The Daily Telegraph MONDAY, OCTOBER 23, 1882.

Daily Telegraph (Napier), Issue 3523, 23 October 1882, Page 2

The Daily Telegraph MONDAY, OCTOBER 23, 1882.

Thk prospectus of the Canterbury Linseed Oil and Fibre Company has been placed in our hands, and it certainly looks a most promising undertaking. It is this company that owea its existence to the untiring exertions of Mr J. Davis, late of Wairoa, and, as he is an old Hawke's Bay settler, we are glad to be able to congratulate him upon the success that has attended his efforts. The company was registered under the new Act last Wednesday, a provisional directory having previous'y been appointed, ?nd over 1400 shares taken up out of the 2000 offered. It augurs well for the C( mpany that practical farmers are the largest shareholders, and so convinced are grain growers in Canterbury and Otago of the benefits to be derived from the cultivation of the Europeaa flax as a rotatory crop that already other companies are being formed in the Timaru and Temuka districts on the lines of that which, under the direction of Mr Davis, has been floated in the Ellesmere district. In this latter large and highly cultivated agricultural district three miils are to be erected, machinery for which has been ordered from Belfast, and in anticipation of which the farmers have laid down large breadths of land in flax, which at the present moment is about six inches high and looks remarkably healthy. The prospectus contains the following : — " The objects of the proposed company are to encourage the production of Euroflax or lint, and to undertake the preparation of the fibre for twine or other purposes, also to manufacture linseed oil and cake from the seed, and otherwise to utilise (he material. The company would promote tbe cultivation of the plant as being a valuable auxiliary in the general farm rotation, and be prepared to purchase the crops either scutched or in the straw. The seed could be dealt with in the crushing mill, and the oil and cake would form usefnl commodities of every day consumption. It is proposed to erect scutching mills in the districts where the crops are grown, and a factory in a central position, convenient to the line of railway, where all other processes of manufacture will be undertaken. The great consumption of binding twine and

string for packing and ordinary purposes givee promise of a demand for all the fibre that can be produced for some time to come, and its adaptability for the manufacture of paper gives additional value to the material. The promoters believe that farmers will do well by plantiag moderate areas, in well-worked and suitable soils, md that the produce will awply repay them for their outlay and trouble. The anticipated impetus to the meat trade by the adoption of the freezing process gives great hope that oil cake will be largely used, and that its manufacture will be an important feature in the enterprise. After careful calculations aa to the cost of plant and working expenses the promoters are assured that there will remain a handsome margin for profit, and that tbe industry will ultimately develop into one of the most important in tbe colony. It is estimated that £4000 will be sufficient to acquire land, erect tb° necessary buildings, provide all requisite machinery, and meet the preliminary expenses. The promoters have in contemplation the employment of an expert in flax growing and manipulation, whose services would be available to farmers requiring instruction in the details." We understand that a few shares are at the disposal of Mr Davis, and in view of the operations of the Meat Export Company and of the Hawke's Bay Refrigerating Company greatly increasing the demand for fat cattle "and cheep, and thereby necessitating artificial feeding, it might be to the advantage of Hawke's Bay landowners to have an interest in a company whose object it ia to supply oil cake.