ONAKAKA IRON COY
IN LIQUIDATION. i By Teleyruplt —Per Press Association) NELSON, Alaivli :«). Tile Onakstka Iron and Steel company lias d/cided to go into liquidation. TTie ' decision will mean the throwing of 18!) men out ol employment, and the loss of £54,001) a year in wages. T tie Directors are handing over immediately to the- ■trustees lor the debenture holders. Every effort has been made b.v the Directors to obtain further financial assistance from the Government. l< without avail. The Company after three years ol preparation, started smelting iron tor commercial purposes in January ol 192-1. Later the manufacture of pipes was added to the enterprise. I fi sooitsihle for directing the C ompany s affairs have had an uphill tiglit. Much regret is felt 'that circumstances have compelled the Directors to take the present action.
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Hokitika Guardian, 31 March 1931, Page 3
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136ONAKAKA IRON COY Hokitika Guardian, 31 March 1931, Page 3
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