Word: cottonmen
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Such improved synthetics have cut into the market for Old King Cotton. In one generation the percentage of cotton-fiber sales dipped from 85% to 65% of total U.S. fiber sales. But cottonmen are fighting back by developing goods with wash-and-wear finishes. Most of Dan River's cottons are now treated with finish that produces drip-dry, wrinkle-free cotton shirts, bedsheets...
...support law before serious harm is done to the "longrun interests of our farm people." But last week influential farm-bloc Congressmen passed the word that there will be "no action this year." On commodity markets, cotton futures jumped $1 to $3.65 a bale in a single clay as cottonmen got set for higher prices and higher supports...
...year's crop to 13 million bales, or about this year's level. Furthermore, under the new soil-bank program Benson hopes that farmers will increase the number of acres taken out of production well beyond last year's 1,064,000-acre total. Though some cottonmen fear that only the poorest acreage will be allowed to lie fallow, and that farmers will produce as much as ever by working their remaining acres harder, most applaud the program...
While many cottonmen cry for higher tariffs or strict import quotas, the Administration is determined not to give in. Textilemen want protection, demand restrictions on Japan, which is "flooding" domestic markets with cheap finished cotton goods, forcing the closing of some U.S. mills. Actually, Japanese exports to the U.S. are barely 2½% of the U.S. cotton-goods market. Moreover, Japan is also one of cotton's best customers, bought $120 million worth of raw cotton last year from the U.S. To still the protests, the U.S. has worked out agreements for voluntary curbs, e.g., Japan has pledged...
...Angeles' Biltmore Hotel was rife last week with the easy slur of Southern accents. In the haze from their cigars, big cottonmen from the South gleefully watched pretty models step in & out of cotton garments, parade cotton bathing suits, evening gowns and house dresses nimbly converted from cotton feed bags. The National Cotton Council, for the first time since it was formed in 1938, was holding its annual convention in California...