COTTON INDUSTRY
British Spinners Reject Quota Plan
ALTERNATIVE PROPOSAL (British Official Wireless.) (Received, January 7, 5.5 p.m.) Rugby, January 6. As was expected, the result of the recent ballot of cotton spinning firms in Britain does not provide the required 70 per cent, of the spindleage in the trade to permit of further progress with the suggested scheme for a formation of a cotton spinners’ association to carry out a quota system for regulation of production and prices in this section of the cotton industry. The voting showed only 50.76 per cent, in favour.
A second scheme for the buying up of redundant spindles and either scrapping them or putting them “into cold storage,” for which purpose it was suggested that funds should be raised by a statutory levy on all operating spindles was also the subject of a recent questionnaire to the trade. The voting in favour of this scheme showed 66.34 per cent, for, and 18.40 per cent, against, with no replies from 15.26 per cent. These figures are considered by the Federation of Master Cotton Spinners’ Associations to warrant proceeding with the scheme.
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https://paperspast.natlib.govt.nz/newspapers/DOM19350108.2.93
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Dominion, Volume 28, Issue 88, 8 January 1935, Page 9
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186COTTON INDUSTRY Dominion, Volume 28, Issue 88, 8 January 1935, Page 9
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