MARTERTON WOOLLEN FACTORY.

Wairarapa Daily Times, Volume 3, Issue 940, 2 December 1881, Page 3

MARTERTON WOOLLEN FACTORY.

A meeting of the Coiniiiilteo was held in tlie Templo Chambers yesterday. Present: —Messrs Renall (Chairman), Mnrray, Soliar. Wrijiley, Beuthain, Vilo, Cole, McCardle, and Paytnu. The meeting nf Iho previous meotinw havin? been read and confirmed, the Secretary read the foliowinj mpnrt Tho subcommittee appointed at the meeting last May to obtain information re machinery, site, and building, has now obtained tho information required as to coat of machinery and buildings, Mr PoWell, at the request of the Committee, wrote to a friend in Wales, and two mails ago received a reply, The sub-committeo wou)d liavo called you sooner, but thought it would not bo advisable, as Mr Powell expected further information by last mail in reference to tho assistance to bo expected from Home, Subsequent to Mr Powell's letter, Mr John Chew of Wellington, handed the Committee letters in reply to an enquiry forwarded to England at the request of tho chairman and secretary pro tem. The information from both parties is very similar, only in Mr Chew's case a more elaborate plun has ■ been sent. Tho sub-committee is now of opinion that a factory can be started with the capital proposed, and would recommend tlio publishing of a prospectus, whioh would test the real feeling of the settlors as to tho proposed undertaking. Mr Vile speaking to the report said that at the Kaiapoi works there were seventy looms. Tho l capital nf tho Company was .£IOO.OOO of which £40,000 was paid up. It expected to purchase £40,000 of wool J 1 the season. Tho Masterton Comcould only ba one-fifth the size of lipoi one, but following its example »lit start on a small scale and illy enlarge. Murray proposed that a prospectus be published to test the feeling of the distrjot. MrG. Beetham seconded the resolution, He would bo happy to take up fifty shares in the proposed Company. This resolution having been carried tho sub-committee was re-appointed with power to add to its number and tho getting out of the prospectus 'was left in its hands.. The meeting then adjourned.