THE NORTH NEW ZEALAND WOOLLEN COMPANY.

Auckland Star, Volume XIX, Issue 220, 18 September 1888, Page 2

THE NORTH NEW ZEALAND WOOLLEN COMPANY.

(To the Editor.) Sin, —As usual with New Zoaland companies, the North Now Zealand Woollen Manufacturing Coiripariy is tb be wound up, and, as; u^uali Lsuppose all'the aJboall shareholders' interest will be transferred and a few bf the large shareholders will •take over the concern

The last report showed that the Company is and likely to be a paying concern-, and that the assets are all but equal to the liabilities. ' ... ;. When we consider that our gobdß can be inariufactured ■ as. reported at a profit, arid that, there. is. a demand -for double the quantity we are producing, does ib not look an -extraordinary proceeding--'•to .. ask 7 for proxies for: the purpose of winding up, more particularly as .(since, the' flattering report of iprofit-making eubmitted- by the directors there has. been a protective tariff put on and everyfchirig looks as if it could be made a very profitable concern . ■■-~' .'■', I Would ask the shareholders ridt to send proxies for the purpose of winding up, but to leave it to those who attend the irieeting to decide whether other aurim^erriehts banhot be made; --1 am of opinion that" evte now this Company; can bo made a very jprofitable business, and in the interest of the original.shareholders, and of coiripariies in New Zealand, it should be carefully cbnsiderbd as to winding it up.—l ara, etc.," '-„' Wii__ia__ MoJitok.o:

Onehunga.