PRICE OF COTTON

Evening Post, Volume XCIX, Issue 57, 8 March 1920, Page 8

PRICE OF COTTON

CONTROLLED FROM GLASGOW

CONSUMER PAYS 50 PER CENT. . MORE. There has for some time past been considerable complaint amongst consumers in respect of continued increases in the price of cotton thread. The Board of Trade has recently made investigations into the matter and reports that the prices are practically controlled I from outside the Dominion. There is a I central selling agency in Glasgow, with a branch in New Zealand, which is virtually the selling organisation of the cotton combine. No direct or distinct profits are made by the New Zealand branch, since there is no question of purchase by it. The recent increase in prices was advised by cable from the central agency on Monday, 16th February, and all orders for immediate delivery in the firm's hands before receipt of the cable were executed at the old prices; orders received since and orders for delivery after the 16th were filled at the new prices, which average an increase of about 25 per cent. On the main selling line ordinary sewing cotton in 200-yard reels, the increase was from 52s to 78s per gross —an increase of 50 per cent. The Board of Trade is considering the question of any increase in prices of stocks in hand or held on the water for transit for New Zealand.

The board is further considering and investigating the prices of leather in Auckland in relation to the recent rise in the price of hides. . .