The Washington times., 1923-09-06
DISASTER WILL
BOOST SILK
MARKET
Manufacturer Says rs Per
Cent of Worlds Supply Has
Been Destroyed.
BY w. s. COUSINS.
fCopyright, 1929. by Cosmopolitan


News service.)
NEW YORK, Sept 6.-The de-
struction of the seaport city of
Yokohama, will mean the loss Of at
least rs per- cent of the visible
supply of the raw silk of the
world, according to an estimate
made today by Hiram r. Mallinson,
head of the silk company of H. II.
Mallinson, one of the largest manu-
facturers.
Such a loss. Mr.. Mallinson de-
clared, will naturally be reflected IN
the markets for raw and manu-
featured silks, and already the Dig
silk firms are curtailing their de-
liveries. Trading in raw silks mas
been suspended for five days, until
the situation is more clarified.
II know of no market" said Mr..
MaIlinson today, more sensitive to
the law of supply ana demand than
the silk market; and 1t 10 fair tc
assume that the destruction OF a
large portion of the visible SuDply
Of raw material will enhance the
value Of that which remains.
America Lea Consumption.
The fact tina. Japan produces
about two-thirds of the worlds sup
ply of raw silk, while America con
sumes more than all the rest OF
the world put together. makes the
relationship between the two coun
tres very close. The first thoughts
Of the American silk manufacturer
have naturally been concerned with
the personal loss and suffering o1
the Japanese people, and we nave
already raised 100000, of our pro
posed 100000 relief fund"
MIR. Mallinson cited figures show
ing world production and consump
ton of silk. In the fiscal year end
ing June 80, 1928, the total world
production of raw silk was abou.
10, 000,000 pounds, of which Japan
supplied ASA 900 pounds: China
15,67S,000 pounds. and Italy, S,S41,
900 pounds, the balance coming
from France, Spain, India and the
Levant.
Like Steel Industry.
1.-The silk industry is to Japan,
said Mr.. Mallinson, what the steel
industry is to America. Her great
port of Yokohama, and the territory
adjacent to it, was the center of the
silk growing and shipping industry
and thousands of bales Of silk
crowded her docks awaiting ship
ment to the markets of the world
While the greatest damage, accord
ing to available reports, has been
the destruction of this silk awaiting
shipment, it would not be surpris
ing IL 1t developed that a large part
of the producing area has also been
wiped out.
''of the 10000, 900 pounds of raw
silk produced last year, $4,000, 900
pounds, or about 70 per cent of the
total, were delivered to American
mills. Practically all the manufac.
tured goods made from it in the
form of clothing, draperies and other
products, were retained for con
sumption in the American markets.
America today Is a silk-loving
nation, and the American woman
who becomes accustomed to the
adornments of silk garments will
be loath to return to her f1annels
And there is no reason why she
should; for silk, regardless Of mar,
ket prices, inparts to milady that
feeling of lasting satisfaction which
Is more than money to her. She
has found. too. that silk garments
have. In many cases. been more
economical than lower-priced goods,
which fade with the first rising of
the sun"
Trading Suspended.
Mr. Mallinson was reticent con
corning market prices for silk and
silk products.
Official trading in silk is SUI
spended," he said. awaiting more
definite information from the silk
producing regions. But the gen.
eral relation of raw material prices
to those Of the finished products
Is that OF a 10 per cent increase in
the latter for every 81 pound in
crease in the former. Thus, If
raw silk goes up temporarily 81 a
pound. manufactured silks will in.
crease 10 per cent In prices. If, as
is generally expected, raw silk Is
marked up $3.50 a pound, it will
be reasonable to look for a 25 per
cent rise in silk cloths. But the
restoration of the producing dis
tricts in the course of another year
would bring the markets back to
normal"
Mr.. Mallinson pointed out there
is no substitute for real silk, though
American manufacturers have turn.
ed out fabrics closely resembling
silk in appearance, and acceptable
to a large number of people. The