Canadian textile journal . et in. When one reviews the situation now in compari-son with the situation in other branches of industry,and in particular, when compared with the conditionof the textile industry in other countries, that optim-ism would seem to have been justified. At the beginning of the year, out of 1,100,000 cottonspindles in Canada, only 681,012 were at work. Pro-duction had been cut fifty per cent, from normal. Atthe end of the first six months the returns showed spindles at work, of which 184,358 were on shorttime. These returns, worked out over the whole of therepor
Canadian textile journal . et in. When one reviews the situation now in compari-son with the situation in other branches of industry,and in particular, when compared with the conditionof the textile industry in other countries, that optim-ism would seem to have been justified. At the beginning of the year, out of 1,100,000 cottonspindles in Canada, only 681,012 were at work. Pro-duction had been cut fifty per cent, from normal. Atthe end of the first six months the returns showed spindles at work, of which 184,358 were on shorttime. These returns, worked out over the whole of thereporting spindles indicated a suspension of the in-dustry during the half year of only weeks. Out-side of India, no other important textile manufacturingcountry had made nearly as good a showing in thecotton industi-y. Britain, for instance, showed a sus-pension of weeks; France, a suspension of almost7 weeks ; Italy, weeks : Czecho-Slovakia, weeks , weeks ; Belgiiim, weeks ; Switzerland,. weeks; Poland, weeks: and so on throughother countries of lesser note. The recovery, though slow, and slower than antici-pated, was more rapid in Canada than it was in almostany other country, but even so, the trade may be saidto have been in a state of convalescence during thewhole year, as it was only towards the end of the yearthat it began to feel itself approaching anything likeits old strength. While most of the cotton companieshad to take big losses, slash inventories and proceedm a cautious and conservative manner all through theyear, the annual financial statements of the differentcompanies were comparatively satisfactory, and showedthat they had emerged or were emerging from theperiod of readjustment in a manner that reflected a«-ise caution on the part of the management of thevarious concerns. All year the cotton companies havebeen working on a smaller margin of profit in an en-deavor to stimulate business. In this commendableeffort the
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