WANGANUI INDUSTRY

Southland Times, Issue 18853, 19 June 1920, Page 6

WANGANUI INDUSTRY

WOOLLEN MILLS, LIMITED. A NEW VENTURE In another column is published th* abridged prospectus of the Wanganui Woollen Mills, Ltd., a company that is being formed with a capital of £200,000. The primary purpose of the company is to establish a woollen mill in or near Wanganui.

The prospectus points out that Wanganui is considered to offer an admirable situation for the establishment of a woollen mill. It, is the outlet for a large woolgrowing district, from which annually at present large quantities of wool are exported. It is conveniently situated with regard to the railway system for the collection of raw material and the distribution of its products, and with the development of the harbour and shipping, it may be expected to be a similarly convenient port with regard to coastal and overseas imports and exports. Its population is now approaching 22,000, and it 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 unseUiemcnt in industrial life all over the world, caused by the war, the rise in industrial wages to be expected in those countries frgm which New Zealand lias hitherto drawn her woollen manufactures, and the contemporaneous increase in freights, it may be expected that' New Zealand will find it necessary no longer to rely on getting such manufactures from, abroad, produced under the hitherto existing conditions of low wages, hut to set to work herself and manufacture her own wool for her own use or export, thus saving double freight and providing employment for her population. In New Zealand, industries have hitherto been handicapped in coin petition by the low wages paid in other countries. It appears beyond question that the war and the unsettlement it has caused have removed the handicap under which our industries have so suffered, and this affords them an opportunity for development with alluring prospects of prosperity. This applies in especial measure to the woollen industry, and it is for these reasons that the project of the establishment of a woollen mill is now launched.

New Zealand is by no means over run with such mills. Indeed, the exis.ting mills are quite unable to cope with the demand for woollen goods. There is, therefore, it is thought, an ample opening for the establishment of such a mill m Wanganui. The three existing woollen manufacturing coni-panie-s in the dominion are in a flourishing

condition. . The opportunity of talcing a share in the founding of a new industry such as that proposed will, no doubt, appeal to a largo number of people who wish to put the'r savings to work. The venture is certainly an interesting and promising field for investment, and deserves the careful attenrru of our readers. Copies of the prospectus, together with application fonns, may Ire obtained from the broker, Mr Harman Reeves, 10- High street, Duncdnp or from the interim secretary, Mr It. M. .-ilk, F.I.A.N Z , Wanganui.