The Birmingham age-herald., 1923-06-17
u | I H DECLINES IN FACE OF RISE
 IN RAW MAI TER|AL
Finished Goods Quiet And Jobbers Make Strong
 Clearance Efforts

Cotton has been very strong this week, and all reports regarding the crop have warranted expectations ot a still higher cotton market later In the year regardless Or immediate fluctuations. The effect this sit uation on cloths has been practically nil A number of gray cloth prices have eased off right in the face of advances in cotton. Business in gray cloths has been generally limited to small lots-for filling-in purposes. Instances of fair-sized sales have been reported but they have been in the minority.
 Most hopes for the near future are based on the weather. Talk of eX- pected improvement is centered in variably on what the sunshine will bring forth. In the meantime con verters are not being influenced by anything except the volume of fin ished goods business. Should 1t prove that the cotton advances have be- come a certain factor for considera- tion during the next few months, It is likely that buyers of gray cloths will have to change their policies Regular Business Quiet.
 Regular business with the jobbinS trade has been very quiet. A number of wholesalers have been In New York to pick up goods for their in ventory sales, particularly wash goods. The understanding is that many bargains have been obtained in printed voiles-some prices being as much as 10 cents a yard under open ing quotations. While some convert CTS have decided to hold their goods longer and get a little more, others have become somewhat weak k-kneed. Of bleached goods, percales, and most other lines of converted and colored goods, comparatively little has ben heard. Agents have been watching the markets closely, seek ing the right moment to revise prices Thus far there has been no intimation of when this will be. Some observers express the theory that the next prices will insure busi- ness. Of course, much would de- pend upon the developments in the meantime. Cotton and gray cloth might be much stronger, and pei haps higher, at the time of revising finished goods prices.
 This would naturally have a de- cided bearing. However. there are some who are of the opinion that the gray cloth markets will suffer right after the naming of new finished these prices will be attractive and bring in plenty of orders. At frst, gray cloths will have to react to fit in with the finished goods and then. after the finished business has come along, the gray goods must go up again. This is one process of req soning that has been heard.
 Different View Held.
 Many of the sellers take an en- tirely different attitude, giving 1t as their belief that activity in gray will mo- mentum before the end of June.
 Cancellations have come In for good share of comment. Mills have been using all efforts to deliver on time. In a number of instances, re- quests have been granted, extending deliveries, the buyer to pay interest accordingly.
 Mills making voiles have shaded their quotations to more than small extent in the past three weeks, and are reported to have sold iair quan- titles, quietly, at the concessions. Or dinarv hard twist voiles have been bought at IA to Is cents, depending upon the. make, good make of 6OXoz slack twist at 12 cents.
 Current business in finished cotton goods with converters and selling agents continues in small volume. The wholesalers also find their regu, lar trade in wash goods and bleached goods quiet. Some wholesalers have been reducing their prices on various bleached goods lines, but report the concessions have not had the eX- pected effect of compelling pur- chases.
 The early part of the present week was featured by semi-annual pre- inventory sales in the Chicago Job- ping trade. These sales served to emphasize the back wardness of the spring season as registered Dy the dullness in colored wash goods ana white goods. Concentrated attentloh was given to these fabrics Tn lhe stock-moving efforts of several of the Chicago houses. Low prices were ouoted on several lines of cotton dress fabrics, in which it was appar- ent that some wholesalers were over stocked. Concerning bleached gooas' percales and most other lines or con yerted and colored goods, mill selling agents are watching the markets closely, seeking the right moment 10 revise prices. Index Number-16.S1.
 The cotton goods market worked d into new low levels during the week ending June s, the Fairchild Cotton Goods Average Price and lndeX Number receding to 16.S1. compared with 1896 for the previous week. The average price is now on a ievel with that ruling during the hiiooie of December, 1922.
 While the decline in the cotton goods average price continued unin- , terrupted last week, the cloth mar ket witnessed the anomaly Of sup stantial advances in the raw materi- = al, the average price of cotton aa- vancing to 2S45 for the week ending June s. which compares with 2S.2o for the week ending June 2.
 The following table shows the trend of the index number for the last three months: