TELEGRAMS.

Hokitika Guardian, 22 July 1921, Page 3

TELEGRAMS.

VARIOUS DOMINION ITEMS.

(BV TELICGRAPn—iTRR PRESS ASSOCIATION]

CITY COUNCIL LOAN WELLINGTON, July 22. The City Council decided last night to go on the London market for a loan of £750,000.

IRON ORE PROSPECTS. WELLINGTON, July 22,

The Minister of Mines has received some interesting information concerning the progress of operations at Onaliaka. where preparations are being made by Onahaka Iron and Steel Company for the manufacture of iron from the New Zealand ore company, which proposes to make pig iron from Limonite ore in Para Para district, and has acquired the blast furnaces and plant formerly erected at New Plymouth for smelting iron sand. Phis furnace has been enlarged and set up at Onaliaka. Iron ore is a, surface deposit and is brought to the furnace by an aerial tramway, over a distance of a mile and a half. The top of the terminal of the aerial is cut into a limestone face oh one side and into the iron ore on the other. This conjunction of required materials is stated to he unique. Experts estimate the ore will not cost more than two shillings per ton at the smelters. The Company aims at producing up to thirty tons of pig iron per day, the quantity sufficient, for New Zealand’s requirements.

WINDING UR. AUCKLAND, July 22. At a meeting held of shareholders of Talisman Goldmining Coy. to confirm the resolution for voluntarily winding up. the Chairman of Directors (Mr Blanchard) presided. The Directors, on their solicitor’s advice had decided the Secretary of the Company, (Mr Lotion) should he appointed liquidator, on the understanding that Stansfield (Mine Supt.) and Blanchard ho his attorneys here. Blanchard suggested three liquidators he appointed, Stansli<dd himself and Crewe. Mr Shailer Weston of Wellington protested that t he Chairman made the suggestion with out notifying his co-directors. Mr Richmond (solicitor) said the liquidator must he under English jurisdiction, hut Kent (solicitor) stated there was no bar to the appointment of three liquidators. Mr Weston said the directors had £120,0(X) to divide among the shareholders. If Blanchard went On with his proposal, he would go to the English courts to have him removed from office.

After consulting his solicitor, Mr Blanchard said he was prepared to drop his suggestion, lie moved a formal resolution confirming the previous one providing for the voluntary winding up of the company. This was carried. Crewe (London Secretary) was appointed liquidator, Crewe to appoint as New Zealand attorneys, Stansfield and Blanchard. Mr 'Weston said ho thought shareholders could rely on a dividend of seven shillings. The Chairman stated 1 it could not he received until the end of September at the earliest.