Opening of Wing On Textile Ca. on Saturday: Capitalized at $6,000,000
The formal opening of the new Wing On Textile Coy La, took place at the company's new" mill in Lay Rond on Saturday afternoon last. A large number of friends Htook advantage of the occasion to sent their. compliments and inpect the handsome buildings in which the mill is accommodated, The president of the new company, Mr.
Gock Lock, managing director of the Wing On' Ca,, Ld., assisted: by Mr. W. Gocksun, manging director P. Leong, Manager, and the Sirectors, as well as the officers of }the company, welcomed the guests, who, after being, served with refreshments, were "shown round Tt was interesting to note that most of the organizers of the new concern were Chinese. who had amassed fortunes in Australia aid had come back to the land of their ancestors to invest their capital, The Wing On Textile Ca. Ld.; was originally intended to be a' sub-diary company of the Wing On Ca,, but it was Inter decided to jerry it dri as a separate company and to have it registered in the Ministry of Agriculture and Commerce, Peking.
The capital of the Wing On Textile Ca, Ld, was originally set down as $8,000,000, but owing to the great demand for shares, this was increased within two months to $5,000,000, shares being $100 each, Again the demand was too heavy and it was decided further to in-
Jerease the capital by $1,000,000, making it $6,000,000 in all, - Some 100 mow of land has been purchased a site in the _Yangtszepoo District, 40 mow of this being held in reserve for a second mill,
Text read from the printed page and cleaned; old type leaves the occasional error.