THE WOOLLEN TRADE.
WELLINGTON WOOLLEN COMPANY. [Per Press Association.] WELLINGTON, Sept. 7. At the annual meeting of the Wellington Woollen Company to-day, the ex-chairman of directors said that notwithstanding the severe financial depression and general contraction of business and enterprise throughout the Dominion the volume of the company’s business did not show a decline. The sales were slightly in excess of those of last year. A more cheerful tone was already apparent, and with the moving of the excessive retail stocks into consumption more confidence in the forward outlook prevailed in the trade. The industry had passed through five difficult years, due principally to marked disturbances, uncontrollable, though not of a permanent character. He believed a steadier, and more normal condition in the woollen trade was approaching. The total liabilities had been reduced by £24,843, and stood at £42,515, with assets at £187,569. The report, which recommended a dividend of six per cent, was adopted.
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Gisborne Times, Volume XXVII, Issue 2601, 8 September 1909, Page 5
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155THE WOOLLEN TRADE. Gisborne Times, Volume XXVII, Issue 2601, 8 September 1909, Page 5
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