ANOTHER CEMENT COMPANY.

Dominion, Volume 6, Issue 1593, 9 November 1912, Page 6

ANOTHER CEMENT COMPANY.

■ ■:. '■' ■> —>—<- Architects, building contractors- and others who have had. anything to dp with building construction • in; recent years jknow-'.that'cement—an adequate supply •of. (too•of..the chief difficulties to be contended with. in large Undertakings. It is an age: of cement, and practically in all countries Te*infbrced concrete .plays a very important part not alone in building construction,, nut also in'bridge building and other structural works. All the. cement companies operating in Now Zealand are doing a profitable business, and notwithstanding that supplies have increased the .demand is still very large. With these facts before us it is interesting to.note that a further effort is being made to exploit the resources/ of New Zealand and the prosper tus of the Dominion Portland Cement Company, Limited, which we publish this morning, will appeal alike to investors and.all interested in building Construction. ■■',■■ ' The capital «f the Company i» fixed at .£250,000, in .£1 shares, but of this 80,000 shares are held itt reserve,' and of tbe bal* ance 60,000 shares are to be allotted to the vendors in. full payment, of all rights and properties purchased by the Company, leaving HO,OOO shares open for puhlio subscription, on the the easy terms of 2s. Gd. per share on application, 2s. Gel. per share, on allotment and the balance in calls not exceeding 2s. 6d. per "share at intervals of not less than three months. This means that the payment-for snares, assuming that the whole amount per share is called up, Will extend over a period of at least 18 months. The company is to acquire a property of 2220 acreslcnown as '"IMkorangi," situated on the. Whangarei Harbour, ■ also. a property at Te- Matai Point, containing a deposit of white limestone, also to take over the right to receive hydroelectric power at o niaximnm price of ,£9 per n.p. per annum. It is estimated that Tikorangi contains oyer 400,000,000 tons of cement rook, with only a. few inches of overburthen of earth, and the cement is practically identical ,in composition 'with that being obtained by Wilson's Portland Cement Company,' one of the most successful of such concerns in New Zealand. ■The Dominion Portland Cement Company, will have many advantages over competitors. Besides the proved quality of the cement,.' and the enormous quantity available, the cost of production will be comparatively small, because by utilising hydroelectric power from Bs, to 10s. per ton (Will be saved. On an estimated minimum production of 60,000 tons ■ per annum, this saving alone is equal to a (rain, of ' ■ The s facilities for operating, which ac- . count for a great deal in an undertaking of this character and magnitude, ore exceptional. Ocean-.soing. steamers will be able to lie alongside the company's wharf at all tides and in any weather. The works site Will be alongside the raw material, so that there will be the minimum of haulage and handling: the Government railway is in close proximity and a short connecting siding will link up the Works : to the Government system and materially reduce the cast of bringing in coal or taking out cement. The company proposes to install the very latest cement plant, and this is estimated fa cost not more than i!G5,000, to produce 60,000 tons of cementvper annum, For an additional capital expenditure of .£35,000, the producing capacity can be doubled. In an undertaking of this nature the personal equation amounts to a great deal. Efficient and thorough management, and by that we mean expert and economical management, is of the utmost importance if success is..to be registered, and the Dominion Portland Cemdftt Company is promising in this respect. The provisional directorate is a strong one and includes many well-known men, who are not likely to associate themselves with ■a proposition that cannot stand tho : closest scrutiny. The active management of the concern is to be entrusted to Sir. W. ,T. Wilson, who has been associated with'the Wilson's Portland Cement Company since its inception. Sir. Wilsran's knowledge of the business, is not confined to New Zealand; Mr. Wilson has made four trips to Great Britain, the United State and Canada, since MO4, for the express pur'■TXiso of acquainting himself with tho latest develoDmemts in cement manufacture. Mr. Nathaniel Wilson, the father of the proposed manager, is one of the provisional directors and it is specially nnd specifically stated in the prospectus that neither of. these gentlemen is receiving any consideration whatever for identifyinp; their interests with those of tiie company. The prospectus will repay perusal, and in passing Wo may say that it is one of the cleanest and clearest firospectuses that wo have seen issued in New Zealand for many a long day.