TARANAKI IRONSAND.

Greymouth Evening Star, Volume XXXI, 14 November 1901, Page 4

TARANAKI IRONSAND.

More Successful Tests,

“ The Biggest thing New Zealand has everknoarn.

London, September 27,

This week some further steel _goods, in the shape of cuttlery, made from Taranaki ironsand, were received by Messrs A, J. Cadman and E. M. Smith, at their offices, 13 Victoria street. There, on Wednesday, I saw the Hon A. J. Cadman, and had a short, but interesting chat with him. Every expert, without exception, who had seen the goods, had declared them to be equal to the best cutlery made from Swedish steel, he told me. Perhaps no higher praise than that could be given. “Then you are satisfied as to the capabilities of the sand ?” I asked Mi Cadman.

“ Quite,” be replied. “In fact, had I six months ago possessed the knowledge I have now, I would rot have come to England to get money. I would have got enough in the colony to start, anyhow and would have kept the whole thing to New Zealand.”

“ Should you carry the project through before you leave England ? ”

“I feel satisfied we shall. Unless our negotiations break down I think we ought to fix up. Of course, there is always a risk until things are absolutely settled.”

“Then, so far as things have gone, they are quite satisfactory ?” “Yes. There will probably be some conditions attached, and to these the Government will have to see. As to these, I shall have to communicate direct with the Premier. The money is now ready here for underwriting; the capital will be provided on the conditions to which I have referred. It will be for the Government to say ‘Yes’ or ‘No.’ If they want the industry established in the colony they will say ‘Yes.’ “ What is the capital of the company ?” “ Well, the working capital is £350,000 (a quarter of a million),” replied Mr Cadmau, “ and when we get fully to work we shall employ quite 1000 men and boys, probably more.” “That will be a big thing for New Zealand.

“It will be the biggest things New Zealand has ever known, for it will not only be the ironsandthat will be utilised, but coal, lime, and other things will be developed.” “ What are the conditions of which you have spoken ? Would they be rebates in the duty plant ?”

“ That would be one thing, but only a small matter compared with the duty now paid by the colony generally on the imported article. There are a good many iron things that go into the colony free, you know.”

Thinking, perhaps, that a partial revision of the New Zealand tariff might be implied, I pressed Mr Cadman somewhat as to the conditions, but he preferred to go no further. He went on to say, however : “ While some iron and steel goods are free, duty is paid on others. The latter we, of course, do not want taken off. In fact, when we start we shall have to reduce the price of iron 10 per cent in order to capture the trade of the colony. This, in itself, will be a great benefit to the colony. While we get the benefit of the bums offered, the colony will thus get an equivalent,”