11. Mr. ALFRED DAVIES (Clitheroe)asked the President of the Board of Trade whether he was aware of the concern operating amongst all classes in Lancashire owing to the activities of syndicates who were purchasing cotton factories at inflated values; whether he was aware that the effect of such activities would tend towards maintaining the present high prices for cotton goods, and also react against the cotton operative from participating in the benefits accruing from the prospective boom in the cotton trade; and what action, if any, was being taken to prevent any further operations of these syndicates?
§ Sir A. GEDDESI am aware that a number of spinning mills in Lancashire have recently been acquired by syndicates at what appear to be very high prices, and in so far as these prices are speculative it is obvious that such transactions may have very undesirable consequences; but as at present advised I do not think that His Majesty's Government has any power to interfere.