THE GLOBE. THURSDAY, JANUARY 20, 1881. THE KAIAPOI WOOLLEN MANUFACTURING COMPANY.

Globe, Volume XXIII, Issue 2154, 20 January 1881, Page 2

THE GLOBE. THURSDAY, JANUARY 20, 1881. THE KAIAPOI WOOLLEN MANUFACTURING COMPANY.

The annual report of tho above company, given in to-day'a columns, is of a very satisfactory nature both to the general public and the shareholders. To the former, because it shows well for local industries when one which was started not so long ago has been enabled to assume the proportions of the Kaiapoi Company; to the latter because there is evidently every prospect of the affair being a commercial success in its enlarged form. The company intend to add to its factory by enlarging the premises, erecting a warehouse and dyehouse, and obtaining engines, pumps, &c. The Chairman, when referring to the proposed extension at the mill, pointed out that they had all the heads of department there ready, so that, as far as labour was concerned, the extra work would be obtained at a minimum cost. And, indeed, it is evident that, as regards supervision, a large number of looms might bo worked at pretty nearly the same figure as a small number. The shareholders generally have evidently been struck with the fact that there is ample scope for extended operations, and have urged on the directors the course they propose to pursue. But, besides enlarging operations at the mill, the company have determined to start a clothing factory in Christchurch. They have acquired a freehold in a favourable locality, and have decided, among their other operations, to make up their own tweeds. The Chairman stated that in Australia he has found that out of twentyone mills visited fully four-fifths of the manufacture was made into clothing, after being sold to wholesale houses, and much of that found its way to New Zealand, where, notwithstanding the import duty of 16J per cent., it found a ready sale, although some of it was of the shoddy order. Now, there is no reason why the company should not pocket the profits made by the wholesale tailoring establishments, and, even if labour may be slightly cheaper in Melbourne than here, there is the margin of the 16£ per cent, duty to work on, and also the fact that the company are determined to keep up their name as sellers of the genuine article alone. The company, too, propose aiming at a superior tailoring business, thus giving an opening for two classes of work being carried on at the same time. The plan suggested certainly appears a good one, and tho profits should be quite equal to those anticipated. That, a market for the goods exists is beyond a doubt, the sole question is the price of production. The company will have to fight against well organised factories in Australia, but the larger its operations the smaller will be the absolute cost of each article. Of one thing we feel confident, viz., that the outside public will back up the movement to the utmost of their ability. The Kaiapoi Company have already earned a high name for the conscientious manner in which its goods are turned out, and if the same thoroughness is imported into the clothing business the Company will have no cause to regret it. The rapid increase in tho business done by the Company is the healthiest of all signs. With new facilities for turning out good work it may fairly be anticipated that a still brighter day is in store for this important local industry. MORE CANARDS.

Whkn Greyite journals are " agonizing " for an attack on the Ministry they are not likely to stick at trifles. Consequently the " Lyttelton Times" cannot be expected to be over nice in the line it takes up when it wishes to have a fling at the Hall Government. An article published in that journal yesterday proved this to demonstration. This effusion connects a further fall in New Zealand securities with a telegram published in London, and dated London, November 6th. The wording|of the telegram was," The revenue of New Zealand for the quarter ending Soptember 30th amounted to £747,768. The expenditure during the same period, including the sum set apart for public works, was £970,901." Says our contemporary, 'respecting this telegram, " The telegram, it will be observed, is dated from Wellington, and we shall not, we think, be far wrong in assuming that it had its birth not far from the Government Buildings. Indeed, we have good reason to think that these telegrams may be considered semi-official." Now, here it is cooly insinuated that the present Ministry, in order to injure the late one, either directly or indirectly forward telegrams to London purposely constructed so as to injure the crodit of the colony. Such an idea connected with the caße in hand is simply idiotic. Even supposing the telegram to havo a semi-Ministerial origin, why should the present Ministry,

who have now been in office a full year, foul thoir own nest in this extraordinary manner, when the onus of the failure would certainly fall on their own shoulders. But, in point of fact, the " Lyttelton Times" has not the slightest ground for saying that the telegram in question is Ministerial or semi-Ministerial. The assertion is a pure fabrication on the part of our contemporary. In may rank with a number of other statements given " on the best authority," or introduced with the heading, » wo have ample reason for stating." The " ample reason" is that the Hall Ministry is to be traduced at all cost; the "best authority" is to bo found in the fertile but utterly unscrupulous brain of a Wellington special correspondent. But this manamvro is all of a piece with the late sayings and doings of Greyite journals. They say that Major Atkinson painted the situation in over gloomy colours to destroy the reputation of the previous Ministry, and yet they have never oven attempted to deny the fact that Die Colonial Treasurer's first estimate of things was not too desponding, but absolutely too sanguine. They have held the immoral doctrine that the Treasurer's duty was to deliberately deceive the English money market. That may bo policy among a certain class of politicians, but, wo are thankful to say, it does not pass for such in the present Ministry. The Grey Ministry might have tried it, in the same way as they held back during the last few months of office the railway returns, because the profits happened to be diminishing. But " we have changed all this " to the manifest benefit of all concerned, and act squarely and above board. Besides, in the face of enormous reductions to be made in our civil service and public works expenditure, what a figure would any Treasurer have cut when declaring that all things were rose-colored, That New Zealand credit has its nps and downs is not to be wondered at, and that interested persons manage to operate on 'Change to their own manifest benefit is more than likely. Sir Julius Vogel has not of late troubled himself to set New Zealand affairs before the public in their true light. A better state of affairs may be looked for under the regime of Sir Dillon Bell. Our revenue is rapidly assuming a more healthy condition, and the British capitalist, being no fool, will soon manage to penetrate into the real facts of the case. The true barrier against the credit of New Zealand is the off-chance of the Grey Ministry ever getting into power again. That, "we are informed on the best authority," is keeping our stocks down. In conclusion, we may point to the fact that the telegram over which the " Lyttelton Times " has "agonised" is a perfectly clear one to all who know anything about New Zealand affairs. To an absolute outsider it has a somewhat gloomy look, but to people who can distinguish between current and permanent expenditure it bears not the least indication that we are not paying our way. To suit its own purposes the Gloucester street organ concocted a pure fabrication, supplemented by a supposition that all men, particularly capitalists, are fools. THE PEDOMETER. In another column of this day's issue our readers will find a very interesting description of this unique instrument, now in general uso by professional and amateur pedestrians in England and other ports of Europe. The Proprietor of this journal (Mr Pritohard) will have much pleasure in presenting to the Athletic Association of Ohristohurch a pedometer from the atelier of one of the best makers in London, for competition, and as a special prize at the next sports' gathering of that body. Meanwhile the instrument may be seen by the curious at Mr Sandstein's, in Oashel street.