New-York tribune., 1912-01-02

II can be seen from the above that prices
decreased during the year. thus indicating
without further proof that cloth was not
much in demand At times prices ruled
firm, especially the latter part Of August,
when NJ. c. D. Borden's local broker pur-
chased large quantity Of 27-inch goods
for the American Printing Company's con-
Germ.
On May 10 spot mddling uplands cotton
was highest II being at 1915 cents a pound.
On December S il was lowest, at $50 cents
pound. Cotton has ruled ordinarily low
the greater part of the year. but their full
complement was not used by the mills be-
cause of the great amount Of idleness by the
mills, which was necessary because OF the
small demand for cloths. Since September,
however, statistics show that the amount
Of cotton received by the mills has exceeded
that for any previous quarter OF the year.
The mills Of Fall River consume about 800.
600 bales annually. The estimated total
cotton crop for 19ll-12 Is l4SS500O bales
against 13, $4,000 bales for 1901. The es-
innate for 1S7S-'79 was 5,O73,5}l, against
5,575,S ,S97 for 1880. While cotton will be
plentiful this year. there is much doubt
concerning its quality. and those who are
in a position TO know state that the staple
is not so satisfactory as II was in years
past.
The curtailment among the mills Of New
England and of the South has been eX-
tensive and il has been roughly estimated
that for the New England mills alone the
suspension OF operation amounted to about
40 per cent. The mills In the South. espe-
cially the cotton yarn mills. curtailed eX-
tensively, and their output was much re-
duced The mills in this city produce about
25O.OOO pieces weekly Approximately 49,
600 600 yards), and any extensive curtail-
ment means an elimination of a large
amount of cloth. Because of reduced oper-
ations the New York and other cloth mar
kets were relieved OF considerable cloth, and
consequently there was no unusual surplus
Of goods thrown upon the markets.
The total amount Of dividends paid TO
stockholders during the year amounted TO
81. 3S6, ,10g, an average Of 5.02 plus per cent
on the total capitalization Of $780,, 900.
against S1,S27,0j0. 6.S9 plus per cent Oh a
capitalization Of $2Ll05,0JO In 1910. Only
one mill passed dividends during The entire
year of 1910, while ten passed at various
| times during the year just ended, particu-
| larry for the last quarter OF 1911. The mills
throughout New England are in very good
physical condition and during the curtail-
inent some mills availed themselves Of the
opportunity of adding new machinery at
considerable cost, while others had worn
out machinery repaired or replaced by new
machinery. While 1t would be a most diff
cult task 20 state with any degree OF ac-
curacy the amount of money expended for
new machinery and repairs. IL would not
occasion any surprise if the amount totalled
81, 800, 900. The year 1912 opens under
rather depressing conditions. and while
! some of the best informed textile men both
| in New England and in New York hope for
an early change and have stated that in
| their opinion conditions will soon right
themselves, to others 1t seems that the de-
sired Improvement is far off and that very
| little change is to be expected until at leas:
the Presidential election and tariff legisla-
tion are settled.