New-York tribune., 1921-10-23
Cotton Spinning
Industry Waiting
On Labor Crisis
Trade Unwilling TO Under
take New Commitments
Until the Air Is Cleared:
Advances in Mill Stocks
Special Dispatch to The Tribune

NEW BEDFORD, Mass, Oct o.
With the threatened railroad strike
overshadowing the country buyers in
the cotton industry has been held in
abeyancc on an extended scale the past
week This condition has applied to
all ines Of the industry, trading in
raw material being light, cloth sales
restricted and prices generally sub
stantially lower.
This situation does not reflect undue
apprehension among the manufacturers
over the possibility OF a strike. The
sentiment is overwhelmingly OF the
opinion that there will be no strike.
This is borne out by the fact that the
manufacturers--in New Bedford at
least-have formulated no plans to
cope with any such emergency as
rail tie-up would entail. But st the
same. time news Of this nature is Of
itself disquieting, and on all sides
there is an unwillingness to go ahead
on commitments OF any value until
some definite knowledge of what the
future holds can be obtained
That New Bedford has made no plans
ment made by Clarence r. O'Brien. su-
perintendent of the New Bedford Stor-
age Warehouse Company, which COM
panv also controls the large state pier
He declared that water transportation
of sufficient amount could be supplied
within twenty-four hours. By this
means cotton supplies could be OBJ
tanned, although the marketing of
finished goods would, in his opinion, be
so restricted as to quickly check de-
mand for raw materials by the mills
Fall River would also be in a similar
position. Take as a whole, the textile
industry could rely upon water trans
portation better than industries in
other parts OF the country
The declaration Of dividends by Fall
River mills has attracted the greatest
interest and created the most optimism
in the otherwise listless week. The
quarterly rates held up on par with
the last quarter During the week the
Stafford Mills, the Barnard Manufac-
turing Company, the Lincoln and Mar
ragansett have each declared per
cent dividends: the Stevens Manufac-
turing Company 2ia per cent, the Davis
"a per cent and the Shove and the
American Linen each / per cent The
Barnard dividend is equivalent to per
cent IN view OF Cne stocH OlV}dend re-
Gently paid. The New Bedford mills
have not begun to declare their divi-
derds for this quarter.
The proximity Of the dividend period
has been an influence in advancing the
price of mill stock. Still New Bedford
mills have figured III the advance TO
the same extent that Fall River stock
has The Barnard, Charlton and King
Philip mills in Fall River have each
advanced 21s points; the Lincoln and
tho Granite, s points; the Davis, 2;
yhile the Osborn has declined points.
In New Bedford the Beacon preferred
has advanced points in the asking
price, while the Booth common has been
raised ~ points in the asking price
the Kilburn having dropped 10 points in
the asking price. The Pierce Manufac-
turing Company stock took jump OF
20 points in the bid price. the offering
quotation now being $50 This is still
20 points below the asking price, which
has remained at $50 over an extended
period, topping ali New Bedford quota
tions. Dartmouth common has ad-
vanced points in bid quotations. while
the Gosuold mills have added 21s
points. the Mancmet points and the
Nashawena l n points.