New-York tribune., 1921-12-25
Steady Advances
LIN Cotton Goods
Feature at Mills
Improved Outlook Demon.
strated Despite Unsettling
Influence of Final Gov
ernment Crop Report
Special Dispatch to The Tribune


NEW BEDFORD, Mass, Dec. "a
Persistent advances in the price of
cotton within the last two weeks in the
face Of the unscttling influence of the
final government crop estimate have di-
rected the attention of the industry
to the real strength of cotton lines at
present, which is pointed to as indicat-
ing only one result, and that is highe er
prices in finished goods.
This week gave the cotton market its
first opportunity to proceed upon ac-
tual conditions, free from the specula-
tive element that the variable crop re
ports nourished so freely. The week
was the most active in several weeks
Inquiry led in the market, but it was
backed with an interest entirely differ
ent from the casual curiosity to keep
in touch with the market, such as con-
stituted a large part of the inquiry
previously, and it left the trade in a
most optimistic frame of mind. Sales
were more in evidence, too. These did
not partake of volume transactions,
but fair-sized sales were most nulrer-
Gus.
The entire influence was to raise
prices. The advance was from one to
three cents pound. The increase
was greatest on extra staples cotton
brought on by the greater attention
that is being paid to the better grades
in New Bedford and other centers max
ing the finer goods. Sales we're ac-
tually made on extra staples at the
new levels to mills that the week be-
fore would not consider much lower
prices. One of these was of inch and
fve-siXtcenths cotton at al cents to
the same mill that a week before re-
fused to pay more than cents. More
credence has been given to reports
from the South that the extra staples
crop is particularly short this year,
and this has brought many into the
market.
While the finished gods markets has
proceeded more quietly, not differing
essentially from the moderate trading
of recent weeks, prices have held
firmly. This resistance against lower
levels is linked with increased prices
for cotton and the general belief that
cotton consumption will continue on
its enlagred scale for sone months to
come as making higher cloth prices in
cvitable. Fall River reported a brisk
business in various lines of print cloth
during the week, the business in gen
"ral showing some improvements The
finer gods in New Bedford were more
affected by the inclination of convert
crs and retailers to hold off until the
new year.
The approach Of the holidays has un-
doubtedly stayed Improvement on a
broader basis. This condition is bound
to be accentuated through the coming
week, and the remaining days of the
year are not looked to for producing
much business.
Several Fall River mills have de-
clared their dividends already for the
first quarter Of the new dividend year
The rates are generally the same as
were declared for the fourth quarter
and for most of all four quarters Of
the previous year. The Flint mills
have declared 9 per cent dividend;
the Osborn ] y cents. The Cornell
mills Of Fall River, in declaring their
fourth quarterly dividend of 2 per cent,
also declared az extra dividend of s
per cent.
New Bedford mill dividends for the
final quarter of 1921 amounted to
81 225 .201 90 on a capitalization of
$55,6l8,50O. The total was the smallest
distributed over the four quarters.
The average rate figures at $21s
share for the quarter, compared with
$3.l1 the first quarter; S2.63 the sec
ond, and S244 the third The 1921
rate is far below the high dividend nav
mentS Of 1920