Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1918-11-22
Review of Cotton and
Wool Markets Of u. S.

The First National Bank, CT BcstoD, il
its monthly review says in part. !
Cotton and Cotton Goods--The latest cen.
sus report OF the ginning OF cotton showed
e gain OF GAG, 900 bales over last yea- In the
p.ckings 20 October 81, and while the total
was $50, 900 bales less than in 1915, it was
over 400, OC0 bales above the figures for
1915. All things continue &c point 10 a
substantial supply in this country FOR some
time TO come and this is leading manutac-
turrrs TO be conservative IN their purchases.
The government has decided not 10 put
price on the crop, but as other methods o.
qualification ere being worked out success
fully 4 j. not proving easy FOR spectators
TO run values very much above spot price
Of 81 cents per pound. The critical Gays
Os reconstruction after The war are at hama
IN the industry, and The gradual withdrawal
% the government, The largest cioth GUS
toner. IS pending. The price fixIDg boaIh
was DESTROYS OF reducing the basis Of cloth
VA ldes under the TTice-fixing plan. nut as
this policy appeared 10 promise little in TIE
next six weeks the general understanding Is
that the current values VIII he continued 10
the end Of tho year. : gradual contraction
in UriccS IS f1TeShGduwed hy offerings rem
iobhcrs and by the willingness q some mills
e., shade government quotations bti.e on
iEn few late contracts accepted up IL tl!S
zine. 1t Is expected that price control VIII
He continued FOR Sunee time II the efrort 20
assist n preventing any possible tendency
toward advances. The RESULTS o. the cleo
ton Lad comforting influence upon many
manufacturers and merchants Wno dreaded
aay iinkeT;ng with The taritf ~ part OF the
after-war legislative plans. Uncertainties
have been 50 numerous tina myers nave
been diSiaclined 20 operate on lines OF CIV
ilian merchandise. Government orders nave
been large and some O. them viii occupy
the attention OF the trade fer long time
to come. This is particularly true OF CLOTHS
used in Red Cross and other similar work
raTf mil
closed extraordinary earnings for the year
ana very h"althy financial condition TOT
war times Mere are some anxious Gays
ahead in tna adjustment of wages IN east
ern mills, due about December l, With the
cxnration &C wage terms, and the most sig
nificant factcs IS that mill managers IN all
sections are uniting so that the general
wage conditions may be handled cooper
atiyely. In so far as dry goods merchants
view the outlook for cotton goods, they are
convinced that there will be a fmI marker
for any available production for some tlme'
although they are prepared to receive many
requests for the adjustment and modification
of government and other contracts not yet
completed.
Wool-Although peace can hardly be
signed formally for some time yet every
effort is being made to discount its effects.
The return to q civilian basis CT operations
for the wool textile industries, as well as
for other lines Of business, has already been
the subject of deliberations by the govern
ment authorities. 1t is the accepted fact
that the government will not award con-
tracts for further military fabrics for some
time 10 come and that the bids recently
opened fer many million yards OF military
fabrics under the advanced programme
Of the quartermaster general Will not oe
accepted. Thus, the position OF the nllIS
was again where IL was when the Splnners
association on October Is, made representa-
tons to the government that unless military
contracts were let at once, or the mlils
allowed to have wool for civilian manutac-
~ Of fha ppNhp
cry would be shut down by December 81.
II has been officially announced that
limited quantity Of wool VIII be released
for civilian purposes, pending the Worklng
out of a more comprehensive plan by the
war industries beard. The eagernes or the
mills for civilian woods remains to be dem
Ohstrated. in view of the dizziness which
has nermeated the goods markets recently.
Clothiers apparently anticipate lower prices:
at any rate their inaction tends in that d.
rectiOn. Disregarding the factor or shipping
accommoda lions, the petition OF our manu-
facturers is hardly enviable. Under an
adverse tariff, foreign manufacturers were
beginning to flood this market with cloths
made abroad, until the war broke in 1914.
Even during the eight months to September
/, 1918, we imported 2,250,574 square yards
of cloth, / ,347 $50 yards of wool dress goods
44S, 4S7 pounds Of yarn, and 62,254 pounCS
OF wool tops, chiefly from England. where
according 70 reliable reports. machinery has
been considerably increased during the war.
One element Of strength in the domestic
situation is that the stock Of wool in this
country is comparatively small. According
to government returns, there were in deal
ers' and manufacturers hands September
80. 1855 900. 900 pounds OF wool grease equiv
alentl compared with Csc, OO0,ON pounds q
year ago. The action of the government
will be watched with great interest, since
the western growers undoubtedly VIII seek
to perpetuate fixed prices and high ones,
too, as long as possible. The action OF the
federal administrator or noils and wastes
last week in releasing certain wool wastes
for private trading, however, is taken as
straw indicating that the wind is blowing to-
ward private initiative in the wool business
once more. The appointment last week or
a committee Of representative wool mer-
chants, at the request OF MIR. A, NJ Patter-
son of the war trade board, to advise on
matters relating to foreign wool, would also
seem to indicate that steps are being taken
to give our manufacturers freer access to
the worlds supply Of wool ip~the foreign
primary markets, possibly with the intent Of
equalizing prices on the raw material, which,
in the British colonies, are 80 to 40 per cent
in favor of the English manufactures.