SCRAP IRON.

Hokitika Guardian, 9 January 1930, Page 3

SCRAP IRON.

SHIPMENT FOR AMERICA. DEAL WITH RAILWAY DEPARTMENT. By Telegraph—Per Press Association.! AUCKLAND, January 7. Something quite novel in the export line from New Zealand is to he the shipping next month from Auckland of a thousand tons of scrap iron and junk, which has been purchased from the Railway Department by Mr H. Kirchenbaum as a speculation Mr Kirchenbaum arrived in Auckland about four months ago with a few suitcases packed with Continental currency, which represented, millions on paper provided some of the Continental Powers redeemed it in due course, and since then has been on the lookout for likely speculations. The sight of much' good iron and junk scattered round the railway landscape at Newmarket intrigued him, tvitli the result that he made arrangements with the Railway Department 1 to buy | up a thousand-ton lot. By cable ho

arranged with an American firm in San Francisco to buy it, with the r - suit that next month it will he loaded into one of the Union Company’s freighters at Auckland. “I go round and T see iron lying everywhere,” said Mr Kirchenbaum this morning in relating how he came to make a deal with the Railway Department. “I cable to America and find there is such a big market there tint I could fill up ten or fifteen ships with it. They want it to make motor-cars with, and perhaps they will send the motor-cars hack to New Zealand.”

Mr Kirchenbaum waspained to learn that in New Zealand the practice was to dump worn-out railway engines and much scrap iron in fillings, and lie thought that such useful stuff could Re nut to good . purpose here. “Don’t hide your money in the <?ronnd” lie added naively ns he showed his contract notes as proof that that everything was signed;; up in connection with the thousand!-ton shipment He is baneful of the Rail Wav Department being able to provide him with some (future shipments. On the subject'of'price, Mr Kirclienbaum preserved a discreet silence. Tt was gathered, however, that it was quite satisfactory as far as lie personally was concerned.