We have taken advantage of the strike to make various changes in the working of the mill, which have resulted in a steady improvement in the quality of our yarn, and in our production generally, That this is already being recognized, is proved by the fact'that the Chinese Cotton Goods Exchange has re-valued our various chops of yarn at. higher prices as compared with standard yarn, and we hope to obtain a forther re-valuation shortly, As pointed out to you last year, our waste plant, which is more ess of an experimental nature, was too small, and your Directors had under contemplation an extension of the same. Following out this policy, our waste plant has, during the past year, been extended sufficiently to take' care of all the waste produced the mill, This extension, together with the cost of the new building for housing the same, has involved outlay of approximately Ths. £0,000. We hope to have the new plant" working by April 15, and thereafter be uble to dispense' with the sale of any of our waste to local dealers.
The poor quality and high price last season's China Cotton me ented the desirability of being less dependent on local staples, and of equipping the mill to be able to utilise larger quantities of Indian Cotton. With this object in view, your Directors decided to replace of the old blowing room inery by machinery comprising all the intext improvements, Part ery is now working, idea should be ready im results fully justify the expectations placed therein, The finish: ed_yarn is visibly cleaner, and we shall in future be in a position to use grades of cotton which hitherto have been unsuitable for our quirements, owing to heavy contents of leaf and other impurities such as are usually found staples.
Text read from the printed page and cleaned; old type leaves the occasional error.