The New York herald., 1922-07-09
TRADE REVIEW AND
BUSINESS OUTLOOK
Textile Prices Generally Held
to Firm Tendency During
the Last Week.

Despite the holidays and the inven-
tory season which combined to check
activity. signs of improvement in the
primary textile trades continued last
week. Prices were generally firm at the
levels established in preceding weeks.
cottons and raw silk.
Notwithstanding the recent rainy
weather. retail distribution continued at
an encouraging pace. largely due to at
tractive prices. The fact that tho higher
prices In primary markets soon will be-
gin to be reflected in finished products
Is subject which is perplexinE mer-
chants at this time. Retail merchants
are not taking kindly to advanced
values. believing that any enhancement
In prices at this moment might be
detrimental to business.
The gray goods market was rather
unsettled as result of an erratic raw
cotton market, although quotations on
leading descriptions registered addi-
tionaI advances. The semi annual In
ventory period and reluctance on the
part Of buyers to trade at prevailing
prices operated to curtail activity. Sea-
sonal lines Of finished cotton goods
moved readily but other descriptions
were In light demand. Business in per-
Gales continued to make satisfactory
progress. while more interest was dis
played in ginghams.
Heightened activity and ascending
prices In the Yokohama raw silk market
over the holidays produced a decidedly
stiffening tendency In prices in the local
market. a good demand for coarse sizes
of every description continued. with the
supply rather limited The broad silk
division again displayed marked i'm
provement and retailers appeared more
willing to commit themselves beyond
Just their Immediate wants. Crepes con-
tinued to enjoy popular demand.
Wool Prices Steady.
The raw wool situation showed little
change. with prices holding fairly steady
There was still noticeable absence Of
buying power. manufacturers apparently
taking little interest in the market. Slow
but sure progress continued to char
acterize the woclen and worsted goods
division. The trade Is confident of a
good season ahead In view of the favor
able volume of business being booked by
garment statesmen visiting retail mer-
chants. In the dress goods department
more business was placed by retailers
with Jobbers for the fall months. At
American Woolen Company because this
potent factor is expected to take action
this month on the opening OF prices for
spring on mems wear and other goods.
Belief in mill and selling circles is that
higher prices will be named.
With the wants OF manufacturing fur
riers in the immediate future fairly well
covered. activity in the raw fur and
skin market again was curtailed. Prices
generally ruled Arm on several desir-
able articles because Of a small sup
ply on hand. Dealers anticipate an
increased demand in the next few
weeks. as furriers are expected to enter
the market for fur for the fall season
Furriers are doing a small business,
since most retailers have covered their
requirements for the regular August
sales period. The decision last week
to drop the claim of royalties for the
use of the trade name Hudson Sear'
was source Of great comfort to tho
fur trade in general.
The fall season was opened last week
In the cloak. suit. dress And allied trades.
The usual influx of buyers Is expected
to appear in the market this month to
look over the new lines. Statesmen who
are already on the road are meeting
with fair success and are finding retail
clothing trade appreciable progress was
made. Representatives. are sending In
a fair and steady volume OF orders.
Labor Dispute settled.
An amicable settlement OF the dispute
between members OF the Cloak. suit and
Skirt Manufacturers Protective Associa-
tion and the International Ladies Gar
ment Workers Union was reached. II
was tentatively decided to reaffirm the
conditions In the old agreement and to
have joint commission make thor
ough investigation OF conditions in the
industry.
Conditions in the New England tex
tile strike districts remained about the
same. with mills reporting n slight gain
In employment.
The Lowell. Mass. district seems 70
be on the verge Of another strike. An
nouncement by prominent rnanufac-
turer that wages would be reduced to-
morrow brought forth the declaration
by the president Of the Lowell Textile
Council OF the United Textile Workers
Of America that a strike will be declared
in every mill which reduces.
Evidence OF Improvement In general
business is seen In statistics on business
troubles The number Of failures in the
second quarter of this year declined
about 22 per cent. from the preceding
period, while there was a contraction Of
more than rs per cent. In the amount OF
liabilities involved Defaults in June
marked the smallest total since last
October. while the Indebtedness was the
smallest since last September.
Duns and Brodstrcot's reviews report
business on the up grade. although the
holidays, inventory and the railroad
strike have tended to quiet trading down.
Both note hesitancy on the part Of mer-,
chants to poy advanced prices on tsx-1
tiles In fear that buyers may strike.