Word: silks
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Dates: during 1930-1939
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...textile fibers take time to demonstrate which parts of the mammoth fiber market properly belong to them. Unlike Du Pont's nylon, which is mostly aimed at silk hosiery trade, Vinyon appears to be aimed at more varied markets...
This squeeze may be a sign rather that the Japanese are desperate than that they are smart. They might lose their silk market forever. Last week in Wilmington, Del., Du Font's sheeny, much-publicized nylon hosiery went on sale at $1.15, $1.25, $1.35 (for different gauges), sold quickly when salesgirls claimed that one pair of them would outwear four of silk, that they would dry in ten minutes when washed. As material for full-fashioned hose a previous silk substitute, rayon, was a lame competitor to silk but nylon and its brother synthetics now in prospect...
...clever Japanese calculated that about 57% of their exports to the U. S. are raw silk, and that 52% of the silk is knitted into full-fashioned women's hosiery. The Japanese have observed that, at least in cities, U. S. women cannot do without silk stockings, and silk stockings wear out continually so that even a temporary buyers' strike is next to impossible. So by last week raw silk cost U. S. hosiers as much as $3.55½ a nine-year peak price, up nearly $1 since August, up $1.75 since December. U. S. silkmen were full...
...Japanese explained that the price rise could not be avoided. Fearing a domestic inflation, Japanese people were hoarding silk. Furthermore the 1938 cocoon crop was very small. Trans-Pacific shipping costs had risen since the War started. Total stocks of silk on hand in Japan were estimated to be very low. Besides which the Japanese, to conserve foreign exchange, were buying garments of native silk, instead of imported cotton or rayon made from imported wood pulp...
...Recent figures show that though visible (about-to-be-shipped) silk stocks in Japan are the smallest in years, speculators are holding thousands of pounds in the interior. And the Japanese Government, which strictly forbids speculation in other commodities, does not mind in this case. > Textile-statisticians last spring observed that there was a discrepancy in Japanese silk statistics. The Japanese said that domestic consumption of silk goods was sharply up, they said elsewhere that production of silk fabrics was declining instead of increasing. Last week this discrepancy no longer existed. Reason: the Japanese had given up publishing statistics...