WOOLLEN EXPANSION

Auckland Star, Volume LXXIII, Issue 199, 24 August 1942, Page 5

WOOLLEN EXPANSION

TAX RELIEF IS ESSENTIAL " The industry is urged to expand, for one important reason, to give employment later to returned service men. but suecessful post-war industrial development ♦ - mo re sympathetic consideration than is shown by the present rate of '"cojpetax," said the chairman, Mr. W. D ; at the annual meeting of the Wellington Woollen Manufacturing Co., Ltd. It was clear that at present there was an intense demand for wool, due principally to the clothing of the armed forces the world over. That particular necessity might cease abruptly but a large field of wool would still remain. Civilian stock shortages of woollens and worsteds, outer and underclothing, would take a long time to fill, and also new adaptabilities existed for the fibre, enabling it to replace, or competc more than ever, with other tissues. Last year at this period they had on order mill machinery to the value of £22,000. but up , to , 30 succeeded in landing only £88(2 of it, but another £8100 lid arrived since that date. They had fo" some time been gradually adding to plant and buildings, and in the last three years had ac.ded £15,254 to buildings and £31 241 to machinery.