BOOM IN BRITISH COTTON
SPECULATIVE " BIG MONEY " AT WORK WITH AN EYE TO LARGE PROFITS ffiec. September I, 11.25 p.m.) . London, September 3. The past mouth's comon mill buying is a boom for Lancashire, .and niar&> the opening of a new period of speculative finance in an industry whose capital hitherto has mainly been held locally by the Amalgamated Cotton Mill Trust, which, allied with ihe Dunlop itubber Company, tilone bought twenty mills in the Oldham district, involving 2,800,000 spindles, worth £1,000,1 M. Other trusts are buying on a vast scale, paying in some instances .£195 lor Mil shares. Companies are being refloated with a greatly increased capital. The speculators are gambling on another three or four years of abnormal protitt>, coupled with decreased production, owing to the reduction of hours. There is no likelihood of new mills being ibuilt, owing to tho high cost of building ana machinery. The world's demand for cotton is: such that foreign competition is not. felt.—Aus.-N.Z. Cable Assu,
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Dominion, Volume 12, Issue 12, 5 September 1919, Page 7
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164BOOM IN BRITISH COTTON Dominion, Volume 12, Issue 12, 5 September 1919, Page 7
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