The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1908-10-06

spending period iaa- year. Inquiries
shoE that there is no immediate
prospect Of any general improve
ment in the linen trade. \ few fac.
tories have gone on full time. but
unfortunately the same cannot be
said OF any OF the establishments
in the spinning end
Some OF the factories have gone
on full time to use up yarns or ex.
eCute orders. II the mills were TO 20
on full time 1t would only be with
limited number of spindles. The
restriction OF output by working
only thirty.two hours per week was
/ prcbcuted by the great accumula.
tion OF stocks which took plac,
seven 81 eight years 5so dur'rs
a 'nir perod Of depression.
\ strike in The Ian .dshi- cotton
! 'r.da Us l'.o less than "a national
disaster Those who remember the
bygone strikes in that district know
how ilercely they are waged there.
and to what extremity the combat.
ants generally proceed. when once
war is declared, before they will lis.
ten to oyertures for peace.
There has been no strike during
the last fifteen years. though dis.
putes have not been infrequent. and
some were pushed very close up
TO the line. Yet golden bridge
was always devised at the last mo.
ment.
AS most people are aware. Lanca-
shire has lately passed through
veritablc golden age OF prosperity.
\ dozen years ago It was common
TO hear mill owners lamenting the
ruin Of the country. They freely
prophesicd that no capitalist would
ever be rash enough to build an
other cotton mill. and the cxtinc-
tion of the industry was only
MATE of time.
Then came a turn In the tide:
things gradually mended through a
steady succession of years. and in
1904 there set In boom to which
the history of the trade can supply
no parallel During the next three
years the profits made, especially
by the spinners, were fabulous. Ev.
cry wheel that would reyolve was
set going, and u mania for mill
building began. with golden results
for the moment, but containing
within itself the certainty of even
tual loss.
1t has been estimated that
sum of no less than $4,000 900
was Invested in Lancashire during
the boom years from 1904 to 1907
DIN laying down new spindles and
new looms. The enormous increase
OF new productive power could be
prottably emplOyo - long as or
dcrs continued TO pour into Lanca-
shire from all parts of the world.
liut towards the close OF last year
It began To be evident that the
end oi the boom was near; trade
slackencd yisibly, and OF late the
dcpr, ssiou had grown more and
more acute. till Lancashire became
almost a dead region.
There were not sufficient orders
/ TO keep the new machinery at work
The production was vastly u eN
cess Of the demand Huge stocks
accumulated, and the ports of the
/ Far East, especially were said to
/ be- choked with consignments of
unstable cotton goods.
The operatives, OF course, benefit.
ed during the boom years by reason
of regular work and increased
Wages All the changes in wages
during the last eight or nine years
had been i'm their favor. and the
recent rate was tee highest ever
known In the industry The arEu-
mcut of the employers was that,
uuN The boom WAS over, there ought
TO be an immediate reduction. did
not appeal To the operatives, who
replied that labor did not obtain
even tritliug increase until after
capital had secured roaring profits
from taespurt i'm trade.
Il is undeniable that the great
spinning companies witch publish
balance sheets have put away to
their reserves during thel asst three
years sums of money which guar
autee their shareholders reasonable
dividends for the next few years,
Notwithstanding strikes or bad
trade.
Five hundred and eighty. rWo.