OVERDONE.
COTTON SPECULATION Industry Over Capitalised In Britain. DISQUIETING- FEATURE. (By Cable.—Press Association.—Copyright.) (Received 9.30 a.m.) LONDON, April 2. The Committee of Industry, under the chairmanship of Sir Arthur Balfour, has published its report on industrial and commercial efficiency.
This says there is no question that the gigantic financial operations whereby so many Lancashire cottonspinning mills became' over-capitalised, has seriously added to the economic difficulties of the cotton industry.
It is a disquieting feature that shrewd businessmen should have allowed a great staple industry to fall so easy a victim to speculators and company promoters.
The report points out that migration of British mfin overseas is now less than half of the pre-war figure, attributable to the American Immigration Act and Australia's and New Zealand's discouragement of any but rural migrants.
— (A. and N.Z. and Sydney "Sun.")
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Bibliographic details
Auckland Star, Volume LIX, Issue 79, 3 April 1928, Page 7
Word Count
137OVERDONE. Auckland Star, Volume LIX, Issue 79, 3 April 1928, Page 7
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