Salt Lake Telegram | 1919-10-31 | Page 16 | Expert Tells Why Cotton Costs More

EXPERT TELLS W WHY HY COTTON COnON COSTS MORE IE I 1 Spinning g Concerns Concern's Profits I Declared red t to Be Un Unreasonably Unreasonably rea- rea High HighBy 1 1 By Richard Foremost Foremost American American Economist Special Writer for fop The Telegram Evidently the British know something I df dr profiteering 1 Of fifty cotton spinning concerns c n of ile neg eg Lancashire reporting tn at the end of September Sep one declared a dividend of per percent percent tr cent one ono of SO 80 per cent three of 40 0 per percent percent I cent rive five of 30 per r cent e three of 25 per percent percent J. J J p cent three twenty n r o of 20 per cent t six sir of I Ii 15 o per r cent and d eight of 10 per cent This i enk-e enk Is an average n 0 of 23 per cent t Necessarily Necessarily i e actual u net earnings were In thae I I excess s of these dividends The London bankers who a announce mounce the dividends s say y that while this is the best I chow showing Ing recorded e in the e history t r of Lancashire Lan Lan- hi bigger returns elir elire may be e expected p dl by the companies whose reports win will bo be forthcoming at the end of the year But the American cotton spinner Is not far far behind If It some of the reports of New England and Southern mills may be taken I as proof prof One of t the big and n prominent ne mill corporations cor cor- corporations 1 JI tl I po o of New England which s some ears ago aco gave to its shareholders five shares of stock three stock three of common and two O of preferred preferred-in preferred preferred-In in exchange for each I share chare of or old stock they held has Just lust issued Is- Is sued Rued its annual report showing showing- net profits equal l to 45 per c cent on th the common n stock eth after providing o t for the e regular I dividend on the preferred It shows too of profit and loss surplus as against 1895 two years jears ago Tho The Boston Doston News Bureau which ranks hl high h In financial circles refers e to O this ml company's om nna lab earnings r ess a as little r U Us s short of sensational They are but unfortunately unfortunately they visit hardship 1 on the public