The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-02-05
UNION OF HOSIERY
YARN SP|NNERS
The Organization Was
Completed Last Night.
is SIGNED
J, W. Cannon of Concord, This State,
is Elected President of the ksso.
citation. Secrecy as to Action
Taken Toward ControlI-
ing Prices.
ing Prices.
(By the Associated Press ,


Charlotte, \. c., Feb. 4.-Manufac-
turers of hosiery or soft cotton yarns
in North Carolina, South Carolina.
Georgia, Tennessee and Alabama, said
to represent more than a majority
of Southern spindles so engaged, met
here today and completed the or
ganizaton begun al a meeting held at
Atlanta last Saturday by forming the
Southern Soft Yarn Spinners Asso-
citation, the principal business of
which will be the enforcement OF
contracts between the spinners and
commission houses or knitters for
the purchase of yarns. TO this end
it was provided that each mill joining
the association shall sign the fol-
lowing agreement:
I'VE, the undersigned members
hereby agree that whenever an effort
is made to cancel any order which
has been placed with u.s. we will
not agree to the same unless we arc
in fault, and that in case of disagree
ment all the correspondence in the
case shall be submitted to the Secre-
tary who snail carefully examine into
the matter and shall correspond with
the commission merchant or knitter
who desires to cancel, and notify them
that the matter has been referred to
the ,assOciat ton. and that said knitter
is required to submit favorable evi.
dence rs he may wish A quorum Of
the advisory board shall look into the
matter of cancellation. and after care
fnl consideration If 1t is deemed ad-
visable and the circumstance warrant.
suit shall be brought against the knit
ting or commission merchants TO
compel performance of the contract.
- NJ "a co, IN 1,,
by the association. In the event that
the advisory board shall determine
that there Is not good ground for
action, the spinners shall be so noti-
fed and the association shall not con-
slider the matter further"
Rules of tho Association.
The advisory board is authorized TO
employ such counsel as may be
deemed best 20 determine the advisa-
oiiity. Of bringing suit. In case it is
determined to sue the name of the
Initter or commission merchant shall
be withheld until IT. is determined
that suit shall be brought.
The members of the association arc
TO be assessed as follows: Five dol
lars per year for each thousand spin
dies actively engaged In the mauufac-
turc of hosiery yarn. with the further,
right 10 assess mills $500 additional
for each year, In the event that tho
expenses Of the association shall de-
mand so much.
The annual meetings Of the associa-
ton are to be determined upon by the
association and meetings may he call
ed by the president on ten days no.
tice. The secretary and treasurer Of
The aSSocia ton is TO receive not cx-
cseding $50 per month salary.
In explanation Of the above agree
mcnt il was stated that spinners now
had q number of contracts made ut
a considerably higher figure than the
ruling price today. and efforts were
apparently being made by the pur-
chasers to decline to take the goods.
1t is planned TO secure the best legal
talent available TO put stop to re-
nudiation Of contracts.
Officers were elected as follows:
President, j. w. Cannon. OF Concord,
y. c.: vice presidents, l.. D. Tyson,
Knoxville. Tenn: S. a. Carter. rAtian-
ia, Ga; T. ID. Mcmillan. Talladega.
Ala; secretary and treasurer, A. G..
Hutchinson. Charlotte, n. G.
Reports submitted TO the session
shows the trade TO be in good shape,
with practically no yarn for sale.
The new organization succeeds the
Southern Hosiery Yarn Spirners As
ISOLATION, which has been in existence
some years. The matter Of q scale of
prices was considered, but the action
taken with regard to controlling
prices was not divulged.