A VALUABLE NEW ZEALAND INDUSTRY.

South Canterbury Times, Issue 2384, 6 November 1880, Page 4

A VALUABLE NEW ZEALAND INDUSTRY.

1 n another column will bo found the prospectus of the Caswell Sound Marble, I’ortland Cement, and Mining Company. Caswell Sound is situated on the West Coast of this island, midway between Dusky hay and Milford Sound, and possesses mineral resources which only require capital to bo developed. The Ciswell marble deposits are of vast extent, the stone is already well and favorably known, having secured first prize at the Sydney Exhibition, although pitted against varieties from Italy and elsewhere. When it is remembered that the consumption of marble, Portland cement, and lime in the Australian colonies during the past twelve months is represented by the astonishingly large sum of nearly £d,000,000 sterling, "the importance of the scheme under consideration will be apparent. Marble suitable for the sculptor is an exceedingly valuable commodity. The ordinary price paid at Home for a block large enough for a life-sized human statue is said to be £IOOO. The lowest quotation for the Caswell marble is 12s per foot, while it rises as high as £5, and the cost of production is but 2s per cubic foot. The production of Portland cement and lime will also engage the attention of the Company, and will doubtless form important sources of revenue. As an incentive to the development of this new industry, the Government have been asked to guarantee 5 per cent on the actual subscribed capital of the Company for five years from the date of registration, to give an absolute Crown grant of 5000 acres of land, an additional grant on terms, at 10s per acre, for purposes of settlement, the right to cut timber and mine for coal and other minerals, and a bonus of £2OOO on the first £IOOO worth of marble sold, and £IOOO on the first £2OOO of Portland cement sold. A favorable reply has been received from Government, intimating its willingness to consider the proposals as far as possible within the provisions of the existing law as soon as the Company is prepared to fulfil its portion of any arrangements that may be entered into. The companj' will doubtless be in a position, when once fairly floated to employ the labor of a great many hands, and thus indirectly confer another great advantage on the couutiy.