THE COTTON MARKET

Otago Witness, Issue 2929, 4 May 1910, Page 30

THE COTTON MARKET

RECORD PRICES FOR SEED. NEW YORK, April 25. As the cotton crop must be replanted, prices for seed have reached a record figure in New Orleans. There was also a. big jump in cotton in New York and New Orleans. The frost has killed half the cotton crops in Georgia. April 26. Damage to the cotton crop is reported from Alabama, and thousands of acres in Louisiana, Mississippi, and Texas have been injured, and the cotton must be replanted. A storm is sweeping eastwards, leaving ruined crops and orchards behind it. Severe frosts have occurred in the Ohio Valley and the interior States bordering the eastern shore of the Gulf of Mexico and the South Atlantic, April 27. For cotton seed, which was previously sold at £5 a ton, the oil mills in this country are now asking from £2O to £3O. LONDON, April 28. The Federation of the Master Cotton Spinners' Association in Lancashire has resolved to secure a reduction of 5 per cent, in wages. Thereafter it is willing to negotiate for a sliding scale. The projected reduction represents £IO,OOO per week. Fifteen thousand employees are affected. April 29. The Liverpool bankers are refusing to accept Messrs Knight, Yancy, and Co.'s drafts, representing 1000 bales of cotton, thus throwing the liability on to the American brokers