LANCASHIRE MILLS

Evening Star, Issue 19632, 11 August 1927, Page 5

LANCASHIRE MILLS

AMERICAN COUGH CROP DECREASE CAUSES ALARM. 4 ______ Press Association—By Telegraph—Copyright. LONDON, August 10. The announcement that the American cotton crop is 4,500,000 bales less than last year has alarmed the Lancashire trade, and raw cotton suddenly rose by 2d per lb. It is reported that a few firms made thousands of pounds profit. A ballot of the American section of the trade resulted in the Master Cotton Spinners’ Association recommending all mills spinning the American staple to close for a week, in addition to the annual month’s holiday. It refers to the deplorable condition of the trade, and states that business at Manchester Exchange is at a standstill. AMERICAN GOVERNMENT'S ESTIMATE. SOARING PRICES. NEW YORK, August 10. (Received August 11, at 10.40 a.m.) An advance of 15 dollars a bale since the publication of the Government’s cotton crop estimate of 13.492.000 bales has raised the value of the 1927 crop by more than 220,000.000 dollars. Prices are now at new high levels for the season, and experts predict that cotton will reach 23 cents per lb, or more should the Government figures prove correct. Rain over the cotton holt is multiplying the infestation by the boll weevil, and is hearing out the crop experts belief that the final output will be 4,000,000 bales below the 192 G yield.