A NEW DEPARTURE

Dominion, Volume 9, Issue 2871, 8 September 1916, Page 7

A NEW DEPARTURE

WOOLLEN MILLS TURN WAREHOUSEMEN. . In-the course of his. address to the shareholders at tho annual meeting of the Wellington Woollen Company, held on Wednesday, Mr. W. H. P. Barber (tho chairman of directors) said: "On this occasion, twelve months ago to-day, I explained that the extra profit then showing was duo to the larger turnover, brought about, in a groat measure, by tho increased demand for tho company's manufactures, consequent on the tfijen existing difficulties in tho way of buyers importing. At that time, -'having a substantial quantity of stock of our own make, wo wore able to accept promptly tho now .business offering, so making a record output for tho year ending July 31, 1915.. In tho twelve months now under roview, a different- condition existed, as our plant—as ,is stated in tho report—was much more occupied with military orders than before, and that being so, our, domestic trade, in our own manufactures has suffered by the depletion of stock through tho mills being practically commandeered. However, with "greatly relieved facilities for obtaining kindred supplios from outside sources, we have been ablo to push the sale of bought goods to a largo oxtcnt, thus making up for tho lessened output, from our own works, of tho trade's requirements. Tho bought goods branch of our business, instituted prior to the war, and which at best we had hoped to expand gradually, has devoloped with rapidity, and it 'is tho intention of tho directors to endeavour not only to retain, but en. courage, that development. "It is a cause for congratulation thas wo have been ablo to add so important an adjunct to our already extensive operations, without calling on tho shareholders for additional capital."