WOOLLEN FACTORY FOR GERALDINE.

Temuka Leader, Issue 1052, 9 January 1883, Page 2

WOOLLEN FACTORY FOR GERALDINE.

A meetitjjar was held last Friday cvsnn<* in the Road Board Office, Geraldme, for the purpose of considering the desirability of forming a company to start a •Woollen Fnctory at Geraldino. There were about 50 people present, and the project appeared to be looked upon with much favor.

On the motion of Mr R. S. Cook, seconded by Mr Cultman, Dr Fish was voted to the chair.

ThejChairman said he was always happy to do anything that would advance the district. He was sorry they had not selected some o'her Chairman, as he felt that some business man would fill the position better than himself. He did not know anything about wool, but all honor to those who had call«d the meeting. The fact that there were so many present showed that great interest was felt in the matter, nnd whether the project was carried to a successful issue or not the brirgmg of so many together to talk OTer the thing could aot fail to do good. For some time past Ceraldine appeared to be in a state of torpor. Thoy used lo be a lively community once, but lately they appeared to have fallen asleep. He was glad to s°e the present meeting called, as it deno+ed that they were awakening to a sense of their interests. They were all epnally interested. He quite agreed with Mr Bowron when he said that the towns would benefit by the establishment of indu.stiiewjust as much as.the couutry, and he hoped they would gQ hand in hand to-

gether in establishing them. He hoped now that those who had called the meeting would give some information regarding the industry. (Applause.) Mr R. P. Cook said that he and Mr Dnnlop had been requested to call,the \, meeting together, and they hud He had no information on the stiVßct further than a copy of the prospectus of the Ashburton Woollen Factory Company, which he would lay- before the meeting.

The Chairman read some extracts from the prospectus, from which it appeared that the capital was £SOOO. Mr Dunlop said that all he knew about it was that he and Mr Cook had called the meeting at the request of a_.gp.od many people. Some of them were, present, and would no doubt speak on the subject. He could not say much himself, only that they wanted something to stir them up. Instead of increasing;, their town was decreasing ; cbere Ws : Vany number of empty houses in the 'plape, and it "was necessary that some stepi should be taken in starting industries. This meeting had been called to lest tht feeling of the people on the subject. He had seen Mr Postlethwaite that! evaning, and found that it was quite impossible for that gentleman to attend, but he had promised him (Mr Dunlop) that he. would favor any conclusion the meeting came to. (tienr, hear.) Mr Postlethwaite appeared to think that there were too many things taken up at the same lime. These were : a Butter *and Cheese Factory and a Linsenl Factory, starting in Temuka, and the question was whether it was advisable to go in for any more at present. These were things they wanted to get to the bottom, of and he hoped they would discuss the matter thoroughly. Mr W. Coltman sdd he had been a little more than two years in tho colony, and what struck him then was that every onef seemed to be going in for land. They seemed to have no other idea than land, forgetting that the prosperity of a country depended as much on trade and commerce as it did on land. He thought the establishment, of a Woollen Factory a step in tho right direction. Wool was sent Home from this colony, "manufactured.at Home, and sent out here again in cloths, after having paid a heavy duty, and he could not see why that could not be manufactured in the colony chaaper, Ho had faith in the project, and would take 20 shares if a company could be started. They could begin, in a'email way at first, even if they blankets. This meeting had been to test the feeling of tlw people on. the subject, and he hoped-they would express | their opinions freely. Tlierei were jSqme j .people present who would talk very well out side the door, but would noli talk here. Let them talk now, so that the feeling of the people may be known. Mr J. M. Twomey did not wish to intrude himseif on the meeting, but; he felt ao great an interest in the establishment of local industries that he would- like to make a few remarks. Reference had been made to the progress Ashburton had made. As he had lived for some time in Ashburton he knew something about that place, and would give th'em a brief history of the ndustries originated there. A few years ago Ashburton was very dull, and its leading people formed themselves into an Iniustrial Association, and set about making inquiries as. to the best industries they could.start. ; They got information from Europe, America, and all parts of the world, and discussed matters thoroughly between them. After this they held a very successful ejhibie tion. Exhibits came from all parts of thcolony, and the result was most satisfactory. It was chiefly to this Industrial Association Ashburton owed its, enviable position He was glad to find the people of Geraldine were arousing themselves' to the (idvantages of local industries, but it appeared te him they had not gathered sufficient information to do anything that evening. What he would suggest to them iv-.s to form a Committee to inquire into the matter. This plan had been adop'ed in Temnka,. and it had proved successful.

Mr Mundell would like to know what hud been a success in Temuka 1 .

Mr Twomey : Well, a tender for £llOs has been accepted for the erection of th« Bu'.ter nnd Cheese Factory ; the Directors aio to meet next Monday to choose fchd spot on which tliey will place tlia build* in", sui'l the work is to be procoeded with at once. The share list of the Linseed Company has closed, and a eufficient muiiber of shares have been taken up to warrant the Company being floated. I call that success. (Applause.) The Chairman : It is success Mr Mundell would like to hear some of the wool-growers express thair opinion on the subject. It appeared to him that Messrs Cook and Dun lop had been relying on those who had requested them to, call the meeting to supply the information. He know nothing of tttf industry, but: he would like to see something started.

Mr Shaw said he was one of those who had requested Messrs Cook and Dunlop to call the meeting. The object wsb to ascertain f'-om the people wholher it feasible to form a Company. Bethought tli -- best thing they could do was to form a Committee.

Mr Mundell said that Mr Sando might he able to give them some, lintformation. He was no doubt well -posted in ! Buch imtt«rt"3 J i " '

Mr Sando said lis hid come then- as a visitor. He was not prepared to give any information regarding this industry, but he knew something of Ashburton. The Industrial Associa;ion in Anhburton m;.de aflnirioa about every industry they could ■Blfr of. - In that way«#gy set the ball anfl U had rolled successfully ever since. The best thins they could do that night was to appoint a Committee to make inquiries, cr taka isome pradical steps like Mr Ooltman, who said he would take 20 shares. Woollen factoiie* were a success all over the world, and there was no reaaan why one should not pay in Geraldine. The question was one of £ B .d. He almost regretted they had Started at the present moment, as he would like to have seen the other industries—the butter and cheese, and linseed fotftistries-establiahed first, which would be in a few months. In going about selling shares he had found there was a sort of jesdouay between Temuka and GeralJiiie. It was a pity both places did not putt together better- -The County of A«h4kirton was united, and a good deal of its success was due to that. He would like to nse the two places united, for if they were it would be good for both. Mr Mundell asked. Mr Sando what would be necessary to start a woollen factory.

Mr Sando could not answer that question. A hand loom might bo set up for £SO. It depended upon what they wanted.

The Chairman said there was no use talking of a hand loom. What they wanted to know was Low much would start them so as to be able to make blankets equal to, f»nd as cheap as they are done, elsewhere.

Mr Coltman said that where he came from, he had seen 100 hands working in a place where the machinery did not cost £6OO. In order to arrive at some practical result he would move—"'That this meeting approves of the desirability of appointing a Committee to make all necessary enquiries ie woollen factory and other local industries, and lay their report before a future meeting.' Mr D. Shaw seconded tha motion.

MrTwomey wished to put two facts before the meeting. Out cf all the indußtries into which they inquired the Aahburton Industrial Association had chosen the woollen factory, It was shown that woollen factories had been ft success wherever they had been established. These two facts were strongly in favor of the project. (He"r, hear.) Sattertlnvaite. as a seller cf woollen rjjefeda, thought the movement a step in k the right direction. He had spoken lo several commercial travellers and they all ; admitted that Geraldine was. admirably suited for a woollen factory. The matter would have his warmest support. ; MrTwomey : I have seen in a newspaper that there are 700 hands employed in the Kaiapoi factory. What would your town be if you had so many employed , sbere 1 (Hear, hear.) Mr Shaw said they should not look upon what tl.ey would get out of the factory «o much as the increased value it would put on property. (Hear, hear-) It was necessary to start something for the rising generation. He would put £SO at least into it.

Mr Sando said he had some experience of floating companies, and he would advise them to be careful of the preliminary expenses. The preliminary expenses of a company with a capital of £SOOO which had been floated not 100 miles from where they stood were £4OO. : MrTwomey : Perhaps Vr Sando vill also tell the meeting that a company wiih a simibr capital, and with which Mr Sando has been more intimately connected, was floated for £6O.

Mr Sando : That is quite true. j Mr Shiers said the best thing they! could do was to appoint a Committee. The shares in the Kii»poi factory were £25 each, and the oap : tal was several thousand pounds, Mr Amos Sherratt said the Kaiap'u factory was started wUh ft capital of £4OOO. The intention thpn was to make flannel only but Mr Peacock found it would not pay, and so he sold oiit to a company. It was found that making flannel 9lon« would not pay, as somethingremained after the flannel was made which would have to be Utilised. So the capital had to be increased and it, had been going on increasing since. When he had heard of the movement to start something in Uridine, he felt surprised that they had awakened ba sense of their own interests. He had seen capital going as far as Auckland, and there was no reason why they should not find investment, for it nearer home. If anything of the kind could be started it would add to the value of property,, and anyone who owned a quarteracre section in the place ought to go in for it, He was ready to taks a sharo or two in it. As for the statement that there were 700 men working in the Kaiapoi factory, there was not; so let them keep as near the truth as they cou'd Mr Cook said that the present capital

of the Kaiapoi factory was £250,000. Sir Uracroft Wilson and others had £IOOO each in it biu they recently made the shares" £25 each, and the capital oil the company was increased. He was sure there were between 600 and 700 hands employed in the factory.

Mir Davis said tint £IOOO a week was paid as wages in Kaiapoi. If they had only half that in Geraldine they would do well, (Applause.)

Mr S nd.) said they would nevnr float it if the leading men contented themselves with taking only 5 or 6 shares each. If they wanted to start it they must, launch out properly. Mr Mundell thought Mr Sando was making a mistake about the people of Cteraldine. He would find if they once started they would launch out properly.

Mr Shaw sniff Mr Sando wanted to throw cold water on it. He was not afraid that sufficient money could not be got. Look at Temtika. It had started two companies. There was no danger of not gettiug the capital in Geraldins.

Mr Sando denied that li3 was throwing cold water on it. He only wanted them to know the difficulty of selling shares. Mr Coltman did not see any difficulty in the way so long as they were united. If ten small men took twenty shares each they would be equal to the big man who took 200 bhares.

Mr C, K. Sherralt thought it would be well to make the shares aB small as possible, so that they would be within the reach of all.

Mr Davis said the fact that the Kaiupoi and Mosgiel Factories were so successful showed that their's would also be a success. The Mosgiel Factory had imported an electric light apparatus, so as to work night and d»y to execnU the orders it had in hand.

The motion was then put and carried unanimously. After some further discussion, it was resolved to ask such as were not present of the following gentlemen to act as a Committee, viz - Messrs W. Postlethwaite, N. Dunlop, R. S. Cook, W. Coltman, Shiers, Davis, Kelman, Shaw, Tripp, Mnndell, Allan, A Sherratt, C. K. Sherratt, Farrell, Satterthwaite, Young, DeEenzie, McKenzie, Maslin, Slack, Walker, Hughes, R. A. Banter, Hon. J. B. A. Acland, Flatinan, Taylor, Dennisteun, and Dr Fiah, five of whom would form a quotum. Mr R. S. Cook was appointed convener, aud'Mr N. Dunlop Secretary to the Committee.

Mr Young moved a vote of thanks to the Chairman, and it was carried unanimously.' The meeting then terminated.