The Taihape Daily Times. AND WAIMARINO ADVOCATE THURSDAY, AUGUST 15, 1918 WOOL AND MEAT.

Taihape Daily Times, 15 August 1918, Page 4

The Taihape Daily Times. AND WAIMARINO ADVOCATE

THURSDAY, AUGUST 15, 1918 WOOL AND MEAT.

(With which is Incorporated The Taihape Post and WalnmrTao News).

Two New Zealand institutions which are founded on this country's largest and most important products have held their respective annual general meetings of shareholders this week; they are the Wellington Meat Expor/ . Company, and the Wellington Woollen Manufacturing Company. The reports submitted, as well as the .Chairman's address, strongly reflect the influence war is having on our two great industries, The Woollen Company's Chairman instanced the great demand for wool and woollen goods for civilian needs caused by the requisitioning for military purposes. He ing requests to supply its products to America., Africa, Australia, China, Canada, and India, but military contracts and local orders have taxeu'the Company's capacity to an extreme. Mr. Barber considers this demand from exlerraneous sources indicates the universal shortage of woollen goods, and may be accepted as evidence that owing to depleted warehouses everywhere there will be an enormous demand from all quarters when war ceases. There is not a shadow of doubt about an after war demand springing up for every description of raw material, and during the few months factories in belligerent countries are being got' into producing order there will be a great demand for manufactured woollen goods but such demand will be of a fugitive and uneven character. We are inclin-. ed to view the demand from several of the countries mentioned as emanating from men who are bent on profiteering, making speculative purchases, much as speculative purchases or dried milk are being made and stored at the present moment. There will be an undoubtedly good market for all our products after the war, but there is not tho slightest occasion for any undue optimism. Alongside the statement about wool demand may be juxtaposed the demand exhibited in the reports of meetings of those controlling manufactures in some enemy and neutral countries. It is in Germany, Austria, France and Italy where the direst need for raw materials will be felt, particularly in Germany anu Austria, as they will be, partially, at least, cut off from the sources of the world's raw materials. But the princes of industry in those countries have already in operation huge, comprehensive schemes for collecting and saving everything of use in the textile trades; the veriest old rags, worn-out .military blankets, rugs, towels, ana. every article in soldier's uniform is being preserved and hoarded in readl- ! ness for the day when munition-mak-ing will not monopolise the place of the loom and spinning wheel. In Germany, for instance, one can easily imagine what colossal stores of old uniforms and other textile waste will be awaiting that day. It must also be fully realised that tho great masses of people in that country as well as m the countries of Germany's allies, -will not be able for a long time to afford anything but the very cheapest In clothing and furnishing; they simply must be content with the veriest shoddy manufactures in woollen goods. Probably, the Chairman of the Wellington Woollen Company is quite cognisant of what is happening in other countries and his Company will shape its future, operations accordingly. A record business resulted in the past year and the profits synchronised therewith, but as military contracts absorbed the greater part of what was produced it should be noted that the record was due entirely to war conand was of only questionable value in estimating after-war requirements other than those of the most temporary nature. Despite animad-

versions by shareholders of the Wellington Meat Expdrt Company, on the conduct of the past year's business, the Directors are entitled to congratulation and commendation for the careful, canny course they have pursued. Why some shareholders should insistently see breakers ahead we are puzzled to know, but we guess the chief complainant tacitly applauded what his Directors had accomplished. It was undeniable that a clear saving of over seven thousand pounds had been made in one item alone. The Wellington Meat Export Company shareholders were not given their profits on paper, but those. profits are safe, sure and secure in the Company's cold store. It would be a matter for marvel if this was not so, as present meat conditions make it nearly impossible to avoid large. profits being made.