"EDGE OF PRECIPICE"

Poverty Bay Herald, Volume LIII, Issue 16376, 25 June 1927, Page 15

"EDGE OF PRECIPICE"

BRITISH WORSTED TRADE LONDON, June 14. The Bradford correspondent of the Times Trade Supplement directs attention to the desparate straits of the worsted industry. lie recalls recent statements of Sir Henry Whitehead that the world textile industry has ceased to create national wealth; that 40 per cent, of the weaving machinery is out of commission, and that, firms representing 3000 to 4000 looms have failed, or have censed to operate. The industry, the writer declares, is "perilously near the edge of a precipice." He deprecates statements which are finding their way to Australia, that all is well in the industry, including growers to insist on higher prices next selling season, which opens in September. If persisted in, he, states, that course id' action will create a most difficult situation.

The writer points out that imports of woollen ami worsted tissues from Germany are increasing monthly, further threatening the industry, and expresses a hope that efforts to give the trade the bonelit of the "Safeguarding of Industries" measure will prove successful.