FALL IN COTTON.

Taranaki Daily News, 2 April 1921, Page 10

FALL IN COTTON.

FROM 2s 2%d TO PER LB. The wholesale price of cotton at Manchester, which was quoted at 2s six months ago, was 7|d per lb at the beginning of the week, says the Dominion. 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 B in their train, and today half the people of 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 for orders for Manchester goods only—this year my orders are not worth £1000.”