COTTON STOCKS
HEAVY OVER-PRODUCTION. [OFFICIAL wireless.] RUGBY, August 11. Heavy losses have been already inflicted on the cotton trade in Lancashire owing to the drop in the price of raw cotton yesterday to the general level of 3.64 d per pound, which is the lowest recorded figure for 31 years. This drop is the sequel to a surprisingly high estimate of the American cotton crop. In addition to this season’s crop, which is expected to yield fifteen Million bales, there are also nine milFion bales, from the previous crops, !n stock in the United States and elsewhere. - The stocks of raw cotton held in England are estimated at almost one million bales, upon which the drop in value amounts in the; aggregate, to about £1,500,000.
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Greymouth Evening Star, 13 August 1931, Page 5
Word Count
125COTTON STOCKS Greymouth Evening Star, 13 August 1931, Page 5
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