IRON DEPOSITS.

Dominion, Volume 7, Issue 1870, 2 October 1913, Page 10

IRON DEPOSITS.

STATE OR PRIVATE ENTERPRISE.

Asked b.v the Hon. R. M'Kenzie in tho House of Representatives yesterday whether ho intended to submit any proprsals to Parliament this session for the development of tho Parapara iron deposits, the Hon. W. F. Massey (l'rimo Minister) said that so far private enterprise had failed to submit to the Government any scheme for developing this deposit which could -possibly bo entertained. The Government had no present intention to submit proposals to Parliament enabling' thom to work tho Parapara iron deposits as a State enterprise. Mr. M'lvenzie emphasised the desirability of developing the iron industry in New Zealand as rapidly as possible, and said that he was very anxious to know whether tho Government intended to do anything at all in tho matter this session.

Mr. M'Callum urged tho Government to take the matter up. Ho did not suggest,'lie said, that the Ethelburgh. syndicate should be given all that it asked, but it was wrong that the whole matter should be shelved. They wanted to know what tho committee of experts consulted by the Minister of, Finance had recommended. Mr. Allen: Have a little patience— you will see. Mr. C. A. Wilkinson said that tho proposals submitted to Parliament by the Ethelburgh syndicate were nothing elso than a gross job. He had never heard of anything worse. The country was asked to guarantee the interest on a very large sum of money. The promoters of the scheme proposed, under that guarantee, to unload shares on tlie British public and make a large profit for themselves. This was nothing else than jobbery of the grossest kind. He hoped that members of the House would watch tho Ethelburgh syndicate very carefully. It required watching. Mr. H. G. Ell urged that the iron industry should be developed as a Stato enterprise.