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CASTLEMAINE WOOLLEN MILLS, j

CASTLEMAINE, Friday.

The annual meeting of the Castlemaine Woollen Co. was held this afternoon, Mr. E D. Williams, M.L A , chairman of direc- tors, piesiding. The directors' leport snowed

the eomptny to be in -i healthy finircial position, with the outlook more pion*Jatng thai, at anx time m the histor*, of tlie companj The balance to ciedit for the half jeal w-is £3,00J/U/_ iiom wlucli t dividend of 5 pet cent. x\ i_ deelircd Dur ing Jie jeal additions to buildings ind nn ploiements to machinen and phut hld entailed an expenditure of L8 000, and in ordet to paj olf tins, .mount the dtiect-t recommended th.t the c-ipittl of the com ntnj be incrcised fiom i_o OOO u> £30 000 by cieiting 5 000 new shine at £1 etch share«. _o be olfcred pío iat. to present -h*iieho!ders onh, tnd pud up to 6/0 per shale «li ire» to be allotie 1 at 1/, with c ill not to exceed Od per month, ind when 13/6 pel Mine his been pid the bil mee of fi/(i xvill be transfoned to cipttal fiom .tccumulated pioht» Share« «ill not be entitled "o dividends until fullx pud _hi_ recommend.tion w is idopted b\ the meet ing tnd confiimed bx t spectil meeting, held inunchately -ifterx*. *trds

In «peaking on the repoit the ehairm.n alluded to the xtige bond ippotnted iiudei the lac-ones and Shops Vet Ile «ud the null oivivers had been iceused of not jneet

ing the etnplojc- to de-cti-S the wages que-tion but as the emplojes had sent delegate« *imong«t whom «eie men xxho had not vvorl ed m tlie mills for ovei 20 jeir« the owner» coiisideied such men were not in *i jiosition to deal xwth he question .Vnothei objection bx the on nels was that the dclegites from the emplojes only re Ere etiteel the coloured _,oods mills, the hill et fhnnel and txxeed mills not being represented Die owners xiere perfecjy willing it înx time to meet the emplojes, so long is thej weie bona fide employes <_ motion was carried bv the meeting ap proving of the action of the duectors in

the matter

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