THE Wairarapa Age MORNING DAILY. THURSDAY, MAY 17, 1923. THE WOOLLEN COMPANY.

Wairarapa Age, 17 May 1923, Page 4

THE Wairarapa Age MORNING DAILY. THURSDAY, MAY 17, 1923. THE WOOLLEN COMPANY.

After yesterday’s meeting there should be no further hesitation on the part of the people of Masterton and the district about putting their energy into the promotion of the woollen mills. The project has already been fully discussed, and yesterday’s meeting gave it warm approval. The proposal of Mr Will Appleton that a minimum of £30,000 should be subscribed locally before asking the public of New Zealand to find the balance is absolutely sound. It is useless to expect people away from Masterton to find capital until we have shown them that we ourselves believe in the project; and we can only show that by putting up the money. There should be no difficulty about this. The business people of Masterton are going to benefit from the very outset from the establishment of the mills, without even waiting until they pay dividends. Woollen factory operatives are not seasonal workers. They work all the year through, and arc paid every week. The payroll of 200 employees would mean probably £4OO per week, of which 90 per cent would undoubtedly be circulated each week in the town and through the tradespeople. That being so, there is not a tradesman in Masterton who would not reap every week in the year

sufficient to pay a good dividend on his share-holding in the woollen company. Once the mill is established the business community is going to bo handsomely repaid for its investment, irrespective of the dividends which the mill itself will earn in a few years. There should be no difficulty at all, therefore, in getting together the amount suggested by Mr Appleton.