The New York herald., 1922-05-07
TRADE REVIEW AND
BUSINESS OUTLOOK
Broad Movement Spreads, Over
Primary Textile Markets
and Buying Improves.
RAW PRICES ADVANCED
Tariff Legislation Delay and
Labor Unsettlement Still
Hold Back Recovery.

Not for long have primary textile
markets moved as broadly as they did
IN tho last week. They more than held
their own. Improved buying and ad-
vanced prices in unfinished cotton divi-
stons were sustained. Fancy and staple
worsted prices were raised. Yarn mar
l1ets reported increased activity. Raw
silk prices gained. Jobbers received
more orders from retailers and other
divisions of the market gave concrete
evidence of seasonal progress. Prices in
practically all raw materials advanced
and the general spontaneous strength
ening of the markets surprised business
men.
The unfavorabie factors in the weeks
developments were the delay in tariff
legislation. the continued unsettled con-
ditions in the New England mills, a
strike affecting some 10000 workers in
the Rochester shoe factories and the
apparent determination of the New York
garment workers TO cease work on
June /.
OF favorable factors. first In import
ance Is given to the sharp advance in
raw cotton and it's concurrent salutary
reaction on print cloths, sheetings and
other convertibles. Higher prices were
the rule in those fabrics. which caused
considerable buying well into June and
showed tendency to go even further
ahead if mills would sell. The only
apparent hitch to the outlook was the
moderate business in finished cloths
There was slight advance in bleached
cottons, stiffening of gingham prices
and holding of denims for higher
prices. The survey of cotton produc-
tion issued by the Department of Com
merce also had a favorable influence
on the weeks developments and i'm
pressed on the trade the very strong
statistical position of that staple. Cot
ton and worsted yarns consistently i'm
proved. reports of their increased ac-
tfvity being general
OF Importance to wooden trades was
the announcement made by the Ameri-
can Woolen Company of advances aver
aging 10 to 20 cents a yard in all
worsteds. It's action was considered a
forerunner of similar advances to be
made by other producers The advances
were generally considered a good thing
for the market. it being felt that they
would have tendency to stiffen weak
ening tendencies. Serges bettered as
evidenced by increased buying activities
or factors who have persistently re-
mained short of the market. The oues
tion OF whether the increases would
make selling finished goods more difficult
was much mooted one and a diversity
pl opinions was heard. Whatever the
final result may be there is no donht
mat as selling stimulant the rise was
well calculated
SILK Buying Continues spotty.
, The raw silk markets advance was
not reflected in the broad silk market
sn which buying continued decidedly
snotty- In Scranton and Paterson an
attempt made to bring about lower pro-
tuction costs by running longer hours
md adjusting wage scales was made
statistics issued on raw silk supplies in
the principal warehouses of this city
pm May /, showed stocks as lower than
they had been at any time since August
snd 1000 bales lower than the monthly
average for 1921. The trade manifested
interest in the Imperial Raw Silk Syndi-
cate of Japan's announcement of its in
tention to dispose of 1000 bales of it's
holdings month at current prices on
1he Yokohama market. Considering the
silk situation in retrospect, there is un-
cnubtedly better feeling in the trade
sis a whole. despite the prevalence of
prices which makes finished goods selling
ne slow progress of the tariff bill in
me Senate was a general disappointment
"a the trade. Action was again side
tracked by other measures and the week
closed with only two votes having been
teken on certain relatively unimportant
Duties on acetic anhydrides. Actual vot-
ing on textile duties apparently remained
os far away as ever. but there was in
the trade a growing crystalization of
sentiment to make vigorous protestations
against the rates when the textile
schedules should come up for test vota
Sfcolen. cotton and linen factors are
1pposed to the Senate Finance Commit
ices bill and are preparing to be heard
on it..
!. There were several developments In
thc New England textile strike centers.
= ich proved that the situation was
slaching a crucial stage./ Chief in Inn
,iortance was the granting In Rhode ISL
! "a Of three more injunctions enjoining
The strikers from interfering with the
business of the employees of mills af-
fected. The companies were the Dexter
arm Company of PawtuclSet. the Slater
arm Company of Pawtucket and the
United States Finishing Company Of
Providence. Another development of
Importance was the receipt of a compro-
mise offer for a settlement by workers
Of the Plymouth Mills of Lawrence. 1t
was the first settlement offer rendered
since the strike began six weeks ago.
and provided for a modified cut averag
ing approximately 91-3 per cent. Let
ters inviting members of New Hamp-
shire strike committees and manufac-
turers in dispute to attend joint con-
ference with the State Labor Commits
sioner were favorably received. and on
Friday replies from the Great Falls
Manufacturing Company of Somersworth
md the Pacific Mills in Dover stating
s1at they we're willing to meet with their
employees we're sent. The meeting prob
& oily will be held this week.
f: Expect Long shoe strike.
The shoe strike In Rochester promises
20 he long drawn out affair probably
continuing through the summer. The
manufacturers are in strong position
snd there Is little likelihood OF com
promise coming from that quarter.
The fall clothing situation continued
10 occupy considerably OF the trades
attention during the week. Reports from
"a alesmcn showed orders being placed in
fair quantities, but manufacturers were
nos particularly optimistic concerning
the outlook because of advancing prices
~ woolens. There Is every likelihood OF
n sharp clash between fabric sellers and
buyers as the season advances. The
situation I'm the local clothing market
is complicated by the pending labor
trouble, and so far little progress In
reaching conclusion which will enable
them to produce clothing cheaper than