Evening star., 1923-03-19
COTTON GOODS ARE
IN GREAT DEMAND
Fear of Possible "Corner" in
Raw Cotton Causes Stir
Among Buyers.
BY j. C. RoYLE.
Special Dispatch to Tie Star.

| special Dispatch to Tie Star.
NEW YORK, March 19.-Wise buy
ers today are anticipating their cot
| ton goods requirements throughou,
! the entire year of 1929. Keen ner-'
| chants and manufacturers sense the
| possibility of corner in raw cotton
| and many wise traders declared to
| day they saw signs OF a determined
effort in the cotton markets here am
! in New Orleans TO control the supplv
| remaining from the 1922 crop and 10
shove prices above the Accent mar. .
! They declare the statistical pos
! ton of the staple puts a. corner Wei
| within the range of probabintv
! and that food OF speculative none
| thrown into the market now miRht
easily move prices above the 4O-cent
mark. The strength or weakness o.
! the forces opposing such move ST..
! is problema tical.
Demand for Cotton Continues
| Whether or not cotton corner -
IN process Of formation and whether
! or not it will be successful. the fact
remains. they insist. that with miiis
/ operating at the rate demand for
goods indicates. there will not ne
enough cotton in the United States
| TO meet the requirements until nev
crop becomes available. The effect on
prices OF a speculative corner mighf
! be temporary, but the shortage VIII
exert a continuous pressure upward
in prices of cotton goods.
/ Demands for wage increase are an
other factor in the goods market
Manufacturers have announced Their
| intention 10 resist these demands 70
the utmost and shortage Of goods
may result Costs are advancing. hu. ,
| the prices of goods have not kcp.'
| M1nlIf2Ptn-prc declare
ever. that they must catch up in the
tnear future and must be based on :"
1 cent spot cotton or higher. instead o
- or IS cent cotton s at present
Steel Output and Auto Prices.
+ The large steel mills OF the country
will come to a decision early TINS
week as to the amount Of steel MI
/ tonnage which can be allotted to the
automobile industry. On this deCisioo
will depend whether retail prices of
| some lines Of automobiles VIII be IN
! creased. The. automobile Companies
! are looking with anxiety to Their
! second quarter steel supplies because
! Of the heSitancy of many mills 70 ac-
| ccpt business beyond April. There
I have been widespread runlorS in Dc
! troit and other auto centers that -.
deman nds for steel from railroads ami.
| other consumers has been so greaf
/ that tonnage assigned to the auto
| trade must be cut down.
Auto Companies Storing supply.
| Il believe conditions now are
worse than in 1920. both as regard
| labor and material supplies. said
prominent steel company official to-
! day in discussing the automobile
! situation. automobile companies arc
! buying every available pound 81
every commodity used in their busl-
F.: ness and are storing what is for them
! huge quantities.
| Labor can almost name its ov
wages and designate its own jobs
Some cars of steel have been seves
; teen days in transit between N"
| Youngstown district and Detroit. In
| less there is some relief. unbalanced
! conditions Will cause tte-up. Few
! auto men admit that higher prices
will prove a check TO sales, but ii j.
generally agreed that much business
| which could otherwise be handled at
| a profit would be lost unless various
factories are brought into eQuili
/ brium.
/ steel at Penk Production.
| steel production right now is prob-
| ably at the highest point il Will reach
! this year. It is seared up 10 capacity
with the available of labor. yet uu-
! filled orders are mounting up faster
! than finished products can be turned
! out, and this is calculated to prolOnG
the period OF extreme activity. Tho
supply of labor. however. normally
/ falls off from April on as workers
leave the steel mills for the building
| trades. Buyers are fighting TO 81;
on the order books now before prices
| rise even further.
! Efforts to Hold Labor.
! The efforts big industrial concerns
! are making to hold labor are well eA-
| cmplitied by the action of Swift 4
! Co, packers. in granting a week :
vacation to employees who work on
an hourly and piecework basis. on,
a few firms in this country haye
adopted such a policy.
! The advance in tire prices ayerae
| ing around 10 per cent by three of
! the large Akron makers went into ct-
| feet today.
| Copyright 1923