The Washington times., 1901-10-25
The Cotton Trade.

| The cotton SITUATION at fdu ttlNeI'
| Massachusetts, is not only a remarkable
one, but it is exceedingly interesting,
| even TO those who have no connection
either with Fall River in particular or
with cotton manufacturing in general
| A few weeks ago the cotton trade was
| much depressed at that centre. The
| demand was weak, and in order to pre-
| vent fall in the price the manufactur-
ers were obliged to withhold their prod
| uct from the market. There seemed
to be a clear case of production exceed
! ing demand. The mill owners conferred
| together and very nearly reached an
agreement to reduce wages some four
| teen per cent. Either such action or
partial shutdown of tha mills, they
claimed was imperatively necessary.
The operatives refused to entertain the
proposition of a cut in wages and
threatened to strike.
Then one of the owners, Mr.. NJ. c.
D. Borden, who employs about one
tenth of the entire working force Of
the district, came to the relief of the
situation by purchasing the surplus
stock, consisting. it is said, OF three
million pieces. The proposed reduction
of wages was abandoned and every
| thing ran smoothly for short time.
Shortly afterward MIR. Borden made an
other move, raising the wages of his
employees five per cent. The hands en-
gagged in the other factories demanded
a similar raise. which was peremptorily
refused by the mill owners. Mr. Borden
! has now advanced wages five per cent
more, and those employed in the other
! mills have, through their secretary, sent
a communication to the other nIanufac-
turers asking for an advance of ten per
cent, which is required to place them
on an even footing with those working
for Mr.. Borden.
The manufacturers generally claim
that there has been no Improvement in
the cotton trade, save as Borden's ac-
ton in buying the surplus eased up the
local situation. They also claim that he
is manufacturing under peculiarly IA
vorable conditions, although we have
seen no specification of wherein his ad-
vantages lie. Nor does it appear what
he has done with the three million
/ pieces Of cotton goods which he bought.
But it is insisted that the other mills
cannot meet the Borden advance, and
will not attempt to: in fact, that they
can just barely run as it is The feel
ing against Borden seems 10 be intense,
intimations being thrown out that be-
meath an assumption of generosity
there is, in reality. a selfish motive.
Ii is not easy for one unfamiliar with
the general condition Of the cotton trade
TO pass upon the merits Of this peculiar
contest MI Borden's first act in buy
ing up the surplus stock gave no indi-
ca ton of being inspired by a sinister
motive. The existence of the stock was,
on its face, suggestive of an unfayor-
able market. and the conclusion might
fairly be reached that he felt himself
strong enough TO hold the stock and
work it off gradually. But when. upon
the heels Of this, he twice in success
sion raised the pay OF his employees,
knowing as he did that those working
in the other mills would at once de-
mand the same increase, it leaves his
motive somewhat in doubt. Is he a
philanthropist, or is he playing shrewd-
ly Tor MS own ullliIale gam
If Mr. Borden's financial resources
are such that he can afford the ad-
vance for a time, or if he can in truth
manufacture more cheaply than his
competitors. then it is clear that. by
raising wages, he may induce a strike
at the other mills which would greatly
reduce production, relieve the market
and enable him to sell his own goods
at better prices. II such is his purpose
the game certainly is deep one. Ii
would be an indirect way of cornering
the cotton textile market. We are al
most forced to conclude that he has
some such object in view, or else that
he, OF all the manufacturers of that
great district is the only true and
generous friend Of the laboring man
We, of course. cannot undertake To de
eide such a question; but it is evident
that a most extraordinary condition has
been created-one which may in the
end affect the price Of cotton goods
throughout the entire country.