Cotton's Needs

At General Johnson's suggestion, code authorities in Washington have been making surveys of potential buyers for machinery, plant equipment, and other products of capital goods industries--slowest to respond to Recovery. Last week the first to report was the cotton textile industry, which was also the first to sign a code. After a survey of 500 cotton mills representing one-half of the industry's 30,000,000 spindles, the Cotton Textile Code Authority discovered that mill owners were willing to spend $86,000,000 in addition to present commitments in the next 18 months -- 60% for manufacturing equipment, 25% for plant construction, 15% for auxiliary machines--provided certain obstacles could be removed: 1) the Securities Act, 2) the proposed Wagner bill (free choice by labor on union question), and 3) the Connery bill (30-hr. week).

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