"Daily Mail," presiding at a meeting of the Five Cotton Spinners' and Doublers' Association in Manchester, spoke of the recent specula ation in Lancashire mills and said: "I can only compare this movement to the South Sea Bubble, and the day of reckoning will come as surely as it did in that wild period of speculation.
"In my opinion an__ inevitable reduction of values must take place, leading to an enforced writing down again of capital and a consequent serious loss to the present buyers. I do not blame the sellers. who, being human, naturally accept a profit of from 200 to 500 per cent. On the other hand, all my sympathy is with the buyers of what T look upon as inflated share."
Text read from the printed page and cleaned; old type leaves the occasional error.