COTTON DEBTS
PAYMENT BY GERMANY Lancashire Spinners’ Dissent SUGGESTED UNITED ACTION (British Official Wireless.) (Received 14, 12.30 p.m.) RUGBY, Sept. 13. A Lancashire spinners’ meeting at Manchester passed a resolution recording that they were not in favour of accepting the German proposal with regard to outstanding German debts. The meeting advised that a special committee be set up to consider the
question. It is understood that under the terms of offer before the meeting German cotton yarn importers offered to pay their old debts, amounting to £267,000, in 12 monthly instalments, and earlier if the British Empire would increase its takings of German hosiery and gloves. They further asked for the resumption of yarn supplies, and new business, to be done at six months’ credit instead of the usual 30-day credit.
The meeting also decided that a special committee would immediately consider the advisibility of approaching the coal and woollen industries to consider united action against Germany.
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Bibliographic details
Hawke's Bay Tribune, Volume XXIV, Issue 233, 14 September 1934, Page 5
Word Count
157COTTON DEBTS Hawke's Bay Tribune, Volume XXIV, Issue 233, 14 September 1934, Page 5
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