CANADIAN SYNDICATE
MERGER OF TEXTILE FIRMS HUGE PROFITS DISCLOSED MONTREAL, June 8. How 12 financiers formed a syndicate which, by the expenditure of £500,000, merged four textile firms into a company which made £15,000,000, or 97 per cent., profit was revealed at the Government inquiry into the Dominion Textile Company, Ltd. Sir Herbert Holt, president, stated that the companies were merged to “ regulate the industry.” The inquiry following the company’s action in closing the Sherbrooks and Quebec mills, throwing 500 idle. When the Government settled the trade dispute with Japan by lowering the duty on rayon silks the company claimed it could not meet this competition. The Prime Minister immediately announced that the Government would find out the truth of this claim.
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Bibliographic details
Otago Daily Times, Issue 22903, 10 June 1936, Page 9
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122CANADIAN SYNDICATE Otago Daily Times, Issue 22903, 10 June 1936, Page 9
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