The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-04-09
DRY GOODS FIRM
DESPITE DECLINE
IN COTTON PRICES
Wage Advances BY Cotton
Mills Help to Steady
Cloth Market

Several of the important factors in
the cotton cloth market are urging
the trade not to overlook the fact
that fundamental conditions in cot
ton have not changed any during
the past few weeks in spite of the
b. decline in raw cotton.
Il can't get 'bearish.' though l am
not 'bullish' for the moment" was
the expression heard in one center
this week There really seems TO
be no basis for bearish developments,
and it is only a matter of waiting
till the bears in the cotton market
have finished their work
The wage advances being given by
the cotton mills throughout the
country ought to be the means of az
least holding prices about where they
are, it is argued.
Some who have figured the market
carefully say they look for another
squirt. The word squirt is used
here in mild sense. This theory is
based on the knowledge that quite
a few cloth concerns need goods, and
are ready to take care of such needs
at any moment they are satisfied the
turn has come. Following this
squirt" the theory is that the mar
ket will then rest easy, and wait for
the full influence of the new crop
and the night operations of the
southern mills.
The manner in which second hands
apparently have become alarmed and
showed Willingness to let go Of
fabric at under the market has re-
suited in much depressing atmos-
phere for the time being. Not in
long while has the trade heard so
much of the extent to which prices
might be shaded.
The gray cloth markets have not
been active. There is quite little
buying that has to be done by a
number of converting houses, and
they have been watching the mar
ket closely for indications that the
liquidation is completed, believing
greater strength will follow, but that
is about all.
Print cloth prices have held we'll
everything considered There have
been signs of firmness during the
past few days when cotton started
upward.
sheetings have been rather weak
particularly in the flour bag con-
structions. The cloths which go to
the jobbing trade have held fairly
firm, with concessions not of much
Importance.
Perhaps the most important de-
velopment is in the wide drills, sat
Gems and moleskins that go to the
automobile top trade for imitation
leather purposes. Henry Ford is re-
ported to have purchased 100000
yards of goods of this character for
delivery up to September The trade
had been looking forward to some
sO
and it was naturally considered
healthy, for several mills had found
their current contracts on these
goods running out and needed more
business. Drills have held firm.
There has been very little doing in
the combed cloths.
New prices on wide sheetings,
sheets and pillow cases were an
nounced the first of the week. The
trade had been looking for these an
nouncements for the past month. but
the important houses had preferred
to delay until closer to the time of
offering new deliveries. The stu
alton In wide sheetings has been
very strong; the important mills
product ahead as far as they have
cared to go, and jobbers' stocks had
been reported in need Of replenish-
ing. The new basis of ~ cents
yard Tor 9U-lnch Dleacned 'PeQuot
is an advance over So cents. But
this advance, 1t must be remembered,
takes in higher cotton and an in
crease of 1877 per cent in wages.
The trade regards the increase is
conservative.
Finished goods generally have not
been active. The regular 36-inch
lines of unbranded bleached goods
have been quiet. Very little has
been done with the Jobbing trade on.
these cloths and the underwear trade
has been experiencing a strike which
has resulted in requests for delayed
delivery of goods on order.
There is a steady business for per-
Gales, in small way. The trade Is
looking forward to the naming of
new prices for fall. The contention
of the printers has been that 1t will
be necessary to ask another advance.
However, IT is understood that every
possible effort will be used to main
tain present prices as the best pos
sible course of merchandising.
Colored goods are strong Denims
are selling where offered at higher
prices.