The Birmingham age-herald., 1923-04-02
ORY GOODS PRICES OFF IN SYMPATHY
 WITH SPOT COTTON
However, Orders Yet to Be Placed Likely to Steady
 Cloth Market

NEW YORK, March S1.-(Special) Falling off in demand in the south ern spot cotton markets has induced further liquidation by speculative longs recently, leading several cotton market observers to express belief that prices probably will continue to decline until spinners again buy more actively.
 With the supply for the remainder of the year constantly decreasing, the short interest is practically non-eX- istent, one observer comments.
 The decline in raw cotton has had an easing effect of a number of cloth prices. There have been quite a few small orders for filling-in purposes reported, with trade quiet otherwise. Generally, resistance to hifgher prices has been noted. It had been thought that sharp advances in raw cotton would have the effect of overcoming the attitude in the cloth market With cotton being hammered. how ever, buying interest has again re- duced, and offerings of goods have been freer than in some time. There are yet considerable goods to bu bought by certain large factors and it is not impossible that, should prices ease further there will be anticipat- ing of requirements by certain of the important users.
 An easing in the cloth market at about this time is considered nat ural, according to expressions that have been heard in several centers. Prices on many constructions have been attractive to southern mills. particularly those which were well covered on cotton at low levels. Night operating became fairly general among southern mills-and plants that had originally sold their prod ii ft oDnl 6n etc h f I, accumulations to offer. The sugges- tion has been offered th;a this month will seek the peak of cotbn consump- tion. Noting the resist, ce to higher cloth prices. it would l.e the logical course to curtail the night work, the continuation of which would be a bearish feature.
 Several of the New York buyers state that recently when replacement prices on certain finished goods lines have been considered too high by their concerns- the numbers in ques- tion have been dropped. On the other hand, q keen observer states it is his knowledge that many of the job bers have covered on only a portion of the goods they will need for fall, and that within the next several months quite a few wholesalers will find themselves in rather a delicate position, not being able to take care of all of their trade because of lack of necessary stock. What will the jobber do, was asked, and will it af- feet the market?
 Conflicting policies, both among mill men and unions, have tended to confuse the cotton labor situation so during the past~week that it is diff : cult to see just what the final out come will be. The chief develop ments tending to bring about this confusion have been:
 1. The announcement by the Amer ican Woolen company of a 121a per cent increase in wages, effective April 30. This was followed by other New England wooden and worsted mills
 ?. The refusal of the Fall River cotton manufacturers to give an in crease, and their suggestion that the wage question be deferred until April 30.
 3. The acceptance of this sugges- tion by the Fall River Textile Coun- cil of the American Federation of Textile Operatives-by a close vote however.
 I. The reported impatience of members of the United Textile Workers in Fall River, and the ac- tion of their officers in delaying a strike.
 3. What should be most important of all-wage increases of about 10 per cent, put into imm ediate effect by number of southern mills.
 b. A l21s per cent increase by the Amoskeag Manufacturing company at Manchester, N H., the largest group of cotton mills in the world.
 There has been a material evening up in gray cloth prices, following the sharp declines In raw cotton. Prices have eased off a quarter of a cent a yard on several important numbers and there are indications that these might have gone little further were 1t not for the rally in the raw ma terial on Tuesday,
 Oplnions seem agreed that consid- erlng the successive declines in cot ton the cloth market has behaved well. Goods have come out of second Eands in small quantities. with the situation orderly in every respect. As soon IS there were indications of re- actonary strength in cotton on Tues oay the low priced offerings were quickly withdrawn. It is true that a number of large buyers are in hopes Of operating in cloths before very They have the idea that such reac- tions will prove an opportune time to place commitments for the next few months. Important factors be. lieve that at levels of one-half cent yard under the recent top a num- Der of buyers will be interested and mat trading of considerable size will follow.
 There has been very little from Fall 1iver this week, where mill prices have been firmly maintained With no willingness to shade price, even during the moments of weak ness in raw cotton.
 Sheetings generally have been very quiet. with easing noted in many con structions. This refers particularly to cloths used by the flour bag trades. This trade has been inactive for some time, and there have been accumulations offered by mills as well as goods offered at resale by flour bag manufacturers themselves.
 Prices for the jobbing trade have held fairly well. Papjama checks have been quiet The underwear trade shows very little interest in- solar as mems wear is concerned On the other hand, the womens under wear trade has been distinctly active. The various types of shadow stripes ard checks in the same effects seem to be popplar. Lighter weight semi fancy goods, with "Leno" ideas and irawn-w are in good demand