WOOLLEN INDUSTRY
DEPRESSION IN BRITAIN.
COSTS TOO HIGH. FIRMS GO OUT OF BUSINESS. BY CABLE—PRESS ASSOCIATION—COPYRIGHT. LONDON, Oct. 42. The Bradford employers’ section of the Wool Council, explaining the termination of the agreement, declares that the depression is comparable to that of 1925. Since 1920, '194 firms have gone out of business, including 166,000 spindles, 8596 looms and corresponding quantities of cording, spinning and finishing machinery. The list is continually increasing. It is pointed out that, while wages throughout the country have increased 75 per cent, since the war, wages in the wool industry have increased 100 per cent, and the cost of production has increased 430 per cent. On the contrary Continental wages arc half those of British employees. The industry is retaining only 73 per cent, of the wool supply, compared with 93 per cent, before the war, despite the efficiency of the plants, the ceaseless search for markets and the endless variety of products and styles.
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Hawera Star, Volume XLVII, 15 October 1927, Page 5
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159WOOLLEN INDUSTRY Hawera Star, Volume XLVII, 15 October 1927, Page 5
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