New-York tribune., 1922-04-02
Cotton Mill Trade
In New England
Continues Slump
Curtaiiment Is Gaining in
Ne" Bedford and Fall
River; Finished Goods in
Hopeless Price Position
s"ee'"' D.SpGtch to Tie Tribune

NEW BEDFORD. Mass. Anvil f
ME finished goods and raw cotton
MARKETS nave gone even deeper in The
PUa%h'fe thIs wce.,, carrying Yyicr
:.efe;s down with t!.em. curtallnent
~ =, lHe mli!s Of New Bedford and Fsll
I've; las extended rapidly. The cur.
'%.!'i'eh1 movement, outside @he strike
eu''et0h a-d the wage issues iivolveG
Vhefelh, mas proved The feature Of thi,
weeks Developments IN The cotton ,nar' '.1-9
ufactuTne Industry Of New Enelard
instead Of easing oT AS ned Leer
nope" ,or, curtailmeat has effected
some mills that had been y,rtusilv
immune during the Stages O. the de-
p:esslon. IN New Bedford. one est;-
nate - that the mills are not oper..
lng or w!!at might be Considered q
lhree-Qa.' q Week basis Tie nrey.nt
we" j: t:"t cu"ta-lmcn. will increase
'%tc7sivc'J both here and in Fel! Rive,
"!ohln lhc next few weeks. There has
:'-so been curtailment i'll Ehode Island
IN nails unaffected ~ The strike; also
Connecticut
t:Xcep ttor Il rprnirow syealnyill,- I
Except Tor narrow print Cloths A.
3sheo goods found themselves IN hone.
less pr!ce situations duying The week.
ruie goods and yarns ed the decline.
"loe prints succeeded for the most
par1 IN maintaining their price posi-
tlon Of last week. There was absolute
~ 10 activity m yarns. The weakness
O. the market as a whole has DESTROYED
the va lUe of price quotations. Inouiry
-or prices hE cloth brokers flnds the
MI! n1en extremely cautious over com
o':tl.rg themselves. Before they will
ta!H, the mills want TO know what js
pehlAd the lnQUoiry. Its origin AID tie
n I :
sired is small, the mills avoid anv
quotation that would commit them TO
-oW Levels. The declines in fine goods
and yarns 90 not reject DECREASES or
2 basis Of value test Instead they
have been the result Of an utter lach,
OF demand. The volume of trade in
either case has been too small 20 in.
dicate what prices might De it anv
buying should dcvelop. Print cloth
sales IN Fall River were estimated at
$4,000 pieces.
The yarn stocks are reported IS to-
tallng the largest of any Of the cloth
SURPRISES. This situation has been
accentustsd by the policy pursued by
thc Sothern mills which for months
seemed determined TO trn out goods
without much regard for prices. 'rhe
mills are Carrying these and buyers
the burden.
The raw cotton market was in the
worst state by far that it has been
the present cotton season. rices pre-
sented constant puzzle. Here and
there mills bought cotton, but only
the mercst shadow of what is normally
required, And such sales as were
made covered only small lots. dist
trcssco cotton that the mills could get
at quotations far below the Offering
levels.
Some idea Of the usclessness Of
values can be obtained by the fact tha
ono New Bedford mill bought one lot
Of inch and an eighth cotton and on.
OF inch and quarter inch cotton. both
IN the same grade, for tho same price
Still. the South vas OF inclined to
quote lower levels, except as weakened
financing position forced sacrifice.
The Pilgrim Mill passed its dividend
the last week, The first Fall River cor
poration to do so the second quarter
In the four previous quarters the Pill
grim mill has paid 2 per cent div
ldcnds. Tho Ancona mills declared a
TiyriGC-I ri Cf | Ia