OUR YORKSHIRE LETTER.

Gisborne Times, Volume XXVI, Issue 2346, 12 November 1908, Page 6

OUR YORKSHIRE LETTER.

THE COTTON STRIKE

WILL IT AFFECT \\ OOL'VALUES

(From Our Special correspondent.)

BRADFORD, September 25. This week the big Lancashire cotton trade, which is the largest textile industry in the world, has been plunged into darkness by a most unfortunate strike between masters and men, last Monday morning 400 mills being closed, affecting about 110,000 operatives. It is estimated that at the end of this week the number idle will be increased to at least- 200,000, and if the strike goes on for a month fully 400,000 -people will be directly thrown out of work. From such a condition of affairs it- is plain to be seen that there lias been precipitated factors of an ominous character, and this strike has an important bearing upon the next most- important textile industry, namely, wool. Such a struggle is all the more toi be regretted, following as it does upon a lengthened period of unparalleled prosperity. There has been since 1902 quite si mill-building mania, and to those outside the trade it already seemed as if the recent boom was being over done. Such a rapid increase of the producing power of cotton yarns and fabrics was bound to be- followed by -a period of depression, and when it did come, it was certain to prove 1 all the more severe by the terrible competition arising between each mill in masters trying to- find business to work them full time. Readers will be interested if I give them an idea of how far this new mill-building has been carried out, and in the following table details of the additions to the producing power of this country are given: Year. New mills. Spindles

Total 11,071,000 The above spindles represent an estimated capital of £15,000,000. In addition several new mills have been registered during the spring of this year, and there have also been alterations and extensions of cotton spinning mills belonging to private firms. So extensive has been the erection of new factories that Lancashire has made the boast that in new mills alone the spindleage is actually more than the Countv Palatine itself.

It is only reasonable to expect- that during such a- boom the operatives should participate in the good profits which have been earned. Altogether the workpeople, from time to time, have received three advances of 5 per cent each, and it is well known that the wages earned by the cotton operatives are the best in the 1 whole country, being, in many cases, nearly double the wages earned in woollen factories- During the past nine months competent authorities have estimated that the cotton mills of Lancashire have lost an average of £IOO per week each, short time having been mostly worked during several months of -this year. No surprise need therefore be felt that under such conditions masters should make a demand for a reduction of 5 per cent., and accordingly notice was posted to that effect a month ago m all the mills belonging -to the federation of Master Cotton Spinners’ Association. As the operatives, or at least a portion of them, have declined to accede to such a request, the mills wore closed last Saturday, and consequently a strike is to-day in operation. The question naturally arises, what has the above circumstances to do with wool, and how are prices likely to be affected? Naturally the large army of woollen and worsted manufacturers are more than a little concerned at the strike coming off, for large quantities of so-called cotton yarns are used as “warps” in both woollen and worsted trades. It is difficult to form a correct estimate of the quantities of so-called cotton warps that are tised in the West Riding, but I should say that 25 per cent of tho output of woollen and worsted fabrics are composed of cotton, or at least have cotton warp as the foundation. Large quantities of Neltons, serges, vicunas, and dress goods have a cotton thread as the “warp,” the “weft” being either woollen or worsted. Already Bradford cotton warp dealers have-advanced their prices 2d per lb., and if the strike continues long, we are bound to see higher rates still.

The above facts are bound to more or less -affect wool values, and the question is, will they benefit or otherwise? I am not one who can yet see through the argument of those who state that wool values will certainly appreciate if the cotton strike continues for any length of time.. Their argument is that as cotton fabrics gefc dearer the consuming public will go; more largely on to woollen materials, and so stimulated by a larger consumption, wool values will appreciate. That argument is plausible enough, but what about the lessened consumption that is, absolutely certain among the teeming millions of Lancashire if the strike continues? It has been estimated that the families directly connected with the workers in Lancashire cotton mills number at least 2,000,000, and with these only put upon strike pay, there will be nothing to spend upon woollen materials. We all know, as a big woolbroker once said, that in .the race for supremacy between belly and bade the former always wins, and many fail to see how a gigantic strike ,such as the present bids fair to assume, is likely to benefit wool values. At least that is not the history of past big struggles, for in the days, of lessoned consumption and big supplies, wool prices have always suffered. Lancashire is about the biggest outlet for wool-made textiles in the whole of the British Isles, simply because its mill, operatives spend freely their good wages, never begrudging anything to appear dressy and smart. It is a well known fact that the female wool operatives of Lancashire believe in buying some really good dress fabrics, -and on that account their purchases, not simply-these for the coming winter, but also for under garments, must consequently be reduced if not entirely stopped. At a time like the present, when, trade generally is bad, it is a, pity that consumption. should bo reduced at all, but

evidently there- are .a-s yet 'no/prospects which point to any development- in that. direction, borne seem to think that the strike will not last long, but so- far a policy of drift is being allowed both by masters and men. I fail to see how wool prices can benefit so long as a big industrial struggle like this continues, and it- is sincerely hoped that the end is not far off, although t-lie outlook is anything! but good for a- speedy settlement .

1902 2 185,000 1903 9 746,000 1904 15 1.450,000 1905 40 3,530,000 1906 23 1.840.000 1907 39 3,320,000