The New York herald., 1922-03-12
TRADE REVIEW AND
BUSINESS OUTLOOK
Few Markets Reactionary, but
Mono Wcak-Activity Has
Not Increased.
PRIMARY TEXTILES QUIET
New England Labor Troubles
Still Hold Down Output
Of Mills.

A glance at trade activities OF last
week reveals very slight changes COM
pared with those of the preceding week.
although few OF last weeks markets
we're reactionary. Nona however.
showed great weakness.
The local primary textile markets are
ouiescent. but those of the South and
the middle West indicate great deal
more buying confidence. Labor troables
in New England stIll make for greatly
curtailed production The piece goods
IN the trade are pessimistc as TO the
outlook. Better conditions in the West
and settlement OF the wage controversy
In the Chicago and Rochester clothing
markets is expected to remove the block
In the path OF business progress. The
American Wooden Company's report.
showing net profits of $e.192.621. was
the outstanding feature OF an otherwise
dull market. The silk trade apparently
Is suffering another OF its periodical
slumps and the Yokohama Boursc and
the local market are In sharp contest
over prices. The demand for silk piece
goods is reported 10 have fallen off.
From the wholesale and retail view
point the situation shows signs of re-
newed life. Statesmen report receipt of
better orders from the South and the
West indicating slow but gradual re-
covcry I'm call for staple and standard
goods. The Improvement in volume
business done. however. Is somewhat
offset by the fact that demand Is still
for spot and nearby delivery. with little
and sport fabrics in all lines OF cottons.
woolens. silks and linens in new style
creations compose the bulk OF the busi-
ness done. Merchants find IL necessary
20 give quick shipment on receipt OF
orders and although that phase of dis
tribution Is the cause of much complaint
II Is feature Of the marketing that bids
fair to hold for a considerable time.
Mail order houses report an increased
volume OF business.
Gray Goods Demand SIumps.
An unexplainablc feature in the pri-
mary markets OF last week was the
slump in gray goods demand. Trading
was generally light and consisted prn-
cipaIly of small scattered sales of spot
and nearby print cloths. The Fall River
market was less active. Its total sales
for the week being estimated at about
100, 900 pieces. Production is said to
have exceeded sales to certain extent
end the curtailment policy Is still being
pursued.
The local raw silk market can see no
cause for congratulation In the general
silk situation and. after taking every
thing into consideration. the general
opinion Is that the future trend Of raw
silk prices Is merely a guess. Actual
btisi iness done was restricted TO inme-
date needs and. in general. the trade
marked time. The broad silk interests
are plainly worried and 1t is apparent
that they do not intend to operate until
they can depend on greater stability
Local prices have shown a downward
tendency, buying has been spotty and
lack OF confidence generally has marked
the attitude OF holders and buyers. De-
velopments in Washington on the basic
rate for the silk schedule In the new
tariff bill resulted In agreements on
specific duties In the Fordney bill. pro-
vision for the catch all clause OF 40 per
cent. and agreement that no duty should
BE- less than the equivalent OF SIS per
cent. ad valorem.
The week brought very little change
In the fancy worsted piece goods situa-
tion. There Is well defined feeling In
the trade that the public wants wor-
steds but Is unwilling TO pay their price.
The chaos in the Chicago and Rochester
markets Is believed 10 be the basic rea-
son for existing conditions, and X any
thing like a settlement favorable TO the
manufacturers be put through. price adj
vances may be expected TO develop soon.
Meanwhile more mills are shutting
down. A bullish factor. which furnishes
a good background for better develop
L. af