An announcement of great, and possibly far-reaching importance in connection
with the cotton trade was made at Manchester on Tuesday. As the result of a joint meeting in Manchester of the representatives of the Employers' Federa- tion and the Operative Spinners' Amalgamation, an arrange- ment was come to by which an advance of five per cent, in wages was granted "on the understanding that it is recognised on both sides that an earnest endeavour be made to complete the conciliation scheme" for the automatic regulation of wages. It is also understood that, failing agreement on such a scheme, a return of bad trade—after an interval of a twelvemonth—shall warrant a reduction of wages. This amicable settlement, for which praise is due to employers and operatives alike, is generally regarded as lending a powerful impetus to the conciliation scheme, the furtherance of which was one of the conditions of the compromise arrived at last August.