AUSTRALIAN.

Hokitika Guardian, 29 May 1922, Page 2

AUSTRALIAN.

AUSTRALIAN ANb N.Z. CABLE ASSOCIATION. J IMPORTANT RUBBER INVENTION. * MELBOURNE, May 28. | ,A; Melbourne maji lias invented and . perfected a. new process of manufac- j tiring rubber. It is one. of such import- , mice that the negotiations for its sale have so far realised £2,000,000. The essence of the process is the cheapening of the cost of making rubber, and the utilisation of old tyres,, and of all kinds of discarded rubber to make new rubber. The invention has Ilot been without its trkgedy. The inventor, William Stocks, lias died, and did liot live to reap the reward of his success. He died some time ago from heart failure, after having started a factory j, New Zealand. Small companies wore forfned in Melbourne and in New Zealand to handle the invention, but. later on. agents were sent to England and to America to exploit it. Eventmdlv tliev met Dr Woodward, the prosklent of several rubber companies in America, and their object was accomplished. The Melbourne company and the New Zealand option party receive in equal shares 10,009,f0Gd01. made nn of l,509.o:X)do1. in cash and 2,300.009 dol. in shares in an American company, and also 1,000,C03d01. in cash and 5.200, OThlol. in shares in subsequent companies to he formed in other countries. In addition, the Australian agents are in virtual control of the American company until the whole world’s rights are disposed of.

The inventor’s share of the revenue received to date from the patents amounts to £2O,O'XI. His son. who is a son by a first, marriage, does not inherit one penhv of the fortune. Under a simple will, it passes into the hands of Mrs Stocks, who is living in New Zealand.