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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 19, 1919
Page
9
Industry leaders warn a controllable three month window for woollen and silk supplies may run dry. They report mills curtailing output due to labor shortages, foreign trade withdrawals, and skyrocketing prices, risking severe cloth shortages for August through December deliveries.
Silk goods producers report they booked many orders yesterday from old customers as stock ran low. Paris Coast buyers appeared, while new customers faced cautious reception. Jobbers of staple fabrics other than taffetas showed strong demand, with some seeking to place orders with rivals. Interdealer trading hinted at speculative activity as some jobbers bought silken shades rejected by retailers. Mills face requests for October to December delivery, though many refuse distant delivery due to high raw silk costs.
One of the country’s largest women’s dress fabric producers, Ferge, reportedly will allot serges sparingly for October and November. The report notes production will be sold in restricted quantities to manage supply.
Transactions in raw silk in the local market yesterday showed strong volume with most buys for delivery within two months. A leading Japanese concern reportedly sold double extra Kansai at ten dollars per pound for immediate delivery, setting a new high price. Cables from Lyons indicated top grades around twelve dollars per pound equivalent, based on 135 francs per kilo.
Receivers appointed for AH GEORGE and Manhattan Philadelphia Auto Extils amid voluntary and involuntary bankruptcy filings in New York, Yonkers, and surrounding courts. Debtors include Esther Breakstone and Abraham Breakstone among others. petitions claim assets and liabilities with numerousCreditors listed and multiple attorneys named.
Paris officials announced new adjustments to a France import ban, easing restrictions on many items while retaining protections. The official Journal notes exceptions where luxury and nonessential products will face higher duties to shield domestic industries, with foodstuffs and essential manufacturing inputs spared.
A garbled New York County notice lists numerous names, dates, and monetary figures related to a judgment filing. The text resembles an OCR fragment of a legal docket with parties including Faries May Wood and various firms, amounts such as 2,105.01 and 4,900.00, and scattered references to property or liens, but lacks coherent structure or clear outcome.
German demand for American fur skins rises as peace conditions loom and exports to Central Europe grow. Dealers note high payments abroad, with Leipsig sale skunk skins fetching about 24 dollars in German marks, near London levels.
Boston June 18 The wool trade expects a temporary shortage when the final government auctions end June 20 28. Government sales will pause until next November while new western clips enter open markets. Buyers anticipate higher prices for the season’s clip as government fleece sales wrap. Local farmers seek 72 78 cents a pound for running fleece though few bidders meet that. Some clips sold at 60 cents or more in sealed bids. Germans resume South American purchases as labor improves and about two thirds of the South American clip is sold.
Boston June 18 Wools offered at the government auction sold better than the previous sale. Dealers led the bidding for top grades as about 2,750,000 pounds of scoured wool and 125,000 pounds of nails were offered. Fine Australian carbonized wool brought 1.28 to 1.29 dollars per pound, Cape wools 1.20 to 1.27, and the American Woolen Company paid 1.48 dollars for a small lot of fine Australian combing wool.
After weeks of slow trade the gray unbleached cotton goods market showed activity. Early trading saw print cloth 64-603 drop to 16 cents a yard, drawing orders from large converters and fabric makers. Some mill agents expect prices to rise after heavy orders, while others note buyers from South American and Porto Rican markets have left, and many domestic dealers prepare for inventory. Purchases are hampered by slow mill deliveries and reluctance to replace sold goods. A New England retailer’s buyer said odds and ends at 5 to 10 cents a yard are scarce.
Percy M. Brotherhood of Manning, Maxwell & Moore says demand for machinery and tools is expanding as war weariness fades and reconstruction begins. Prices have fallen 10 to 20 percent, rail orders lag, and England, France, Belgium, and Italy seek American machines with credits from the U S and Canada.
Reported firmer commercial paper with a small rise in rates, yet brokers see overall rates steady or easing. Declining call money eased paper movement. Western markets show 5 1 2 percent for good paper while many dealers await semiannual statements. Acceptance market grows, but debate over American Exchange National Bank actions sparks differing views on future discount market conditions.
Basic Commodities report notes bid prices when no transactions appear. Platinum per 02 and silver per ounce are listed with bid figures reflecting the market snapshot.
A Toronto shoddy mill owner visiting New York says Canadian woollen and worsted mills are producing higher grade fabrics. He notes that wartime conditions boosted demand for top quality shoddy and that Canada may continue higher grade production even if imports rise. He cites government guarantees aiding Romanian cloth contracts.
Retailers report shoes arrive late as manufacturers fail to keep pace, with high grade women's styles from Brooklyn factories delayed since last fall. Producers plan spring displays but price schedules remain unsettled, amid color trends Black and Havana brown and long high heels dominate. Eight and a half inch heels seen as popular.
Arthur Liebex told 200 American Manufacturers' Export Association members at the Hotel McAlpin that Cuba aims to buy more goods from the U S but exporters must meet foreign credit terms. He showed moving pictures of Cuban commerce and noted prosperity from high sugar prices, plus demand for engineers skilled in oil burning engines as coal costs rise.
Corres NEW BEDFORD Mass June 18 The National Spun Silk Company of this city will erect an additional four story spinning mill in the near future. Lockwood Greens, architects of Boston and New York, are drawing plans for a brick building about 100 by 250 feet. The company with a capital of 1 080 000 operates 28 000 spindles and makes silk yarns nail yarns and silk nails. The new mill will be the third built by the company and the second in two years. Its cost with equipment will run about 700 000.
The Iron Age notes Pittsburgh district mills push capacity to seven a percent, while General Motors orders 12 000 tons for structural work. A 5 255 ton award funds the Michigan Boulevard bridge project in Chicago. Navy needs total 6 500 tons due by July 1. The Iron Trade Review reports a genuine buying wave in pig iron with Cleveland Buffalo New York Chicago moving tens of thousands of tons. American Radiator Company purchase cited at about 69 000.
Diamond dealers returning from European markets report a acute shortage of rough and cut stones. Stock secured is smaller and of poorer quality than prior shipments. Amsterdam remains leading cut diamond market while Antwerp regains status as workers return. London prices stay near present scales despite high demand.
Custom House officials report a 300 percent rise in cut diamonds imported in April to 4.71 million dollars, up from 1.30 million in 1918, with uncut diamonds and pearls also showing large gains. Overall precious stone imports surged as wartime demand outpaced supply.
The National Association of Waste Material Dealers concluded a two day convention at the Hotel Astor with a general meeting. F W Reidenbach president said he spoke with a Department of Commerce representative about conservation methods and accused government officials of lagging behind in their plans.
Worumbo Company, woolen makers, announced selection of shoe top cloth colors smoke beech mouse bear seal and coat from the Textile Color Card Association of the United States. Industry leaders expect shoe and hosiery makers to follow to ensure exact color matching.
The Lerner Waist Company will grant its entire staff except show room employees a vacation from Friday July 1 to Monday July 14. The period is called an efficiency vacation designed to spread rest through the season and align with employer plans.
Washington June 18 2000 American manufacturers petitioned President Wilson and the House Ways and Means Committee to establish licensing for German imports of dyestuffs. They warned a British style license system is needed to save the U S dyestuff industry from German control. The panel debated tariffs but planned separate emergency measures for endangered industries including zinc after calls for a two cent per pound duty on zinc imports.
Sales of caustic soda remain strong with smaller stocks in dealers hands and reduced second-hand supplies. Soda ash prices are firm. Benzonite of soda in high demand with preservative trades at 1 to 110 per pound. Potash offerings include potassium muriate at 855 ton 80 per cent prompt from New York. Oxalic acid softer with broader offerings. White arsenic firmer with carload sales at 8 1/2 cents a pound. Imported carbonate of potash up on lower holdings. Red prussiate of potash prices lowered by some dealers.
Rattan and willow basket makers struggle as skilled workers shrink, many sourced from Europe. Prewar wages averaged 18 dollars weekly, now about 40 dollars. Some willow baskets arrive from Belgium, highlighting supply constraints and rising costs.
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