Fine Spinners and Doublers
Encyclopedia
Fine Spinners and Doublers was a major cotton
spinning business based in Manchester
, England. At its peak it was a constituent of the FT 30 index
of leading companies on the London Stock Exchange
.
Fine Spinners and Doublers, formed from a group of spinning companies specialising in fine Sea Island Cottons, was registered on 31 March 1898. The Fine Cotton Spinners and Doublers Association Limited had the objective of promoting the interests of cotton spinners in North West England
. It was founded through the efforts of Herbert Dixon and Scott Lings in 1897. Businesses that joined in this enterprise at the time included A&G Murray Ltd
, Houldsworths
, CE Bennett & Co, James & Wainwright Bellhouse and McConnell & Co; but many more followed in subsequent years.
The new association was vast compared with its competitors and its large size enabled it to secure its supplies of cotton from Sea Island
and Egypt.
For thirty years it was the world's largest cotton-spinning concern, expanding to operate 60 mills and employ 30,000 operatives.
when she was sunk by enemy action. He survived and wrote an account of the sinking which was published in the Manchester Guardian.
replaced Fine Cotton Spinners and Doublers in the FT30 as the latter completed a capital reduction and reorganisation programme.
In 1946 the name of the business was changed to Fine Spinners' and Doublers' Limited. During the next five years there was a sustained boom in the textile industry owing to the worldwide shortage of cotton goods. Yarn production increased by 50 percent but output contracted by 28 percent; the Lancashire industry had collapsed.
Fine Spinners and Doublers was acquired by Courtaulds
in 1963.
Cotton
Cotton is a soft, fluffy staple fiber that grows in a boll, or protective capsule, around the seeds of cotton plants of the genus Gossypium. The fiber is almost pure cellulose. The botanical purpose of cotton fiber is to aid in seed dispersal....
spinning business based in Manchester
Manchester
Manchester is a city and metropolitan borough in Greater Manchester, England. According to the Office for National Statistics, the 2010 mid-year population estimate for Manchester was 498,800. Manchester lies within one of the UK's largest metropolitan areas, the metropolitan county of Greater...
, England. At its peak it was a constituent of the FT 30 index
FT 30
The FT 30 is a now rarely used index that is similar to the Dow Jones Industrial Average. It has since been superseded by the FTSE 100, introduced in 1984....
of leading companies on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
.
History
North West England
North West England, informally known as The North West, is one of the nine official regions of England.North West England had a 2006 estimated population of 6,853,201 the third most populated region after London and the South East...
. It was founded through the efforts of Herbert Dixon and Scott Lings in 1897. Businesses that joined in this enterprise at the time included A&G Murray Ltd
Murrays' Mills
Murrays' Mills is a complex of former cotton mills on land between Jersey Street and the Rochdale Canal in the district of Ancoats, Manchester, England . The mills were built for brothers Adam and George Murray. A & G Murray was consistently one of the largest cotton-spinning firms in Manchester...
, Houldsworths
William Houldsworth
Sir William Henry Houldsworth, 1st Baronet was a mill-owner in Reddish, Stockport. He was Conservative MP for Manchester North West from 1883 to 1906, and sometime chairman of the Fine Cotton Spinners' Association...
, CE Bennett & Co, James & Wainwright Bellhouse and McConnell & Co; but many more followed in subsequent years.
The new association was vast compared with its competitors and its large size enabled it to secure its supplies of cotton from Sea Island
Sea Island
Sea Island may refer to:*Sea Island , an island in Richmond, British Columbia that contains the Vancouver International Airport*Sea Island, Georgia, an isolated resort island in Glynn County, Georgia...
and Egypt.
For thirty years it was the world's largest cotton-spinning concern, expanding to operate 60 mills and employ 30,000 operatives.
First World War
In 1915, its vice-president, McConnel was on the RMS LusitaniaRMS Lusitania
RMS Lusitania was a British ocean liner designed by Leonard Peskett and built by John Brown and Company of Clydebank, Scotland. The ship entered passenger service with the Cunard Line on 26 August 1907 and continued on the line's heavily-traveled passenger service between Liverpool, England and New...
when she was sunk by enemy action. He survived and wrote an account of the sinking which was published in the Manchester Guardian.
Contraction and closure
In 1938 Lancashire Cotton CorporationLancashire Cotton Corporation
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.-Formation:By...
replaced Fine Cotton Spinners and Doublers in the FT30 as the latter completed a capital reduction and reorganisation programme.
In 1946 the name of the business was changed to Fine Spinners' and Doublers' Limited. During the next five years there was a sustained boom in the textile industry owing to the worldwide shortage of cotton goods. Yarn production increased by 50 percent but output contracted by 28 percent; the Lancashire industry had collapsed.
Fine Spinners and Doublers was acquired by Courtaulds
Courtaulds
Courtaulds was a United Kingdom-based manufacturer of fabric, clothing, artificial fibres, and chemicals.-Foundation:The Company was founded by George Courtauld and his cousin Peter Taylor in 1794 as a silk, crepe and textile business at Pebmarsh in north Essex trading as George Courtauld & Co...
in 1963.