Wellington Woollen Company.
<PBB PBBBB A88OCIATION). ■Wellington, December 18. It is stated that the report of the in. vestigation committee of the Wellington Woollen Company states that theDirec* tors have not risen to the occasion in re* gard to the management of the mill daring the year and suggests that one or two men of large commercial experience should be placed on the Board. The committee deplored the unhappy differ* ence which has arisen between the mill manager and the Company's traveller. The Company had suffered considerably by the change of its policy in discontinumg the practice of confining its dealings to wholesale firms and in opening up accounts with retailers. Unless additional capital could be found or raised, it would be desirable to confine the operations to whrlesale houses. There was no occasion for a panic, the Company being in a perfectly sound position, none of its capital had been lost, and machinery and plant had been written down to a fair market value.
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Bibliographic details
Feilding Star, Volume XVI, Issue 144, 14 December 1894, Page 2
Word Count
165Wellington Woollen Company. Feilding Star, Volume XVI, Issue 144, 14 December 1894, Page 2
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