Taranaki Ironsand.

Manawatu Herald, 15 February 1902, Page 3

Taranaki Ironsand.

Among the passengers by the Karamea this (Tuesday) morning, says the Post, were the Hon. A. J. Cadman, M.L.C., and Mr E. M. Smith, M.H.R., who have been on an extended visit to England with the object of floating a company to work the Taranaki ironsand deposits. An Evening Post reporter who waited on these two gentlemen with a request lor an interview was referred to Mr Cadman, who acted at spokseman. Mr Cadman stated that hia return to the colony was necessitated partly by the state of his health. During the greater part of his stay in the Old Country he was very far from well, and was under careful medical treatment. Shortly before leaving England his health began to improve, and he is now considerably better, but he felt that it would not be safe to spend the remainder of the winter at home, and he decided to return to New Zealand for a time—a course that was rendered more advisable as there were certain important matters of business which had to be attended to in New Zealand, and which required his personal supervision. Asked as to the results of bis attempt to float the ironsand company, Mr Cadman replied that all he could say at the present time was that the matter was in a very satisfactory position, and, unless something unexpected occurred in the interval, he had every hope of ultimate success on his return to England. “Of course,” he remarked, “ it is a big thing to float a company with a working capital of £250,0u0. It has been decided not to flqat the company on the Stock Exchange, hut to raise the capital privately, and work it as a registered company.” Mr Cadman added that had he cared to do so he could easily have floated a company in a certain way, with every prospect of considerable personal advantage. The matter was, however, of such great moment to the colony, in the administration of which he has taken a prominent part for years, that he felt that it would not be right to carry the project into effect except on the soundest and strictest business lines. That is what he is endeavouring to do, and, as he remarked, such a company takes a long while to float. However, he expresses himself as being very hopeful of the ultimate success of the scheme, and has little doubt that on his return to England—he will leave New Zealand again in a few weeks—he will be able to bring the affair to a satisfactory conclusion.