WARNING TO INVESTORS.

NZ Truth, Issue 63, 1 September 1906, Page 7

WARNING TO INVESTORS.

, There isa company holding patent rights j k'ty .Viotoriaj New. South Wales, and tfri^

out, and the bubble burst, but it cost the companies something for cables to Paris to countermand orders, and the mining fields never set eyes on that French diddler again. Other similar tricks have /been tried, only to euchre themselves.

Lately the Iron and Steel Manufacturing Company was formed, but as the parties connected with it were nobodies, little attention was paid to it, until it became whispered about that a great discovery had been made. Briefly, it was that a process had been found to treat various ores and New Zealand sands m such a way as to produce a steel far ahead of anything yet heard of. Patents Were taken out all over Australia, and a company inaugurated whose then sole capital was the patents. When a bit bad been

. SUBSCRIBED A FURNACE was erected m South Melbourne for a prac' tical run. The best of ore sands were obtained, tests made intermittently, and reports issued that "so far as can be judged the plant can now be kept running constantly, and the process, therefore, demonstrated .to the satisfaction of all concerned." Then the manager again reports that "during the half year trial runs again fully proved ' the correctness of the process to the satisfaction of those present; but I regret that the lining did not stand long enough to permit of a public demonstration." That's just where

THE PUBLIC FALL IN. They were no more than laboratory demonstrations, just as was the French product alluded to above. However, a company has been formed, among which are a few interesting items, as follow :— Capital subscribed, £23,720, m £5 shares; premiums (included on shares), £970; profit and .loss account, £15,879; debit balance, £2161; £15,000 of "this' is set down as an asset for the patent rights. Various high-grade ores have been treated for ages by simple and well-known direct processes, and what is now required is the treatment of commercial ores on a | largie scale, used for the manufacture of i steel and iron throughout the world. Like all inventors, this one thinks because what is no more than a laboratory test has given good results the great problem has been solved.

As soon as a few of these South Melbourne tests were made, someone must get some boodle out of it. The market was operated upon thusly. Emissaries from the ( two "gun clubs" were sent out to

SPOIL THE EGYPTIANS. Schleinter sales were made, and shares bolted away from £s'to £ob! And then the world wondered! "What's this? No one ever heard of it." "Where is it?" inquired one of the public, ever ready to go m for a gamble, at such immense profits, notwithstanding Worrall and Judkins. "Well, shares are hard to get," is the reply. (There are 6000 m the company). "Well, get me one or two, five if possible." He always got them, but he didn't always get out of them. In this way the promoters "did their little bit." Then the outside holder of his few wanted to know "where he are?" and what he'd got for his £20 or £30, as the case may be?

AW this was all the satisfaction he got at a meeting of the company, held last week. A v Shareholder: Has the offer by the Sydne^- people for an option to purchase the company's patent be.eu exercised?