New-York tribune., 1922-12-17
Cotton Mill Trade
Continues Dull as
Prices Go Higher
Final Crop Estimate FaiIs
10 Have Any Siimulat.
ing Effect on Activity;
Fall River Sales Small
F5,''1i D1'8ais1 . ~ Tr.as.'


NEW BEDFORD. Moss. Dec. ia
Developments of primary iirportancs
IN the cotton manufacturing Industry
this week have falic 10 ditlodes The
Inertia which has ovsftaken market
tran sactloBs for the last three weeks.
Declarations Of largo cash and stock
dividends have continued, the ina
erob estimate was mede and caused
some un~asiness, but a. no Tine did
these and other events stimulate mar
ket Interest.
Prices in practically al markets are
hiTher. They take Their advance from
the crop shortage. rather than from
any actual test produced by trading in-
ouIry. Cotton and cloth brokers return
10 their ofices with the sane report''
che miii mon are not Interested even
10 the extent Of inquiry. Tho inosS -
the general inactivity . best provided
bv Ike email sales of Fall River prnt
-f,ss estimated for the week at e00v9
- the NOS. part the dull trading i
.egardod a n seasonal condition, Ihia
ouietress Is nov counted upon 70 cor
tipua untll tho new year Ihs Pre-.
toiiasv period distraets attention -
cther channels only slightly less tnah
tho HOLIDAYS themselves u "a 80
Ire ueYiod Of inventories Likewise, tne
mills sh~w no inclination 20 stceh ~
with cotton because OF the oeslts y,
hsvc ANIMAL renorts show % best 40
vs,t.Se The only disturbing fsetor pa
,hs bslief the new year VIII dlspel 70
ternotary dullness IL the raw eotlei,
st.yotion M has already broufnt
h,ol,er cotton and cloth prces. mats,,, mt,
siscies generally talk Of the pfoOao"
lty OF still higher prices. .,..t
sthe Advance on material ana co.,
=, eyeessive, Il ts bound 20 eur..l eor @
ssrptIoa. The result then WI ee 80
~ iraent IA produetlon. ffeoleiion'
tIst are present crop viii create N
sltustlou fercing eonsiderabie idls ne
| ehlnarv certainly have not gene uh
hssded even though The Industry ia
IA eoafidont rigld methods WI prs,'
vent anv serious development o. tAis
nature. prov ded cotton prices 90 not
become extortionate.
.,e~ ~ cotton At five bales for eaeh
four rrown. Bot the practical men N
a.. lodvstfy realize there are methoes
of economy which can oroht-hlv DO
| invoksd ln time OF shortage that aro
not necessary when there 10 go M 20
be an ample surplus. Tbs year ever
serap OF eetton will reach O eonsgmp
live source, and once there u VIII %
nut 70 the most effective use possible.
Theso things will alleviate, at leet',
the necessity Of eurtailmept BY DIS
eournging price eoug ng,
The extra cash and stock ciyidef
movement thls week has cnYeloped the
Gotten textile lneuAtry Of NeS Eng
| land. The notable disbursements Vero
tho 100 per cent stock dividend. recon
mended by the directors. of the Pa
cifle milis Of Lawrence on the pfeaer
ear talizatlon Of 10000 900 and ths
! 900 per cent stock dividends Of ths
New Bedford Cotton Manu'aeturins
/ Company OF the present caDitalixat o.
Of fi.IOO 600. The melon" cutting he-
| furnished the Industry rs cbief a.
eitement. Il has resulted In intense
excitement N the mill share market
whlch has continued this week little
abatod from the hlgh pitch of lait
week 1hcn the orgy of extra dividends
sVent sharo prices up 70 rev level
Not much sentiment has been e..
nrossed as vet among the labor grounf
for demanding w@ge in--~ases outsi4e
tha Un ted Toxtiie Workers. The
wortcrs are not regarded as IN o
noaltion % conduct = strike. and .1l
lie sentiment, unlike she strike
aralnst the reduction thli year, WOULD
not be VIII them,