New-York tribune., 1922-05-14
Divergent Factors
Rule New England
Cotton Mill Trade
Fall River Print Cloth Sales
Again at 25O,OO0 Pieces,
but Fine Goods and Yarn
Markets Are at StandstiI,

SpcciNt DiSpdfcN TO J'lc IrlbitNs
NEW BEDFORD, Mass. May Ia
Contradictory conditions ruled the
markets in the cotton manufacturing
industry this week. Whereas Fall
River had it's second consecutive week
Of sales Of print cloth totalling 100000
pieces and interest in the raw cotton
market was more pronounced, the fine
goods and yarn markets of New Bed
ford were virtually at a standstil.
Trade circles We're somewhat per
picked by the inactivity in the fine
cloths especially. Yarns have been
known 10 have certain handicaps to
overcome because of the piling up of
stock indiscriminateIy by Southern
mills despite the tagging consumption.
The lack Of inquiry Tor finished goods
ford mills from active participation
in the raw cotton market Extra
staples were in greater demand than
last week. Sales dragged behind in
quiry, especially toward the close Of
the week, when many owners Of cotton
would consider nothing short of from
three to five cents above the levels on
which actual trading was done
In the print cloth market. the de
mand was general. Twills and sateens
were IN greatest favor. The mills have
restricted deliveries TO the end OF
June. Buyers have been persistent in
inquiries for July and August, bur
have had to accept the best offerings
available.
All cloth markets predic. higher
prices. Print cloths. fine goods and
yarns each gained i'll quotations this
week to some extent, but far below
The advance in raw cotton. The diff
ference is shown in a comparison with
last year. Raw cotton is now about
so per cent higher than the same time
in 1921. Finished goods in some in
stances are only Is per cent higher.
where the general price advance is not
more than 20 to 25 per cent.
The advance in the cotton market is
rot based entirely upon conditions re-
instead 1t is pronounced a weather
market, in which the prediction Of an
other short crop is made. But the
trade is more hopeful than at any time
tor more than year, and is becoming
hrmer every day. The trading is re-
markably spotted. Some mills are
getting such a demand for certain
goods they are obliged to operate that
part of the mill working On these
goods overtime, whereas other ma |
chinery in the mill is running only |
part time. This holds true OF the tire |
fabric mills.
Taken as whole, they have not re |
vived as much for the seasonal busi- |
ness this spring as had been expected. |
Yet some widths Of fabrics are sur !
passing ordinary seasonal demands. |
The decline of the Fail River mill |
dividends for the second quarter by |
nearly 40 per cent of that of the first |
quarter has caused considerable com
ment as an adverse trend. AS matter
Of fact, the decline generally was not
as great as figures show. This is be-
cause the Union Cotton Manufacturinr
Company declared a special dividend |
OF $3b share, accrued from Liberty |
bond holdings. The second quarter this t
mill paid only two per cent. The dis
burscment on this mill the first quar-
ter was Sd00,G00; the second quarter
only $4,000. SO this mill alone ac-
counted for all but $6So00 of the de-
crease the second quarter Because of
the continued depression. stockholders
have been inclined to look with salts
faction upon the payments The pay
ments this quarter have gone long
way IN oblitcrating extra dividends
from memories as completely as they
mad long ago been eliminated in
Mill shares felt the activity in the
l.
ouslg. Several New Bedford stocks
were advanced in both bid and asked
prices. Dartmouth common was the
feature IN the advance, The iive-point
Jump this week following one of sinti-
lar size last week. The bid price is
now 265, with the asking at Pa Grin
mel also gained five points, it now be-
ing 1875 in tho bid and l4o in the
asking. Fall River has not advanced h
as much, because the dividend period
has just passed. Yet buyers were
moro willing to meet the price ideas
OF holders Of Fall River stock than
they had been before. In neither city
is there an aggressive demand, but
carefully selected buying is going for
ward wherever any stock can be found
at attractive price.
London Money Market
LONDON, May 49, Bar gold was
~ Il