July, 1908.] 



25 



Fibres. 



commission is charged, which covers 

 brokerage, and a large business is being 

 built upon a sound commercial basis. In 

 many cases the Association has been 

 able to arrange for the planters to draw 

 for 75 per cent, of the value on shipment. 

 An increasing business of a remunerative 

 nature is being established in supplying 

 stores, machinery, etc, on a commission 

 basis, which is of mutual advantage, as 

 the Association, owing to its large 



turnover, is able to buy on the best 

 terms. It is hoped that in a short time 

 the income arising from this business 

 Avill fully cover the whole of the estab- 

 lishment charges in Manchester. 



In conclusion, the Council congratulate 

 the shareholders on the progress which 

 has been made in all directions during 

 the last 16 months. — The British Cotton 

 Growing Association's Third Annual 

 Report, No. 28. April, 1908. 



