22 
BULLETIN 1444, U. S. DEPARTMENT OF AGRICULTURE 
Table 13. — Mill takings of American cotton: Percentages by months, 1912-13 
to 1922-23 
Month 
August 
September 
October 
November 
December 
January *. 
February 
March 
April 
May 
June 
July 
1912-13 
P.ct. 
12.5 
12.5 
11.1 
7.9 
7.9 
6.7 
5.9 
5.4 
6.1 
1913-14 1914-15 1915-16 1916-17 1917-18 1918-19 
P.ct. 
7.9 
7.2 
11.0 
11.0 
10.7 
9.1 
7.6 
7.5 
9.8 
6.5 
6.5 
5.2 
P.ct. 
4.4 
6.1 
8.9 
9.9 
10.6 
9.7 
7.0 
11.5 
9.2 
8.1 
7.9 
6.7 
P.ct. 
5.1 
5.7 
8.1 
9.9 
10.2 
9.9 
9.0 
9.6 
8.4 
8.9 
7.4 
7.8 
P.ct. 
6.1 
6.4 
10.5 
11.9 
9.2 
8.5 
8.5 
7.7 
8.7 
P.ct. 
6.7 
6.7 
8.6 
12.3 
5.3 
7.2 
9.7 
9.9 
7.6 
P.ct. 
7.7 
8.7 
10.2 
11.1 
8.9 
9.1 
6.2 
6.8 
6.3 
7.8 
7.1 
10.1 
1919-20 1920-21 
P.ct. 
6.3 
6.5 
8.0 
10.7 
11. 1 
9.8 
8.3 
8.3 
7.3 
7.6 
7.6 
8.5 
P.ct. 
8.4 
7.3 
8.8 
8.8 
8.5 
7.5 
7.6 
7.8 
9.1 
9.4 
1921-22 1922-23 
P.ct. 
7.1 
6.8 
9.1 
12.5 
9.7 
8.7 
7.5 
3.8 
8.0 
7.8 
8.1 
10.9 
P.ct. 
7.6 
6.1 
8.8 
10.7 
10.4 
9.1 
7.7 
6.9 
7.8 
5.1 
9.8 
10.0 
Compiled from southern consumption plus northern mill takings, a= reported in the New York Com- 
mercial and Financial Chronicle. 
The report of cloth sales is the other index of activity in the 
spinners' markets. The sales at Fall River, particularly significant, 
are reported by weeks. Such figures have greater value when it is 
known whether sales are made out of hedged stocks on hand, or are 
sales of cloth still to be manufactured. 
Table 14 shows the sales of print cloths at Fall River, for the nine 
years beginning with the year 1914-15. Other figures which indicate 
the degree of mill activity, such as the number of active spindles 
and the number of bales consumed, are published monthly by the 
Department of Commerce. 
Table 14. — Sales of print cloths at Fall River, August, 1911f-July, 1923 
[Thousands— i. e., 000 omitted] 
Month 
August. __ 
September 
October.. . 
November 
December. 
January.. . 
February . 
March 
April 
May 
June 
July 
Average 
1914- 
1922 
Pieces 
583 
712 
581 
476 
594 
600 
491 
827 
555 I 
592 
551 ! 
325 
Pieces 
285 
500 
730 
440 
696 
842 
506 
770 
300 
850 
491 
Pieces 
lib 
890 
490 
600 
921 
690 
800 
1,190 
670 
420 
520 
450 
Pieces 
1,470 
1,050 
825 
590 
385 
320 
655* 
1,708 
820 
740 
800 
250 
Pieces 
600 
790 
840 
1,010 
730 
590 
430 
875 
430 
565 
630 
350 
Pieces 
570 
240 
275 
90 
200 
200 
180 
630 
1,180 
1,080 
660 
360 
Pieces 
310 
680 
740 
520 
690 
620 
270 
490 
420 
145 
240 
140 
Pieces 
150 
340 
60 
50 
155 
850 
380 
440 
335 
570 
390 
420 
Pieces 
620 
720 
390 
340 
870 
395 
580 
540 
650 
800 
890 
540 
1922-23 
Pieces 
470 
1,200 
875 
615 
800 
190 
160 
335 
135 
Compiled from Shepperson, A. B. cotton facts, Edition of 1923, New York, p. 190. 
The figure as shown for each month is the sum of the sales reported for the weeks ending on Fridays 
of that month. 
PRICE MAKING IN SPINNERS' MARKETS 
Price making in a spinners' market is largely concerned with 
bargaining on the "basis" or parity between spots and futures. 
Prices are made in American markets in terms of New York or New 
Orleans futures. The bargaining points are the " on " or " off " for 
grades above or below Middling, the " on " or " off " for different 
