New-York tribune., 1922-10-22
Cotton Mill Trade
In New England
Continues Active
Advance Inn Raw Product
Stimulates Buying Of F:n-
ished Goods; Fall River
Sales Are 200, 900 Pieces
sp.e.e, t2..patcA 60 no sryev~s

"a NEW BEDFORD, MasB., Oct. Sls-~-
Conditions have altered broadly In the
cotton manufacturing industry the past
waek. Tho sharp advance In raw cotton
created extensive change In all
branches. but the direct stimulus TO
buying was felt moro In the finished
goods than In sales Of raw material TO
the mills.
Fall River had estimated sales Of
print cloth Of 100000 pieces. The de-
inand was active in all conseroctlons.
Buying has gone forward in Fall River
and New Bedford without any serious
has been especially true since the set
Element Of The New England strike rs~
moved all prospect of lower prices
through lower wages. Whatever tncii-
nation there may have been In tho aast
ten day. to allow previous order to
carry needs for the time being was
more than Offset by the threat Of suD-
stantially highes cloth prices from the
cotton advance this week.
But beyond any mornencary deter
-ents which may still exist, such as
impaired transportation, renssnrlng
confidence dominates the .industry m",i
and higher prices are the rule. Fail
price levels--and these on tobacco
cloths have been iarge-hnve reached
their full force. What is true OF the
print situation IL true OF the tir'r
goods in centers like New Bedford. Tho
only difference Is that Fall River is
blazing the way, as always 10 the case.
in price fluctuations.
Most of the fine goods buying has
been In small lots. This has been the
prevailing market buying for an ex-
tended time, and there Is some dtsposl-
ton among the trade TO believe order RS
will never reach, the size unit tnaS
was known years back.
Inventories would probably show
New Bedford mills TO be carrying the
lowest stocks OF cotton and cloth at
any time within the last several years:
The cloth has been cleaned up and
orders are ahead two months. De!1v-
cries running too far into the future
are being held for premiums OF quar-
ter Of o cent Only production on a
basis unknown for two years can meet
the orders that empty shelves cannot
supply. =
best revealed by che amazingly snaii
amount received In New England IN
September. Only 10000 bales came in
then, against $4,000 in 1921 and S4,ooo
the peak year Of 1918. The transporta-
ton difficulties have aggravated H. m
deed, they have not been the chlef cause
Of the small shipments. Though opera
tions were fairly steady the last eight
months, arrivals preceding September
had been below normal.
Cotton did not figure In any remark
able buying movement this week BE-
cause Of the price advance: Extra
staples did noe experience an increase
in proportion to basis cotton. Fall
River was reported more active In pur,,
chasing short cotton than New Bedford
Of staples. But the interest was active
directed at attempts to buy small lots
below market prices. Spots are well
bought up. The New England mills
refuse TO meet staple prices, but the
South consents TO sale only on ris'
ing market. The next ewo weeks
should develop the test OF asreng,n
which will break to some extent sne
deadlock now prevailing.
Mill shares have lost no oppor,u,
outlook. The buying movement Of last
week in New Bedford and Fall RlveH
receded this week, as holders of stock
haeame more reluctant to sell even on
advance bidding. The share excitement
Mas been accentuated by rumors that
other mills are to follow the example
of't Of the ousssets Of New Bedford and
declare large extra dividends. Kilburn
has featured the advance, adding 25
points this week and making record
For the mill Of 800. A year ago 1t was
zoo. Final dividends for 1922 are nov
being declared by New Bedford and
Falf River mills. All are maintaining
the average Of previous quarters.