The Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. THURSDAY, JANUARY 21, 1886. WELLINGTON WOOLLEN MANUFACTURING COMPANY

Manawatu Standard, Volume XI, Issue 1614, 21 January 1886, Page 2

Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on the West Coast. THURSDAY, JANUARY 21, 1886. WELLINGTON WOOLLEN MANUFACTURING COMPANY

We learn from the Even?ng t Prcss that at the meeting of the Woollen Manufacturing Company held m Wellington on Monday night,. Mr J. DitANSFiELD gave a few interesting facts regarding the Mosgiei Woollen Company. Contrasting its commencement with that of the Wellington Company, he said, m 1873 the Mosgiei Company bought the land, buildings and machinery of the Woollen Manufactory carried oh by, Messrs A. and G.'Bdrns, of 'Otago! The woollen ; machinery comprised two full sets, with all the necessary adjuncts, an engine of 32 h.p. high pressure, and the necessary boilers. The wages paid were from ,£IBO to £200 per month, working eleven hours per day; The ; consumption of coal was 360 tons per month. The Company . gave 30 per cent advance upon the cost price of the machinery and a bonus of .£2500. The total cost of the plant was £ 1 7,000, including land and' buildings, taken at a valuation. The Wellington Woollen Manufacturing Company's machinery comprised four full sets, with all the necessary adjuncts, a compound condensing engine of 65 horse power, and three boilers sufficient to give steam for all the ather manufacturing purposes m addition to the engine. The estimated amount of wages per month was £4sW. < They had the most improved machinery, and their consumption of coal is estimated, to be about 76 tons per month. Thusi for double the quantity of machinery they should pay, in-' eluding buildings, &c ,<£22,500, and L 2,500 for expenses, total L 25000. From the same source we learn that Mr T.-K. Macdonald made several pertinent remarks during the discussion at the meeting. In closing the meeting he made a particularly taking little speech. He hoped the Wellington people would make up their minfls to get rid' of that;reproach so often made, that Wellington could not establish a successful industry, because the people had no faith m themselves. The curse of this city had been the absolute distrust which the people felt of each other and of the place they lived m, forgetting that they lived m one of :the greatest centres m New Zealand — one that must become the leading city of a most important colony. It the people had more faith m themselves — m their enterprises — m their public men — it would be.yery much better for the city. And he did hope that the shareholders m this Company, now that they had put their shoulders to the wheel, would do all they could to make it a great success. He hoped they would induce their friends to buy the Company's manufactures, and make the | Pctone manufactory the test m thd colony. Mr Mac hon Alii) also -pointtd out that the Company had dt°6o,ooo of unpledged assets^: From a Manawatu point 6f view the success of the Woollen Manufacturing Company is a consummation much to be desired. It means a market at our doors, so to speak, for our wool products, saving the risk and experse of transit, and avoiding the fluctuations of the Home markets. We look upon it that Manawatu is almost as directly interested m the successful establishment of the woollen industry m Wellington as the Empire' City herself. We strongly deprecate the proposal made by certain persons at that meeting, to wind up the concern. We sincerely trust its career will be of one uninterrupted prosperity; and we are convinced that the day operations are commenced may be looked upon as an auspicious omen of future prosperity for these districts.