SEWING COTTON.

Star (Christchurch), Issue 19878, 20 February 1920, Page 5

SEWING COTTON.

VIRTUAL MONOPOLY.

INCREASE IN PRICE POSSIBLE.

By Teleprtph—Presi Aieoeitlion—Copytighi

B«utar'« Talegruni

(Received February 20, 11.35 a.m.) LONDON, February lb. . The Profiteering Act Sub-Committee inquiring into the alleged sewing cotton combine report, after exhaustive inquiries, that the manufacture of sewing ootton is a virtual monopoly of Messrs Coats and Co., who have taken advantage of their monopoly to restrict the trade, making it extremely difficult for competing firms to obtain a footing; and that in view of the fact that Messrs Coats and Co., last September, estimated that the total manufacturing and selling costs amounted to 3.83 d per red, the advancement of the retail selling price to _7jd was hardly justifiable. Hie retail price should not exceed Gd a reel. Messrs Coats and Co. increased their net profit por reel by 168 per cent between 1914 and 1919. The sub-com-mitten, however, express the opinion that when Messrs Coqts and Co.’s present supplies of raw and manufactured cotton are exhausted, the price of sewing cottou must rise unless the price ox cotton falls.