RE-STARTING AN INDUSTRY.

Patea Mail, Volume VIII, Issue 1049, 20 June 1883, Page 2

RE-STARTING AN INDUSTRY.

It is with pleasure that we notice steps are being taken to re-start the Patea Steam Saw and Moulding Mills, formerly ini the hands of Mr Dale. It has been a matter of regret that such a valuable property should lie. idle, and the useful industry languish for want ; of enterprise. We have persistently advocated the advantages -of local manufactures and industries, and we venture to think that the present movement, if carried out successfully, will give zest to the building trade both in town and country, and beneficially aid

in restoring the wonted cheerfulness of our townspeople and the business activity of the town. Mr W. Cowern is the promoter, and has advanced a scheme which, we understand, has been very favourably received by those best able to judge. Briefly it is as follows : —The value of the land, building and machinery, including engine, is £2OOO, which is offered at £1250. Mr Cowern proposes to form a company with a capital of £2OOO, in 400 shares of £5 each, and to call up only £2 at present, probably no more, to start the mill going, and, when times improve a little, either sell out the mill as n going

concern, by which he calculates the company to make £750 clear profit, or lease it, and secure thereby a substantial safe yearly dividend. As will be seen by our advertising columns a meeting is called for next Saturday on the mill premises at 3 in the afternoon, and we hope to see a lively interest taken autl the matter well ventilated. A number of gentlemen, it would appear, have promised to take an interest, and, judging from the names set forth, it should bo a guarantee that the scheme has some more than usual merits to recommend it.