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 ]
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AG19200102.2.41
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
Using This Item
Ashburton Guardian Ltd is the copyright owner for the Ashburton Guardian. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Ashburton Guardian Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in