London, June 15.
The control of production by quota Jclimination of surplus plants, uniform sales contracts and amalgamation of independent firms, are recommendations for reviving the eaton industry, submitted to-day by the special committee of the Master Spinners' Federation, appointed in August, 1958, The committee dwells onthe failure Jot past efforts to reach an agreement. [Only 31 from 187 companies, it points Jout, paid dividends last year, and it is hopeless to expect ever again to employ all existing spindles.
Meanwhile, at the least sign of recovery all will begin spinning, and overproduction will be followed by renewed depression, Individualism, the committee declares, must be subordinated to unity' of effort and purpose. The value of this has already been shown by the yarn price agreements, "The committee advocates the formation of a new association which will have powers that can be legally en-foreed, to achieve unified control: with @ common policy to levy funds. for the purpose of buying up re-dun dant plants.
The committee believes that 90 per cent. of cotton mill-owners will agree that he is a pessimist who says that only government compulsion can achieve unity between cotton merchants.
Text read from the printed page and cleaned; old type leaves the occasional error.