New-York tribune., 1922-11-05
New England Mills
Booked Far Ahead
On Cotton Goods
More Orders Than at ANY
Time Since Pre- War
B o o M; Transportation
Difficulties More Acute
speosel ptspasen to rhs rr.nnas

NEW BEDFORD, Mass, Nov. 4.~-The
hesitancy Of mill men to take orders
involving extensive commitments has
tended this week to emphasize the
scope of the orders the cotton manu-
featuring plants now have on their
DOCKS. The mills are now we'll filed
up on their orders-more 30 than at
any time since the postwar boom.
trading In all markets this week has
been sound, but along modified lines,
Wlthout any outstanding DEVELOPMENT
except In the influence welded bv the
advance In cotton prices. With cotton
huctuating around tho 25-cent mark,
amidst mild fluctuations, the sentiment
IN the industry has been to watch what
is going to- happen. Spot cotton has
furnished the chief interest In the cot
ton market, rs the transportation diff
cultles ioomed up as more acute this
week because Of the embargo declared
by the New Haven Railroad.
Available cotton stocks in New Eng
land are low and have been low for
months. Warehouse men admit there
Is less cotton in storage here than for
several years. Previous to the railroad
strike the buying was meeting immedi-
ate needs. Since the railroad strike
the cotton receipts in New England
nave fallen to pitifully small amount.
Less than half the cotton received in
September and October Of the same
period last season has been received in
New Bedford. Figures for October are
available as yet only for New Bedford,
where $4,000 bales were received, IS
against $4,000 for 1921. The September
and October total In New Bedford this
year is 22,2e0 and 54,s15 for 1921.
Shipments in cotton which were
started at the outset Of the present sea-
son are still en- route. One broker re-
ported ne was awaiting cotton that had
been shipped in August. Numerous
mills have cotton which has been on
the road two months. While this alt
uation prevails, the consumption Of the
mills has Jumped tremendously because
OF the, increased activity. Spots this
week have brought a cent premium
over future offerings, which have been
generally neglected by the mills. The
entir cotton situation Is the cause of
Market talk Of 30-cent cot
ton is common. Much Of this seems to
be hysteria, though the general dispo-
sltion is to recognize the fact that
high-priced cotton has come to stay.
Fall River was again more active in
the cloth trading. The estimated sales
of 100000 pieces Of print cloth are et
the sams strong levels of the past six
weeks. Interest In wide goods was-sup-
planted by buying Of 36-inch cloth.
Manufacturers continue very firm with
prices and no effort has been made to
break the established levels.
The most satisfaction among the New
Bedford industry now emanates from
the yarn mills. Both carded and
combed yarns have advanced this week
on a steady and general betterment in
the sales. Yarn mills have been much
slower to register recovery than cloth
mills, and have been the cause of un-
usual anxiety. Yarn orders are now
pretty we'll filed, and the worst in
f1uence of the destructive southern
competition in yarns, the direct result
Of extensive overproduction In the
South, is believed to have been over
come. The raw cotton advance forced
much buying among those who had
held off because they thought yarns
were weak. Throughout all finished
goods markets the buyers are not pre-
senting any effective interference with
price strengthening. Where sales are
not transacted, it is because the buyer
hopes to pick up odd lots on the old
prices rather than from any belief the
new levels will not hold.
The mill share market has been |
active for several weeks on the basis /
If reported prospective extra dividends. |
Advances have been as high as 30 |
points In New Bedford, while every |
stock has gained to some degree.