WELLINGTON WOOLLEN CO.
ANNUAL MEETING. By Telegraph.—Press As«o»!utiun. Wellington, Wednesday. At the annual meeting of the Wellington Woollen Company to-day the chairman of directors (Mr. W. H. P. Barber) said that duting the year the company had reduced its indebtedness by £22,000, although the amount called cai shares—including payments in advance—had only increased by £'">>o. The stock showed a reduction in gross value of £I2OO. Sales lor the year established a record for the company. On the debit side the profit and loss account showed, excluding £3OOO depreciation, a reduction of £1743. Last year £2OOO was written off finished stock, and the directors deemed it prudent to write off £2500 this rear. The making of calls had', been discontinued, and the directors did not at present contemplate resuming the practice. The further allotment of prefer 3 nte shares had also been stopped, with the result that they were now quoted at about par. The company employed] about 600 workers, and paid out over *£41,000 annually in wages. It was proposed to extend the mill and increase the output.
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Taranaki Daily News, Volume LIII, Issue 128, 8 September 1910, Page 2
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178WELLINGTON WOOLLEN CO. Taranaki Daily News, Volume LIII, Issue 128, 8 September 1910, Page 2
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