New-York tribune., 1920-07-21
[ebbers' Speeches
'Optimistic; Mills
Guaranty Is Asked
!. .a;.a,;ons of Sound Busi-
= NESS Reorganization Seen
:, Convention; Prices at
lowest, Buyers Are Told

q occasions OF optimism Iormeu Ine
- most Of the set speeches and
a;scussion yesterday at the semi
.u., convention of the Sobbers' AS
- ..,;an of Dress Fabric Buyers at
wsldorf-Astoria. The fireworks
we're promised BY the last number
.ss program, "An Interchange of
As.;r;,p on the Subject: What Is q Wise
H., Of Operation for 1921" failed to
..,.risliss. Outside the convention
-. some of the buyers were less
. ..sr;stic. and several expressed the
4 ...,ion that they were shaping their
i ...-,s merchandise policies on con-
,v,srasive basis.
II Several of the speakers, including
II s..h jobbers and fabric manufacturers
1 ~ selling agents, told the convention
I aat prices Of textiles were at or near
4 he bottom and that advances may be
,rnected in the near future.
Il Bentley P. Nef, of F. A Patrick &
I Ca Duluth, Mimi. president of the as
4 .Ocistion, in his opening address
,truck note of optimism which was
i ..boed By other speakers throughout
/ ne dsy. He expressed the opinion that
he worst Of the credit strain is over;
I tbst there has been some improvement
N the general business situation, both
I IN this country and in Europe; that
uresert uncertainties have been
brcugh. about from financial rather
1 .hsn merchandise reasons; that the
orcs cutting wave among retailers was
subsiding, and that crop conditions
i we're good. The fact that people have
] turned from extravaganza to conserva-
4 tsm in their buying, he concluded, was
an Indication of safe and sound busi-
j ness to conns-
4 Ask Mills Guaranty
The suggestion that the mills from
I whom the jobbers buy their merchan-
disc take out the element of risk for
the jobber in spring goods was made
BY N. G. Cooper, president of the Ma
tonal Wholesale Dry Goods Associa-
ten, the parent organization of the
Jsbbers' Association. Mr.. Cooper evil
IDENTIFY referred to the growing policy
Of some selling agents in guaranteeing
prices on spring orders.
American cotton mills are doing a
larger export business to all parts of
the world, and will hold much of it if
the proper assistance is forthcoming
IRON the government, the banks and
the merchant marine, according to
Jacques Bramhall, of Amory, Browne
C0. He asserted that the character
Of export trade had shifted from low
end staple goods to the expensive high
gfade, fine yarn merchandise. He cited
ne case OF Imperial chambrays pro-
dueed by his house, which are now
selling IN forty-two foreign markets.
n response to a question, he replied
mat one-third of the mills production
'f 'nis fabric was reserved for for
slgn business and that this amount
vas insufficient to fill the demand.
rom January TO June /, he said. his
company has sold more than 5000
'asss Of ginghams alone in foreign
markets.
The discussion of the silk situation
issTolved mainly around the report of
Mf committee on silk contracts. which
cfltcized the present copy of order
lsea by many manufacturers as too
involved and too one-sided in favor Of
ne seller as against the buyer. John
en-, lWohey' Of the Bentley e. Twohey
Elk company. manufacturers, who
prieily reviewed the silk situation,
suggested that a committee from the
o9gers association meet with the man
order. WY u
Resolution Adopted
Later in the day a general resolution
was brought forward and passed by the
'issoclation urging the mills to CON
slaer the jobbers' manifolds as firm
"oers to be construed fairly and
gsrNed Ss out equitably. Another reso-
u .u"on !S was adopted asking for return
~ Me old time dating of 2-1O April
Ut May l, on deliveries of spring
Inslchandise during December and
January. and of 2-1O October ! or No.
FYsmoer l., on fall deliveries during
sa"e ~ ana July, and that invoices shall
Ie uated concurrently with bills or
aglng' .a;sg This is the result, the jobbers
sadio' OF the heavy financial burden
psiseed psa on the jobbers by reason of the
sa.r'ened terms when thev have to
Yf'end credits TO their customers
.ba Jnuer the short terms prevailing since
lie war. 1t was pointed out. jobbers
nave paid for goods from ninety days
70 'our months before their recent
anu distribution to their own custo-
.. lnat cotton goods are being offered
a. a. piices below actual cost was assert
M r,n npy r H. Storm. of Converse & Co.,
. bo agents, in an address in which
- ~ aoVlsed or the buyers to place orders
nv M. 60 per cent of their requirements
nsoi NV; he dwelt on the hindrances to
n s,;Huuc'ion and the shortage of ma
i;n.nefy ;rn and the difficulties in deliver
,bs goods. Prices of staple goods in
bar. "shds of some sellers, he said.
belon. be dropped from 20 to so per cent
the year. "Diisi'eo early IN
N lneodore H. Price, editor of "Com-
rstce a,site and Finance" in an address in
sn'cn ~. ne attributed much of the nres-
sh a.. business depression to mass nsv-
.ion 81 was strong in his denuncia-
nv" -sta ol the Federal Reserve Banks
;ess.;a .i;a.s'hg policy as means toward
,;ara ;~a'aon' The banks and the fnan-
S' ,ess ne said ain trying to get bust
,cts nien TO accept less for their prod
yba. are are themselves asking more for
A. a. eney have TO sell, namely. credit"
no a.pous 2l5 jobbers, buyers. and sell
agents attended the convention.
commercial Credit