New-York tribune., 1922-05-21
C,otton Mill Trade
Drops as Prices
Continue Upward
r.nufaciurers Feel That
Depressing Selling Levels
Arc Past: See Lower
R,sis for Raw Product

vrv BEDFORD. Mass, May 20.
u, in all the markets OF the cot
i.asr. ...as,nr..a,,.actaring industry diminished
ssa .uk rs.k as tie upward swing of prices
sals al.;,r.d strong. The week broush.
~. .otton prices to practically 1he
ns ,.vel as tha: o. lsat Scptsmbo.'s
~. ..;.<rs4rt. tfe peak oe the tacl ma.
@ ry;ces or finished goods haze not
sssS.....a ~. Il, such sensa .ionai advance.
~ ~ he increase has been steady.
ss IA, Of the present situation the
s.ssnent existence Of q higher price
y.s. for cloth SENS inevisable. Inc
as' .c.an prices force it or tho mills
- -. one erd, white the improvement:
ssS'r '~r.nsrsl business conditions affords
- nsars OF absorbing any increase.
~,s,A ia senle misgiving over too larrc
nm increase in limited period. Some
..st,ors ate. therefore. to be expected
o. tha. the depressing levels Of a
49, ,ranths ago are a t!iiss OF the pass
,,rikes a reassuring note with the
Ms while the sellers and consumers
M nus; fall in line with this. natural
yend.
eastop priees is seen ahead and the
sr., basis vii. be lower. it ;s believed
gss sdsance has been too sharp sor the
eres,ion Of any ssutainiag power. Tn1s
,esoi,e t.he pessinistic reports that
,s being mace or the crop outlook.
there has been Just enough speculation
in the cotton market during the last
.cgaace to strengthen this Tiew. Bur
the trading has goae forward generally
in quite an orderly fashion, indicating
\ position strong enough TO resist any
effort 10 drive it TO the levels from
lThieh the increase started.
The developments o. the las, thYee
or four weeks nas undeDiably shown
ne man with something 20 sell IN a
mueh more favorable position than
thrse months ago. The mills have
saoTn this in their refusal to consider
any kind o. offer that has been made
I'D in declining diatano commitments.
There mas been as yet no expression
& opinion as to the affect the Su-
creme Court decision on the child
labor law will have on the industry.
The textile industry is, however, the
res. susceptible TO the use CT child
abor. But the lack OF any restrictions
siI! be taken advantage OF in the
seuth rather earnestly trying to main
ain the present wage scale in New
Eag!snd III the face of the DISASTROUS
anpetitioH from Southern mills.
The Fall River print cloth sales this
retk dropped to slightly more thar
10000 pieces. Buyers were reluctant
% psy the new prices that Haw cotton
advapces brought. In some instances
nils withdrew from the market when
Buyers persisted in trying to put
Trough orders at last weeks prices
But buyers generally sensad TIE si.us-
ion enough to pick up really attractive
ofers.
The gray goods market was quiet
10 too with fine shirtings. In these
markets the mills are not anxious u
press sales, as the price advance has
not yet been wide enough.
Mil shares have held strong posi-
ion throughout the week, Prices have
steadily. Buyers are still
railing the asking pricas: and pick
~ lots are the rule in Fall River and
New Bedford. Potomska Mills lave
s.en the most active among New Bed
,ord shares. Much Of the disparity in
The bid and ask price that existed on
this stock has been eradicatcd, total
gain Of 7ia points in the bid price
bMyiag it to 1879 while q loss Of
2is pents in the asking price brought
il, holding price to 172ia.
Cotton receipts in New England tool,
radical drop in April Strikes and
.te curtailnent because OF adverse
conditions were the causes. IN Law
renee and Mancle ester the receipts fell
almost to nothing. The total OF the
month in the fce principal centers OF
New England, New Bedford, Fall River,
Lowell, Lawrence and Manchester, was
$500 bales. Last year 66,535 bales
we're received IN April, approximately
half that Of the season 1919-1920.