FALL IN COTTON

Dominion, Volume 14, Issue 152, 23 March 1921, Page 4

FALL IN COTTON

FROM 2s. 2ld. to 71d. PER LB. The wholesale price of cotton at Man. Chester, which was quoted at 2s. 2ld. six months ago, was 71d. per lb. at the beginning' of the week. The fall, according to a big indent agent, who knows the "Manchester trade” thoroughly, was nothing for anyone to jubilate over, as such sudden falls brought disaster in thedr train, and to-day half the people of Laucaslfro were, no dioubt, feeling the pinch of hard times. Unemploy, ment was rife, and most of the mills were working only half-time or less. The big prices of t.hei last few years had killed the trade for the time being, as no one would continue to order -when they saw the peak had been reached, and now prices were tumbling down, they were scared to place any orders, and wore content to live on stocks. "Between Christmas and' now,” said our informant, “I usually book about £20,000 of orders for Manchester goods only—this year my orders are not worth £1600."