davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1919-02-15
World Comes to u. s.
For Tools and Hardware

American manufacturers are at pres
ent supplying a worldwide demand for
tools and hardware The largest
orders are coming from South and
Central America. The demand Is ex-
pected to continue, especially from
Latin America, despite the fact that
merchants is some of these countries
are still holding out for lower prices.
1t is the opinion Of American deal
ers, however, that the reluctance of
these merchants will soon be overcome,
as in many cases orders that were
cancelled a few weeks ago have been
reinvaldated, showing that consumers
have come to the conclusion that no
further reductions in prices for hard
ware are to be expected.
When the United States Shipping
Board places additional steamers in
the service the warehouses will be
relieved of considerable stocks of
tools and hardware which have been
stored awaiting the opportunity for
shipment, and, in some cases, lower
ocean freight rates. Generally speak
ing, hardware export conditions are
steadily improving.
New-York tribune., 1919-02-15
Metals
Copper Sold at II Gents
q Pound on Large
Speculative
Deal

A sale of copper was recorded yes
terday at II cents a pound, thus es
tabllshing q new low record for the
metal since the government restric
tions were removed Yesterdays sale
st the new price is said to have in
volved about 100000 pounds of cop
per. but none of the producing com
panies had any interest in the sale,
which is considered to have been of a
speculative nature.
Small producers of the metal arc
also selling February, March and April
copper at II cents a pound The large
copper interests are quoting Is cents,
but very little purchasing is being done
by consumers, who are holding off for
further recessions in price Copper for
export is still quoted at % cents
Spelter at the present price of 6&+
cents a pound is selling below cost Of
production, according to dealers, but
they believe it will soon rise if the heavy
buying that is expected sets in. There
is some business in lead, and this is
largely brought from the American
Smelling and Refining Company, as the
Independent producers consider the
price of cents, New York, too low.
New-York tribune., 1919-02-15
Chemicals
Use as Motor Fuel In.
creases Sale Of Ben
zol - PhenOI Is
Dull

The market for heavy industrial
chemicals as we'll as many coal tar
derivatives is conceded by manu-
facturers and dealers to be practically
at its lowest ebb. The supply of such
chemicals as sulphuric acid, soda ash
phenol and others is at present far
greater than the demand and the pro-
duction of some of them has ceased
entirely. These were all made in huge
quantities for the production OF muni-
tions of war, mostly explosives. and
the sudden cessation of hostilities left
the manufacturers with large supplies
on hand for which there is no i'm
mediately available market.
The demand for certain coal tar pro-
ducts has been helped somewhat by
diverting them into new channels. Such
is the case with benzol, now being
which. when mixed with gasolene, is
said to increase mileage from % per
cent to 30 per cent per gallon. Toluol
and solvent naphtha, produced in large
quantities during the war for the
manufacture of explosives, is now also
being used for fuel purposes
Naphthaline, used in the manu-
facture Of moth balls, is in fairly good
demand by the drug and dyestuffs
trade. The price is holding firm at
from 81 cents to 1O14 cents a pound
The demand for phenol is at a stand
still and consequently manufacturers
have ceased its production. This
chemical. which was not made in this
country at all until the war broke out
has been produced in tremendous
quantities.
New-York tribune., 1919-02-15
Cotton Garment Supply
Threatened by Strike

If the threatened strike in the cot
ton garment industry in New York
materializes next week. it is thought
likely that production will be so cur
tailed that women's muslin undergar-
ments, etc, will rise in price. 1t is
understood that both the union and
employers are prepared to fight the is
sues at stake to a finish.
Sixty per cent of the white goods
industry is centred in New York, al
though during the last three years
there has been a disposition on the
part of some of the large concerns to
establish factories in out of town To-
calities. It is not expected the fac
tories in other centres will be affected
by the strike here.
Supplies of these goods right now
arc not large enough to take care Of
orders during any period of inactivity.
1t is estimated that fully 75 per cent
oe the garments are made only upon
orders and it is not the habit of the
industry TO "stock' much made up
merchandise. Urder these conditions
a long period of inactivity would send
up the price of made-up garments,
even though the cotton fabrics from
which they are made were on the de
cline.
New-York tribune., 1919-02-15
Silks
Buying Of High Grade
Silk Fabrics Keeps
Dealers on the
Jump

Buying Of manufactured silks by
visiting refill dealers has been large
enough to make it necessary for
number Of leading houses to keep
open after regular hours. This de-
mand has given expression to a strong
preference for high grade goods.
Many importers of French silks are
now in France reestabishing con-
ncctions that were suspended during
the period of the war and trying to
pick up new lines to sell here. At
present the offerings made to dealers
IN the United States are too high in
price to permit Of much business in
fabrics for distribution the coming
spring. But in April some Of the
agents for French mills will take
orders for silks for fall delivery. par
ticularly those designed for evening
wear. BY the fall Of 1919 it is thought
that French interests will be in a
position to offer liberal quantities Of
merchandise for distribution in the
spring Of 1920.
At present the French mills, most
Of which are centred in and about
Lyons. arc not producing moro than
40 per cert Of their normal output,
but IS peace ~ declared by June the
major part of the French army may
be demobilizcd rapidly and with the
return Of the weaycrs 10 work produc-
tion is expected to get back to a NOR,
normal Volume.
New-York tribune., 1919-02-15
Japanese Haw Silk Steady
Italian Product Is Held at High
Figure

The Japanese market for raw silk
yesterday remained steady at Thurs
days level, which was the highest
reached in fortnight. Some import
ers assert that American buying power
has spent itself, and that downward
reaction in the Japanese market is not
improbable. On the other hand major
opinion runs to the view that as de
mand for manufactured silks is so
good, and manufacturers stocks are
small, and as the Paterson mills are
likely to resume operations Monday
next on q working basis of forty two
and one-half hours week recessions
in prices for the raw material are un-
likely.
Italian raw silk has virtually disap-
peared from the American market, and
supplies in Italy are held by the It.
allan government. American import
ers declare that the Italian govern
ment is quoting prices that discourage
the attention of American buyers, best
grades being held at $40 to S11 a
pound, this level comparing with $500
for the standard grade Of Japanese
raw silks.
Artificial silk, derived from chem
lcally treated wood pulp is in good de-
mand. This product is used in manu-
featuring a wide variety of articles
notably shirts and hosiery
New-York tribune., 1919-02-15
@ The Tribunes Page Of Business News y
Boston Dealers Speculate
In South American Woods
One Importer Places Large
Order With Argentine
Agent
Business Netcs Bureau
Special Correspondence


BOSTON, Feb. lathe wool market
here is showing signs of increased ac-
tivity and since the close of the gov
ernment auction last week some busi-
ness has been transacted in the open
market. Sales include all kinds of
wool, waste and noils, the short fibrcs
separated from the long fibres in the
wool combing process. Secured wools,
ready Tor use, and pulled wools, as dis
tlngulshed from the sheared product
are more available than other kinds.
1T is understood that some cloth manu-
facturers arc selling wool stocks they
have on hand to dcs3ers, who in turn
sell to other manufacturers
There is some speculation in South
American woods. A local importer who
has large interests in Argentina has
received orders for 100000 pounds Of
South American woods and he has sent
these orders on to his representative
in Argentina. Some South American
wools due to arrive possibly in April
or May are offered at five to eight
cents below the government auction
minimum prices.
The strongest demand in the market
now is for the higher grade wools, few
calls being made for grades below that
ssheared from quarter blood sheep.
Lincoln wools. which are among the
lorg fibre. high-clnss wools, have been
offered at forty-six cents pound.
Wools of this class brought fifty-one
cents at the government auction.
New-York tribune., 1919-02-15
Unfinished Cotton Goods
Are i'm Better Demand
Exporters Look for Actual Or
ders to Follow Foreign
Inquiries

Buying of unfinished cotton goods
has improved. low prices having at
tracted the largest volume of orders
placed in some time. This develop
ment is hailed by some mill agents as
indicating the turning point III market
conditions, though it is conceded that
it will take more than one days buy
While demand for finished goods has
not expanded to any particular degree,
it is conjectured that if buying, of gray
goods, the basic product, continues to
expand improvement eventually will
extend to the finished goods.
Mill agents say that retail dealers
enioyed a record volume of business
during the months of December and
January, and that by now their stocks
must be pretty we'll run down. The
mills are curtailng production, and
it is intimated that when buying power
returns in force, as it soon must, re-
tail dealers may find supplies made
quate to meet their demands.
1t is estimated that the govern
ments surplus holdings of cotton fab
RIGS has been considerably reduced by
purchases made for the account Of
various Federal departments, and
through shipments to Europe.
Exporters of textiles are receiving
more cheerful reports about prospects
for foreign trade, and in some quar-
ters there is disposition to look for
actual orders to follow the numer-
GUS inquiries that have been made
For prices, credit terms and shipping
arrangements. One prominent house
reports that sales Of ginghams and
shirtings have been made for shipment
to Hayti, a country in which mer-
chandising conditions have been stag
nant the past two years.
New-York tribune., 1919-02-15
Business Money

The market letter Of a prominent
Stock Exchange house yesterday morn
ing contained this: "By far the most
significant event of the week in gene
eral business is the charging demand
for money from commercial channels.
This can only mean that depletion of
stocks of goods on shelves of jobbers
and of supplies in shops of some
manufacturers has gone to the point
where business has almost stopped
You can not run boiler without fuel,
and even if you run a boiler it is
waste unless you have ready materials
to treat with machinery it supplies.
Business is in position to replenish
stock. This applies to the individual.
Jobber and great manufacturer"
The conclusions arc drawn from a
false premise. The truth is that this
"enlarging demand" simply does not
exist. Banks and commercial paper
brokers have not experienced it, Some
report an impcrceptiblc increase in
Che past week or ten days. Others
find, if anything. an actual falling. off.
OF course, business must rcpensh
stock, but at present it is doing so on
hand 20 month basis. The Clearing
House and Federal Reserve Bank
statements at the end of this week
should throw some light on the situa-
New-York tribune., 1919-02-15
&. s. Acts With Hardware
Men TO Protect Trade
Huge Supplies Will Be Sold in Such Way as to
Cause Minimum of ID isturbance, Dealer Says
Would Sell at Fixed p rices

Hardware manufacturers and dealers
throughout the country are kcenly in
terested in the disposition to be made
Of vast government stocks of machine
tools and other hardware supplies.
Some idea of the extent of these
holdings may be had from the fact
that the value of machine tools in
the possession Of the Bureau of Air
craft Production alone is estimated at
about S0,000,000.
The question with which hardware
men are chiefly concerned is as to what
method of distribution will be adopted.
There has been some uncertainty as
to whether the lathes and machine
and factories engaged in war work
under government control will be
thrown on the market, along with an
equally large assortment of shovels,
picks, whee elbarrows and various me
chanical devices used in construction
work, in a manner that will partially,
if not entirely, cripple the industry
for time.
Joseph F. Gleason, treasurer of
Montgomery & Co., hardware dealers
and distributors of this city, declares
lneIe Is lItIlc IedSOll W lear SuCn HI
outcome.
"The National Supply and Machinery
Dealers Association" he said yester-
day, "has received assurances from
government officials that the distribu-
tion of surplus stocks of tools and
hardware supplies under it's control, if
not disposed of in foreign markets, will
be handled in such a manner that ,he
hardware and metal trades will suffer
little if any injury. This organization
by the way, assisted the government
in many different ways during the wal
by controlling the output of it's mem
bcrs, directing that war essentials were
to be their first consideration, and ap-
pointing committees in various sec
tions to see that all dealers, not only
in the hardware line, but in alice
trades, complied with all requirements
of the government This happy rela-
tion has been continued and to- day its
members arc in close touch with off
Gals at Washington, planning for the
disposition of surplus government
owned material
"A heavy responsibility rests on the
shoulders of those who have this worl
in charge. Take the Bureau of Air
craft Production. 1t alone has some
where in the neighborhood of $4,000,
600 worth of machine tools in its pos
session. About 90 per cent of these
are in fine condition. Three per cen
have not been used at all and anothe-
3 per cent while set Up and beltet
have never been worked. A certain
New-York tribune., 1919-02-15
u. S. Silk Order
For TrOusseau of
Princess, $4,000
New York Given Preference
Over France in Selecting
Materials; Goods Already
ON the Way to England

In the league Of nations trousseau
which is being prepared for Princess
Patricia, a granddaughter Of the late
King Edward VII, American products
will be conspicuous. Although British
authorities have indicated that some
items for the wardrobe will come from
the Old World, it was learned yester-
day that at least SIS, 900 worth of silk
made in the United States was pur-
chased by Wallace Revelle, of the firm
OF Revellc & Rossiter, Of London,
dressmakers to the royal family.
J. A. Nigel, Of J. A. Nigel, Inc, re-
lieved az anxious world of needless
suspense by announcing to whomsoever
it may concern that his firm partici-
pated in the entrance of American fab
RIGS into the dressing rooms of the
British court. Two trunks full Of
moleskin satin, Moon-Glo Crepe. Moon
Clio Satin, Fan-TaSi in stripes and
black for outdoor wear and printed
Pierrette Crepe, he said. are now on
the high seas, soon destined to find an
enviable home with royalty.
"Mr. Revelle," the head of the Nigel
firm declared, Explained to US that
he decided to break precedent and buy
material for royal gowns in this coun-
Try for two reasons. First. he believed
he would be unable to get what he
wanted in France at this time. And, in
the second place, Paris would be too
handy for the initiating competitors of
'he dressmaking establishment"
The house of Revelle e. Rossiter will
rot convert all of the silks bought
from J. A. Nigel, Inc, it was said, into
gowns for Princess Patricia, although
Mr.. Nigel asserted that Mr.. Revellc
had assured him that part OF the ship
ment would be used for that purpose.
New-York tribune., 1919-02-15

tlon as whole. For the past several
weeks loans of the New York Clearing
House banks and Federal Reserve
notes, which arc largely issued
against commercial paper. have shown
steady decline. This does not iud-
cate any concerted policy on the part
of the banks. but merely the fact that
new commercial borrowings are so
small.
In the last few days commercial
paper brokers have been relying more
on out town banks for the sale Of
their paper, and less upon the New
York banks. The New York banks are
largely concerned at present with
financing the government.
In the acceptance market few
bills by silk houses arc beginning to
come out.
The New York State Superintendent
of Banks yesterday authorized the
General Motors Acceptance Corpora
ton of New York City to transact
the business of an acceptance COM
pany. It's capital is $2.000000 and
its surplus S500,000. The principal
business will be that of financing the
distribution of motor vehicles
The acceptance market is quiet and
rates unchanged.
The range Of rates for commercial
paper vas unchanged from Thursday
and a week ago as follows: Two
months So 5'a per cent; three months
5M512 per cent: four months 5(05la
per cent; five months 5M51a per cent;
six months 5(d l2 per cent.
New-York tribune., 1919-02-15

portion of these tools probably will
be sold in the near future, but the
method of disposal will be along lines
developed in recent conferences of rep
resentatives Of the leading hardware
and machine tool associations.
Zone suggestion that has been gen
orally approved is to have contractors
who we're engaged in war work take
over the tools in their plants. If the
contractor cannot be prevailed upon to
buy the machinery it is proposed to
turn it over to the government for dis
position, the price to be fixed by
board Of appraisal acting in coopera-
ton with the material disposal sec
ton.
when the machinery is definitely set
aside for inventory 1t is proposed to
classify the tools according to the
maker. especially where there are a
number of tools made by the same con-
Germ. A small number of tools made
by smaller producer will probably be
classified according to kind such as
drills, planers, lathes, milling machines,
etc. The further suggestion has been
made to send this list of tools in its en-
tirely to manufacturers who are repre-
scnted in the classification and also to
their agents and to other dealers. The
manufacturer thus would be given an
opportunity to purchase his product
at a price that will be equitable, but
in case he does not feel able to buy
outright will be able to help the gov
crnment in arranging for the market
ing of the product. Eventually a good
many tools may have to be sold at pub
lie auction, but hardware men feel GER
tain that speculation in government
owned stocks will not be permitted, and
these stock will not find their way
into the hands Of syndicates which
might be formed for the purpose of
carrying on speculative operations that
would tend to demoralize the market
"The hardware industry is not one
which under ordinary conditions ad-
mits of much speculation. The hard
ware dealer is at the mercy, so to speak,
of the manufacturer whose product he
handles. Prices are advanced or re-
duccd only when the manufacturer
takes the initiative. The margin Of
profit is virtually the same, year in and
year out. Just at present prices are
holding their own on material for
which there is any demand This may
be due to the fact that manufacturers
have very little, if any, stock made up.
"The hardware dealer can in no
sense be termed a 'protiteer.' He could
not even if he desired be one He does
not control the product he distributes.
His co-dealer, as a competitor, pur-
chases the same line of goods at the
same prices, and invariably when the
business year is finished he is fortu-
nate indeed if he has profit over and
above his overhead"
New-York tribune., 1919-02-15
Jewelry
Harder to Get Precious
Stones Than to Sell
Them, Dealers
Report

The acquisition Of stocks rather than
their sale is at present the great prob
lem confronting dealers in precious
ana seml-preclous stones, the former
including such gems as emeralds.
rubies, sapphires, fine black opals. etc
and the latter comprising AQUA
marines, tourmalnes, amethysts and
topazes. All these stones are exceed
'lngly scarce, and their absence from
the American market was yesterday cx-
planned by one Of the leading gem
dealers as due to two reasons, Stocks
at the end of 1917 we're very small but
even these small stocks were con-
sdered by dealers and retailers to be
sufficient for trade needs during 1918.
Consequently no great effort was made
to acquire stones in any great uuan-
titles.
After the signing Of the armistice
the public IN general, which had alb
stained from the purchase of jcwelrv
during the period Of the war, relaxed
its sclf-imposcd restriction and rushed
to buy. Makers Of fine jewelry began
at once to replcnish their vanishing
SAothS anu practically swept the mar
ket clean. and the demand for gems of
all kinds throughout the country is
still far greater than the supply.
Fine jade is coming into vogue, but
the supply Of the finer qualities Of
this material is extremely limited and
the rapid rise in the value of the Mexi-
can silver dollar. the basis of the
monetary system Of China, the only
country where jade is found. has ad-
dcd largely to the cost of this ma
tcrial.
Jewellers are placing their hopes for
an immediate and reasonable supply of
precious and scmi-precious stones in
the continuance Of shipments of rough
stones to this country for cutting
Since the outbreak of the war these
have been sent to America from al!
parts Of the world for production of
tho finished article. and American
cutters have so developed the art that
they are now considered the best in
tho world. There is reason TO believe
that in the future America will con
trol the cutting of gems, which was
| formerly almost exclusively in the
! hands Of the Hollandcrs.
New-York tribune., 1919-02-15
An UncOn rinced
Consumer

Business News Editor The Tribune.
Sir: We note with interest in your
issue of Feruary II the claim of Ameri
can dyemakers that they are not prof.
teers, but cannot see how they can
square their claim with the actual
facts in the case. Admitting, for the
sake of argument, that there was high
cost of plant equipment and raw ma
terials during the early part of the
war, your own columns show that their
duced almost daily, while their equip
ment has, of course, been more than
paid for, and probably over and over
again, by the enormous prices they
have been getting.
1t is a we'll known fact that there
were less than S8,0OO.0OO worth of dyes
used in this country in the twelve
months preceding the war, of which
81 500 900 worth were American-made.
but that during 1918 sales of Ameri-
can-made dyes aggregated more than
100000, ,0C0 The difference, there
fore. between these aggregate costs to
the consumer Is so enormous that it
cannot be accounted for on any other
score but protiteering, pure and simple.
During the war phenol, which is one
of the intermediates from which many
Of the dsos are made. was s1.50 a
pound. To-day it is quoted at 10 cents.
Other interme dates, such as naphtha-
line, with acids and sodas used in con
nection with the making of dyes. are
all coming down rapidly in cost. Here
arc the prc-war and present prices of
few of the dyes most used by manu-
facturers like ourselves:
New-York tribune., 1919-02-15
Some Woollen Mills Expected
TO Balk on F. o. B. Deliveries

In the woollen cloth trade there is
considerable speculation as to the at
titude the mills will take toward the
free on board mill method of selling
merchandise when buying for next fall
opens up in the next few weeks.
About 315 members of the Ameri-
can Association of Woollcn and WHst-
ca manufacturers have agreed 90 sell
their goods f. o. b. mill, but the
agreement IS not binding on all mem
berS.
"When the business actually begins
to come in, believe that the mills
viii break away from that agreement" :"
SAID a mill agent yesterday "One
of our mills is a thousand miles from
New York. how can we compete with
other mills closer to the purchase ser's
doors if he has to pay the freight ?
Other mills are in the same position.
and this is one of the most competitive
businesses in the country. So you
can see what the situation is likely
to be-