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Foreign News
December 22, 1926
The Watchman And Southron
Sumter, Sumter County, South Carolina
What is this article about?
Egyptian charge d'affaires Ismail Kamel Bey announced in Washington that the Egyptian government will purchase cotton to stabilize prices and counter local speculations causing abnormal falls, following news of curtailed cotton growing.
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Full Text
Egyptian Government Buys Cotton.
Washington, Dec. 18,-(A)-On the heels of news received here that the Egyptian government had curtailed cotton growing, Ismail Kamel Bey, Egyptian charge d'affaires, announced today that due to speculative elements his government would further intervene and become a purchaser in the Egyptian cotton market.
The statement emphasized that Egypt, in intervening as a purchaser, did not do so to raise the price artificially but to stabilize it and "put to an end local speculations," which have caused an abnormal fall in price there.
Washington, Dec. 18,-(A)-On the heels of news received here that the Egyptian government had curtailed cotton growing, Ismail Kamel Bey, Egyptian charge d'affaires, announced today that due to speculative elements his government would further intervene and become a purchaser in the Egyptian cotton market.
The statement emphasized that Egypt, in intervening as a purchaser, did not do so to raise the price artificially but to stabilize it and "put to an end local speculations," which have caused an abnormal fall in price there.
What sub-type of article is it?
Economic
Trade Or Commerce
What keywords are associated?
Egyptian Cotton Market
Government Intervention
Price Stabilization
Speculative Elements
Cotton Growing Curtailment
What entities or persons were involved?
Ismail Kamel Bey
Where did it happen?
Egypt
Foreign News Details
Primary Location
Egypt
Event Date
Dec. 18
Key Persons
Ismail Kamel Bey
Outcome
government intervention to stabilize cotton prices and end local speculations causing abnormal fall.
Event Details
Following news of curtailed cotton growing, the Egyptian government will intervene by becoming a purchaser in the cotton market due to speculative elements. The intervention aims to stabilize prices without artificial raises and end local speculations.