THE WELLINGTON WOOLLEN COMPANY.
BEST YEAR YET. (By Telegraph— Press Association.) WELLINGTON, Wednesday. The animal meeting of the Wellington Woollen Company waa held to-day. Mr W. H. P. Barber (chairman of directors) in moving the adoption of the report and balance sheet and payment of a dividend of seven per cent, said that the statement now laid before the shareholders was the best yet published. The company was in a very strong financial position. Sales for the year constituted a record. The only drawback to their operations was the perennial shortage of suitable workers. Woollen companies were now working under a Dominion award with a currency of three years from May last, and were paying £500 a year more in mill wages. The reserve had been strengthened by £1,550, and indebtedness reduced by £7,800. The expenditure for new machinery had been £3,707. The sum of £5,000" had been written off for depreciation, making the total written off £58,344, equal to 44 per cent from the original value of the plant and buildings. The stock was less by £8,282, and ljpok debts higher by .-£2,541,_-due-4o_-tli&..laQ;eriutn<wer,
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Auckland Star, Volume XLIII, Issue 213, 5 September 1912, Page 8
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184THE WELLINGTON WOOLLEN COMPANY. Auckland Star, Volume XLIII, Issue 213, 5 September 1912, Page 8
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