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THE WOOL INDUSTRY
Our Yorkshire Letter
Market's Outstanding Features
Raw Material Values
(Prom Our' Special Correspondent.)
BRADFORD, June '4.
Among tilo news recently received in
Bradford from Australia tho writer has
noticed an Intimation that good winter
conditions were assured for pastoralists,
tho coming clip being expected to bo bet-
tor grown and about 21b. heavier Ijcjr
sheep than for Inst season. / -One terna
just a littlo hesitancy in venturing to
congratulate the pastoralists on this
prospective achievement. It cannot be
doubted for a single moment that es-
pecially If really satisfactory prices aro
forthcoming, a bigger wool clip would
help to retrieve Australia's fallen for-
tunes. On this question of price, how-
ever, great issues aro still dependent, and
even with an unaltered production, there
ls not much to indicato a higher level
being attained in the disposal of tho next
clip. Tho statement that tho said clip
is expected to be better grown, was made
by no less an authority than the National
Bank of Australasia, which received Hs
Information from Melbourne.. At : the
samo timo tho cabio was rattier vague,
anl if a bigger weight of wool to the
extent named is produced'throughout
Australia, Ibero will bo a substantial in-
crease compared with last season. AVlth
prices where they ,are to-day, a.nd . In-
creased consumption In all tho manufac-
turing districts of Great Britain, as well
as on the Continent, there should not
bo tho slightest difficulty In shifting all
this wool, but that is exactly where tho
uncertainty exists. . ?
WHAT INCREASED PRODUCTION
'COULD DO.
With auch an increase in production,
however, as the one named, and assum-
ing that the bulk of tho clip can be pass-
ed into buyers' and users' hands within
a reasonable length of time, the /Aus-
tralian exchequer will benefit vory.:sub-'
stantlally. A moro surprising part ot
tho cablegram, how'ever, ls that, stating
that higher prices,aro anticipated. From
tho Colonial point ot view, this is un-
doubtedly desirable, and it will indeed be
a'very happy combination oC events if a
bigger clip realises on' an avorago a bet-
ter price per lb. There ls time be-
tween this writing and when the bulk
of the new clip arrives in consuming
centres for very great changes to como
about, but wo are now in'the month of
June, and In about another six weeks
shearing will bo general. There is,
therefore, no time to waste lt trade Is to
get moving sufficiently to guarantee bet-
ter prices for the raw material at tho be-
ginning of the season.
Whilst dealing with wool production,
some statistics may be Introduced.
Dalgety and Co. Ltd. have stated that
during the first ten months ended April,.
1931, 2,415,000 bales of wool were ex-
ported from Australia, an increase of
433,000 bales compared with 1929-30, and
532,000 bales from New Zealand, an In-
crease of 27,000 bales. From the Board
of Trade returns it can be said that of
the exports from Australia, 749,642 bales
came to the United Kingdom, and 372,
231 bales to the same destination from
New Zealand. Also the imports of
wool from all sources Into the United
Kingdom during July-April, 1930-31,
totalled 2,046,340 bales. 1,400,000 bales be-
ing retained, and 646,282 bales re-export-
ed.
HOW PRICES COULD BE IMPROVED.
From those figures lt can be seen that tho
exports from Australasia so far this sea-
son have been larger than lust, and a
bigger quantity has como to the United
Kingdom from all sources, for tho quan-
tity Imported in the ten months ended
April, 1930, was 1,824,259 bales. There,
ut course, Is the wool which since tho
ond ot April lias arrived in this country
and on tho Continent from Australia and
New Zealand, and that which ls now on
tho wnter. How much this may bc can-
not bo said, but there are evidences ot
big consumptive cupaclly In spite of thc
depression which has boen experienced
in Yorkshire. Tho total of United King-
dom imports includes what has been re-
ceived from South America and South
Africa. It is interesting to noto that
there has been a big fall In tho quantity
of wool sent from tho latter country,
whilst during the seven months ended
last April, exports from South America
wero 92,790 bales more, equal to more
than 270,000 bales of Colonial weight.
The South African clip being ail Mer-
ino, and the South American contain-
ing a big proportion of crossbreds, makes
it impossible to discriminate in any re-
liable lashlon between the two descrip-
tions, so far as quantities are concerned.
Nevertheless, one ls forcibly brought
back again to the conclusion that the
aggregate weight of wool which tho in-
dustry can absorb Is very large indeed.
With anything like such manufacturing
conditions as topmakers, spinners and
manufacturers in tho West Riding of
Yorkshiro desire, a bigger Australian
clip can be absorbed quito easily, with
even somo improvement on the prices
puxxent iorjtey. ...??il
I : ?..
ROYALTY VISITS WEST RIDING, r -f
1 ? : " : ' ':H
Lust week His Koyal Highness, Princa -i
George, visited tho works ul John Priest
icy, and Co. Ltd., and Manningham
Mills, and took a very great interest In
everything shown to him. In an inter- -¡i
view with Slr. .William Priestley, tho v.!
Prince suggested that there was a need " i
for tip-top salesmen who could speak r ;
the languages of tho countries to which '.^i
they wero sent. Being told that "'? i'
our salesmen could speak tho
languages of the countries in;.,,
which they travelled, ho expressed tho .;;
fear that other industries were not so well
equipped. Tho Imperial "Wool Indus- :'i
tries' Fair and the: Bradford Historical |
Pageant were discussed with the Lord . i
Mayor of Bradford. A warm wolcoms "\
was given to His Royal Highness hy ..,,]
operatives at John Priestloy and Co. .r,
Ltd., where ho was conducted round tho
premisos by Mr. John Emsley, who after-' 1"
Wards expressed. tho opinion that thora -i
would be an Improvement in tho Ar
gentlne trade as a result of the Prince's .
visit. Lunch was provided at Manning- . i
ham Mills, where lively Interest was .
again shown In technical details. At
Saltaire Mills two suit- lengths wera
chosen, ono being a Uno bluo slate col
oured shadow check, and the other a ,','i
very fine blue serge. Slr Frank Sunder- ?-?
son is-the chairman or tho directors ot 1
this-firm, and Mr. R.. "W. Guild manag-
ing director. A brillo lining also was
Inspected, and some of this is being sent ./
to tho clothing factory of Montague Bur- ' ;
ton Ltd., Leeds, where - a suit is bein?.
snador for tho Prince as a memento of -
his visit to that city. His Royal Hlgh-i ' ';
ness was accompanied throughout tho , ;j
tour by Mr. J.: H. C. .Hodgson, President1 ;
ot tho Bradford. Chamber ot Commerce, n>
and Mr. H. T. Tulloch, secretary. AW ' j
tho abovo concerns, and very many
others which might bb mentioned, aro alt1
facing, the manufacturing situation la-
the hopo that there will como an in>¡ -.
orease in world 'demand for wool goods, ! :
BRADFORD MANUFACTURING ,. ,,rr
CONDITIONS.
? Nothing better can be reported about .
the wool trade at Bradford. TopmakerB
aro'finding very littlo Inquiry for Ilia
combed article, and on Monday thora ¿'j
was not oven tho Antwerp "futures' ?
market to givo any . lead to tho move- .,
ment,ot prices. Ono disappointing fen- ...
turo ls that tops bought at considerably .
bólow to-day's lovel are not being taken c
up at all freely, and this.makes it. seem .."
unlikely that any ?big weight ot nevr
business will bo done without nt least a ..
slight further fall in tho combed article. ,,
The trade is recognising that thero ls a
conslderabo . volume of raw material tn ._
handle before the next now Colonial clip .
can be faced with any ronl confidence.
There aro large stocks of both Merinos .,
and crossbreds in combers' hands or in
merchants' warehouses. The latter dc- .
sciiption is no doubt the moro formid.
able proposition of the two, for Utera . >?
should bo little difficulty In getting tho
bulk of the Merino stocks out of the way
before the new clip begins to como for- , y
ward. There are still five weeks before ,. ,
the.next London sales, and in that limo
a lot of wool can be absorbed, lt is too "
early to anticipate any movement of raw
material values cither way, but to-day i;.
there is a .slight .sagging tendency In
both Merinos and crossbred tops: 24d. 13 ;.
a nominal quotation for average C4 s, . .
with-ld. more for warp, and all cross- . .
breds, If anything, are In favour of tho
buyer. The call for yarn ls poor, and
as manufacturers are unable to get any
response from wholesale piece goods -,
houses, they are only prepared to place
speculative orders for yarns, it spinners . ?
will give some concession in price. Hom» "
trado seasonal requirements In plew...,
goods aro about finished for the tim»...;
being, and little compensation ls being...,
found in export. Every section of th«
industry is very largely marking time, .
thero, being ho real Inspiration any- . "
where, though there, is some probability J
of tho raw material:continuing to oxer«.,.,
clso a dominant influence. _
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