For presentation to the Shareholders at the Fourth Ordinary Meeting of the Company to be held at the Otices of the General Managers fon Wednesday, the 9th March, 1898, at 4 o'clock p.m.
The Directors now submit their, Report, together with the accounts of the Company, for the year ending 31st December, 1897.
The Mill commenced work in April with 1,00 spindles, increasing to 23,100 spindles by the end of the year; night and day work. ing was started on Ist November, the aver; number of spindles running during that and the, following month being 18,000; the wh of the 25,000 spindles are now erected. buildings, with some small addition to Card Room, are capable of housing between 40,000 and '50,000 spindles; the Directors recommend that the gradual increase in the number of spindles up to the full capacity of the mill be now taken in hand, and a resolution to this effect will be proposed at the forthcoming meeting. 4 In order to provide for this extension of the mill, and to reduce the Bank overdraft, the Directors will ask the authority of the Shareholders to issue the remainder of the Capital of the Company.
The Profit and Loss Account shows a credit balance of Tis, 21,108.37, which the Directors recommend be carried forward.
Text read from the printed page and cleaned; old type leaves the occasional error.