LANCASHIRE'S HOPE
THE COTTON INDUSTRY
SPINNERS FORM COMBINE
Press Association— By Telegraph—Copyrign*.
LONDON, June 13. Finns representing 1,000,000 spindles and 5,000 looms have agreed to join a huge new combine known as the Lancashire Textile Corporation, with a view to controlling production and prices. The president, at a meeting of the Cotton Yarn Association, expressed the opinion that the new corporation, supported by oil sections of the tniuCj tvos Lancashire’s only hope. The truth must ho realised that every pound of yarn was at present being sold at a joss. Spinners wore losing £l,lOO an horn- on wages and running expenses, plus £1,408 an hour as depreciation. Tliis was equivalent to £6,000,000 pci year.—Australian Press Association.
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Bibliographic details
Evening Star, Issue 19892, 14 June 1928, Page 4
Word Count
116LANCASHIRE'S HOPE Evening Star, Issue 19892, 14 June 1928, Page 4
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