WOOL TEXTILE INDUSTRY

Evening Star, Issue 17927, 24 March 1922, Page 4

WOOL TEXTILE INDUSTRY

THE KEI cohpahy.

M BAWEA'S ’’ INVESTMENT.

Pres a Association—By’ Telegraph—Copyright, Australian and N.Z. Press Association.

’ ' MELBOURNE, March 24. (Received March 24. at 11,20 a.m.’,

In consequence of the depression in tho wool textile trade, tho financial resources of many Bradford concedes have seriously diminished. “ Bawra” was approached and invited to subscribe to a new company, the Vvvji Te.-d.iio I'.im.nce Company, with a capital of. £!J,000,000, the object being te finance suitable concern* to enable them to resume normal trading or to extend thoic operations. “Bawra” decided to invest £52,000 in the company. Sir John Higgins, in- explaining tho position, stated that the director.! of the British and Aust-ali&n Board* considered it in .the host indicate of tho v,-e>l owners to assist such firms. It showed that the owners were ready to co-operate' with tho manufacturers and distributing houses in overcoming the difficulties common te tho .industry. it also provided an opportunity for advancing tho claims of ws- | bred wool, as “ Bawra ” V«j participating on the undci-standing that mainifa.ctuaros from cross-bred wool would' ho encouraged. An agreement had also been made to insure not less than 75 par oont. of “ Bawra’s ” subscription with Moyd’a cn moderate terms.