The Washington herald., 1921-08-17
STEADY DEMAND
FOR FINE WOODS
Holds UP PRICES
Industry More Confident
AS Conditions Tend
To Stabilize.
Low GRADES DULL
Some Speculative Trading
Among Dealers in Cape
Secured.

dustry of the country Is growing
increasingly confident concerning
the future as result Of the sue
cessfui openings Of lightweight
goods during the past three weeks.
The nature of the demand has not
changed greatly, to be sure. almost
all Of the buyers showing q strong
preference for the finer grades Of
wool, but there Is some demand for
the medium and even for the low
medium grades down to good quar-
ter bioods. Indeed, there has been
some inquiry concerning East In
dia woods both on spot and for i'm
portation, since the Treasury De-
partment promulgated It's ruling
Pto the effect that all Glass III"
woods as they have been known I'M
der former tariffs could be entered
free OF duty. apparently. with the
thought of making up goods Of the
homespun and tweed types.
The attitude Of leading mills other
than the American Wooden Company
in naming prices which show prac-
tically no change, as compared with
the prices named at the opening
of the heavyweight season, has
tended still further to stabilize con-
ditions all through the several
branches OF the industry, and while
the yarn spinners and topmakers
say they have not yet received the
benefit of the stabilized conditions,
nevertheless. there is a better feel
ing among both combers and spin
ners, and there is less tendency TO
consider any shading Of values,
although low counts are still irreg-
ular.
Fine Tops Quoted Mt sI.I0
Good fine tops are quotable for
domestic combed stock at about
$1.lO, although this is an outside
price and some sales are still be-
ing made at about SC less. Good
2-0os fine yarns are quoted by To-
cal spinners at about $500. this
being for really good stock, of
course.
The situation in the foreign mar
kets is generally steady. So far as
the English market Is concerned,
there has been little change =.
ing the past week. conditions l.
ing no worse in financial way
ther failures having been announced.
during the present week the mills
through Yorkshire will be closed
on account Of the annual holiday
shutdown. Coed 6fs tops are be.
ing quoted today in bradford ar
about 80 pence with no large supply
of stocks in hand. American orders
have been cabled to Bradford for
Iotany nDils. which arc very scarce
at the moment
The bradford trade is confident
that the near future will show a
mu"n better state of affairs than
nov exists and the bankers have
peeh giving every assurance Of
'helr intention to cooperate fully
win the trade in the matter of eN-
tension of credits where conditions
possibly viii warrant such action.
Australian Prices Higher.
The eyes of the wool world have
been on the sales in Australia this
week and interest has been keen
TO observe tendency for prices
on the best types Of finer grades
TO advance. Thus at the closing
sales in Melbourne and Sydney for
the week, prices We're about 10
per cent up as compared with the
opening rates this week on good
to choice warp Merinos, while fine
cross-breds We're up about 5 per
cent. Orders for these best woods
were reported to have been in evil
dence to some extent, from this
country, although il does not APP
pear that the purchases thus far
made for American account have
been heavy.
In South Africa and South Amer
lea there is reported to be a fairly
steady demand for wool, which ap-
parently has served TO keep the
market at those points steady. The
sales in New England are going
on at more or less regular inter-
walls. The prime minister of New
Zealand, who is now in England. has
told the Yorkshire trade that the
ol-growers in New Zealand. with
out exception, lost money on this
last clip. but that they look for
ward confidently TO better times this
coming year.
Interest Keen in Tarin.
Speculation about the tariff is nat
urally more or less keen and there
|
present hill now before the Sem
ate can hardly be passed in it's
present form. as it is deemed TO
be impracticable to a very consid-
cradle degree. At the moment. the
senate seems to be committed def
nitely to the plan Of American valu-
atoms. but many think that fiat
rates per greasy pound of wool will
be decided upon eventually as the
easiest and most practicable solu-
ton of the tariff dilemma. so far as
the wool schedule is concerned. The
growers are making a determined
night for the fiat rate on the secured
content and want 30c a pound i'm
posed as the rate. Movement of tn .
new domestic clip continues in a
slow manner at about the same
rates which have been current lat
terly.
The current market situation. in
nutshell resolves itself into n