The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1920-09-27
HENRY CLEWS WRITES
OF COTTON SITUATION

New York, Sept. a. - (SpeciaD--
Henry Clews, writing OF cotton condi-
| TONS says: -
"The continued downward trend In
the quotations for commodities gener-
ally. coupled with the sharp slashing
OF prices OF merchandise and the prod
ucts OF some OF the leading industries
OF the country have checked any ten
dency toward Improvement In the cot
ton market and is primarily responsible
for the resumption OF the decline In
cotton. The reduction OF SO la per
cent In the price OF manufactured cot
ton goods announced by the Amoskeag
Manufacturing company, 80 per cent.
manufacturers OF cotton sheetings
and yarns. the sharp cut In woolens by
the American Wooden company and In,
automobile prices by the Ford and
Franklin companies with the heavy
cancellation OF orders in the steel and
allied Industries have all combined to
discourage new trade or speculative
buying OF raw material Many other
lines are expected TO follow in the re-
sumption OF the dedation movement
which is apparently being encouraged
by the reluctance OF federal authors
ties to extend additional credits TO pro-
ducers. farmers and manufacturing IN
dustries. Tho threatening attitude OF
the British coal miners in demanding
new schedule and the contemplated
united action OF the Manchester Master
spinners' Federation against the move
mcnt, will probably lead to n general
lockout In the event OF strike. Fears
are also entertained that the labor
troubles in the Oldham and Blackburn
min districts will lead to more short
time and curtaiiment OF production OF
cotton goods In Manchester. Yarns
and cloths in all the large British mar
kets are dull, with less interest on the
part OF buyers. Not much new busi-
ness in domestic yarns Is coming IN
with prices stili above the ideas OF
b,,yers. which IL creating more or less
OF A deadlock for the time being. The
renewed weakness Of the raw material
has checked the buying that had set
in, but n steady cotton market TOT
few DAYS would probably lead buyers
10 again change their views ana enter
the market more freely. under DR.
vallIng conditions spinners are agaln
holding off and with declining prices
far goods claim the manufacturer Is
unable 70 buy on n larger scale as there
ia no mn Rin of profits at present. Inc
limit of huving OF most descriptions u
cotton goods appears to he again re-
strIcted 70 small lots. the mprovS-
men noted Il confined %S,,y 20 , sra general
huyers OF domestic dry goods are NOT
tempted to increase their business &c
sp,ts The numerous price cuts, Retailers
are also inclined TO hold or, cisimns
further price establishments IN aoul.iUvn
"a those already established. Generally
favorable weather conditions with tenn
nerstures above normal throughout the
belt. and plenty OF sunshine. nave tn ~
suited in a material Improvement N
cotton in much OF the western belt. IN
tho eastern portion conditions are prac-
tIcnlly unchanged with reports OF
tendency TO light top crop In central
and southern South Carolina, southern
Mississippi, Alabama, Georgia ana
Florida. Very good progress Is re-
ported under the Influence OF ory'
warm weather IN Arkansas and Texas.
Altogether conditions during the past
ten DAYS have been very favorable tor
opening cotton and satisfactory prog
ross Ia being made In picking ana gin-
ming In practically all sections, Win
only few local complaints OF shortage
OF labor"