WANGANUI WOOLEN MILLS, LTD.

Taranaki Daily News, 22 June 1920, Page 6

WANGANUI WOOLEN MILLS, LTD.

A NEW INDUSTRIAL VENTURE. In another column is published the abridged prospectus of the Wangamii Woollen Mills, Ltd., a company that is being formed with a capital of £200,000, The .primary purpose of the Company is to establish 1 a. woollen mill m 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 wool-growing district, from which annually at present largo 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 hasbor 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 towards 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 labor. In view of the general unsettlement in industrial life all over the world, caused by the war, and the rises in industrial wages to be expected in those countries from which New Zealand lias hitherto drawn her woollen manufactures, and the contemporaneous increase in freights, it may be expected that ]\ew Zealand will find it necessary no longer to rely on getting such manufactures from abroad, produced under the hitherto existing conditions of low wages, but 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 Jiave hitherto been handicapped by the competition of 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 aplies in especial measure to the woollen industry, and it is for these reasons that the project of, the establishment of a woollen mill is ndw launched.

New Zealand is by no means overrun with such mills; indeed," the existing 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 in Wanganui. The three existing woollen manufacturing companies in the Dominion are in a flourishing condition,

The opportunity of taking a share in the founding of a new industry such as that proposed will, no doubt, appeal to a large number of. people who wish to put tHeir savings to work. The venture is certainly an inte!rc»-,ting and promising field for investment, and deserves the careful attention of our readers, f Copies of th'e prospectus, together with application forms, may be obtained from the local agent, Mr. j. S. S. Medley, Egmont Street, New Plymouth, or ffoni the Interim Secretary, Mr. E. M. Silk, F.1.A.N.N., Wanganui.