The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-01-17
PRICES HOLDING FIRM.


/ Those persons who are looking for
an early decline in prices may find in
teresting certain facts regarding the
situation as set forth in a bulletin is
sued by the American Exchange Ma
tional bank of New York. Woolens
and worsteds offered at auction in
New York by the American Wooden
company recently, says this authority,
brought higher prices than the trade
anticipated. Jobbers bought odd lots
at prices little below the old list quo
tations and clothing manufacturers
were not able to obtain much that
suited their requirements. This auc-
ton sale indicated scant supplies in
second hands. In the face of this firm
ness in the cloth market certain man
ufacturers of clothing in Chicago and
Cleveland have announced cuts of
from $3.50 to $500 a garment, and
this has confused the retail trade.
Other manufacturers claim that the
cuts have been made in lines that were
priced too high and that no such re-
| auctions are justified by either cloth
market or labor conditions.
the same time the government offered
part of the supplies it had taken over
for war purposes. Trade estimates
| placed the stock in the hands of the
government at a higher figure. and
those who attended the sale were as
founded when the wool administration
announced the stock on hand amount
ed to only 1926, 100000 pounds, incIud-
| ing about 25,00O,00O pounds of secured
wool. AS a result the offerings COM
manded prices above what the gov
eminent is supposed to have paid. and
it is probable that the coming spring
| clip of western wool will find ready
market. The government wifi not
have to take much foreign wool as its
options are subject to cancellation.
Some wool experts believe that the
government will make a profit out of
| Its wool transactions.
The British government controls
about SO0.O00.0o0 pounds of wool in
Australasia which cost about 81 cents
a pound in the grease. English cloth
manufacturers hope to obtain this fine
wool at relatively low prices which
will enable them to undersell all other
countries in the open markets of the
world. Our government has been
paying about 60 cents pound for raw
wool, or about $1.40 pound secured
wool, which is practically double the
cost of wool in Australia. The impos-
sibility of moving this Australian wool
during the war accounts for its low
price. The British government is in a
wool, and it's policy is of vital interest
to American textile manufacturers.
I Great Britain and Ireland emerge
from the war with their textile mills
in good order. In Belgium and
northern France the Huns removed OF
destroyed the machinery in the cotton
wooden and linen mills and carried
away the raw materials and finished
goods on hand. Some compensation
will be found in the large mills of AL
be in fair condition, and also in those
of the Rhineland now in allied hands
France and Belgium drew most o.
their flax fiber from Russia.
France has maintained her silk in
dustry in spite of the war, the mills a
Lyons and elsewhere being outside thu
field of military operations. AS thu
raw silk comes chiefly from Japan
China and Italy, the mills will be abb,
to hold their own.