EGYPTIAN COTTON
BRITISH PURCHASE OFFER [BRITISH OFFICIAL WIRELESS.] RUGBY, November 19. The Minister for Supply (Dr. E. L. Burgin) announces that the British Government has informed the Egyptian Government that in its desire to assist in the orderly disposal of the cotton crop, it is prepared to buy up to a maximum of 155,000,000 pounds of Egyptian cotton, which is approximately the equivalent of the quantity previously exported to Germany and Ger-man-occupied territory. Britain’s purchases will be made only if cotton prices weaken below closing prices on November 11 at Alexandria, and will be continued for so long as they remain below that level. It is not intended to place this cotton on the market at present, since this would discourage buying on commercial account, but it is not possible 'to give an undertaking as to the future until the statfc of the demand and the position of supplies from other sources as affected by shipping and other considerations can be better judged than the present information allows.
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Greymouth Evening Star, 21 November 1939, Page 7
Word Count
168EGYPTIAN COTTON Greymouth Evening Star, 21 November 1939, Page 7
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