§ 151. Wing-Commander Robinsonasked the President of the Board of Trade what are the administrative charges involved in Government controlled buying and selling of cotton; and whether these charges are fully covered in the selling price of cotton.
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§ Sir S. CrippsCurrent administrative charges are at the rate of about £160,000 a year. These costs are covered in the prices at which raw cotton is sold.
§ 152. Wing-Commander Robinsonasked the President of the Board of Trade the approximate amount of cotton spinners' capital tied up in carrying abnormal stocks of cotton on account of the Cotton Control enforcing immediate instead of future delivery.
§ Sir S. CrippsSpinners' stocks of cotton are about 12 weeks consumption compared with about six weeks before the war. The cost to the spinners of the additional stock may be about £7 million. Following the destruction of Liverpool warehouses, spinners were asked to help in alleviating the acute shortage of storage space by increasing their own stocks. Storage is still short, and it is hoped that they will continue to give their cooperation.