The Birmingham age-herald., 1923-06-03
ESTIMATES GROW. LESS AS ID 1923
 CROP 0F COTTON
Bad Weather Causes Late Planting And Labor Is
 Insufficient

II dIh tO IL. ne lOOkS LOT d good average for the last half of the year; believes there is good bus mess to come. The spring season has been missed. Win there be good buying of finished goods in June? If there is to be more action next month then the converter should not delay long in purchasing some gray cloth. On the other hand. should the buyers hold off through June, then even if gray cloths be on a low cotton poundage basis, the con commitments now.
 For the new crop. everything .ap- pears strong. There Is the late planting on account of bad weather reports of insufficient labor in the fields. All of the private estimates indicate a crop of under '12,000,000 bales. This may have no particular significance by the time the crop Is picked, but there is more and more inclining to the viewpoint that the crop will not be as large as many have been predicting. But the con verter is giving his attention to in dications of more interest to his customers, than the cotton crop. The retail situation is his only concern. If the advance in cotton stimulates retail buying, and then brings the jobber into the market, then the converter will pay more attention to Llle cotton IndTkcL. 1Tdy SOOuS, hc says. must have support, to main tain any advances. There has been a slight buying spurt this week. but a buying squirt by the big operators can have only temporary influence. There must be a resumption of fin ished goods business, so that the numerous smaller converters will be in the market from day to day. It Is their buying that keeps market steady.
 hn to1 ir half of a higher tariff on goods that include various sateens and broad- cloths, which have been coming over from England In quantity. has been intimated frequently of late. The argument of the domestic manufac- turers is that in framing the tariff too much attention was given to the colored-yarn and fancy-woven cloths, making it possible for the English. with their low-l costs. to under sell the American mills. These warp sateens and shadow stripes have taken the place of combined lawns and other underwear fabrics, giving them a considerable market. But the fear has been expressed repeatedly that the importations have been on such a scale that they will be over done, particularly in view of the fact that the character of certain Of the goods coming over has not been of the best.
 England sent to tho United States during March, 1s,3S0,o00 square yards of all kinds of cotton goods. During April the British cotton goods ex- ports to this country were 1b,467. .Ooo square yards. a little more than double the amount in April. lS2E, when they were 7,S37OO0 square yards.
 The results of semi-annual clear ance sales by jobbers throughout the country are awaited with interest in the primary market. The belief is that wholesalers will take advan, tage of the opportunity offered, and that these June sales will be more general than ordinarily. Jobbers Will make an effort to stir action and this is expected to bring them back Into the primary market.
 A merchant, subscribing to two concerns furnishing surveys on the economics of commodity markets finds they are contrary in their ad- vice. One is bearish on cotton ana cloth and the other Is just the re- verse. both concerns arc well re- puted.
 The psychological moment to name revised prices on finished goods is awaited eagerly. Opinion Is that it would be harmful if new prices are made too soon. Make sure that the new quotations will bring business, Is urged.
 Warm weather has created a great deal of hope in the finished goods markets, and there has been a few instances where jobbers have report ed improved business. Generally, however, the situation Is unchanged. Prices on a number of converting cloths, particularly bleached goods, are pointed out as being low, based on today's replacement market. Trading in percales has been rather quiet
 sold ahead in a good way. and 1t Is thought they cannot delay much longer in covering the balance of the goods they will require for fall. It is expected that soon some of the large houses will show their lines Of ging- hams for next spring.
 With regard to prices for tho next season, however. it is likely that both sellers and buyers will walt as long as possible. The Idea Is that the longer they wait the more certain they will be of the situation in cot ton and the better the following cloth prices will be.
 Several of the large houses report they could sell more denims for summer deliveries. but that they are completely sold up and not in posi- lion to take any additional business.
 There has been considerable im- provement in the gray cloth market during the past week. Sheeting prices are regarded as attractive and way by several of the large bag banufacturers. Certain styles have been bought for delivery as late as September to the end of the year in . large way. Several constructions are selling at the low poundage of 70 cents. This, compared with the current market for raw cotton, is be- lieved to be under cost.
 Print cloths have been more &C., tive during the past few days and some sizeable quantities have sold for delivery into September. Prices are little firmer on the popular styles. Converters are more satisfied with price levels than they have been for some time.
 There has been fair business in several styles of drills. Satetns have been bought in a fair way at the new low prices. Bombed cloths have been quiet.
 Index Number-17.O2.
 Cotton cloths have shown further slight decline, according to the Fair child Cotton Goods Average Price and Index Number-17.02, compared with 17.1OS for the week previous. The average price is little higher than would be true if proper market prices were named on the varit us finished goods lines: Nominal fig. ures. most of them Hast quotations" are used in arriving at. this average price, pending the time when selling agents believe revision should be an- nounced.
 The sharp advance in cotton g l. ~f~ fR