204 



THE INDIA RUBBER V/ORL.D 



[March i, 1903. 



THE TEXTILE GOODS MARKET. 



THE prediction in these columns last month ol a rising raw 

 cotton market appears to have been an accurate forecast. 

 The upward tendency to prices on cotton options and spot 

 offerings, so pronounced during the latter part of January, has 

 continued unabated, the spot cotton in the local market is 

 worth fully a cent a pound more than it was four weeks ago. 

 Manufacturers are endeavoring to cipher out what the market 

 is going to do next, to do which they are compelled to consider 

 the commercial crop during the past three years. Last year it 

 was 10,700,000 bales; the year before 10,400,000 bales, and in 

 1900 it was 9,435,000 bales. In each of these years the mills 

 consumed more than the crops raised, the consumption during 

 one of these years being at least 1,000,000 bales in excess of 

 the crop. Stocks everywhere in spinners' hands, in foreign 

 ports and here in America, were thus of necessity reduced to 

 the lowest ebb. Thi. was the situation at the opening of the 

 present season. Professional crop estimators having held out 

 hope for 12,000,000 bales, the actual results caused some uneasi- 

 ness. Spinners were among the most credulous, and they bought 

 from hand to mouth until such time as the receipts left no 

 question as to the real situation. But the spindles soon reached 

 a period where cotton was needed instead of explanations, and 

 spinners awoke to the fact that they had been caught without 

 cotton and with large orders in hand for goods. Then sprung 

 a demand for cotton, and it has been in evidence since, which 

 is the reason for the recent advance in the cost of the staple. 

 Thirteen years ago a condition identical with the present one 

 existed. 



One of the curious features of the present situation is that 

 cotton people, with the exception of a few instances, have made 

 little money on the rise. To them 10 cents looked too high, 

 and they were tempted to go short even et 9 cents, much to 

 their subsequent regiet and loss. On the other hand, the Stock 

 Exchange following has realized heavy profits. Knowing little 

 and caring less for statistics, they have followed the advice of 

 their brokers, and bought recklessly at prices that would 

 frighten even a wise cotton expert. But when this campaign is 

 over it will be found that the impelling force has been, not the 

 size of the crop, over which the cotton trade is now wrangling, 

 but the phenomenal consumption of cotton goods. The limit 

 has not yet been reached, and still higher prices will be seen. 

 The following figures show prices of spot cotton on each Thurs- 

 day for February : 



New York. New Orleans. Liverpool. 



February 5 9 05c. S^c. 4 821/ 



February 12 9 50c. q'^c. id 



February ig q.8oc. 93^c. S-2(id 



February 20 1005c. 9iJc. 5-30'^ 



Rubber nidnuluctuiers 111 all parts of the United States have 

 been consuming cotton ducks with greater rapidity than the 

 most optimistic of them had anticipated when they placed or- 

 ders for their supplies last fall. Requisitions have been pour- 

 ing in at a rate that has made it necessary for the textile mills 

 to keep their looms in full operation at full time. The rubber 

 trade has reason, too, to congratulate itself upon having made 

 a long term contract for cloth at prices much lower than it 

 would be possible for them to do to-day, with raw cotton fully 

 lyi cents above the range six months ago. It is possible that 

 some rubber mills have not contracted for sufficient stocks to 

 carry them through the year, but it is understood that sellers, 

 in such cases, will accept reorders on the same basis, as the 

 cotton out of which the goods are to be made was bought be- 

 fore the advance, although it is optional with the textile manu- 

 facturer as to what course he will pursue in such cases. Belt- 



ing manufacturers also are going ahead with increased capac- 

 ity to meet a fast growing demand, coming largely from the 

 West. Rubber boot and shoe manufacturers have been more 

 keenly impressed than ever before of the advisability of adopt- 

 ing the plan pursued by consumers of duck, that is, to order 

 goods by the year. 



It will be seen by the subjoined figures that prices of 

 sheetings have advanced about hall a cent per yard since the 

 previous issue of The India Rubber World: 



Forty-inch, 2. 50 ^M^c. 



P'orty inch, 2.70 fej^c. 



Forty-inch, 2 85 fij-^c. 



Forty inch, 3.60 b}ic- 



Thirty- six inch, 3-yard Sj'gc. 



The above prices are current quotations, but by the time 

 they reach the eye of the reader it is possible that they will 

 have advanced another fraction, for the market is extremely 

 active and sellers are compelled to hold prices firmly at the 

 top notch. Southern mills are in a well sold condition, and it 

 would be difficult to get satisfactory deliveries on almost any 

 line of sheetings in general use by the rubber trade. 



No better evidence is needed that the rubber manufacturers 

 of the Dominion are constantly on the qui vive than to call at- 

 tention to the fact that they are in a very satisfactory position, 

 no matter what the Canadian government may decide to do in 

 reference to tariff matters at the coming meeting of parliament. 

 In anticipation that the cotton duck manufacturers in Canada 

 had reached a point when they would be asking for protection 

 against American goods invasion, these rubber manufacturers 

 have ill their possession all the cotton ducks they will require 

 for the present year's consumption. Parliament will meet in 

 Ottawa on March 4, and it is understood that one of the first 

 measures taken up will be the tariff. Of course the rubber 

 manufacturers of the Dominion will oppose the matter, because 

 it will militate against their interest. Having established a 25 

 per cent, tariff on American cotton ducks, the manufacturers 

 of Canada would at once put the price of their ducks at least 

 15 per cent, above the present cost of the American product, 

 and the rubber men would be compelled to pay it, as it would 

 be the best they could do under the tariff law. Measures are 

 being taken here, however, that may circumvent whatever 

 may be the outcome of the new tariff movement on the other 

 side of the Niagara. 



BALATA INDUSTRY OF SURINAM. 



THE discovery of the Balata forests by the expedition under 

 the leadership of Major Bakhuis [reports the German 

 consul at Paramaribo], in the upper Coppename district, ought 

 to assist the development of the Balata industry, which is just 

 beginning to show new signs of life, to a great extent. Experts 

 report that the exploitation is profitable to such a degree to 

 warrant the building of a railroad through the district. The 

 export of Balata from Surinam during the first half of the year 

 amounted to 85,000 kilograms. Owing to excessive rains dur- 

 ing this year, tappings to any extent could not be made, as the 

 Balata would be too watery. A deplorable feature has been 

 noted in the Balata exploitation, which is being investigated. 

 It seems that the gatherers in order to increase the quantity, 

 have added inferior saps of rubber-like trees ; a practice which 

 materially decreases the value of the product. 



The Osterreichisch-Amerikanische Gummifabrik-Aktienge- 

 sellschaft (Vienna) have resolved to issue a 4>^ per cent, loan 

 ol 1,500.000 kronen [=$304,500'], to be financed by the Wiener 

 Bankverein. 



