Virginia gazette. [volume] (Williamsburg, Va.) 1893-192?, 1903-12-12
MAY CUT PRODUCT.
General Movement 10 Reduce Pro-
ductiOn and Wages Imminent.
NEW ENGLAND LOCKING SOUTH
President Sanford OF the American
Cotton Yarn Exchange Says the
situation Is Serious and Calls for
Concerted Action.

Boston. Speciai.-That a widespread
eurtailment OF production by cotton
mills In the United States viii 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
teTial has been unsatisfactory for
months. and prices have not risen cor
respondingly 18th those OF cotton. The
cotton mills in New England employ
fully $4,000 hands $1,000 OF whom
have had their wages reduced 10 per
cent. this fall and 5000 additional will
suffer n cut within the next two weeks
A matter OF great interest in New
/ England - the project now on foot in
/ the Southern States 70 bring about a
/ general curtsilment 4 meeting OF the
/ southern manufacturers has been call
ca Tor next Tuesday snd III a policy @,
! widespread curtailment is adopted. il
Will have much influence on the future
& action in large New England mill CEN
( tres.
Whether or not a general agres ne -
I IN the North can be reached IS not
known at this time. but e is expected
I that II the Southcrners decided a gen
eral policy il will induce a large num-
/ be- OF Northern Manufacturers. csne-
( cially in Fall River and Rhode Island
Z 20 stop their sDiniles II no agreement
IS reached in the South. there is no
likelihood OF an understanding being
arrived at between Northern mill own
oTs as whole for those who have cot
ton do not care 20 stop manufacturing
while their competitors are turning
their usual amount % goods .u.o the
market.
Most manufacturers here agree thas
the cotton situation is the most criti-
cal fo- - years
Arnold b. Sanford. president OF TIE
American Cotton Yarn Exchange here.
says
The situation is very serious and
the outlook o1e-s no announcement.
cannot see anyth ing bat a general cur
tailment- The conditions confronting
the industry are the worst ia many
years. The mills viii not manufacture
az a loss They must. therefore. cur
tail production and reduce wages. This
viii result. undoubtedly. in great SUI
fer.ng.
.
Circumstances 10 save the situation Is
For the manufacturers 10 get together
throughout New England and the
South as well-fOr il cannot be cons
without concerted acti0n-curtail pro
cuction. reduce wages and break Tbs
present speculation by not buying cot
ton
Seldom IN the history OF the bust
ness has Z been 50 difficult for tn
manufacturers and their selling agent
20 make terms acceptable 20 buyer
and consumers. This has been IN
cause OF tho poor demand and the poo
prices. Reduced prices and reduce
J wages seems 20 be the only way q
+ | meet the situation"
e. Several mill treasurers have toda'
/ predicted that an extensive curtaii
ment Is inevitable. Should no genral cur
f, taiment in New England be agreed upo'
during the winter. Il is thought tina
p OILY the mills that are financially ia
J. strongest viii be able 10 keep all the!
- machinery in operation. In Manches
p ter. -. H. Lowell and a number G
=. Maine points. there Is said 20 be
Il large supply OF old cotton on hand. ou
in Fall River ard many Rhode Islam
towns and elsewhere the amount
limited
There are about 300 cotton mills
! the United States with nearly $4,000
900 spindles. OF this number $40 mil
!. with nearly $500 900 spindles are
n New England. About 21s2 600 bales
!, cotton are consumed annually IN q
! Northern States. when the mills are a
running.