COST OF COTTON.

Taihape Daily Times, Volume XI, Issue 3431, 10 March 1920, Page 5

COST OF COTTON.

CONTROLLED FROM 0 UTSIDE.‘

BOARD OF TRADE’S REPORT.

Investigations have recently been made by the Board of Trade in regarrl to many complaints as to the repeated increases in the cost of cotton thread. The Board reports that the prices are practically controlled from outside the Dominion. There is a central selling agency in Glasgow, with {L branch in New Zea'la.nd, which is virtually the selling organisation of the cotton combine.

No direct or distinct profits, it is stated, are made by the New Zealand branch, since there is no question of purchase by it. The recent increas«3s in prices was advised by cable from the central agency on Monday, February 16th, and all orders for immediate delivery in the firm ’s hands before Icceipt of the cable were executed at the old prices, which a,verage an increase of about 25 per cent. On the main selling line ordinary sewing cotten in 200—yard reels, the increase wasv from 52/ to 78/ per gross——an increase of about 50 per cent. The Board 0.1.‘ Trade" is eonsiclering the question 01‘ any increase in prices cf stocks in hand or held on the water for transit for New Zealand.

The Board is fur?‘-‘er co3lsideri::g and inVestig':lting the "ices of 16-atbvn: in Auckland in relating to the racer»?! rise in fhe price of hides,