The Wellington Manufacturing Company Limited.

Manawatu Standard, Volume IX, Issue 40, 17 January 1885, Page 4

The Wellington Manufacturing Company Limited.

; The, Company's-. Secretavy Jias issued the following circular ; — As cl e, next General Meeting of _ the Company does not take place until tjhe month of June, 1 amtinstruc^ ted By the ■Direeiors to lay before the Shareholders the following epi--1 tbme of/!tliQi[ir'es ! prit/ pbfeitiori, /and future prospects of the Com- ! The Directors did not deem it 'advisable unCrl L^tr' least 15,000 s")i ar e§ had been, app \\^l for t(? . . esv peud m6ney "or either' building 'or plant. r2J«i;d»'faM " . : !A>t;thjeiendiOf-Se;p,tem^erJast ]5,7 000 shares wgrs applied for.- ; •«The'ae! sjhates Jare held by over ifiveliundre'd individuals: - There; > are;: ''however/' U p6h the bodies ibm 6 'twenty : names, Representing about IJ2OO shares, i; from whom, on account of various ; cavV^esV' some 1 Ib.ss^ih I '- the Receipt of . dalls Way ai'i^e. ' __;'/ ; „. ::: ; ' ' I TIW moniiiy received on [ ' sccount , o!f calls already made.' has been; ide-' posited, 14'n til yequiraa ; ..for building. • puV'pqscSv.at, jn.fe^est with certain, fl-,' naricial institutions m the city.; . , , ; ' A site has been selected at l^etone and purchased at a price whic|i; malces it a good investment for tile outlay. . This site has .been reports ed upon by experts, and pronounced to be one ofthe^ most suitable' m the whole Colony for a Woollen 1 Factpi-y : The ; waters <if- the streaVn have been analysed by X)r. ; Hector,' who states .that they 1 afe ; peculiarly adapted for the , -purposed •':[ required. Tlie advaiitages of. road,' rail a'net. s<»a pafria'ge'at the ' Factory close proximity of population, .and ' the impossibility or mterrcruig ;,wi.t,l\, or enjuring other, properties during the; prpcpss of.manufA.ctuTe, are certainly. ;of tlie. greatest importance.. ■ ••M.-. h.-. •'•':!■» !.• :;;>;•»;: i- : The preparation of the plans and 'specifications^ of the m ill $i engine, boilers, &c.,has' been .put. -in- the (hands of Mr. Moses Scott, of Christ-. church, a gentleman of considerable Wpefience m this paticularxrlass'if ytoWl ' These plans : ha'ye"36's,t been ' a'eceiyedj,' and tenders will be called' ;fyr "the' eyeciipn of the r'actpVy at' an ; early, <\M^ . „^ ] i .',l t .'.,' i . A^'i V'";.'.«---1 ' The mill will b'e'bne""story..)higii*j bnilt of brick with iron roof, and wili within itself the whole of ! the tnactjineryj-required m manjifacjturrngiVoni thfeiraw niate^ial-to! ; tlhe finished article. It is designed to ; hfl|lo sixby jl^oms, but will start with. I thirty. The scrabbling and spinning j machinery can, by working day and ' night, be made to supply the whole sixty looms.'-; . ; /. .- J I i »'( The machiuery and the electric | lightv ' wit hi which the 1 factotf 'will <be" lit, will be driven, by an engine capable of working up ~to '120 horse power.^ .;,. /' ; a r\ <r*. f s y^ A"in k «'iTJ?iger* < has been^' appointed (who holds Sfefy' nigh' ; testimonials from some of r jthe leading, woolle^ manuflicuu-es m wlipm- specifications ,for !t|ie v snj^ r ning and .w.qayjng. machinery been prepared. , I'liese, , haye . been senttjo- 'England,! where they : h«ave been distributed among the.; various, makers of this class of machinery by Mr. Wilson, late of; this" city ,m. who will'receive thetenders aridi forward them to •\V ellington for the eohsider'i i atibn I 'of the directors.' <' : II i It is the object of the ' Directors i to make the completion of. the mill ! and : this arrivkl "of 1 the^^Wachi.n'eijy , 1 sinjultaneous, the greates^expiditiQVi ) j wjll b^'u^ed conslsteiU wjth ■ obtain- i \ irig tnoroughlv . sati|faqtory | Results , ; I and m all" likelitiopd the milt wifli be. at; '^QTk ifl ut tw^ e ; , mqnths. i 1 ,i .JTlife JDirectors are giving .careful! : attention to the finances of the. Con}-! J pany. m Their present intention is ,tp ' ! call up only one-half: of the capital. ; I This they anticipate will be amply ! sufficient to put the Factory into' ' full working* orider. 1 The capital re- 1 : : quired beyond this for carrying '■ oh : ] tlie business it is proposed to '■ raise; : upon debentures. ; There should 1 be ■ no practical difficulty; m, doing 'this; i Tata low/rnte; of interest^' as' th'ei . security will be am pie, ' tlie j*|iolp of the (Company's property being "c(n-l encumbered and mi.eJialf jfclie capital ; , uncalled.; j . . . ...,.' „.>,■ j The .Shareholders may, rest as-; .Bured that Directors will spnre no effort to make this Company., a success, both as a local industry and A'sound commercial enterprise' for the invesjEynent of capital; :. t ! . 1 ;