THE KAIAPOI WOOLLEN FACTORY.

Daily Telegraph (Napier), Issue 3830, 25 October 1883, Page 3

THE KAIAPOI WOOLLEN FACTORY.

CiiniSTcnrECii, This day. The sixth annual meeting lif the Kaiapoi Woollen Factory was held yesterday. The directors' report states that additions to the plant have been made at a cost of £3000, that the directors have completed all the additions proposed, and that the mill is now fully equal *to all requirements. The operations of tho year have been satiMactory, but not without a large amount of pudiing and careful watching. The import trade continues to be overdone, and that during the past year the productions of the present, woollen mills in New Zealand have been more than equal to the demand. The profit and loss account, after due allowance for depreciation on plant and building shows a surplus for the year, including balance brought forward fiom la-t year, of £19,222, to bo apportioned as follows :—Dividend at 1 0 per '.en!., absorbing about £0500 (interim dividend to March 31 at same rate having already been paid) : £5000 to formation of ro-crve fund : Earing about £4700 to be carried forward !o the new account. The report was adopted, and the retiring directors, Div. Allan and Blackwell, were re-elected. Mr Isaac AVilson was re-elected chairman of directors.