New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-02-21
SHREWD BRITISH SPINNERS.
TALKING ABOUT BUSINESS DEPRESSION.
A REDUCTION OF WAGES PRoPoSED-THEli'
ACTION HAS LESS EFFECT IL LIVER

A REDUCTION OF WAGES pRoPosED-THElR
ACTION HAS LESS EFFECT IN LIVER
rooL THAN AMERICA
Tine Cotton Exchange yesterday was Largely gov
erned by the tidngs from abroad There was con-
siderable curiosity know what the British mas
ter spinners In session at Manchester proposed 10
do in regard to the short-time movement Know
edge OF their action which, IL Is supposed, was
taken on Tuesday. not general on the New
York Exchange cary yesterday. The earliest news
from Liverpool was OF sales OF 1900 bales to Man
chester sp.nners and shortly aftorward came in
teigence that they had taken 1000 bales additional
with the market hardening. 1t was arguei rom
this that the alleged du.noss abroad had been eX-
aegcrated. our market opened point up. Late In
the session prices eased off TO points on the
news that the master spinners OF the Bolton as
trct had decided to notify to their employees OF D
per cent reduction in wages. /, was stated that
this would probably be followed by similar ACTON
by the spinners of Oldham and otner districts'
The Manchester Guardian was quoted as saying
THE feeling has become widespread among the
masters that the general depression and the ac-
emulation of supplies arising ou OF the reimposi-
ton of Indian duties and the low rates OF exchange
will justify the attempt Ito reduce wages. In the
face OF the tremendous exports OF cloths and yarns
during January. the largest on record ana 'he
firm market and big spot sales in Liverpool yestor-
day it would seem that the British spinners mo-
tvcs are Of doubtful honesty when he cries out now
about a bad business outlook. and may be put out
to affect the market 1t must no. he forgotten that
low prices what the British spinner wants ana
short time ard low-wages resolutions and huge crop
estimates by his friend Mr Nell are good means to
that end.
Tho New-Orleans Times Democrat" Friday,
February l5 published the following Interesting
editorial cotton matters under the meaning OF
Five Cent Cotton and Under:
1t IA we'll known that Mr. Neill and the bears
. I ,,l hot nr
in lowering the price u cotton The estimates that
Mr.. Neill makes are as everybody Is awaf 1 lar
sions OF the crop: bu; they answer their intention
AL the same Of making buyers oeaeve that , ,neIe
The bears OF the Liverpool market have the
partial fact that they lay their hands on which
ca don tha; the supply Of cotton be ample.
that they pounce with avidiiy; ard they twist IL
ana stretch 1t until they make beheye that the
crop every year is 10 be 6reier than the year be.
fore and that therefore the price ought to ard must
4 Standardization to 'ihc Times Democrat from
wel.-known cotton authority OF this CITY wscI
columns. gives good Illustration OF THIS bearish
ropensy on the par Of s5e TGsy pd %pi
by Judge J. &. Egan. chairman o. the Shrcyepor;
Cotton Convention. In which he put himself on rec.
ord that. even with the low prices Of issi he had
made some, albeit I, vas n9t much money Gen.
ega1ns that remark of ITfse EFns 30 max" bcars
straightway made 1t out that cotton everywhere In
the United Sne' s $40 nat De r'nc cr 90 a
would he sure TO accommodate themselves to ne
now conditions Of very mitch cHeapcn"l sta2e
and would raise large crops az that lowered ngIre'
BUYERS ought 20 make their arrangements 20 pur-
cha Sc a, reduced scale, or even lover Sun. IN
the future.
The authority who makes he commGnlcatlon to
The Times Democrat has no difficulty IN showing
the utter fal.aciousness Of that contention az the
fact of which the Llvcrpoo, bears were conveniently
ignorant: the fact l. Wit that Judge Ecnn happens
to raise cotton in the most favored section OF all
tho cotton belt and that that section IL but OF worry
limited Cxten, and produces but m lnr1.icsin1l
quantity Of the cotton grown IN tho United states.
The section which Judge Exam rrprcs"nts ana IN
which IL IS admitted TIA, cotton can be raiJ"i At
be taken into tho account when the nEurc a.
which staple generally through
out the cotton bolt IS bein. estimated and The au-
th0ri.Y already referred 60 .'rr properly ana N'fy
appropriately says. In Louisiana and part -
Te.a planters might make small prom even al
uar;s Of the South from which the great br.k -
the cotton Is supplied the came figures would moan
starvation. II he Southern cotton planters
as a class 30 provide food for themsc.vci H'.t
year bu. neglect this and plant frr even - p'r
con, less cotton. the year OF lsto VII ever remain
memorable ~ a period % suffering south - Mason
ard DiXons Inc greater than has "for yet h'on
known"
Everybody who has ,hc interest OF tho South ~
heart wii! hope. 10. "a. cotton planters OWE sab"
AZ well for the sake = the enfr" cotton section
that the rianers VIII listen ~" atvic" 81 their
friends whO counsel reduced acreage 90 cotton
with Increase oi other crops ana not allow ih'n-
selves he Influenced - ne mlsca ing arguments
Of he bears that VIII i,ovtably lead them 10