This paper revisits the Bank of England’s industrial intervention in the interwar years, focusing on its involvement in the British cotton industry, which can be regarded as a ‘natural experiment’ in the Bank’s engagement with the comprehensive reorganisation of an industry. It examines the formation of the Lancashire Cotton Corporation, the most radical reorganisation scheme in the American section of the British cotton industry during this period. Furthermore, this study explores the influence of contemporary debates on ‘rationalisation’ in shaping the Bank’s industrial intervention. These debates distinguished between ‘technical rationalisation’, whose aimed at improving production technology and management, and ‘economic or industrial rationalisation’, which sought to restructure the industry as a whole.

This study reveals that the Bank of England was unable to devise an effective reorganisation scheme based on the competitiveness and profitability of individual small cotton mills.

Moreover, its reconstruction strategies were heavily influenced by contemporary discussions on ‘economic or industrial rationalisation,’ which sought to reduce competition and redundancy by amalgamating numerous small firms into a single entity.

Finally, the Bank lacked effective strategies for implementing ‘technical rationalisation’ due to insufficient knowledge of the British cotton industry’s structure.

These findings shed new light on the Bank of England’s involvement in industrial affairs and its activities as a central bank.

This paper reveals the history of professional baseball business managed by Nishi-Nippon Railroad (NNR). NNR operated a few baseball stadiums to increase the number of railway passengers. In 1942, they attempted to host professional baseball games at stadiums, but this plan did not materialize. In 1949, they joined the Pacific League and gradually adopted the business model established by other railway companies. By merging with the Pirates in 1951, they emerged as the only professional baseball team based in the Kyushu region. In 1954, they built facilities for night games at the Heiwadai Baseball Stadium, run by Fukuoka City. In 1958, they fully renovated the stadium, began facility management, and acquired management rights for advertising signs and concession stands.

However, the contract with Fukuoka City was unsuitable for long-term maintenance and improvement. NNR decided to invest in Kokura Stadium in 1964 to develop a market in the Kitakyushu area. However, this investment failed to improve the company’s business. Furthermore, the company’s brand was severely damaged by the 1969 scandal. At the same time, the abolition of their Fukuoka-city-line became inevitable. Consequently, NNR lost its significance as a baseball business for earning railway fares. In October 1972, they decided to withdraw completely from the baseball business. This also resolved the difficult issue of renewing the contract with Fukuoka City.

The findings of this study are as follows. For facilities built by the public sector and used by private professional sports organizations, it is important to have a system to secure operating rights, a division of roles for maintenance and improvement, and long-term funding.