AUSTRIA INTERNALLY.

Hokitika Guardian, 16 December 1919, Page 3

AUSTRIA INTERNALLY.

(aDSTBAMAN & N.Z. CABLE ASSOCIATION] AUSTRIAN INDUSTRIES. PARIS, Dec. 13. The Austrian Chancellor, Dr Rennci and a party of Austrian business men exports, who are now in Paris are seeking to raise ’capital to restart- the Austrian industries. They are believed to be negotiating with a Franco-American syndicate for the sale of the Danubian steamer fleet and the Austrian State Railways foi the sum of sixteen million sterling. They point out that Austria has vast resources of iron ore in the Duchy ol Stvria where there are also clever workmen and intact factories. There are also excellent markets in Hungary and irr Jugo-Slavia. The draw-back expressed is that it is impossible to develop these resources owing to the lack of capital to work up the raw material. LONDON, Dec. 13. The ‘Daily Chronicle’s” Milan eorrespondent state stliat for the purpose oi freeing Italy from dependence on foreigners for iron ore, Italy has acquired the Austrian Mining Company. The Alpine Mantan Gesselsehaft and its foundries at Mounterzerberg in Styria. It is estimated that these foundries alone can produce a million tons of steel annually, and it is estimated that the mines can be worked for two hundred years. . It is hoped than within a year, Italy will not reuiqrejtonnportrtron ore.