OUR PROJECTED WOOLLEN COMPANIES.

Wairarapa Daily Times, Volume 3, Issue 961, 29 December 1881, Page 2

OUR PROJECTED WOOLLEN COMPANIES.

! (From the Pastoral and Agricultural nows) Dec. 1881. At the present time when the attention of everyono is monopolised hy the general • election it would perhaps be unreasonable to expect that any great progress should be made in the development of new commercial projects, On this account we are not surprised that little has been heard ' lately of the New Zealand (Wellington) Wollen Manufacturing Company, or the Wairarapa (Sfasterton) Woollen Factory Company. So Many of the leading spirits in both ventures are engaged in electioneering that they have no time to bestow on anything else. By the time this mini- ! ber of the Industrial Gazette is in the hands of its readers, the electioneering will, however, be a thing of the past, and we trust that when tho excitement is over no time will be lost before pushing the enterprises by steady and energetic canvassing. The Masterton settlers have not been altogether idle. A meeting was held on Thursday, the 24th November, at which the prospectus of the company was submitted and adopted. The capital, part of which has been promised from' England, is to be £IO,OOO in shares of £s.shares, and if 1000 shares are not applied for within a reasonable time the deposits are to be returned less a sum not exceeding one shilling per share for preliminary expenses. A sub-committe was appointed,'and shares to the value of£3loowere taken up in the room. It is satisfactory to see'that even as much as this has been done; but it is to be hoped that the promoters will' notmako the mistake of thinking that they have accomplished the main part of their work. The two concerns are now, practically speaking, on the same footing as far is progress is concerned. The question avisos,-are both in a fair way to become accomplished facts? AVe ask the question beeause at Oamara and Timaru similar attempts which looked just as healthy have come to grief, and from what wo can gather the cause of the collapse in both instances has been want of energy in the promoters af or the preliminary daßh, Now, Wellington is sadly in want of a woollen factory, and as there is every prospect of the capital po invested yielding a good return, it would be a thousand pities if the sobeme were allowed to, fall througli, after being so favorably: broached. But does Wellington want two factories ? We think not. Would it hot be better to have one certain success than two languishing failures? Could not the intercuts of the city and country be . amalgamated to their mutual benefit ? A concession might be made to the Wairarapa settlers providedtbey joined the enterprise by arranging to have' jihe. factory , buile in that district; ; Th r 6re, wohldbe no disadvantage in thitf:';on the contrary, it appears to us fhat MiasWton would be an exoellant place fontteituated as/it is in the heart ola splendid district with ready ; , means of communication by rail or road j .with Wellington.Napier Wanganui.Pal« : werstou, Foxton, New Plymouth, the JI

Waimate > Plains, and other .places fifotia. which valuable supplies', Of raw. material could be obtained.- Without it we do not say we foar,Mse are doubtful as to the future. Our atrace is that as soon "as the elections ait oVer-tha provincial director's of the. Wellingtoltt Ve'riture should call a publiomeeting,aiid;have the propectsof of the cOmpany-placed folly, Wort ths\ people. If the.Mastertonpromoters will consent to be present and take pi in the proceedings a great point will be gained. If not they would perhaps;be dispo^kto,' open negotiations "which rflight.-ld||p*' gOod results; ■■ ■ ■"" ' <:<^*+