348 



THE INDIA RUBBER WORLD 



[July i, 1903. 



THE TEXTILE GOODS MARKET. 



TH E saying that " Cotton is king " was never more true than 

 at present, and with every prospect of continued high 

 cost of the raw material, it appears quite likely that the reign 

 of the monarch will be uninterrupted for some time. Since the 

 last issue of The India Rubber World, the market has 

 been a state of chaos, the "bulls" having had a run of good 

 luck such as seldom comes their Tray. It may truly be term- 

 ed a gambler's month, and the dealings in futures have been 

 on a gigantic scale, with prices continuing to harden from 

 day to day, until the moment, when the spot staple is quoted 

 at 13'+ cents, or 2j4 cents over one month ago. The acreage 

 put under cotton cultivation for the coming season is said to 

 be over 2S, 500,000 and unless the yield is in the vicinity of 11,- 

 750.000 bales the reserve stock will not get into a position of 

 safety. It is clear that unless a large production of cotton is 

 forthcoming another season, the cotton mills will have to remain 

 idle a part of the year. Starting about June 1, cotton mills in the 

 South and in New England have been either shutting down or 

 suspending work on part of their machinery. Those operating 

 full have contracts on hand that must be completed, no matter 

 what the price of cotton. One Southern mill in this position 

 was compelled to buy cotton this week, paying 16 cents a pound 

 for 200 bales — the highest price paid for cotton since 1875. The 

 cotton duck mills have enough cotton to carry them through 

 to the end of the season, but when the rubber manufacturers 

 come to make their contracts for another year, they will find 

 that prices have gone up considerable. Some time since the 

 agents in this market were ordered to advance their prices for 

 hose and belting ducks to 22 cents a pound, and new contracts 

 will be made on that basis, or about 5 cents a pound higher than 

 those now in force. In fact, it is possible that the cost of 

 duck may increase materially between now and October. Be- 

 ginning with this month the mills of the United States Cotton 

 Duck Corporation will close down for a fortnight or a month, 

 a part of them at a time. 



The following figures were the prices of spot cotton at the 

 various ports on the dates named : 



New York. New Orleans. Liverpool. 



June 6 1 1 50c. 1 1 J " c. (> 50,/ 



June 13 12. 50c. I2]5c. 7. d 



June 20 12 40c. I3iVc. 6 SS</ 



June 27 1325c. I3i',.c 7- d 



The hose and belt manufacturers have not made their requi- 

 sitions as regularly and on as large a scale during the past month 

 as characterized their operations during May, and it looks as 

 though some of them would not consume the maximum quan- 

 tity of their contracts. There is little doubt, however, about 

 their taking all the goods contracted for, even if they do not 

 need them for this season's consumption. Indeed, it has been 

 hinted that some of the manufacturers have been curtailing 

 their output to actual requirements, in view of the higher prices 

 they will have to pay for ducks next season. What they do not 

 use this season will save them from buying that much for the 

 next. That this has been anticipated by the duck manufactur- 

 ers is shown by the fact that contracts for another year will be 

 made on an entirely different basis. The amount specified will 

 have to be taken within the year, and at periods named in the 

 contract. 



Manufacturers of rubber boots who have been delaying their 

 purchases of ducks in hope to see prices more to their liking 

 have displayed rather poor business acumen. Some of them 

 could have covered their requirements a month ago at 17 

 cents a pound, but to-day they must pay 22 cents. Some of 

 them followed the advice of the sellers and made contracts for 



the remainder of the year at 17 cents, while others held off, 

 and have since paid more. 



Rubber shoe and boot manufacturers have also been rather 

 derelict in not looking after their needs in the cotton sheeting 

 market. Sheetings of every description are selling to-day at a 

 material advance over last month's prices, and consumers have 

 paid within a week all the way from }i c. to 1 c. per yard more 

 for sheetings used for linings. There is no reason why rubber 

 manufacturers who are in need of these goods should not cover 

 their requirements for an advance period at to-day's prices, for 

 these will advance from time to time, no one having the temer- 

 ity to even hint at lower prices. On the contrary, it is a safe 

 prediction that in the next issue of this Journal these prices will 

 be much higher : 



FABRICS Kin; THE RUBBER TRADE. 



Forty-inch Majestic C. C 7 1 - 4 cenis. 



Forty-inch Majestic H K. B 63^ cents. 



Forty-inch Majestic B. B b% cents. 



Forty inch, Elcaney 5^ cents. 



Thirty-six inch, India 6 cents. 



Sheetings. 40" Selkirk. . . . 7J4C. 40 Shamrock. .. SJ^c 



40" Ilighgate ... ; ; 4 c. 40" Sellew 7/4c. Ducks. 



40" Hightown. ..6J^c. 48" Mohawk. . .10 c. 40" 701. Ctan- 



40" Hobart 6'..c. 40" Marcus. ..5 c. ford. ... 8 c. 



40* Kingstons. ..7 'jC. 40" Mallory 5 c. 40" 8oz. Chart- 



3g' Stonyhurst.. .5J.4C 36 " Capstans. . ..4 c. res 8J.^c. 



3<j" Sorosis 5 c. Osnaburgs. 40" looz.Carew. ioj^c. 



40' Seefeld 7j£c. 40 Iroquois 8J^c. 40" n 02.Carita.11 J^c 



Canadian rubber manufacturers are still buying American 

 ducks and other cotton textiles. The Canadian parliament 

 has decided to give the United States another chance, and has 

 deferred placing ducks on the list of fabrics coming under the 

 tariff. It is understood that an effort will be made to induce 

 Uncle Sam to grant reciprocity with the Canadian government, 

 in which event, the matter of duty on our ducks will be indefi- 

 nitely deferred. In the meantime the Germans are compelled 

 to pay a duty on all goods sent into Canada. 



An important reorganization of the finances of the United 

 States Cotton Duck Corporation is in progress. 



INTERNATIONAL CABLE DIRECTORY. 



IN view of the great saving of time in the preparation of tel- 

 egrams and cablegrams, the registration of single words to 

 signify the names and street addresses of senders and receivers 

 of messages is steadily assuming larger proportions. In Great 

 Britain and on the Continent these registrations have been gen- 

 eral for many years, because the telegraph and cable companies 

 abroad charge for each and every word in a message, while in 

 the United States the telegraph companies make no charge for 

 names and street addresses. With their steadily increasing 

 foreign trade, Americans are now almost universally registering 

 a telegraphic address, and it is this which called the " Interna- 

 tional Cable Directory of the World "into existence a few years 

 ago. The 1903 edition of this work has just been issued. It 

 Contains the names of thousands of corporations, firms, and in- 

 dividuals, besides their telegraphic addresses, and also some 

 3000 articles of manufactures, the titles of which are printed in 

 English, German, Spanish, and French. The book since its 

 first issue has grown rapidly and now comprises some 600 

 pages. It is most valuable as a book of reference to banks, 

 bankers, manufacturers, merchants, and men in the professions. 

 The publishers have apparently exercised the greatest possible 

 care in the compilation of the work, which is issued in conjunc- 

 tion with the Western Union Telegraphic Code system, now in 

 use in all parts of the globe. [International Cable Directory 

 Co., publishers, No. 17 State street, New York.] 



