The New York herald., 1922-09-24
TRADE REVIEW AND
BUSINESS OUTLOOK
Further Increases in Raw Silk
and Gray Goods Prices In
Last Week.
SEE PERIOD OF INITIATION
Textile Men Say Belief Is
Growing That Quotations
Will Continue Rise.

Strengthening OF prices again char
acterized the primary textile markets
last week. Rapid price advances con-
tnued 10 feature the raw silk market,
while there was another small gain In
cotton goods quotations. In the raw
wool and fur markets values showed
greater strength and indications were
strong that prices will climb to higher
levels. Trading In all the primary mar
kets seemed to be in larger volume than
for several months. indicating increas-
ing confidence among the trades.
The belief Is growing that the textile
industry is at the beginning of another
period of imitation. Higher prices for raw
materials and the recent wage advances
throughout the country have tended to
give credence to this belief.
What effect further price advances
will have on the buying temper of the
trade is a topic of speculation. Price
advances made within recent weeks have
been stubbornly resisted, notwithstand-
ing the fact that much business booked
In recent months is said to show an ex-
tremely small profit and that sizable
portion OF 1t resulted in actual loss to
mills and manufacturers booking 1t.
Sellers appear to have reached the stage
where they are willing 10 suffer a de-
cline in business so long as they receive
a margin of profit on the goods sold.
The new tariff which has been put into
effect is not just what the textile trade
hoped for, but as the new law stands
now it eliminates the menace of foreign
textile invasion for at least three years,
according to factors.
a continued stiffening OF quotations
and much broader trading featured the
gray goods market last week. Convert
ers' stocks are said to be at a low ebb
and the converters have begun 10 place
orders in n rather free fashion. Mills.
however. are not desirous of selling too
far ahead because conditions in the pri-
mary market warrant cautious selling
policy.
The finished goods trade was surprised
when one Of the leading percale houses
replaced it's lines at the old prices. The
trade believed that the new prices would
be higher, rejecting increased costs or
raw material
The gingham market continued quiet.
with prices fer next spring still un-
named.
and pillow cases are in better demand.
Demand for mems wooden and worsted
fabrics for fall has improved encour-
as1ngly in the last week. The tailoring
and Nclothing trades are beginning to
order beyond just their exact require
ments. The women's wear division also
displayed a more enlivened condition.
The market for spring woolens and
worsteds continued rather quiet, with
demand AltbnlUh fba q
ducers are booked as far ahead as they
care to be on certain fabrics and have
Withdrawn them from the market. busi-
ness in the other lines Is not what might
be desired.
Garment manufacturers for the most
part have not contracted for enough
goods to carry them through substan-
tal part of the season. and the wooden
trade is confident that a good business
will be done.
Although dress goods mills are speed
ing up production the avid demand for
the narrow goods is still far from being
satisfied. Poiret twills and fine French
serges are in strong demand, while the
call for all wool crepes continues brisk.
Advances. ranging from ~ to 10 per
cent. over previous quotations. on all
lines or staple worsted fabrics of a
prominent mill are expected TO be "a
nounceS this week.
In the raw wool market prices con-
tinued strong while demand has broad
ened perceptiby.
Another sharp advance featured the
Yokohama raw silk market. Trading
broadened considerably. with Ameri-
cans participating actively. The keen
demand for the medium and low grades
and the low supply in dealers hands are
the reasons for the rapid rises.
-fl aIa @tf Il
materially and transactions reached
substantial volumes during the week.
Steady improvement continues to char
acterize the broad silk trade. Mer-
chants are buying rather heavily. indi-
eating a condition of light stocks. Crepes
are holding their popularity Spring
business is progressing in an encourage
ing manner and 1t is believed that the
demand will bear on other fabrics be-
sides crepes. Prices on finished goods,
manufacturers assert. do not leave them
a fair margin Of profit.
Business in the fur trade continued 70
gain steadily. Retailers are doing a
good business in chokers as we'll as in
fur garments. The steady consumer de-
mand seems to have nstilled new confi-
dence into retailers. for they have dis
csrded their piecemeal buying policy
and are now placing orders To cover
their requirements Tor some time aneau
As result OF this renewed buying both
wholesalers and manufacturers are doing
better business.
The raw fur market Is more active
and prices are showing considerable
strength. II Is stil difficult TO obtain
substantial quantities Of certain skins.
particularly dyed muslSrat raccoon and
skunk The trade is viewing with con-
siderable interest the fur auction which
Is TO be held here this week. The gem
orally firm prices which ruled at the
recent sale i'm Montreal strengthen the
belief that values at the local auction
VIII rule probably higher.
Fall apparel trading stlll In quiet AL
though confident of a good demand later
on, retailers have not bought as freely
as they might have and manufacturers
expect brisk recorder business as soon
MS consumer demand materialzes. \
slightly better trade IN dresses. skirts
and blouses IL reported by retailers.
Retailers and jobbers throughout the
country purchased more merchandise
from wholesalers and manufacturers
last week than they did IN any week
since April 1920, according TO the
Credit Clearing House. Payments. how
ever, were somewhat slower. while
there was a slight increase In indebted
ness.