The Ashburton Guardian. Magna Est Veritas Et Prevalebit. SATURDAY, JANUARY 14, 1882. Our Projected Woollen Factory.
TOWN EDITION. [lssued at 430 p.m. j
We are very pleased to find that the project of a Woollen Factory for Ashburton is not to be allowed to fall to the ground. At the last public meeting of persons interested in the scheme, held yesterday, it was reported that about 400 shares had been placed, that is,' that promises of support to that extent had been received. Some*; very im-
portant matters were discussed in connection with the proposal at this meeting—the question of capital for one. Mr Bullock’s suggestion that the capital be fixed at ,-£25,000 instead of ,£50,000 (and which was ultimately adopted), we regard as a very sensible one, while the same speaker proved what a thorough man of business he is when he added that for his part he did not look or hope for large profits during thei infancy of the Factory. This is thejproper view to take of it. It is no use!to attempt too much at first; the company must creep before it thinks about running. If the scheme is carried successfully through, and we can see no reason why it should not be, the present year will be a most important one in the annals of Ashburton, for it will see the inauguration of two most important local industries in the place. Of the success of the Cheese and Butter Factory there can be but very little question now, for it has received the warm support of a number of the most influential residents of the town and district, and if the public will only interest themselves in the Woollen Factory to a like extent there can be no reason why Ashburton should not be as famous in the future for its tweeds as other places. The fostering of local industries should engage the earnest attention of every colonist who has the welfare of his adopted country at heart. Let us make ourselves as independent of the mother country as possible, so far as importation goes. It is high time we did so, and that we showed the old country that “ anything is not good enough for the colonies.”