To the Editor of the '"NorH-Cuina Dat News."
Sin—When I addressed the. pub-lie through your columns last summer regarding the inflated values of cotton mill shares I was considered a pessimist, to say the very least. Time has shown, however, who was right. I will once more risk my reputation as a prophet and warn the investing public that because money is easy and plentiful this does not justify indiscriminate. and injudicious buying of securities. Everyone knows that the mills have done excellently for the past year, but very few know that the prospects for 1930 are decidedly gloomy. Cotton as compared with last year this time has risen approximately Tls. 4 yer. picul while yarn has fallen approximately Tls. 15 per bale, At. present there is no profit for the mill and the local stock of yarn exceptionally heavy at 300/110,000 Bales. Furthermore 250/300,000 additional spindles come into operation this year. I predict that before mid-summer the majority of our mills will have to go on short time, What adds to the public confidence is the periodical resurrection, by interested parties, of the Ewo bonus share rumour.
Let the investor stick to his gilt-edged shares and he will-have no cause for regret.
Tam, ete,
Text read from the printed page and cleaned; old type leaves the occasional error.