WOOLLEN FACTORIES FOR CHINA

Ashburton Guardian, Volume V, Issue 1411, 19 November 1886, Page 3

WOOLLEN FACTORIES FOR CHINA

From the last report of the council of the Woolgrowors* Association cf Aut» tra’asla we learn that strong efforts had been made to open up ttsdo with China and inquniee were being made with the view of starting a blauket factory in .Shanghai Information obtained ind’cated that. there was a good opening forsta-ting factories in China in the immediate future. T e c;st of cr oting a blanket factory and providing machinery was estimated at £6OOO, and it was expected that a ) ortirn of the capital required would be got in China As phoning the trade done, it is stated that 35,000 pairs of blankets were imported into .Hongkong and 4369 into Shangh i io the year while mtec- llaneous goods amounted t0£785,631. Inquiries had also been made respecting th»- piospec s of starling woollen facto:ies in Jh.p.m. The result had been of such a nature that the council drafted a circular of a proposed company w'th a nominal caritai ■ f £loo,oooln £1 shares, he snm of £15.000 being all that was required to make a start. The Japanese <re prepared to take 30 per per cent on the whole captisl. and otherwise showed theilt firm belief in the proposed company as a commercial euccass. The scheme cf the council, however, had not met with a very hearty response, as only 21C0 shares had been applied for, and the council express a s’rong hope “ that thle grand opportunity will not be allowed to lapse for want of a few thousand pounds being subscribed, as they consider that this is the first p-ac'ical e Bp for opening up trade wi f h the teeming millions in China in the fntn--p "