COTTON REELS

Otago Witness, Issue 3444, 16 March 1920, Page 28

COTTON REELS

INCREASE IN PRICE BEING INVESTIGATED. WELLINGTON, March 8. The Board of Trade recently made investigations into the increase in the price of cotton thread, and report that prices are practically controlled from outside the dominion. There is a central selling agency in Glasgow, with a branch in New Zealand, who are virtually the selling organisation of the cotton combine. No direct or distinct profits are made by the New Zealand branch, since there is no question of purchase by it. The recent increase in prices was advised by cable from the central agency on February 16. All orders for immediate delivery in the firms' hands before the receipt of this cable were executed at the old prices. Orders received since and orders for delivery after the 15th were filled at the new prices, which average an increase of about 25 per cent, on the main selling line. In ordinary sewing cotton in 200-yard reels the increase was from 52s to 78s per gross. The Board of Trade is considering the question of any increase in prices of stocks in hand or held on the water in transit for New Zealand.