WELLINGTON WOOLLEN CO.
ANNUAL MEETING. SHORTAGE OF LABOUR. [per press association.] Wellington, Sept. 6. At the annual meeting of the vVellington Woollen Co. to-day, the Jhairman, Mr. W. H. P. Barber, ;uid the affairs of the company were ;oing on satisfactorily. A dividend >f 7 per cent, was maintained, new machinery had been installed and .mprovements effected to the amount if £10,652. A larger amount would >e carried forward than last year nd the amount for depreciation tad been increased.
Air. Arthur Warburton adversely •riticised the balance-sheet, and omplained that the large increase >f stock, insufficient provision for lepreciation and shrinkage, of busi:ess and that the provision for maintenance was too slight. He said ( at the profits showed a shrinkage.
The chairman refuted Air. AVarimrton’s statements and the report ind the balance-sheet were adopted.
The Chairman of Directors said the company’s chief problem was the perpetual shortage of suitable labour at the mills, especially in the ease of young people. This placed .-hern at considerable disadvantage with outside manufacturers, with the result that the foreign product was annually imported in increasing quantities. •
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Bibliographic details
Hawke's Bay Tribune, Volume I, Issue 222, 6 September 1911, Page 6
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182WELLINGTON WOOLLEN CO. Hawke's Bay Tribune, Volume I, Issue 222, 6 September 1911, Page 6
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