The Cotton Factory Times. — 1904-04-08 (Manchester, Greater Manchester, England)

VOICES FROM THE SPINDLE AND THE LOOM.  OLDHAM. Holidays.—Few mills have stopped a week, as was anticipated. The stoppage has, generally speaking, been confined to three days. Several mills only stopped Monday. -Work was resumed on !Priestley morning. 'Accident at a Hathershaw Mil-1.--On Tuesday morning, about seven o'cluca, Fred Efferman, of :28, York-street, employed in the blow ing-roont of e, Hathershaw Spinning Co., met with an accident, caused, it is suppered, by falling at the mill. The ambulance was sent for, and the man was conveyed to his home suffering from internal injuries. Mema.—Ettensive alterations are being made at Werneth Mills. The shed adjoining Manchesterroad has been taken down, and is being re-built.-All the machinery is now at work at the Monarch Mill Company and is reported to be doing well. Half the mules are engaged in the production of American yarns and the other half Egyptian yarns. —The death of Mr. Thomas Wild, 69 years of age, of Park-road, is announced. He was formerly a mill manager and director of spinning companies. —During the past six months two-thirds of the old mules at the mill of the Prince of Wares Smalling Company have been replaced with new ones. Owing to the putting down of new machinery, and short time working, the mill has only worked nineteen weeks' full production during the six months.—Alterations in the blowing-room at the mill of the Boundary Spinning Company have been made during the holidays. New Mills.—The surplus cotton workers will be quickly absorbed by the starting of the eleven mills now in course of erection, viz.' Maple, Glen, Cairo, Majestic, Soudan, Cromer, Bell, Baytree, Malta, Rex, and Asia. With the exception of the Cromer, which is wholly a ring-spinning concern, the mills will contain mules. The mills will cantam close upon 900,000 spindles, to work which some 3,000 operatives will be required. Practically the whole of these spindles—at least, it is so understood—will be devoted to the production at yarns from Egyptian cotton. It is probable, however, that a portion of the spindles will be placed on fine American yarns. The Maple will be the first on the list to put yarn upon the market. Glen and Soudan are also approaching completion, and Majestic and Cairo are quickly following. It will be from nine to twelve months before the others are ready for working. Bringing Up the Laggards.—The local committee of the Master Cotton Spinners' Association have had a difficult task in organising the shorttime movement. At no time have they lost heart, but have kept pegging away at those firms who would not come -into line. There was only some four per cent., but small as the percentage was, it was a standing menace to those who desired to be loyal to the committee's appeal. Since the meeting in Manchester a fortnight ago, the committee have redoubled their efforts, which we learn have met with further success. So far as we can gather it is probable that the movement will go on until such time as it can be seen there is a sufficient stock of American cotton or such suitable raw material on hand to keep the spindles in full operation. This may be all the summer. It has been an anxious time for the cotton operatives, and we regret to say that their wages will for some time longer be reduced, Mat the payments from the unions will prove, and have proved, of great assistance. The whole movement has been an object lesson to the workers in organisation, and also in the building up of good reserve funds to meet with such times of emergency. The lesson should be well learned, and the workers should see to it, when full time is resumed, that the exchequers are replenished as quickly as circumstances will permit. The Mills.—The returns of cotton spinning companies for the end of March, notwithstanding the working of short time, are regarded on the whole as satisfactory. Out of a list of thirty companies we find that only a couple have announced losses, and these are not heavy. Of the remaining 28 companies, 21 are paying dividends ranging from 33- per cent. to 10 per cent. Eighteen cornpanics are distributing £11,740 among the shareholders in dividends. A few of the mills have been able to write down their adverse balances. Altogether, the concerns in question occupy a very fair position. From the balance-sheets it is ascertained that a few have debit balances at the bank. This arises from the high price of the raw material, more money being required in the business, and also from the fact that firms have more cotton on hand than usual. Generally speaking, there are no yarn stocks at the mills. One is led to ask what would have been the position to-day had the mills been working the full number of hours. The result would have been something like commercial suicide. Higher-priced cotton, reduced margins and losses, and stocks of yarn on hand. In fact, there would have been all-round complaining. Dividends would have become scarcer, and debit balances larger. The short-time movement, severe as it has been for everybody concerned, has been the salvation of the trade. It is a policy that was strongly advocated by the late Mr. James Mawdsley, and the present successful movement stands as a monument to his memory.