WANGANUI WOOLLEN MILLS

New Zealand Times, Volume XLVI, Issue 10617, 16 June 1920, Page 8

WANGANUI WOOLLEN MILLS

A NEW INDUSTRIAL VENTURE.

In* another column is published the abridged Prospectus of the Wanganui Woollen Mills Ltd., a company that is being formed n ith a capital of X 200,000. The primary purpose of. the Company is to establish a Woollen Mill in or near Wanganui. _ The Prospectus points oat that Wanganui is considered to offer an a'dmir; able -situation for. the establishment or a Woollen Mill. It is the outlet for a large wool-growing district, from which annually at present large quantities of wool are exported. 'lt is conveniently situated with regard to the railway system for the collection of raw matoraai and the distribution of its products, and with the development of the harbour arid shipping, it ffla- <be expected to be a similarly convenient port with regard to coastal and overseas imports and exports. Its population is how approaching towards 22,000, and at promises to be a centre of a large and ever-growing population. It affords admirable prospects for industries of all kinds requiring the employment of labour. In view of the general unse-ttlement in industrial life all over the world, caused by the war. and the rise in industrial wages to be expected in those countries from which New Zealand has hitherto drawn her woollen manufactures." , and the contemporaneous increase in freights it may be expected, that New Zealand will find it ueeeesary no longer to rely on getting- sutlii msnufa-cE-uies , from abroad, produced under the hitherto existing conditions of low wages, but to set to work herself and manufacture her own wool for her own use or export, thus saving double freight and pioviding employment for her population. In New Zealand, industries nave hitherto been handicapped by the competition of the low wages paid in other countries. It appears beyond question tbat the war and the unsettlement it h-v (mused have removed the handicap uridei which our industries have, so suffered, and -this affords thorn an opportunity foi development with alluring prospects oi prosperity. This applicr, in especial measure to the woollen industry, and it is,for these reasons that the project pi the establishment of a Woollen Mill is now launched.

New Zealand is by no means over-run with such .mills, indeed, the existing mills are quite unable to cope with the demand for woollen goods. , There is. therefore, it is thought, an ample opening lor the establishment of such a mill in Wanganui.. The three existing woollen manufacturing companies in the .Do minion are in a flourishing condition The opportunity of taking, a share in the founding of a new industry such aa that proposed will, no doubt, appeal to a largo number of people who wish to put their savings to work. The venture is certainly an interesting and promising field for investment, and deserves the careful attention of ■ our readers. Copies of the Prospectus, together with application forms, man- be obtained from the local Brokers, ACeesre Irwin and Georgo, 3”. Panama street, Wellington, or from the Interim Secretary, Air B. AI. Silk, F.1.A.N.Z., Wanganui.