The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1885-06-20 00:00:00

THE OLDHAM SPINNING TRADE.

A calculation has been made of the working of
sixty cotton spinning companies in the Oldham dis-
trict during the last eight years, the results of which,
in the present critical state of the cotton trade, may
be of interest. The list of these companies, which
possess a paid-un share capital of £2,509,000, may be
accepted as fairly representative. After taking into
amount profits made by some of these companies in
1877, lit is found that they sustained losses in that
year amounting to over £40,000, which in 1878 was in-
creased to .£90,000,` and in 1879 to almost .E 150,000.
1880 brought with it afi improvement in the "margin,"
and in that year an average profit was made, equal
to 1/ per cent. In 1881, trade having experienced
further improvement, the average dividend made by
the companies in question was 71 per cent. - In 1882
it fell to 61 per cent., in 1883 the average was in-
creased to 7i, and in 1884 it came out at 5 per cent.
It will thus be seen that the average results of the
sixty companies for the eight years are equal to 31
per cent., an average which will scarcely be sus-
The report of the Department of Agriculture for tained for 1885 in the present condition
the present month estimates the total wheat crop of of trade. By the depression prevailing through-
the United States at 360 million bushels, of which out the country and the glutted state of
207 million are wit ter and 153 million spring wheat. the yarn market the margin between the purchasing
rice of cotton and the selling price of yarn has been
The conditien of the winter wheat is lower than ever P
before in june, the average being 62, as compared diminished to an unprecedented extent. Though a
loss of id. to id. is being incurred upon every pound
.
with 70 in May last. The average condition of the
spring wheat is 97. The report states that the cotton of yarn sent out, private spinners and companies have
area has increased between 5 and 6 per cent., the total continued to pour their productions upon an over-
areastocked market until some action, either by the
now exceeding 18 million acres. The plant is
. Liability Association, was rendered imperative. A
healthy, and the growth nearly equal to the average, Masten? Association of Oldham or the Limited
while the stand is rood. The general average of crop
is 92, which is higher than in June of the three pre- reduction of wages amounting to 10 per cent. has at
length been decided upon by the Masters' Association,
ceding years. There is also unusual uniformity in the
condition of the crop. The State averages are as and 'in all probability the recommendation of the
follows: Virginia, 98; North Carolina, 93 South
Limited Liability Association to restrict the output of
;
Carolina, 06; Georgia, 95; Florida, 93; Alabama, the district by running the mills four days per week
I
O 2; Mississippi, 01; Louisiana, 95; Texas, 90 Ark-
will also be adopted by spinners. It is feared that the
ansas, 01; Tennessee, 85. The general condition of
operatives will resist the former of these measures by
the rye crop is 83. The area sown with barley is ;
a strike. When the reduction was first proposed they
nearly the same as in 1884, the average condiLion decided to oppose it, expressing at the same time their
being 89: The average of oats has increased 4 Der willingness to work short time. Their funds are large.
cent., while the average condition is 94. The condi-
Reductions have already been made in wages, and it
is not considered likely that after agreeing to work
tion of the crop will be reported in July, but volun-
four days each week they _will submit quietly to a
tary rattling already received indicate an increase in
the area sown. fresh reduction- 41 me,,,,i4j4 •,,...:-
oatterdhitjurs.p.* • —,..... 41, 4,44. a .." -......—. .
'