CRISIS IN COTTON INDUSTRY.

Timaru Herald, Volume CXXV, Issue 18330, 30 July 1929, Page 9

CRISIS IN COTTON INDUSTRY.

On the Verge of Upheaval.

HALF A MILLION INVOLVED. (United Press Association—By Electric Telegraph—Copyright.) LONDON, July 28. Unless an eleventh-hour miracle happens, 1800 Lancashire cotton mills and 500,000 operatives will be idle tomorrow. Nothing was done to-day to bridge the gulf, which the statements of the two sides show is disastrously wide. RAY OF HOPE. REDUCED RATES NOT POPULAR. (United Pres* Association—By Electric Telegraph—Copyright.) (Received July 29, 7.30 p.m.) LONDON, July 29. Though the deadlock continues in Lancashire, there is a ray of hope in the fact that while the manufacturing and weaving unions decline to consider a reduction in the spinning section, they seem anxious to work out a separate agreement with employers, who probably will be prepared to modify the present demand for a 125 per cent, reduction. The enginemen and firemen continue at the old wages, pending a general settlement. The Tootal Broadhurst Company is one of the firms keeping their mills open on the basis that the wages are not to be reduced. It is estimated that 10 per cent, of the Lancashire mills will maintain wages unchanged, and will keep on working. LAST MINUTE HOPES. PRIME MINISTER MAY INTERVENE (United Press Association—By Electrie Telegraph—Copyright. ) Received July 30, 12.25 a.m. LONDON, July 29. Hopes were aroused that the spinners and cardroomers later in the week would seek to negotiate a separate agreement. In that event the employers were likely to modify the wage cut. Lancashire opines that the next step rests with the Government. It is understood that Mr Ramsay Macdonald is considering personal intervention. LOCK-OUT BEGINS. HALF A MILLION OPERATIVES AFFECTED. (United Press Association—By Electrie Telegraph —Copyright.) (Received July 29, 11.10 p.m.) LONDON, July 29. The Lancashire cotton mills lockout has begun. Eighteen hundred mills and half a million operatives are virtually idle.