if wool should continue to fall Bradford will have the opportunity of ‘replenishing stocks at prices comparing favorably with ’hose paid for recent, purchases on the Continent from the 8.A.W.R.A., aided by Australian panic legislation. These must not be allowed. "In the meantime Mr. Hughes is stated to be attempting to engineer the removal i of B.A.W.R.A. wool altogether from the market, which will be another magnificent win for Germany. Bradford has been and is being hit in all directions.”