PROPOSED WOOLEN MILL FOR TIMARU.

South Canterbury Times, Issue 2614, 6 August 1881, Page 2

PROPOSED WOOLEN MILL FOR TIMARU.

A preliminary meeting was held at the Borough Council Chamber last evening for the purpose of taking into consideration the, advisability of establishing a Woollen Manufactory in or near Timaru. About twenty citizens were present, Mr B. Woollcombe being voted to the chair. '

The Chairman after addressing a few words to the meeting explaining that Mr C. Bowker had initiated the move ment, called upon that gentleman to explain his views on the establishment of the proposed local industry which the speaker saw no reason to fear would result in anything but a success. Mr C. Bowker said that as perhaps they might wish to know why lie was interesting himself in this matter, he had better offer some explanation. There were at present in the district a largo number of unemployed, and no fitter time than this when money was plentiful (being locked up for safe investment) and labor abundant, could be chosen for the prosecution of a scheme of the kind contemplated. He also thought that the, people of'Tiiraru should be more self reliant and refrain from sending away money to Christchurch and Dunedin for goods that might advantageously be produced on tiie spot, and the production of which would confer a double benefit by employing idle hands. Ho had obtained some information relative to the working of other 'mills, and he found they were doing well and paying good dividends. The Mosgiel Woollen Factory, which started in a very small way, was now in the most flourishing condition and was paying an annual dividend of 11 per cent. The Kaiapoi mills again, which had been established more recently, were now paying well, although the first company had lost some £6,000 or £7,000. _ The concern was now on a sounder basis and the last interim dividend paid was 4 per cent. With regard to the proposed mill here, his idea was to get the masses to join them, to give every man a chance of participating in the benefits arising. He would propose that the capital be £IOO,OOO. but £25,000 should put the scheme on a very good footing, and this sum he proposed should be be called up, as being quite sufficient to meet present requirements. But the whole of this money should be subscribed amongst themselves, and then if they could offer anything tangible, capitalists would not be wanting to back them up. He was not there to dictate to them what kind of local industry should be started, but that something of the kind should be done was necessary if they wished to prevent the people from leaving the district. A thoroughly practical man assured him that some of the tweeds manufactured in the colony were vastly superior to imported goods, and if they only worked with a will, there was no reason why their efforts should not meet with complete success. And if this industry was successfully floated others, such as soap and candle making might follow, for they were as well able to produce these things as other communities. But the company it was now proposed to start must be a limited liability company. He was not going to have any Glasgow Bank business in connection with it. (Laughter.) He. would suggest that the shares be £1 each. Mr Burns had said there was no earthly reason why the mill should not be started close to Timaru as the water from the Pareora would answer all requirements very well. He thought a committee should bo formed to work up preliminaries, and a public meeting be called at a future date to consider their report.

Mr Dobson (waterworks engineer) then briefly addressed the meeting at Mr Bowker’s request, and submitted a few calculations made by himself in connection with the scheme under dis cussion. He estimated that £IOOO would be required to start each loom, or a sum of £25,000 for 20 looms. He thought that if properly managed the scheme should answer very well.

Mr R. A. Chisholm referred to a similar project being on foot atOaraaru, but of this he thought they need not be afraid. The Oaraaru people had in fact taken up the idea after they heard that Timaru was moving in the matter. Timaru was far better situated, than Oamaru for the prosecution of such a scheme. But he would sooner make the capital £50,000. No doubt they could get outside capitalists to join them, but he thought that the whole of the shares should be taken up in South Canterbury. £5 shares would, hs thought, be better than £1 shares, however. Mr A. St, Gr. Hamersley read a letter he had received from Mr Allen, one of the directors of the Kaiapoi Company. From this letter it appeared that although the first Kaiapoi Company had

failed the present one, which started wiih £60,000 capital which would all be paid up in nine months time* was paying a dividend of 8 per cent per annum. A local industry was much wanted in Timaru just now, and it was every man’s duty as it should be his pleasure, to push forward such a scheme to the best of his ability. Mr Gibson then proposed tha following resolution —“ That a Committee be appointed to collect the best information possible as to the desirability and practibility of starting a Woollen manufactory -or other industry in Timaru or district and report on the same in a month’s time. Said Committee to consist of Messrs Bowker, Chisholm, Boss, Cuthbert, Woo’lcombe, Suiter, Hart, Dobson, Moody, Greenup, Davidson, iSmith, Plante, Grierson, Shepherd, White and the mover, with power to add to their number. At the wish of the meeting Mr Gib son eonsented to strike out the words “or other industry” and the motion seconded by Mr Chisholm, was carried unanimously. Mr Gibson in addressing the meeting, remarked that they must •make''a move pf some kind for they were losing their working classes, and this they could not afford to do. The present was a most favorable lime for takimg a step of the kind contemplated, but they must not expect to make immediate profits, they might not do so for two years perhaps, but if they lost a little money directly even they wonld certainly be gainers indirectly eventually. Mr McKean, a wool sorter, intro duced to the meeting as a practical man of large experience then spoke. He considered that MrDobson’s estimate of £25,000 to work 20 looms a very high one. If it took £25,000 to work 20 looms they might work 50 fer very little more. He would not himself he in favor of starting in a very small way. Mr McKean having entered into some further details, Mr Greenup made a few remarks strongly advocating the establishment of a local industry in our midst if only as an outlet for the labor of the rising generation. Mr Gibson then proposed—“ That Captain Sutter be Chairman of Committee, and Mr Bowker Secretary ; the Chairman to be convener.”

Mr Bowker said that ho was so much engaged that he would be glad it they would elect somebody else as secretary and offered the use of his office to the person appointed. No one coming forward, Mr Bowker allowed himself to Be nominated, and the resolution being seconded by Mr Shepherd was carried. Votes of thanks were tendered to the Chairman for presiding, to Captain Sutter for the use of the Council Chamber, and to Mr Bowker for initiating the movement, and the proceedings terminated.