New-York tribune., 1922-06-04
Cotton Mill Trade
LifeIess: Quotations
Mainly Unchanged
Industry Taking a More
Serious View Of Disparity
Between Prices Of Cloth
and the Raw Product

NEW BEDFORD. Mass. June 81
markets in the cotton manufacturing
industry became lifelsss during the
week, a. the raw cotton marie, con.
'inued IN its turbulent state. Prices
established new highs IN some finished
goods and In some types q raw cot
ton. but as a whole quotations were
unchanged.
Trading was confined through the
combination ~ the holiday and the
prospects % having the hrst govern
ment report on the crop condition. A.
the same time, although no particular
reasons are advanced 20 supporf 10, the
mills still cling 70 the hope thar ths
crop outoo knight BE- sufficiently "a
rorable % break the present high mar
ke, The report - 500 per cert on
Friday came too late In the week 20
definitely indicate what the markets
reaction will be. There is some satis.
faction In that, instead Of falling BE-
low the lowest Of the private f0rccasts,
IL was well UP 70 the highest.
The mills are taking a more serious
view than ever Of the disparity be-
tween the new cotton prices and the
new cloth quotations. Finished goods
have not been able % rally any sub
stantial advance. while cotton has ret
ted approximately four-csnt gain.
The margin Of profit Is less now than
month ago, even though n vas then
anything but encouraging. Resistance
70 higher prices is undenisbly strong.
But present indications make them IN.
eyitsble. The efforts 10 reduce wages
have so far proved unsuccessful. ia-
ficting only a loss Of production that
will have % be paid for. II there is %
be no means Of making this up through
raw material. but additional erpendi-
lures are required instead. The Increase
must be passed on % the buyer.
Fall Rivers print cloth market vas
quiet. The sales amounted 20 10000
pieces. Fine goods have interested ia
qniry for a few lines. but nothing %
any volume. Yarns are still in a pre-
carious condition and have been the
least successful in giving an upward
tone 20 the market.
Inch and fye-sixteenth cotton IN the
extra staples established new high
FOR the season. A lot OF this type was
sold for A. cents. Large quantities Of
10 have sold earlier in the season fsr
90 N'HAHf NUT AVHFNf II NfAfnHQ4 nf
lot was the full fye-si1teenths, and in
some quarters would be elsssed ss
inch and three-eighths. Fall River
prints set a new high Of 6ih-inch
56152. 750s.
Mil dividends for New Bedford IA
the second suarter we're the smalles,
stree the war with the Septeieon OF the
first quarter this year. The average
rate was i2.il9. The total disburse-
ments in dividends was fi.lbf.269 on
a capitalization Of S53.sso,o0O The
largest dividend payment vas that Of
Pierce Brothers, Ltd, which paid
per cent, the usual rate The Neild
Mill was the only New Bedford mill %
pay an extra. tha. being -. nsking rs
payment s. for the quarter The Man
omet distributed the largest gross n
paid s. on a capitalization Of 5000
600. The Dartmouth and Waesu,ts
each paid $4,000.
Stock in the New Bedford snd Fall
River mills continues In setive demand.
The advance in prices has been stssdy
for two months. Thirty-hye stocks in
New Bedford show an average increase
of nearly - compared with April I.
They have not reeeded much through
the dividend payments. The Fail River
increase in that period has been be-
tween 50 snd 81. for an average. Some
Of the lower priced stocks have 81
vanced from IS 20 50. in exceptional
eases $40. The investors have resisted
any advance but have indicated their
belief that the present offers q good
time for buying By their aggressive.
ness in picking up anything outside Of
the open market in the way Of barr
gains. Nashavens. which has been one
Of the stocks most In demand for sey-
eral weeks, made another gain Of ~
POINTS this week. in the bid price. Tbs
rev bill IL 1871. Sharp, Qpisett snd
Butler are among the other active New
Bedford mills, while the Davis, K.ng
Philip and Granite are In demand In
Eail River.