GENERAL TELEGRAMS.

Taranaki Daily News, Volume LIII, Issue 193, 24 November 1910, Page 2

GENERAL TELEGRAMS.

MOSGIEL WOOLLEN CO. By Telegraph. —Press Association. Duuedin, Yesterday. The thirty-seventh annual meeting of the Mosgiel Woollen 'Factory Company was held this afternoon. Mr. John Roberts, C.M.G., presided. The profit and loss account showed a balance of t(i;]ol 12s 9d. After writing oil' £3OOO for depreciation, and setting aside £ISOO to meet the cost of new machinery now on oyder, the directors recommended the payment of a dividend of 6 per cent. In moving the adoption of the report the chairmaa said the company had experienced an excellent trading year, the margin of profit being good. The wooilen manufacturing companies of the Dominion during the past year Md shown a determination to sell only at remunerative priees. The balance-sheet showed a reduction of £SOOO in loans p.iysible, and indebtedness to the bank a reduction of almost £4OOO. No provision for] bad debts had had to be made s ; ncej 1901. The board recommended that £ISOO be set aside for special provision, for new machinery now on order. The motion was carried, and the rctii M n* directors, the Hon. J. R. Sinclair and Mr. J. S. Hislop, were re-elected. TRAMWAY CONFERENCE. Wellington, Wednesday. Conferences of representaives of all local and other bodies interested in street tramways in New Zealand will be held at the Wellington Town-Hall on December 8 to consider the demands recently made by tramway employees for a Dominion award. The conference is called by the Mayor of Wellington and the City Council. Invitations have been sent to Auckland, Napier, ■ Wanganui, Christchurch, iDunedin and Invercargill. ROSS GOLDFIELDS COMPANY. Wellington, Wednesday. Mr. Vickery, liquidator of Ross Goldfields, Ltd., has drawn up a scheme for reconstruction, which will be submitted to the meeting at Wellington on December 7. Mining experts report £13,104 will be required to put the mine in order and develop it. The liquidator suggests that a new company be formed with £BO,OOO capital in £1 shares, 70,000 to be issued, present shareholders to receive shares paid up to 12s Gd. This will provide working capital for the new company after paying the existing liabilities of £21,000. The liquidator did not accept Mr. Trent's offer to find £SOOO to finance the company during liquidation, as conditions were attached to which he could not agree.