New-York tribune., 1905-08-01
BRADFORD'S WOOL SUPPLY
Talk About an american Corner
The English Farmers Best Thanks.


chases OF wool These began early in the year
and there was a steady rise in price when the
new clip came into market American specu-
.ators charged with buying all the WOOL In
sight and attempting TO corner the market. Inc
purchases certainly have been large. for the rec
ords OF the consulate show that 60o.oOo POUNDS
have been exported from the Bradford olsuic'
alone and there have been considerable SNIP
sneuts from London and Glasgow. Prices also have
been high although this years clip Is unusually
large. Some OF the most influential manu1actur-
ers here have been convinced that these opera
tions were systematically conducted. with a view
20 the cornering of the wool market The most
suspicious members CT the trade have reported
that the wool has gone TO America TO DC KEPT IN
bond until the prices could be forced up Oy Inc
speculators and the raw material sent pach 10
Bradford The London sales, however have not
confirmed these suspicious. since the American
Suying has not been maintained ana the most
candid manufacturers are now admitting mat
there IS little evidence OF a determined effort on
~. mart Of foreign specuIators TO obtain control
OF the raw material for Bradford's chief indus
try The more reasonable explanation or the
half wears operations is that American manu-
sacturers made an accurate forecast OF the mar
ket and secured large stocks on the assumption
that wool would rise steadily in value. Possibly
,ba activity Of American buyers in the Bradford
Southern Russia where they were in the habit
Of securing considerable supplies, was shut out
end that less dependence could be placed than
formerly on other markets. Certainly the buy
,ers for some of the largest wOollen and worsted
snterests in New England made no secret OF
their opinion that wool would be high this year.
and they were among the earliest and largest
purchasers.
The American purchases. made on large
scale and without interruption since the opening
OF the year. have stiTened. without doubt. the
price Of English wool and benefited the sheep
farmers of the northern counties, the mdlands
and Scotland This heavy buying has also been
an indication OF the steady development and
prosperity OF the wOoen industry in America
and Il proof were lacking it could be supplied
from the consular returns. The Bradford trade
has lost tsc grip which ii once had on the
wholesale cloth business in America This
was a most profitable business in worsted coat
3ngs and Woollen dress goods, which gave en-
ployment TO carders and dyers. Huddersheld
still supplies the American market to a large
extent with the finer grades OF woollen and
rxorsted goods but the American manufacturers.
aided by the tariff. have secured control Of the
home market and virtually clothing the
masses Their trade has increased so largely
that they have become among the largest buy
ers of wool in the English market. In this way
the prosperity of their industry is felt in the in
creased foreign demand for wool and in the higher
prices which are commanded even when the
English clip is exceptionally large. While the
Bradford trade has been suspecting specula-
dive movement for cornering the wool market,
the English farmer has been getting more money
for HIS wool. Three pence a pound is the esti-
mated gain for the farmer which is quoted for
me here by a conservative observer. If this be
70 I
believe the English farmer has ground for
complaint either against the activity Of the
American buyers or against the prosperity of
the foreign industry which has been promoted
by tariff legislation. Nor can the American
farmer srun ole in his turn. for the price Of his
own wool has risen 20 keep abreast Of the Brad
ford wool market.
The Bradford manufacturers themselves do
not like the heavy buying early in the year. In
former years they We're. accustomed 20 purchase
wool as they needed 1t and to wait until the
market was vel stocked and prices were falling
before they laid in large supplies. They. were
enabled in this way &c. their material
reduced cost ana 10 control the wool market so
that they could maintain standard or average
prices for their manufactures. This year there
has been an upward market in advance Of the
clip and the wool has been rising in value on
the Sleeps back. This has been the effect Of
heavy buying from America by manufacturers
IN the Northern States who foresaw the trend
OF the market and felt it TO be necessary TO Sc
all the wool in sight. The Bradford manu-
facturers have held off, I'm the old fashioned way
and they wondering whether hey will
be forced 10 pay high prices or whether there
may not in the end be a slump in ne market
with the slackening OF foreign purchases II
the market We're TO be cornered as some of the
discontented manufacturers have been predict
ing that It would be, they would pay heavily
for their conservatism and lack Of foresight As
Is more probable. the prices will be fairly well
sustained without speculative interference. and
they viii have TO replenish their stocks OF wool
at disadvantage. American enterprise has up
set the old fashioned method of manipulating
the wool market by small purchases until the
anal slump. 1t is not popular with the Brad
ford trade.
This is not the only grievance OF the Bradford
trade against America. 1t has lost through the
recent Development Of wooIlen and worsted man.
ufactures in that country what was without doubt
zhe best part Of the business-.hat which kept
the carders and dyers busy and required few
qualifications Of mechanism and methods The
Temporary revival OF the dress goods and
'r'orsted coatngs trade under the Wilson tariff
was followed by a rapid decline under the
.Dingley tariff, and home manufactures in
america increased the Bradford trade was COM
TpeLed 10 adapt itself TO the situation and IN
send across the Atlantic other classes OF goods
such as cotton Innings and manufactures with A
lot OF cotton in them. This was not the Old Brad
FORD trade TO which the workers of the district
were accustomed, and the manufacturers could
not be satisfied with Il. The American trade
was once one Of the sources Of prosperity in the