COTTON MILLS.
ANA MAI? N G BOOM.
(Per Press Association, Copyright.) LONDON, December X).
The: boom in tin; cotton indus.rj- txlu'iits sin amazing record of ' ftirtuicis made unexpectedly in a low hou».J In many cases managers and fororacn have combined in the piux-h.v-o oJ mills, knowing that tremendo is profits arc assured for bomo years. Two hundred . mills . have changed hands. Frequently five times the 1918 value of mills have boon paid. (An exciting discussion, took place iv cotton circles in Manchester recently regarding tho\ statement by Mr A. Smothursl, a Manchester mill-owner, that it is a sin and. a shame for owners to pocket the profits now being made. Though employers' generally challenged tiie wisdom of tho assertion (writes a, London paper), noc many of them will deny that there is ground for the indictment. A leader oil the operatives' side stated that the profits now being made arc extraordinary. He instanced a mill, the dividends from which this year worked out at 90 per cent. A concern in the Leigh and Athortou district had,, he declared, made so much profit that the directors had on foni- occasions this year paid the operatives double wages in order to keep down tlio figures.) 4 ]
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Bibliographic details
Ashburton Guardian, Volume XLI, Issue XLI, 2 January 1920, Page 7
Word Count
204COTTON MILLS. Ashburton Guardian, Volume XLI, Issue XLI, 2 January 1920, Page 7
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