A DROP IN COTTON
LOSSES IN LANCASHIRE [British Officia’ Wireless.] Received Aug. 12. 9.20 p.m. RUGBY, Aug. 11. Heavy losses were inflicted on the cotton trade in Lancashire owing to the drop in the price of raw cotton yesterday to the general level of 3.64 pence per pound, which is the lowest recorded figure for 31 years. The drop is a sequel to the surpris ingly high estimate of the American cotton crop. In addition to the season’s crop, which is expected to yield 15.000,000 bales, there are 9,000,000 bales from previous crops in stock in the United States and elsewhere. Stocks of raw cotton held in England are estimated at almost 1,000,000 bales, upon which the drop in value amounts in the aggregate to about £1.500,000.
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Bibliographic details
Wanganui Chronicle, Volume 74, Issue 190, 13 August 1931, Page 7
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127A DROP IN COTTON Wanganui Chronicle, Volume 74, Issue 190, 13 August 1931, Page 7
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