THE WAY TO PROSPERITY.

Press, Volume LVI, Issue 16852, 4 June 1920, Page 8

THE WAY TO PROSPERITY.

Under the above heading "The Dominion" recently made a plea in a leading article for the enlargement of our secondary industries.

"An extension of local manufactures," it says, "is the only hopeful moans of modifying appreciably tho conditions in wliich the prosperity of the Dominion is governed largely by demand and price in oversea markets. Although primary industries are and will be its mainstay for a very long time to come, New Zealand has everything to gain from having such a second string to its bow, as flourishing secondary industries developed on a considerable scale would represent." Those who recognise ihe truth of such sentiments will be pleased to lea-rn of a proposed extension of otir woollen manufacturing industries. The "Wanganui Woollen Mills, Ltd., has l>->en incorporated with a capital of £200,000, and 120,000 shares are now offered to the public for .subscription. There is every reason to anticipate that the new company will in due course emulate tho financial success that has been achieved by the three existing woollen mills, which, however, are quite unable to cope with the demand for woollen goods. "Wanganui is considered to offer an admirable situation for tbe establishment of.a woollen mill—it has convenient rail and harbour facilities, it is the outlet for a large wool-growing district, and electric power will be available by the time the mill is erected. One hundred and twenty thousand shares in thr* new company are being offered to the public. Particulars arc given in the complete prospectus which, together with application form, mhy be obtained from tho local brokers. Messrs J. O. Jameson and Co., 152 Hereford street, Christclmrch, cr from the interim secretary, Mr E. M. SiP*. F.1.A.N.Z., Wanganui. 23