CLOTHING PRICES IN 1920.

Taranaki Daily News, 10 April 1920, Page 6

CLOTHING PRICES IN 1920.

NO SIGN OF DECREASE A drapery t.r.iilc correspondent writes to tlie London Times: — Rather more than a year ago, after the signing of tin- Armistice, expectation became 'fairly general among traders that drapery and clothing prices would come down speedily and permanently from the high levels to which they had attained during the war. In that belief many manufacturers, wholesalers, retailers, niid shippers, who had covered their requirements for Reveal months ahendj in anticipation of a prolongation of the war well into 1919, made frantic efforts to cancel their engagements. Government officials in charge of wool textile supplies for military needs were also of this impression, and the official issue prices for wool and tops were reduced several pence per pound, so that "cheaper clothing would be available" As a matter of fact prices did. fall noticeably; but that was merely a temporary decline due entirely to the great majority of buyers "holding oil" the market for a few months. Obviously, the cessation of buying could not continue indefinitely, for stocks were gradually being depleted, and there was only one alternative to replenishing them, and that was to close down altogether and go out of business, Gradually, therefore, home trade buyers %erc forced on the market again, and they found that a vast and steadily increasing volume of urgent business was also coming from the Continent. Quotations immediately began to soar, and have continued to advance ever since. To-day, th iy are far above anything that was thought possible during even the worst days of the war, and they give no indications of stopping in their upward progress. The full measure of the dearth of supplies caused by the war has apparently not been generally realised. Production in a number of the belligerent countries on the Continent was stopped completely for years, and in France and Italy output was of comparatively small dimensions. About 80 per cent, of the woollen trade production in this country was on official account, and the War Office absorbed approximately three-fourths of the output from the wholesale clothing factories. An enormous deficit of supplies for civilian trade was consequently built up during the war, and it will take many months to wipe it off. There are no signs whatever of cheaper clothing during the present year- In every direction the rate? for materials are steadily mounting, and the world demand for apparel is heavily in excess of the world's supply. With the whole world clamoring for greatly increased supplies, there has been a demand on the part of labor in almost every coun-

try for a reduction of working hours, bringing production in many eases down to below the pre-war level, and accentuating still further the wide margin be-

tween demand and supply. Wool, cotton, linen, silk, and artificial silk fabrics all are on a much higher level than ever before., Every manufacturing cost, including (he very important one of labor, continues to advance. A drop in raw wool rates was admittedly

recorded at the last auction sales in London and elsewhere, but .this has exercised no effect on quotations for yarns or pieces. Necessarily values of the raw materials govern to some extent prices for the made-up goods, out in regard to woollens and worsteds the principal factor is the output from the spinning mills, the dyers, and the weaving sheds. Even during the past week woollen manufacturers have notified further advances. To take one case alone, approximate prices quoted only six weeks ago have been raised 2s 3d. a yard for overcoatings for next winter season. The great difficulty with many producers of clothing and drapery is to obtain adequate supplies of materials. Buyers who have delayed purchasing in the fear that values might tumble after they had bought, now find themselves caught short, and to keep their factories going they will be compelled to pick up supplies wherever they can and at whatever price is demanded of them. Silk has become a difficult problem recently, and the situation is likely to become worse- The consumption of silk goods throughout the world, and particularly in the United States, has increased enormously in the last few years, and, on the other band, production has sensibly diminished. Prices continue to advance. ' Fell hats are greatly below demand, mainly on account of the lack and the extraordinarily high prices of the fur for the better qualities, and a dearth of female labor for the trimming processes. Open orders arc being placed for 1921 delivery.. Quotations for men's straw "boater" hats are up 23 to 30 per cent.

on a year ago, Japanese plait merchants having broken their contracts with English importers and sold the straw at much higher prices to American and other buyers. Supplies will in consequence be short, and merchants have been rationed. Even if rates for raw materials break in !the coming months this will not affect apparel prices for some time afterwards, as practically all cloth purchases for next autumn and winter have been made, and, in addition, much business has been placed for the spring and summer of 11)21.