THE WOOLLEN INDUSTRY.

Manawatu Standard, Volume 4, Issue 273, 22 October 1883, Page 2

THE WOOLLEN INDUSTRY.

■- — r-i — • . — TT" . In- the sixth annual report of the Kaiapoi Woollen Manufacturing Com-- ' pany the directors state that they " are of opinion that the operations of the year may.be considered satisfactory; yet this has not been accomplished without a large amount of pushing and careful watching, and it' is certain thai* if the import trade continues to be overdone as during the past year, the present woollen mills m J^Tew Zealand , will be more than equal to all demands. The mill is now lighted by the .Q-ulcher electric light system, and it has so far given complete satisfaction, producing double the amount of light at a greatly reduced cost on the old system of gasolene lighting. The. profit and loss account, after making amp'e allowance /for depreciation on plant and buildings, shows a surplus for the year, including the balance brought forward from last year; of £19,222 18s Id. y This amount the directors recommend should be appropriated as follows : — Dividend at the rate 6i 10 : per cent, per annum, absorbing about £9500 (interim dividend to 31st March, at same rate, having already been paid), £5000 to the formation of a reserve fund, leaving abouV£47oo to* -be •'carried forward fo account."