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TRAINING BOARD PLANS.
Grants to be made by the Cotton and Allied Textiles Industry Training Board in its second training year starting in August are to be higher than in the previous twelve months but the levy, in effect, will be slightly lower. The actual levy remains at 0.9% of emoluments but on this occasion the first £5,000 is to be excluded.
The Board anticipates a significant reduction in administrative work by streamlining its grant system and by other changes in procedures. In this connection cash values are to be provided for operative training while after a grant has been approved it will only be necessary for firms to transmit the "net" amount due to the Board in one transaction.
An interesting new idea is the additional £25 grant offered to firms whose chief executive, or an executive director on his behalf, attends a one-day seminar arranged by the Board on management and supervisory training and development.
THE MARKETS.
Trading in raw cotton again lacked incentives, the offtake being confined to small follow-on needs. Spinners did not want to build up stocks. Renewed easiness in the London futures market brought quotations to much lower levels and activity was light. The continuing decline in actual values made buyers nervous and the Liverpool c.i.f. index reacted a further 15 points on the week to 27.60 cents. Imports of raw cotton into Liverpool last week totalled 20,265 bales, the quantity afloat being 56,538 bales,
Interest throughout the Manchester yarn and cloth market was centred on the changed policy over imports despite the fact that the adjustments will not take place for more than two years ahead. Complaints from overseas suppliers were, as anticipated, vociferous but traders on this side were not impressed by the arguments raised and continued their own discussions on the relative merits of tariffs and quotas. The abandonment of categorisation secmed a vital factor in the proposals.
Actual business was rather slow although dealings were by no means at a standstill. Many users were carefully watching their stock position and forward contracts were mainly in small lots. Standard goods moved off steadily for home use.
YARN QUOTATIONS.
This Week. d.
Week Ago.
d.
Year Ago.
d.
American type.
6s ring tube
16s 11
11
45.00
45.00
44.00
•
·
52.50
52.50
50.00
24s
58.50
58.50
58.00
32s
11
11
61.50
61.50
58.75
36s combed ring tube 16s ring beams
•
77.00
77.00
76.25
58.50
58.50
54.00
20s 11
"
•
67.00
67.00
62.75
32s
11
70.50
70.50
66.25
Sudan type.
54s carded ring tube ..
86.50
86.50
81.50
58s combed !!
100.00
100.00
90.00
38s combed hosiery (cone)
82.00
82.00
80.00
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