New-York tribune., 1922-03-26
Deadlock TisIntens
In y e W England
Cotton Mill Trade
spcctoi Dspatcl to The Yrlbote

NEW BEDFORD, Mass, March %
ASIDE from lttle more activity in the
finished goods market the deadlock in
the cotton manufacturing industry this
week has been tlghteued still more.
Buying in all markets is restricted TO
point almost unprecedcdented in the
cotton industry. while the weeks de
veiopmcnt in the wage issue apparently
mas extended the area OF the strike to
include Lawrence
with the situation remaining un-
changed in the strike area Of Rhode
Island, interest has turned this week to
Lawrence, where the Pacific Mills have
cut wages 20 per cent, the Everett Mills
nave announced wage revision and
the Arlington Mills have been closed
Tor an indefinite period. The inaugural
ton Of the reduction in Lawrence has
revived talk Of i reduction in New Bed
ford and FAN River.
MARKET talk places New Bedford as
the netN place where a reduction move
Will be made Mill officials DENY that
tAey Plan amy such step. however. But
enc thing is certain. the Rhode Island
situation has been dcadlorked so long
rs to greatly discount the prospects Of
the malls there being able to pave the
way 10 a general reduction without as
Slstance from Massachusetts mills
with trade at an absolute standstjlI
the manufacturers are BECOMING more
and more impatient, and talk of cut
here or IN Fall River cannot be said to
be without foundation.
Fall River and New Bedford have so
lar proved the backbone Of the fnan-
cla support given the Amalpamated
Textile Workers in the Pawtu2et Val.
!eN and the United Textile Workers in
the blackstone Valley. Through a wage
cut IN fAIi River and New Bedford. it
IS pointed out. these cities would have
TO withdraw support to Rhode Island.
without which, it is contended, the
the strikes there would collapse.
Continue Curtailment
Meantime, the New Bedford mills
continue their policy of curtailment
The Passalc and the Dartmouth have
this week given notice of curtaiment
in parts Of their mills These mills
have rather significant features that
attract attention i'm the reduction Of
output. The Passaic, as n tire fabric
mill, was the most severely hit by the
depression, and the renewal of some
activity there had been interpreted as
good omen. The Dartmouth has been
one Of the few mills that has run full
capacity through the depression and in
1921 it had a dividend date Of 3 per
cent
There are varying estimates Of the
extent to which Fall River and New
Bedford mills have curtailed. A con-
sentative figure would be that the mills
arc operating from 30 to - per cent
of normal.
The estimated sales Of print cloth in
Fall River for the week are 10000
pieces. In the New Bedford fine cloth
goods there has been a little better
inquiry, but sales arc IN very small
lots and for immediate delivery only.
Nowhere is there any snap in the
market, and look ahead does not
promise anything to give the trade
heart, Cotton yarns are included
among the dull lists Prices in practi-
cally all finished goods remain the
same. The mills can see only reduc-
Oon in production costs as justifying
their meeting lower offers. and. with
cotton higher than II was several weeks
ago, cannot see whore this is possible
except as q wage concession. Cotton
has dropped JIM price. but it has not
produced any business I he New Bed
ford and Fall River mills viii not buy
heavily so long a labor troubles over
shadow the mills.
The first of the Fall River mill divi-
dends for the second quarter have been
declared TINS week. The Border City
Mills and the Flint Mills have each de
clared So dividends, and the King Philip
and the Tecumseh $3.50 dividends. The
advent of dividend period finds the mill
stocks very firm in the asking prices,
with virtually no sales recorded
There has been some strengthening
of quotations. but for the most part the
fail River stocks are unchanged New
Bedford Mills have not been so firm.
because they are some distance from
the dividend period and demand has
not been aggressive. City Mill stock
weakened during the week in the ask
ing price to 1870, after being held at 200
Tor many weeks. Grinnel asking price
IS down to 1917, Whitman bid price
Strengthcned ~ points to 1875 and
NaShawena IS offered at 1875, the re
cent oid pmce of 1929 being with