Method Adopted for Curtailing Yara Production London, Sept, 29.
The agreement reached "at the cotton conference held at Manchester provides that curtailment of yarn production throughout the American! Section shall be dealt with section. ally and not by the method of treating all alike regardless of the amount of work they have on hand and the state of their stocks, and that a system of basis prices for} yarns shall be adopted whereby' prices will be fixed according to the! price of the current month of futures, plus points on and something for costs.
While all branches of the cotton trade express satisfaction with the agreement, Sir Edwin Stockton, M.P. (Conservative) for the Ex. change Division of Manchester, doubts whether the agreement will result in anything more than tem. porary alleviation of the position, He re-emphasizes the necessity of, putting American yarn production on an economic basis in order satisfactorily to meet competition, Sir Charles Macara, President of the Federation of Master Cotton' Spinners' Associations, declared that} we bodies with no compulsory powers and without the ce-operation. ces can banily expect}
Text read from the printed page and cleaned; old type leaves the occasional error.