The New York herald., 1922-03-05
TRADE REVIEW AND
BUSINESS OUTLOOK
Basic Markets and Industries
Improve and Optimism Is
More General.
BUYERS STILL CAUTIOUS
Wholesale and Jobbing Actiy-
ity Gains Slightly-Ad-
vance Business Better.
BUYERS STILL CAUTIOUS

With nearly all basic markets and in
dustries showing well defined areas of
Improvement in the last week, more op-
umism in the general business situation
is evident. Sharp grain advances, easier
money, improved credit situation and at
tempts 10 reduce the cost Of textile pro-
duction have been strong factors In
strengthening confidence. Slightly in
creased activity In wholesale and jobbing
lines is noted for the week. with interest
centered in dress trimmings, laces and
sport silks. Buyers continue to act
cautiously. but q better advance busi-
ness Is coming In from the Middle West.
where improved agricultural conditions
nave made for easier money. Price re-
ductions apparently have reached the
bottom and the movement In many lines
of commodities can be expected TO take
an upward trend.
That generally better outlook Is offset
to degree by labor troubles In the
clothing market and the fur industry,
underwriting OF prices in retail fields.
unsettled strike conditions in the Rhode
Island cotton mills and an unstable silk
market
In the cotton goods market, estimated
sales of print cloths for the week are
given as 10000 pieces. Activities are
described as somewhat quieter than
they We're in the preceding week and
prices generally have held steady and
deliveries are confined to thirty day ad-
vance notice. Narrow fabrics in low
counts are in most demand while little
interest Is displayed in wider goods.
The situation in the piece goods mar
ket might be described as tagging.
Buyers for the most part have returned
TO their homes without placing any con-
siderable amount OF business. The
worsted end OF the business has been
unsatisfactory to date. while the fancy
back overcoating demand has been be-
yond expectations. There is q general
disposition to look for a return OF
serges in April, but buying has been
confined to novelty effects.
Boston Wool Market Buliish.
The bullisb sentiment in the raw wool
market In Poston. however. Is doing
much to create interest among clothing
manufacturers In the possibility Of adj
vanced prices The opinion of men In
the trade regarding the newly formed
organization of mill men, clothiers and
retailers is that its actions viii be toe
much confined TO enable 1t readily TO
function.
After n few days Of activity in the
early part OF the week the raw silk mar
ket, here and in Japan. has settled down
again to inactivity. Reports issued by
the Silk Association OF America on silk
delivered to American mills in February
show drop OF 11,735 bales compared
with January shipments. That decline
reflects the wary attitude OF the trade,
evident all along the limo from the inn
porter to the merchant selling the fin
ished goods. Prices in the local market
have shown q steady decline In the last
week. although Yokohama prices are re-
ported as nonlinally unchanged. Closing
quotations on the Boursc were: March.
1866 yen: April, 1850 yen May. 1855
yen; June, 1850 yen and July, 1850 yen
Trading Is confined to fill-in orders. II IS
becoming increasingly apparent that
lower prices will have TO come.
The local raw fur situation can only
be described as stagnant. Much diff
Guilty besetting the trade appears to
hinge on unwillingness OF dealers TO ex-
tend long term credit to the cutting-up
trade. Manufacturers have had TO keep
their purchases down to absolute needs
and present prospects point to q contin-
uation OF that policy for a considerable
time Announcement of a section strike
against independent manufacturers who
have failed TO sign agreements with the
workers organization, made on Friday
by the Fur Union, has also helped fur
ther to obscure the Sunshine Of pros-
perity in the fur industry.
Knit Goods Improve.
Reports from knit goods dealers be-
gin 10 show Improvement as &uying
for summer gets under way. Light
weight underwear Is selling in good
quantities with prices firm. The silk
hosiery market Is reported as unstable
and prices quoted vary considerably, de-
pending on prices paid for raw silk.
Buying Is for immediate needs only. The
ribbon market Is again on firm ground
and mill production Is on the increase.
Millinery ribbons arc showing most ac-
tivity.
Perhaps the darkest cloud on tho
horizon Is lowering over the clothing in
dustry. The retail clothing business IL
frankly admitted 10 be dull. The few
buyers in the market seek fall merchan-
disc at January sale prices on a basis
of the lowest marlsdown IN recent years.
A quick settlement may be looked for In
the clothing controversy in Rochester.
Both sides are now convinced that lower
prices must result IL merchandise il to
be sold. The feeling OF cooperation ap-
parent between employers and employ
ees VIII make for quick adjustment and
the feeling that when that difficulty Is
settled definitely tho textile business
will improve Ia substantial way in
general.
The notion business IS mostly in nov
elites. Retailers are buvinR staples very
carefully and liquidating everything pos