The free press. (Southern Pines, N.C.) 1898-19??, 1903-12-11
General Movement to Reduce Pro-
duction and Wages Imminent.
NEW ENGLAND LOOKING SOUTH
President Sanford of the American
Cotton Yarn Exchange Says tho
Situation is Serious and Calls for
Concerted Action.

Boston, Special THAT a widespread
curtailment Of production by cotton
mills in the United States will be found
necessary during the next few months,
on account Of the great cost of the raw
materials, is the opinion of leading mill
men in this city, from which the policy
Of many cotton mills in the North is
directed. The market for finished ma
terial has been unsatisfactory for
months, and prices have not risen cor
respondingly With those of cotton. The
cotton mills in New England employ
| fully $4,000 hands, $4,000 of whom
have had their wages reduced 10 per
cent this fall and $4,000 additional will
suffer cut within the next two weeks.
matter of great interest in New
England is the project now on foot in
the Southern States to bring about a
general curtailment. A meeting of the
southern manufacturers has been cali
ca for next Tuesday and if a policy OF
widespread curtailment is adopted, it
Will have much influence on the future
action IN large New England mill cen.
tres.
whether or not general agreement
IN the North can be reached is not
known at this time, but it is expected
mat II the Southerners decided a gen.
eral policy it will induce large num-
per or Northern Manufacturers, espe-
call in Fall River and Rhode Island,
10 stop their spindles. If no agreement
Is reached in the South, there is no
likelihood Of an understanding being
arrived at between Northern mill own
ers as whole, for those who have cot.
ton 40 not care to stop manufacturing
while their competitors are turning
their usual amount of goods into the
market.
Most manufacturers here agree that
the cotton situation is the most criti-
cal for rs years.
Arnold f. Sanford, president of the
American Cotton Yarn Exchange here.
says:
"The situation is very serious and
the outlook offers no announcement. I
cannot see anything but a general cur
tailment. The conditions confronting
the Industry are the worst in many
years. The mills will not manufacture
at loss. They must, therefore, cur
tall production and reduce wages This
will result, undoubtedly, in great suf-
fering.
The one thing to be done under these
to save the situation is
for the manufacturers to get together
throughout New England and the
South, as well-for it cannot be done
without concerted action-curtail pro-
luction, reduce wages and break the
speculation by not buying cot
.on.
Seldom in the history of the bust
ness has it been SO difficult for the
manufacturers and their selling agents
o make terms acceptable to buyers
md consumers This has been the
,ause of the poor demand and the poor
prices. Reduced prices and reduced
wages seems to be the only way to
meet the situation"
Several mill treasurers have today
that an extensive curtail-
1ent isinevitable. Should no genral cur
aimeDt in New England beagreed upon
uring the winter, it is thought that
lily the mills that are financially the
will be able to keep all their
in operation. In Manches-
er, N. H., Lowell and number Of
laine points, there is said to he
arge supply of old cotton on hand. but
/ Fall River and many Rhode Island
,wns and elsewhere the amount is
mited.
There are about 1900 cotton mills in
re United States with nearly 22,000,-
20 spindles. Of this number $40 mills
18th nearly 14,500000 spindles are in
ew England. About 1890 bales of
otton are consumed annually in the
orthern States, when the mills are all