Tomentloned at our last meeting that the general managers were losely studying the question of further extensions to. the worsted plant, and indicated that. these extensions would be effected before our meeting this year. T am glad to inform you that these anticipations have been realized. The number of looms has been increased from 30 to 60, and a further 1,800 spindles have been installed to enable us to produce the extra yarn required for ls>: to Increase our production of Knitting yarns. Both cur knitting yarn and. wor the 1996 cotton crop in China was, i believe, the best and biggest on record and would appear that in spite of the Jorge increase in spindles and pro duction, the supply, will be ample to full the requirements of the tra before next season's crop is mark td, The final estimate of the China Cotton Statistics " Asscclation was lven_ as 14,000,000 piculs as against 8,200,000 piculs in 1035. These gures, Tam sure you will agree are a matier for congratulation to the Central Government and indicate the rear strides made by China In the development of one of her fund mental requirements, ute prices have Kept fairly steady throughout the year.
Text read from the printed page and cleaned; old type leaves the occasional error.