File: Schemes of Arrangement

Scope and Content

Correspondence and papers relating to schemes of arrangement with local spinning firms. The schemes of arrangement were agreements made by debtors to repay creditors (in this case the Association) and avoid bankruptcy. The Association had traditionally invested large sums in local spinning firms. During the onset of the Depression, it attempted to call in many of its loans, but in many cases the firms were unable to repay. The firms referred to include: Alder Spinning Company (1920) Ltd.; Bee Hive Spinning Co. Ltd.; Butts Mills Ltd.; Cannon Brothers Ltd.; Drake Spinning Co. Ltd.; Combined Egyptian Mills Ltd.; Cowling Spinning Co. Ltd.; Hall Lane Spinners Ltd.; Irwell Bank Spinning Co. Ltd.; Laburnum Spinning Co. (1920) Ltd.; Lancashire Cotton Corporation Ltd.; Mather Lane Spinning Co. Ltd.; Mavis Mills Ltd.; Park Mill Spinning Co. Ltd.; Swan Lane Spinning Co. (1920) Ltd.