Net prices on cotton yarns f. o. b. American market (in pence per pound)—Continued. Glove yarns, hank or cheese-Gray combed Egyptian Hosiery yarns, mercerized, on cones: Carded brown Egyptian.. Combed Peeler. Hosiery yarns, mer- Carded brown Combed Peeler. Hosiery yarns, gray 99/2 1202 140/2 150/2 160/2 170/2 | 180/2 | 190/2 2002 220/2 240/2 250 2 260 2 lisle: Referring to the above quotations the exporter furnished the following information as to the charge for putting yarns upon cones or tubes: For gray yarns (i. e., not mercerized, bleached, dyed or prepared) the prices for cones or tubes would be exactly the same as for yarns in bundle, the cost of putting the yarn onto cones or tubes being no more than that of reeling it into bundles. In the case of prepared, mercerized, dyed or bleached yarn the matter is different, as the spinner must first reel or warp the yarn in order that the mercerizer, etc., may deal with it and afterwards get in onto cones or tubes. This difference in cost is, I think, sufficiently shown as between the prices we give for mercerized yarn in hank and for the same yarn on cones, and you get a further comparison with the gray lisles in hanks which takes you back to practically the basis of the other two. I should explain the word "prepared." This term shows that the yarn has been flattened. This process can only be done in hank and there is therefore, in yarn so treated, the extra cost of coning and spooling which would be just about 1 per cent less than the difference between mercerized hanks and mercerized spools. A CONTRAST OF ENGLISH AND AMERICAN YARN PRICES IN 1913. The following data as to English and American selling prices of cotton yarns was published by the Textile World Record in its issue of July, 1913, and affords a contrast for the period just before the enactment of the last tariff act. The editor stated that the English prices were obtained by its correspondent from the secretary of the Bolton Chamber of Commerce. The above contrast from an independent source gives a fair comparison, though, as in the case of all such comparisons, its correctness depends on the care used in selecting exactly comparable yarns. To the English price plus duty there would have to be added freight, insurance, and other intermediate charges; also, where handled through a yarn importer, the expenses and profit of the importer, to get the actual competitive price on the American market. It is seen that the margin between the selling prices in England and in the United States widens with the increase in fineness, but that on ordinary counts below 60s the English could not compete in price on the American market with domestic yarns. Such a conclusion is in line with other testimony. THE OFFICIAL MAXIMUM YARN PRICES OF 1918. In accordance with an agreement between the Price-Fixing Committee of the War Industries Board and the War Service Committee of the National Council of American Cotton Manufacturers, there were established on July 1, 1918, maximum prices on certain standard cotton cloths. Differentials were subsequently agreed on for other cotton goods. On August 24, 1918, there were established maximum selling prices on cotton yarns. These "Government prices," as they were called, were announced as applying to all sales up to October 1, when there was to be a revision based on cost and price data to be supplied by the manufacturers. On September 25 it was announced that in the absence of the receipt of sufficient data for a more accurate adjustment of prices those already established would be continued to November 16. At the request of the War Industries Board an extensive investigation of cotton mill production costs was undertaken by the Federal Trade Commission, but the armistice occurred before this work could be completed. By agreement the operation of the existing schedule of fixed prices was extended to December 31, 1918, and then terminated. During the war prices had been increasing, and in the early part of 1918 the huge textile purchases made or contemplated by the American Government caused the market to advance by leaps and bounds. In establishing maximum prices on cotton yarns and cloths the main idea was to stabilize a run-away market and to peg the advance until fair prices could be figured on the basis of actual conditions. It was realized that the fixed prices, although a reduction from the crest of the speculative wave, were considerably above costs, but the necessity of stimulating production was deemed paramount at the time and the representatives of the Government also considered the fact that the excess profits tax would insure part of the exceptional margin reverting to the Treasury. The manufacturers continued to make record earnings and the excess profits tax yielded large returns. Owing to the termination of hostilities the tentative schedule of prices was not revised as contemplated. It may be noted that though the level of the official prices was very high there was a steady decline in the imports of cotton yarn. This was due to the fact that the normal slight margin between the price of cotton in England and in the United States had widened to such an extent that English yarns were costing even more than the American, and there could be no imports except of specialties unobtainable here. Although the maximum yarn prices as arranged by the manufacturers and sanctioned by the Government had little relation to actual costs, they are interesting as showing what the manufacturers themselves regarded as fair differentials at that time between different counts and qualities. For instance, on 40s yarn made of 11 to 1 inch staple, the differential between carded and combed, and the differential between single and ply, were set at the same figure, which would imply that the cost of combing 40s was the same as the cost of doubling 40s. The fact that on any particular date there are many and widely varying prices on the same count is clearly illustrated; for instance, the Government prices on 36s, single and ply, were as follows: It is seen that the official prices for 36/1 ranged from $0.835 to $1.175, a difference of 41 per cent, whereas on 36/2 they ranged from $0.86 to $1.29, a difference of 50 per cent. The Government prices were adjusted for weaving and knitting qualities and if they had included specially processed yarns for the lace and other special industries the price ranges would have been even greater. GOVERNMENT MAXIMUM YARN PRICES PROMULGATED AUGUST 24, 1918, AND CONTINUED TO DECEMBER 31, 1918, ON WEAVING AND HOSIERY QUALITIES. Prices, in cents per pound, for carded warp twist yarns, made from not better than middling upland cotton follow: For above yarns made of strict to good middling cotton an advance in price of 24 cents per pound is made, making schedule for such yarns as follows: Count. Price... Count.. Price .8 and below 10 12 13 14 16 18 20 22 23 24 26 28 60 60 61 62 62 64 654 67 69 70 71 73 75 30 32 34 35 36 77 841 86 For above yarns made of staple cotton of strict to good middling grade, not less than 11 inches and not over 14 inches, an advance in price of 4 cents per pound is made over above schedule, making prices for such yarns as follows: Over 30 and not over 36 rise of 14 cents per number. On yarns of staple cotton in counts 36 to 50 the rise is 1 cent per number. For ply yarns prices are as follows: On yarns made of nor better than middling upland cotton for 2-ply to 7-ply, 1 cent per pound has been added to the single-yarn prices for twisting counts 88 and below and not over 10-- 1 cents per pound for counts over 10 and not over 14. 2 cents per pound for counts over 14 and not over 20. 2 cents per pound for counts over 20 and not over 36. making prices as follows: On yarns made of strict to good middling cotton for 2-ply to 7-ply, 1 cent per pound has been added to the single-yarn price for counts 8s and below and not over 10— 11⁄2 cents per pound for counts over 10 and not over 14. 2 cents per pound for counts over 14 and not over 20. 24 cents per pound for counts over 20 and not over 36, making prices as follows: For twisting any of above yarns in counts Es to 12s in plies 8 to 12 ply, an advance of 1 cent per pound is made over prices named above for 2-ply to 7-ply, and for twisting them 13-ply to 60-ply an advance of 14 cents per pound is made over prices named for 2-ply to 7-ply. For Brownell or Haskell-Dawes tube twisted yarn in counts 8 to 12, an advance is made of 4 cents per pound over the price for singles. inches On yarns made of strict to good middling staple cotton, not less than 1 and not over 1 inches, for any standard ply there is added to the price of the single yarn, 5 cents per pound on No. 10s and an additional ber finer than 10s, making the following prices: cent per pound on each num The prices named above are for commercial skeins, tubes, cones and section beams of standard put up. For ball or chain warps 1 cent per pound extra will be added. For reverse twist 5 cents per pound advance over regular twist will be added. For cabling up to No. 30 a charge of 64 cents per pound will be added t› the price of single yarn. |