HOPEFUL OUTLOOK.

Auckland Star, Volume LXVI, Issue 269, 13 November 1935, Page 26

HOPEFUL OUTLOOK.

WOOLLEN COMPANY'S YEAR.

PROSPECTS MUCH BRIGHTER. (By Telegraph.—Own Correspondent.) DUNEDIN, this day. f ?As was the case in 1933-34 period the past year has been a most difficult one in trading conditions, and has caused the directors and management a good deal of thought," declared Mr. J. S. Hislop, chairman of directors of the Mosgiel Woollen Company, at the annual meeting. Imports from abroad of large quantities of medium and low-class goods, some of the latter wrongly described as "all wool" or "woollen," had had a serious effect on the sale of the company's higher-class goods, and unless drastic steps were taken to have those importations correctly described the trouble would continue, he said. Whilst it had never been considered by the directors advisable to speculate in wool, it was thought that in view of the low range of values ruling last season and the very much reduced rate of interest 011 deposits it would be a sound investment to purchase more than their annual requirements. That decision had been fully justified. The prospects for those engaged in primary industries was much brighter than this time last year, and with higher values ruling the purchasing power of the public should be considerably improved. With larger stocks at the company's disposal, and already a decided increase in orders, the directors were hopeful that the coming year would show an improvement in trading.