FALL IN COTTON

Manawatu Herald, Volume XLIII, Issue 2256, 29 March 1921, Page 3

FALL IN COTTON

FROM 2s ljd TO 7Jd PER LB

The wholesale price of cotton at Manchester, which was quoted at 2s 2£d six months ago, was 74d per lb. ipt the beginning of the week. The fall, according to a big indent agent, states the “Dominion,” who knows the “Manchester trade” thoroughly, was nothing for anyone to jubilate over, as such sudden falls brought disaster in their train', and to-day half the people in Lancashire were, no doubt-, feeling the pinch of hard times. Unemployment was rife, and most of the mills were working only half time or less. The big prices of the 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 were content to live on stocks. “Between Christmas and now,” said the informant, “I usually book about £20,000 of orders for 'Manchester goods' only —this year my orders are not. worth £1,000.”