COTTON TRADE CRISIS.

New Zealand Herald, Volume LXVI, Issue 20323, 2 August 1929, Page 13

COTTON TRADE CRISIS.

NEW FACTOR CREATED.

A ROYAL COMMISSION.

TERMS OF REFERENCE,

COURTAULDS* FACTORY SHUT

Australian mid N.Z. Press Association. (Heccivcd August 1, 11.25 p.m.) LONDON. Aug. 1

Tho Prime Minister, Mr Ramsay MacDonald, has appointed the following to !>h a sub-committee of the Committee of Civil Research, to inquire into the cotton industry Mr. W Graham, president of the Hoard of Trade, chairman; Mr A V Alexander. First Lord of tho Admiralty. Sir Alan Anderson, of the Orient Lino; Mr Joseph Jones, and Sir William McLintock

The terms of reference will bo: "To consider and report upon tho present con dition and prospects of the cotton in dustry. and to make recommendations as to any action which may appear desirable and practicable in order to improve the position of this industry in the markets of the world."

Mr Jones is secretary of the Yorkshire Millowners' Association Sir William Me Lintock is the senior partnei of ['horn son. McLintock and Company, chartered accountants He has iieen a member of the Royal Commission on Income Tax. tho National Debt and Taxation Committee, and tho Unemployment Insurance Com mittee.

Tho decision of tho Government to have the inquiry held creates a now factor in the Lancashire crisis.

It is announced tliaj tho operative spinners —whose repiesentatives already have indicated their willingness to accept tho principle of a reduction in wages, but a desire to negotiate as to tho amount — have decided to refer the whole question to the districts. They will meet again on Monday.

Tho attitude of the workers in the trade generally was summed up by tho president of tho Weavers' Union. He wants the nulls to be reopened at the old rates of wages and then a discussion to solve the difficulties. Courtaulds have closed down their artificial silk factory at Nuneaton, where 1500 workers were employed. The factory is to remain closed until August 12, when tho position will bo reviewed.