New-York tribune., 1919-07-16
Holds Spectators
artly to Blame
For Goods Shortage
Head of Dress Fabric Buv-
ers' Association Does Not
Look for Increased Scare
ity; Fall Trade Promising

Problems affecting styles for the
spring season of 1920, the present sit
uat'on regarding supplies Of textiles
and buying and selling polcie were
discussed yesterday at the mid year
meeting of the Jobbers' Association
OF Dress Fabric Buyers, held at the
Hotel Waldorf-Astoria. Owing to the
present perplexing conditions arising
out of the inadequate mill outputs and
the unsettled situation in the field of
labor, no definite new plans for future
trading were adopted by the associa-
tion.
AT the morning session of the meet
ing the president of the association,
II. Clay Miller, in his annual address
declared that the present shortages
OF merchandise were due in large part
to buying by spectators. He also
took exception to predictions that the
scarcity Of goods would increase
rather than decrease during 1920, and
he intimated that if the consumptive
demand is finally satisfied the hold
lngs of spectators, if forced on the
market, would result in the repetition
",
when sellers were in a stampede to
unload their goods.
Roberts Advises Caution
George E. Roberts, vice president of
the National City Bank of New York,
was the next speaker. Mr.. Roberts
asserted that he was reluctant to be-
lieve that the present levels Of prices
and wage were permanent, and he
stated that when agriculture in Eu-
rope comes back to normal condition
toodstuffs and agricultural products
Will come down with the increased
production.
with a return to normal condi-
tions in Europe" said Mr.. Roberts,
"a falling off Of our expert trade and
decline in the prices of agricultural
cline of wages and prices in the other
Industries or agriculture will be un-
fairly dealt with and suffer depression.
And the agricultural interest is so
large that depression there will cx-
tend to all the other industries
This doesn't mean that we are not
to have good trade this fall The
prospects are excellent for that. But
it does mean that the present situa-
ton is artificial and abnormal, and
that it will be we'll to be cautious in
Sooner or later readjustment will
have to come"
Cotton and Wool Plentiful
Arthur r. Marsh, Of New York, at
tributed the present high prices to in
fiation in credits, and he declared that
as the world now has 100000 bales
of unconsumed cotton which, with the
new crop will make the total supply on
August l about 16,5OO,0OO bales, 35-
cent cotton would not be justified if
things were normal. Arthur t. Mason,
treasurer of the Hamilton Woollen
Comany stated that although there
was enough wool to go around, the sup
ly of labor was not sufficient to sus-
tain outputs.
At the afternoon session Of the asv
soclation the discussions made it clear
that the buyers do not expect any re-
action in trade for some time TO come.
! The members condemned the custom of
allowing rebates on goods sold and al
ready shipped, and it was agreed that
some plan should be adopted to elimi-
nate cancellations. though it was ad-
mittcd that the jobbers would have a
difficult time to induce all retail deal
ers to sign confirmation of this order.
1t was decided to appoint a committee
to discuss ways and means to prevent
cancellations.
1t also was the sense of the meeting
that the mills should be requested to
protect the buyers against declines in
prices in the primary market on goods
bought for future delivery.
A suggestion in the form of let
ter recommending the lifting Of tho
restrictions against imports of Ger
man vat dyes, which was put before
the association, aroused the indignation
of the members.