BOOM IN COTTON

Rangitikei Advocate and Manawatu Argus, Volume XLV, Issue 11931, 29 October 1919, Page 5

BOOM IN COTTON

United Press Association—By Elec trie Telegraph—Copyright.

Received Oct. 29, 9 a.m. London, Oct, 26.

The boom in the cotton industry in Lancashire continues. Combines are buying up companies, at thrice their original capitalisation. One combine commands seven millions of capital. " Trade union leaders tear that over-capitalisation of the mills will result in efforts to lower wages when depressed trade lowers profits. Therefore they are asking for a conference with the Federation of Master Spinners, with a view to preventing outride financial syndicates’ speculative jiurchases of mills.