The Providence news. (Providence [R.I.]) 1891-1906, 1899-11-01
Market Conditions, They Contend, Must
Determine Cost utPTuduCtio6
LUCKY SpECULATIONS IN COTTON.
Operatives MOI Entitled 10 Share In Profits Of Such
Speculation Mills VIII Hive 10 Pay an
Advance for Raw Material.


resentng the Fall River Cotton Manu-
facturers association made public the
following statement yesterday defining
the position OF employers regarding the
demand for an advance in wages
THE manufacturers believe that the
help are not justified in seeking an ad-
vance in wages under the present mar
ket conditions. The good year that We
have had has been entirely due TO the
fact that goods were held over for
long time and that lucky purchases
of cotton were made when the raw
material was cheap. We believe that
there is no other way 10 base wages
than on the existing marker conditions
for cotton and cloth We do not take
the view of the case that Wages shall
be advanced as a result Of the profits
of speculatiOns. We do NOT believe that
the help are entitled u such profits.
Lucky specuIations are very apt TO
be offset by unfortunate ones, and the
help would not expect to have their
wages reduced as a result OF q bad In
vestment i'm cotton. The treasurers of
the mills have TO pursue different poll
cles in respect 20 the purchase If sup
plies. and what may be true of one con-
cern is not always true Of another. 50
that all mills cannot be placed i'm the
same class when proposition for an
advance in wages based on the prohts
that come from speculation is made.
PRICE OF COTTON.
Whatever good fortune the mills
have had an buying cotton low Will be
Offset by the fact that they viii have
o. to- pagan advance for the "a ma
terial. a mill that purchases zoo bales
OF cotton week viii be forced 10 pay
about $4,000 a week more than prices
paid last year. and unless the price OF
goods advances i'm corresponding de-
gree there will be loss rather than a
profit.
The operatives freely admitted Mon
day in conference that they would not
ask for an advance in wages II they
expected 10 base their claim on ths ex-
isting margin: they admitted that they
had no case at all if an increase We're
to be asked for and figured out on the
present difference between the prices
for cotton and cloth. The manufacture
ers know Of no fairer way on which u
base changes i'm wages than 10 figure
the cost Of production and the market
quotation for the goods manufactured.
Print cloths have always been used as
the basis for iguFlng margins. The
system was introduced many years ago
and has always been accepted up TO
this time
The operatives in making their de-
mand Monday laid great stress on the
fact that 33iA-inCh goods were selling
beyond the basis for prints. The price
for this particular kind of goods is iS
cents and this price is higher than the
basis for regular goods today.
CHANGE IN PRICES.
but three months ago the wide
goods were selling for less than the
basis for print cloths. the 3Sh-inch
goods having sold for 1I.10 when the
price for regular goods was 1925. The
operatives have been getting better
wages than II the same were based on
the price Of wide goods. and parucu-
larry the 3Sia Inch goods so frequently
mentioned i'm the conference Mills can
nor get the benefit Of the present price
for these goods for the reason that
many of the corporations are sold
ahead at prices smaller than the quo
tation mentioned.
when the manufacturers advanced
wages last spring 10 was rather OF
hopes than conditions. and that hopes
were realized has been a fortunate
thing. but on the present conditions of
the market n -+t4 et+fft-e ttf wages Is not
warranted. There have been no sales
OF regular goods made at "a cents.
Figuring prints at 2A cents and cot
Ton at 13s cents the margin VIII be
but 103s cents. When the restoration
ot wages occurred hast spring the mar
gin was 71.15.