Arizona republican., 1922-05-15
REVIEW Of WEEK
IN LONG STAPLE
COTTON MARKET

Following is the weeks review OF
the long staple cotton market as COM
piled for The Republican by A. A.
Talmage. cotton expert with the New
Bedford, Mass. Standard:
NEW BEDFORD, Mass. May g.
The sharp upturn in prices, coming
as it did without warning, caught
many of the manufacturers una
wares during the past week and as
soon as it was realized a general rise
was really under way, there was more
or less of a scramble in some quar-
ters to secure all the odd lots avail
able still at the old price levels. Buy
ing interest became general very
early in the week. both with regard
TO short cotton and especially so in
the field of extra staple cotton. Mills
that have been quietly collecting a
stock of suitable cotton from the low
priced offerings of the past six weeks
lost no time this week in taking eV-
erything that was offered that was
at all suitable for their style of
work, provided the price was low.
The buying included both high ana
low grades and both short cotton
and long staple. but because of the
comparatively limited offerings from
the South was confined principally
to odd lots of spots and occasional
offerings from the South on an actual
sample basis.
Extra staples were quick to re-
fleet the upturn in the future mar
kets and in most cases all price quo
tatiens were withdrawn early in the
week followed by a boost of one to
three cents a pound in the tentative
offers but with the understanding
that all sales should be subject to
confirmation from the South. 1t was
notable that among the free sellers
were numbered some of the CO.
operative marketing associations in
the South and contrary to the usual
practice, these organizations We're
quoting prices somewhat under
rather than over the general average
of figures from other quarters, but
were limiting their offerings, Of
course, to cotton which they actually
had ON hand and on certain grades
and staple lengths refused to quote
at all because of the exhaustion OF
their stocks of that character.
There was more activity than usual
in middling and strict low middling
staples because some of the mills
normally using strict middling found
the market getting away from them
and were forced to turn to the slight
" lower grades in order to keep
within their price limits, as the gen.
eral level of prices advanced fully
two cents a pound on all extra staple
types and three cents or more on
some of the very long types. Mid
ding, as rule, was available two to
three cents under the price of strict
middling. while strict low could be
had at four to six cents under the
strict middling price. Full inch and
a quarter was said to be anything
but plentiful. while great difficulty
was experienced in getting offerings
of high grade five -sixteenths and bet
ter. and as a. result the price of strict
middling five -sixteenthS went soaring
up to the neighborhood of 40 cents.
There was activity in the shorter
cotton both in New Bedford and in
Boston, but especially in Fail River,
where low and strict low middling
sixteenths to eighths were being
sought III quantity at levels about
even on July. Strict niddling Bos-
ton eighths were quoted yariously at
$50 to ESQ on July with a full style
of inch and sixteenth quoted at $50
TO 450 on and flat sixteenths quoted
at $50 to $50 on, for strict middling.
Middling in these shorter lengths
brought so to 100 points less and
found ready sale.
Pima shared in the rise and
jumped fully two cents pound. All
odd lot offerings at anywhere near
the old price levels were quickly
snapped up, number twos being
bought around 33 cents without any
staple being specified, while number
threes sold at 2952, 80 and 31h cents
as the market advanced. At the close
of the week. 80 cents was offered for
threes and thirty-four for twos, but
the general quotations ran 50 to 33c
for threes, 80 to SIC for twos and 80
to 40c for ones with no special staple
mentioned Sales in some quarters
were estimated as high as 1000 bales
for the week, but the reports pub
Hshed in one of the trade papers
about sales of 10000 bales were char
acterized as ridiculouSly exaggerated.
Egyptians went up along with the
rest and medium grade SAX such as
is used for tire yarn work was quoted
at 80 to ~ cents tariff paid; while
medium grade upperS ranged from
26 to q cents. High grade SAX tar
iff paid ranged from SO cents upward,
but there was no considerable buy
ing interest on Egyptians. apparent
", the exact converse of the case on
Pima.
Sea Islands were offered at 40
cents for choice and Al to 40 cents for
extra choice, while Fancies ranged
from AZ to A cents, with no buying
interest evident in any quarter of the
market. Peruvians are still dormant
and the prices are nominal only.
The mills a a rule are very reluc-
tant 10 meet the new price levels
and although inquiry is very active
and brokers are kept busy submit
ting samples and wiring out bids, the
actual buying slowed up perceptibly
toward the end of the week as price
levels mounted. The general market
as this is written therefore has TO be
based rather on the price quotations
at which cotton is offered than or
the sale levels of a few days ago
and it should be remembered that al
though the following figures are in
dicatiye of present market offerings
there is little actual business being
done at those levels. Based on strict
middling white cotton, cotton classed
as to staple on very high and exact
ing standard of stapling, the prices
are as follows:
Inch and an eighth, % to 80 cents
Inch and three -sixteenths, 81 to 3;
cents.
Inch and a quarter. 81 to So cents
Il 8 L