The Lancashire Cotton Corporation was a company set up by the Bank of England in 1929, to rescue the Lancashire spinning industry by means of horizontal rationalisation. In merged 105 companies, ending up in 1950 with 53 operating mills. It was bought up by Courtaulds in August 1964.
Read more about Lancashire Cotton Corporation: Formation, Sir Frank Platt, Hopwood Hall, The Final Days, See Also
Famous quotes containing the words cotton and/or corporation:
“We are constituted a good deal like chickens, which, taken from the hen, and put in a basket of cotton in the chimney-corner, will often peep till they die, nevertheless; but if you put in a book, or anything heavy, which will press down the cotton, and feel like the hen, they go to sleep directly.”
—Henry David Thoreau (1817–1862)
“What I am anxious to do is to get the best bill possible with the least amount of friction.... I wish to avoid [splitting our party]. I shall do all in my power to retain the corporation tax as it is now and also force a reduction of the [tariff] schedules. It is only when all other efforts fail that I’ll resort to headlines and force the people into this fight.”
—William Howard Taft (1857–1930)