The Archive · 1927

RUSSIA'S COTTON PURCHASE

London, Nov. 20.

'A telegram from Cairo states] that "the cotton deal between the, Soviet and Egyptian Governments has been definitely concluded, a British bank guaranteeing pay-

Cairo, Nov. 21.

Fourteen thousand bales of high quality cotton are reported to be involved in the agreement between the Soviet and Egyptian Governments, The Egyptian Government declined to 2ecept the guarantee 'a Russian bank. Hence a draft of the agreement has been submitted to a London bank, a reply from which is being awaited.

Tt is ascertained that the agreoment relates to the purchase of] 110,000 kantars of cotton from the Egyptian Government stocks, subject to a guarantee of—£200,000. The Soviets have asked Lloyd' Bank, London, to give a guarantee that the price fixed for Good Sakel-landis will be four dollars above the futures market, the price thus working out at about $40} a kantar—Reuter.

Text read from the printed page and cleaned; old type leaves the occasional error.

Your account