The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-02-27
RAW COTTON HAS
LIVELY WEEK AND
SETS NEW RECORD
Print Cloth Trading Was More
Quiet, But Ginghams
Showed Activity

NEW YORK, Feb. 26.-Raw cotton
prices gave the market another sud
den surprise, during the past week.
On Wednesday, after acting uncer-
tain for two or three days, the mar
ket suddenly developed a general
buying wave that swept bears and
shorts to cover and set a new high
price record for the season, the May
contract month going over the 20
cent mark. One OF the most impor-
tant market houses, which for
short time had turned to the bear
side, now holds the opinion that cot
ton is headed for materially higher
prices.
Converters have been doing good
business in flock dot voiles and in
prints in Oriental patterns.
Trading in print cloths during the
sast few days has quieted down con-
iderably. The tone of the market
continues strong. however, and in
h face of new high grounds touched
~ raw cotton, prices are being
irmly maintained. On Monday, there
vas renewed interest in three of the
popular constructions that have been
look all of the quick" goods available
In these three mum bers and have
practically cleaned up the market on
lpots. There was not as much inter-
est in the May-June deliveries as
witnessed a weak ago, buyers show
Ing less Willingness to pay the high
er prices now asked for those months.
BY the middle of the week most OF
the buying interest disappeared and
the market has been quiete-. than for
some time past.
Sheetings continue quiet. although
prices are firm, the same story APP
plying to drills.
The combed goods market is
strong, in certain lines, such as flock
dot voiles and vof1es for printing.
Such silk and cottons as are being
used for printing have been in fair
demand for nearby delivery.
Business in southern ginghams re-
Gently priced for fall, is measuring
up excellently, the large commission
houses report. Several important
line were reported sold up and with
drawn within the past week and
prices of one or two additional lines
have just been named. Practically
all of the i'm por tant southern lines
have been priced and the trade is
now waiting to see what action is
taken by the largest eastern pro-
Queer. So far, there has been no
Information Degrading any of the
Ne, England centers.
Sellers OF denims report numerous
requests to have deliveries antici-
pated, and where deliveries are be-
hind, are urging COR shipments. Keen
observers of the market point to the
denim situation as the most striking
index of the comeback" staged by
the cotton goods trade during the
past year. Tho war left immense
surplus of denims on the market and
numerous mills had to operate with
OF. profit for moaths. All of this
surplus has long since been absorb
ed and now the largest Hills are well
sold ahead.
There has been 9 good busine-i in
tckings and there Is talk of the like
lii cd of slight advances in southern
makes. in the near ~e. Some SELL
err. consider the heavier tickings
priced too low in proportion to what
OTHER colored goods of similar weight
have been selling
Trading in the extra staple cotton
markets is till restricted chiefly to
lots offered at prices under the gem
eral levels, with prices generally I'M
changed from those prevailing for
the past two weeks. Inquiry has
been considerably more active than
actual sales of the commodity.
The cleaning up process by many
holders o. the small lots on land has
met with a ready response by mill
oil ne od
distressed lots" has placed damp
err on dealings where the market lev
els were asked.
Prices ger rally quoted for extra
staple cotton, strict middling in
grade and color, fob. New Bedford.
and classed as to a very exacting
standard of stapling. were as fol-
lows:
rs inch, 321s to 33h cents.
! 3-16-inch, "a to 35 cents.
IL inch, 35 u to 81 cents.
5-16-inch, 3S1a cents upward.
skeins and warps and frame spun
cones in the Philadelphia yarn mar
ket continue to soften and business
in them is still described by dealers
as flat" and unsatisfactory, but it
is beginning to look as IL hose in
the best position to reduce prices
were proceeding in this direction
v 18th considerable caution.
Very few additional cases of price
cutting have been reported during
the last day or two, and in some
quarters of the local market. the
claim is advanced that prices, as a
whole, show signs of firming up. This
opinio is held by some very reliable
yarn dealers. but it lacks the con-
firmation of any important sales.
1t is noticeable that a more hope
full attitude is abroad among yarn
s. Hers, however. A few tell of bet
tor prices received for small lots of
prompt yarns and recently. as, for
example, SO cents for 20s-2 southern
carded warps. 40 cents for 1882 and
AZ cents for 14s-2 warps, 81 and IS
ce.ts for sos double carded cones.
etc.
The following chart indicates the
trend of yarn values:
T - z3lE Ess q