San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-02-02
ENGLISH MILLS
BUYING COTTON
| IN QUANTITIES
axe Steps to Maintain Po-
sition in Cloth
Markets.
EXPECT HIGHER PRICE
)ne Expert Predicts IS
Cent Level This
Summer.
Expect HIGHER PRICE
Ry j. C. ROYLE.

opyrisht 1873, by The San Antonio Light.
New York, Feb. 2.-English spinners
re buying cotton from the United
tates as fast as they can accumulate
he raw staple at present prices. They
~rmined on this policy shortly after
rance entered the Ruhr and the &C
eptance of the American terms for the
ayment of the British debt to the Unit
States has confirmed them in that
olicy, according to adyices received here.
hey are taking steps, cable dispatches
1dicate. TO maintain themselves in the
ptton cloth markets of the world
throughout the coming year by proyid-
1g for future requirements so far as
cssible.
in this connection, the refusal Of the
Manchester manufacturers to 5lna
themselves 10 maintenance of a four
ay week is significant. although the
pajority went on record as favoring
estriction Of production. Some of the
Dinners are expected to increase opera
ons early this month.
Expect Higher Cotton.
There is wide range of opinion
Inong traders and crop experts as to
be immediate course Of prices for cot
bn, but the latter group indicate a firm
elief in ultimately higher figures. Crop
respects in the South, they say, are
lowing no brighter and it is more than
bubtful whether the cotton states will
able in 1923 to expand their output.
That the labor supply is inadequate
cultivate the acreage which planters
ppe to SOW to cotton this year seems
Inevitable. according to dispatches from
he Southeast. Fall rains have been
cking in some sections which needed
hem. In certain localities the weather
his winter has been such as to make
he boil weevil an even greater menace
han in the past. This danger has been
Augmented by the shortage of efficacious
secticides.
Increased output of the copper smell
hrs under the urge of higher prices for
he red metal, may add somewhat to
he supply of calcium arsenate used
,ainst the weevil, but there will be
ousands OF acres which must go I'M
prayed.
May Reach 35 Cents.
One of the foremost cotton experts OF
e South, now in New York, went on
cord today as predicting 30 cents a
lad cotton before the new crop comes
h the market at the end of next sum-
er. He declared the mills would have
scurry around for raw cotton in a
ay not duplicated since 1910 in order
keep their spindles in operation.
In commenting on the firm resistance
prices at present TO downward in
uences. he instanced the fact that one
rye Wall street Spectator, who had
snsferred his operations from stocks
to cotton for a time, had thrown 2OO,-
b0 bales on the market in two days
hid that while the price had receded
hder this onslaught, those who had
llowed this lead and sold their con-
acts were having difficulty getting
EN- back except at higher prices.
Crude Oil Advancing.
Advances in crude oil continue to be
nounced regularly in practically every
BID except California. Even there they
E being anticipated and discounted,
ording to telegraphic reports. A total
127 new wells were started in Cali
rnia in January compared with H.
January, 1922. Thirty-two wells
ERE started in the last week. Only
xteen wells were abandoned during
nuary as compared with AZ last year.
he Long Beach and Santa Fe Springs
Eds are the center Of the new opera
bins, and many new independent COM
MES have started drilling.
The order Of the Interstate Commerce
bmmission authorizing new inter-
aneeable mileage books will mean a
wing to travelling men of 20 per cent
country over, according to officials
the Travelling Mems Association, ard
lI be of benefit TO manufacturers,
erchants and carriers generally.
Northeastern lumber dealers are fol-
wing the lead of lumbermen in other
,tions and considering formation OF
ilding and loan associations with
cir backing, which will finance home
Hiding in this section Of the country.