The New York herald., 1920-01-03
RAW SILKS HIT
RECORD PRICES

The quick comeback of the raw silk
market was the feature of the week that
saw the close OF the old and beginning of
the new year Prices asked now are about
the highest in the history OF the trade and
have caused local buyers to come into the
market in fair numbers, as further ad-
vances are expected.
The cables from Yokohama reporting ad-
vances Of around so yen boosted prices
In the local market and Japan reports that
there Is steady buying at the higher figure.
in the local market. and japan reports that
200 yen since Christmas, has a firm tone,
with only about $4,000 bales of reserve,
compared with $1,000 a year ago.
Both the Canton and Shanghai markets
have advanced during the week TO a par
with prices ruling in the Yokohama market,
and cable. report liberal buying despite
the higher prices. The exchange situa-
The feature Of tho Canton market at pres
ent seems 20 be a great American demand
for new style filatures.
Higher prices are said to be due to the
heavy buying for broad silk manufactur-
ers and throwsters in America and Europe.
Some contend that the last advance in
prices will cause q tapering off in orders
going to importers and turn to the fila
ture owners of the Far East.
Aside from a few spot sales the thrown
silk market here remains unchanged with
no business being accepted by dealers,
most of whom are far behind in their de-
liveries.
From what seemed a high price when 1918
opened, the quotations have advanced to
about double what was asked then for all
grades, and the year opens with record
prices for all grades Of raw silk, regardless
Of where they are produced.
The Japanese have the only silk now
available While it is impossible as vet to
give accurate figures of the crop. it would
appear from what information is obtain
able that the product was about 10000
tales.
The carry-over from the previous crop
is estimated conservatively at 25,000 bales,
giving a total approximately Of 265.000
bales. According to late figures the sales
and shipments have been 1850 bales or
nearly one-haIf of the entire crop. pro-
vided 265.000 bales is a reasonable esti-
mate. The rest of the world has none,
and what is left, which may be 135,0O0 to
140. 900 bales, must satisfy all requirements
until the next crop.
America alone is using 5000 bales a
month. What Europe is using is not
known. but it seems to be growing, what
ever the figure is. Assuming that Amer
lean mills are supplied for two or three
that the statistics of supplies available
and the requirements are sufficient to
develop avery strong market.
All the year demand has been increas-
ing. More French mills are starting each
week. and they are sold ahead so far that
it is necessary for them to secure raw
material to insure their own deliveries.
England is developing her silk business,
and is taking more raw silk. Heretofore
both France and England have taken
principally Canton silks. but with that
crop sold it is necessary for them to
buy in Japan. The Japan and italian
crops are exhausted, and Italian throw
sters are buying In Japan.
These are some of the factors that are
tending to make prices high. No new silk
can be delivered before the last of June
or early in July, probably about July 10,
1920 and present supplies must satisfy
Of manufacturers all over
the world until then.