THE PRICE OF COTTON.

Taihape Daily Times, 13 June 1919, Page 5

THE PRICE OF COTTON.

A R:\j.l’lD RISE. In reference to the recent. Press mes—sage stating that cotton is rapidly ri,» ing, Dunedin merchallts (states the Star) say that their advices are to the same efl'ec‘r. Though 22-}, per cent is :21. big agvzrnce, bringing the price to the highest point ever known, a greater advance would not have caused. surprise. It is said, it will be noticed, an advance of 22; not from the lowest rates. but from the lowest prices in l\larch. There wins a drop before March. The Cause was thzr-it. after the signing of the arinistice, nobody \v:nlted to buy at any price.’ so the spinners and wc-avers were doing nothing, -and zr cut was, nmde to get orders.

Central Europe is :Ibsolnt.el_\f bare of cotton, and the people tllere will take it on any terms. Two months ago advices we-re received that a, tremendous amount of money was being deposited in England from the B~all-ian States for the purpose of ensuring the delivery of cotton goods whenever they were ohtainable. New Zealand, luckily, holds quite a fair stock of cotton goods at. the present time. It. is Woollen goods l'h:lt we are short of. Practically none are coming from the Old Country——lro tweeds, for inst.::nee—zlnd there is Dot. likely to 156 3 supply for some time. In one Otago .\":1rl'(‘l}1011S0“ usually oarryirlg a sm(,]; up to £30,000, 'fhere is not more than £2OO or £3OO worth ‘today. The Imerelrants smile when asked whether our New Zeal:-md mills cmmm make good the shortage, and we am. told that even in pre-"war time 1-}l(.h. domestic output does not exceed 10 or 12 per cent. of the woollen goods tliat go jute wear in the Dominion. In the present crisis the 111-erehantghavo, to rely solely on the loeah mills, and are very thankful’ to have such a 50u..(,;,_ but it czemnot. overtake the dema : the tailors are only supplired t'ro:1dliz::i((l to mouth. as the saying gO(‘;_q_ Recent cables advise that furs have advanced in England from 120 to 150 per cent.