The Birmingham age-herald., 1923-07-08
$2,OOO,OOO MELON CUTTINGS ? LIN I ID COTTON BOOM
Southern Mills Show Pros- perity, While CurtaiIment
 Increases

NEW YORK, July 7.-Specific evil dence of the prosperity enjoyed by cated in the announcements that nearly s2,000.ooo In dividends will pc distributed by 5s of the le.<ling mills in that section shortly. The Fair child News Service has obtained from reliable sources the amounts to be paid in several of the more import ant mill centers in the south. ln- formation received from Greenviile. s. C.. discioses that approximately $640,0o0 in dividends will be paid on an aggregate capital stock of about $2.0000,000. The interest ranges cent semi-annually. It Is said that 70 not single mill In this county failed to declare a dividend on either its common or preferred stock. The Victor-Monaghan company with a quarterly dividend of 3 per cent on $6,6S2,S00 of common stock dlstrib- uted the largest amount of any of the mills in this city.
 An outstanding feature of the an- nounc cements made by the cotton mills in Spartanburg county Is the 50 per cent preferred stock dividend disbursed to the Pacolet Manufactur- ing company stockholders, which amounts to S1,0OU,000. This is said to be the second dividend of this na- ture which the Pacolet company has paid. the first being issued in July, 1920.
 Six of the largest cotton plants in Anderson. s. C.. have just announced that $172,000 in dividends will be distributed Officials of two other mills In this city intimated that their usual dividend will be forthcoming within d short time.
 wAee,s Slow Sewn. S 2 Q
 The wheels of the cotton manu- featuring Industry slowed down per ceptibly during the past week. The presence of a holiday in the middle of the period furnished tho estensibie reason for. the stoppage of produc- tion. A few plants closed down for the entire week, but the larger por- ton were shut down either from Saturday of the previous week until Thursday morning, or from Tuesday night until the following Monday. Reports from New Bedford indicate that curtatlment in that center was the heaviest this year. production be- Ing estimated at 30 per cent of the normal output.
 No Definite Trend.
 There has been no definite trend to the gray goods market during the past week. Trading has been rather quiet and number of prices are slightly easier. In a flow instances,
 
 where buyers were able to get goods at the prices they were willing to pay. Generally, however. sthe trade has been holding back andAwatchlng further developments in finished goods.
 At sA cents. 3s>s inch, s4xso, S.s5 yard print cloths are at the lowest point this year. Fall River apparent ly is Keen for business and during the past week shaded several prices that were quoted in the south.
 Sheetings have been very quiet. little off. There has not boon very much interest in drills. voiles have been in fair demand.
 Flock Dot vosies.o o
 Flock dot voiles have been the best Item in wash goods. with . steady demand for quick deliveries. Con- verters have sold ahead, and in the majority of instances have not been able to tako care of orders for prompt shipment. Fine yarn shadow { stripe warp sateens for underwear fair demand. with quick deliveries difficult to obtain. T.
 Staple finished goods continue worry quiet although there has been i'm provement in tho inffuiry for bleach- ed goods. New prices made last week on wide shooting, sheets and pillow cases were regarded as very low and sellers are looking forward to goods business. It Is argued that these new prices arc based upon cotton much lower than today's market and discount any things that might pos- sibly hapen. Prices on 3s-inch branded bleached muslins were also made at levels that are believed to be attractive.
 Several houses have been ceiling work shirt chambrays for quick de- livery at somewhat under quoted prices. A few houses have taken contract.
 Index Number 1e.3<s.
 The sharpeSA decline for any week this year is shown by tho Fairchild Cotton Goods Average Price and In- lex Number for tho week ended June 30. The number. 16.a4S. compares with 16.sl0 for the previous week. Cloths droppaA to the level of tho second week Tn November. 1e2z. Raw cotton for the wsek. however, had an average price of 29.3s, which com pared with 2s.a2 for the week pre- vious, and with . high point of 31.10 for tho week ended March IT. The Fairchild Index indicates clearly the lack of influence of raw cotton on
 Reprioing of important lines of bleached goods in the regular 36-inch widths and the wide sheetings is chiefly responsible for the sharp drop in the average price. In adition to this, prices on most gray goods wore reduced slightly as we'll as of sheet ings and drills.