In view of the recent demand in Shanghai for an almost wholesale cancellation of contracts for piece-goods, a report from Now York npon'a similar subject, showing the length to which the" evil may g0, deserves attention. The woollen and worsted manufacturers were the people interested in the New York case, and in the course of a meeting to discuss the position a Mr. Webb put forward an estimate that 95 per cent. of manufacturers were accepting cancellation without protest. Ho told. the industry that it had itself to blame for this state of affairs. Even in normal times, he pointed out, it had been customary. for the mills to accept more orders than could be filled because cancellation of a certain percentage was invariably expected. One can hardly imagine that this is the soundest way of doing business, in fact this policy undoubledly gave rise to. the evil
Text read from the printed page and cleaned; old type leaves the occasional error.