January i, 1903 J 



THE INDIA RUBBER WORLD 



131 



THE TEXTILE GOODS MARKET. 



THE year 1902 has been a record bic^ker so far as the tex- 

 tile and rubber trades are related. It would be a diffi- 

 cult matter to say just what has been the percentage of increase 

 in the consumption of cotton duck and sheeting during the past 

 twelve months over the previous year, but persons in the best 

 position to speak declare that it has a material one. Further- 

 mprei there is every reason to believe that the coming year is 

 going to ^e still better. It is an easy matter to forecast the 

 trade in these fabrics, for the consumers base their advance or- 

 ders upon the consumption during the past year, and from year 

 to year these orders have been increasing until they have now 

 reached a volume nearly 50 per cent, above those five years ago. 

 It merely means that the rubber trade is constantly expanding. 



The December number of The India Rubber World con- 

 tained references to a contemplated movement on the pan of 

 the Canadian parliament tocheck the importation of American 

 cotton ducks into the Dominion by placing a 25 per cent, tariflf 

 upon the goods. While steps have been taken by American 

 manufacturers to thwart such a plan, it would be premature to 

 make them known at this juncture. It can be said, however, 

 th3t if the Canadian powers desire to place an embargo upon 

 American goods by instituting new tariff methods, there is 

 nothing that can prevent them, but it is possible to counteract 

 such a duty by inaugurating new methods on this side. 



There is constantly growing competition between the manu- 

 facturers of rubber belting and the manufacturers of stitched 

 belting. This is true in Canada as well as in the United States, 

 and one of the singular features in connection with the strife 

 for business is the fact that some Americans are working hand 

 in hand with the Canadians. During the past month a company 

 was organized for the purpose of manufacturing stitched belt- 

 ing in the Dominion. It is known as the Stitched Belling Co. 

 a-id is capitalized at $50,000. Considetable of the stock is held 

 by New Yorkers, who also hold the offices. It is understood 

 that the new concern has been incorporated for the explicit 

 purpose of competing against the rubber manufacturers in 

 Canada. Several harvesting machine concerns in the Domin- 

 ion are large consumers of rubber belting, and the new com- 

 pany proposes to make a bid for this business. There is no 

 denying the fact that stitched belting is making inroads upon 

 the rubber belling trade, and it is being encouraged by the 

 Canadian manufacturers of cotton duck, who, of course, view 

 the situation from a mercenary standpoint. It will furnish them 

 an outlet for their product, which is now almost a drug on the 

 Canadian market on account of the competition of American 

 gouds. 



December has not been conspicuous for its sales of cotton 

 iduck or lighter weight sheetings. Rubber manufacturers, how- 

 ever, have been calling for the goods which they ordered dur- 

 ing the previous month, and these demands have been such 

 that the cotton duck mills have been kept exceedingly busy. 

 It is doubtful if there has been a cotton duck loom idle unless 

 it has been for the want of practical weavers to operate it. 

 Rubber manufacturers seem to be satisfied with the course 

 they pursued in placing their orders for the year last Septem- 

 fber and. October. Were the same contracts to be made on the 

 basis of the raw cotton market to day it is doubtful if the price 

 woutd be as low. The most recent report on the raw cotton 

 crop, by Colonel H. G. Hester, secretary of the New Orleans 

 Cotton Exchange, shows that the amount of cotton brought 

 into sight during the no days of the present season was 6,130,- 

 992 bales, an increase over the same period last year of 127.599 

 bales. The exports were 3,085,878 bales, a decrease of 39,922 



bales; taken by northern spinners, 887449 bales, a decrease of 

 32,000; by southern spinners, 754,398 bales, an increase of 76,- 

 398. Prices have been gradually creeping up, and the market 

 to-day shows an advance of about twenty-five points over the 

 figures on December r. The speculation in futures has been 

 only moderately active, but some traders have been inclined to 

 regard the bullish factors in the market with more favor, and 

 their influence has been felt. The receipts have been falling 

 off, and day by day they are growing lighter as compared 

 with last season's showings. Those who care, are left to con- 

 strue these conditions to mean that the crop is a. .light one. 

 Those who take a more hopeful view of the situation have not 

 to look far for conditions explanatory of the change. Plant- 

 ers are feeling quite independent and are unwilling to part 

 with their holdings until they feel assured they are getting the 

 best prices consumers are likely to offer. The warring ten- 

 dencies leave the general market in a rather flat state, and 

 while the trend of prices is upward the movement in that 

 direction is a slow one. Neither spinners nor exporters have 

 been buying Ireely of late, evidently hoping that the current 

 estimates of a large yield might have the elTect of reducing 

 the rates on spot offerings. The following figures show the 

 price of spot cotton at the port of New York, New Orleans, 

 and Liverpool at the close of each week in December: 



New York. New Orleans Liverpool. 



December 6 ^ 8 50c. Tif c. 4.46'' 



December 13 855c. 8l^c. 4.520'. 



December 21) ^ 8.70c. 8J^c. 4'5'"' 



December 27 8.75c. S^4c. 4 54«'- 



Boot and shoe m.rnufaclurcrs have bought comparatively 

 little sheeting durin^ the month. There have been an abun- 

 dance of inquiries for goods, and consumers seem to feel that 

 if they were certain that raw cotton is not going to recede from 

 its present price level they would attempt to cover themselves 

 on the goods they use. The fact that the Chinese buyers have 

 awakened from their lethargy of several months, and are now 

 daily placing orders for heavy brown sheetings and drills, certain- 

 ly does not have a bearish influence on the goods market. Dur-' 

 ing the past week more than 50,000 bales of these goods were 

 purchased for the Orient, and the movement is keeping up. 

 The chief business has been done in nearly everything fiom 

 standards up to 3 25 yard goods, and the price paid was close 

 to the asking figure. Sellers became easier to deal with when 

 they saw that exporters were payiiy all they could afford to, 

 and the result has been to stitTen prices all around. It there- 

 fore seems needless for the rubber manufacturer to look for 

 better prices immediately on sheetings. On the other hand^ 

 it is more than probable that prices on all cotton goods will re- 

 main firm for some time to come. Following are the current 

 quotations for cloths used most by the rubber trade : 



Forty inch, 2,50 (>H cents. 



Forty inch, 2 70 -. , ..53i( cents. 



Forty inch, 2.85 ■ -5% cents. 



Forty inch, 3 60 4^ cents. 



Thirty-six inch, 3-y:i d 5}^ cents, 



AMAZON STftAM NAVIGATION CO. 



TO THE Editor of The India Rubber World: The 

 directors of the Amazon Steam Navigation Co., Lim- 

 ited, at their meeting to daw Hive declared a dividend on ac- 

 count of the current year of 2 per cent., or 5 shillings per 

 share, free of Income tax, payable on and after January 6, 

 1903. The transfer books of this company will be closed from 

 Monday, December 22d inst.,to Monday, January 5, 1903, both 

 days inclusive. G. STREET & CO., limited. 



30, Cornhill, London, December, 17, igoa. 



