WELLINGTON WOOLLEN CO,

Dominion, Volume 8, Issue 2560, 7 September 1915, Page 8

WELLINGTON WOOLLEN CO,

ANNUAL. MEETING. •, . The annual meeting »of of tlw .Wiling, ton Woolien M'an l Co., Ltd., was held, yesterday. Mr. H. P. Barber presided. ' ' . . .. - The chairman moved tho adoption, of tnc annual ropjart find, the . baJanoe-elieet, which, have already . been.- pubUelied. He said tha/t the company's profits durine the year had been abnormal, far exceeding; tho profits of" any other year. He wished to make it clear that tho .larger profits were not.due to increased prices, but through- the greater demand- for tho company's go ode owing to the restrictions I which "were upon importers'oh account of the war. The bigger-"demand had meant . greater preesure *ou the • manufacturing plant and greater effort' by tho staff. Much overtime •-was worked, in order : to increase the output of military and do* mcstic goods. As the staff aud operatives had worked loyally, the directorate»had rccommonded that they should receive a bonus of 5 per cent, on their year's pay. The . greater output reduced the cost of production, and enabled tho company to minimise the 'effect of rises in, : material. As regards supplies for the troops, it "was fortunate that there were "mills in the Do-minion capable of turning out .soldiers' clothing at. short notice. The possibility of tho cutting' off of dye supplies had caused the directorate some anxiety;. Tho dye trade had passod into the . hnnda, of the Germans to- such an extdnt that in recent years thdit country had provided EO per cent. of. the, world's dyes, and the sudden cutting off of that-source of supply was a 6erious matter to the textile trade.. There was 0. close connection between explosives and aniline and anthracene ' dyes, and to-day ' Germany'© great, dye l works were making high : explosives. • The motion to adopt tho repoTt and the balance-sheet -was-carried./ Mcssre, R. 0. Kirk and D. T. Stuart were xe-olectcd to* the . directorate. . Messrs. • Henry "Kcraber and Son and j.Mr. E. \Y. Hunt were reelected. auditors, and their remuneration was fixed at £105 .each. Tho : directors were granted ft bonus ol £SCO a 6 an aippreciation of their year's -work. , ,