Argus (Melbourne, Vic. : 1848 - 1957), Monday 12 August 1901, page 9


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 directors, presiding. The directors' report showed

the company to be in a healthy financial position, with the outlook more promising than, at any time in the history, of the company. The balance to credit for the half year was £3,00J/U/_ from which a dividend of 5 per cent. xx i declared During the year additions to buildings and no movements to machinery and plant had entailed an expenditure of 8000 and in order to pay off this, amount the directorrecommended that the capital of the com-may be increased from the OOO a £30,000 by creating 5,000 new shine at £1 each shares. to be offered pro rat. to present -shareholders only, and paid up to 6/0 per share The area to be allotted 1 at 1/, with call not to exceed 6d per month, and when 13/6 per Mine his been paid the bill mee of fifty will be transferred to capital from accumulated profits Shares will not be entitled to dividends until fully paid his recommend. tion was adopted by the meeting and confirmed by a special meeting, held immediately after. wards

In speaking on the report the chairman alluded to the stage board appointed under the Factories and Shops Act He said the coal owners had been accused of not meet

ing the employee to discuss the wages question but as the employes had sent delegates amongst whom were men who had not worked in the mills for over 20 years the owners considered such men were not in a position to deal with he question Another objection by the on news was that the delegates from the employes only are Ere entered the coloured goods mills, the hill at flannel and tweed mills not being represented Die owners were perfectly willing it in time to meet the employes, so long is they were bona-fide employes A motion was carried by the meeting approving of the action of the directors in

the matter