CRISIS IN THE COTTON TRADE.
A Gigantic Trust Being Formed.
Many Mills Being Closed,
Thousands of Spindles to be
Thrown Idle.
(Received To-day, at 12.6 a.m.) London, June 30,
Mr Brown, a new Orleans speculator, backed in America, New York, London, Liverpool and Antwerp, is organising a "corner" in the United States cotton crop.
The Standard's New York correspondent says the " Trust " will practically control the entire spot supply of cotton.
The mills in New England are clos'ng. Half a million spindles will be idle.
The Ehode Island and Lancashire mills will stop on Saturdays and Mondays.
Some of the Oldham, Eockdale, Burn* ley, Bury, and Bolton mills have closed,
Liverpool and Manchester are doing a minimum amount oi business.
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Bibliographic details
Wairarapa Daily Times, Volume XXVII, Issue 7500, 1 July 1903, Page 3
Word Count
120CRISIS IN THE COTTON TRADE. Wairarapa Daily Times, Volume XXVII, Issue 7500, 1 July 1903, Page 3
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