ONAKAKA IRON
“ HAVING A BAD RUN.” WELLINGTON, August 4. A -.bonus of 30s per ton on the production of iron from the Onakaka. works, Golden Ray. is apparently insufficient to develop this industry in New. Zealand and there was considerable' demand by members in the House to-day for an increased duty on imported iron. It was stated that Indian pig iron can be landed in New Zealand at £0 2s (Id a ton and that it
cost more to bring New Zealand iron to Wellington than pig iron from India. It was suggested by Mr E. J. Howard (Christchurch South)" that instead of prohibiting the importation of iron it would be preferable to let the people know exactly what tho New Zealand iron industry was costing tihem hv increasing tho subsidy on production even if it meant £3 per ton. Mr 'Hudson (Motueka): They have not asked for that. The Hon G. J. Anderson, Minister of Mines, expressed the opinion that the iron manufacturing industry in New Zealand was certainly having a bad
run. A good deal Had been done for the Onakaka. Company, which was faced with a powerful corporation in India producing iron at a very low cost. The company had considered whether it was possible to keep them out of the market, and Cabinet had tho matter
under consideration, though ho was not in a position to say what might he done. The company did not ask for an increased subsidy, but some tariff protection. The subsidy was increased not in its total, but by making larger payments per ton spread over a shorter period. When this took place the importer of Indian iron, a gentleman wellknown in Dunedin, reduced the price and the Onakaka Company then asked the Government to vary the conditions by paying so much in bonus and so much in duty. A ]>oint for the Government’s consideration was that v\hile the Indian Government' was paying export bonus on this iron and New Zealand was paying a bonus on its own iron it was not so easy to apply the dumping duty clause. What Cabinet would finally decide lie was not in a position to say.
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Hokitika Guardian, 6 August 1926, Page 1
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362ONAKAKA IRON Hokitika Guardian, 6 August 1926, Page 1
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