The Ashburton Guardian. Magna est Veritas et Prævalebit. TUESDAY, JUNE 12, 1888. A KAURI SYNDICATE.

Ashburton Guardian, Volume VII, Issue 1865, 12 June 1888, Page 2

The Ashburton Guardian. Magna est Veritas et Prævalebit. TUESDAY, JUNE 12, 1888. A KAURI SYNDICATE.

The days of syndicates aro upon us. The old Btylo firm or company is now protty well obsolete. It is syndicates which construct our railways, it is syndicates which aro to develop our mineral resources, it is syndicates which are buying up land for speculation, and now it is a syndicate which is to run the tienbor trade m the north. A Victorian syndicate, we aro informed, has bought up the kauri forests m Auckland as well »8 all tho mills, and intendi going m largely for the cutting up of the valuable timbers there, and tho manufacture and exportation of it, A capital of £1,000,000 will be invested m the venture, and the tendency of tho operations will bo to increase the gross output and to decrease proportionately the export of baulk timber. At present from 2000 to 3000 hands are employed m connection with tho timber industry, involving an annual expenditure m wages of from £175,000 to £200,000. The promoters of tho venture are sanguine that the output will bo augmented through the extensive area that will bo covered by the operations of the syndicate and that tho number of men engaged will bo increased. It is claimed also that a sure return will be given .ta investors, and that it wilY be a distinct advantago to tho industry a3 a whole and that conflictions arising through diffcront owners using the samo creeks, etc., will be removed. Ono of tho provisions of tho agreement iB that none of the vendors of properties shall deal m timber m the distriot for ten years. With scarcely ono exception the whole of the timber industry m tho district has come under tho domination of tho syndicate. '1 he " New Zealand Herald," commenting on the project says : — We havo reason to believe that negotiations have novi reached a stage which ensures accomp, HBhment of their object. And notwithi standing the fears which have been expressed as to the effects of a monopoly we think tho formation and success oj the syndicate a matter for congratulation JNothing would do more, m our opinion^ to lift us out of the depression int( which wo have fallen than an infusion o; Victorian capital, energy, and businesi ability. We want our mines, our forests and our lands developed and made t( pay, It is notorious that, of late year* at all events, wo have failed to mak< them pay, and m consequence there ii no progress, no life, and much insolvency W* »r.e glad to understand that Auck land capital and management have i largo share m tho ne^ yowturc. W< wish our friends every kuccosb, and w< hope their enterprise will bo the fore runner of further developments of j similar kind,