GOVERNMENT ASSISTS IRON INDUSTRY

Sun (Auckland), Volume II, Issue 343, 2 May 1928, Page 12

GOVERNMENT ASSISTS IRON INDUSTRY

When Cabinet decided a few months i ago to penalise the “dumping” that has : been carried on in Xew Zealand with . pig-irdn, Onakaka became automatic- j ally assured of the whole market in j New Zealand. Consumers are pleased because the I quality of the New Zealand iron is better, and the price remains at the ; low level forced by the ‘•dumping’.” I Onakaka Iron and Steel Co.. Ltd., is I pleased. because on account ofj the demand, cost of production has al- f ready been reduced to make this low- j selling price highly remunerative. Costs have dropped £. 1 a ton since i last year's operations, and another sub- j stantial drop will be effected by ex- j tension of plant and metallurgical improvements. Bigger profits are to be earned by the manufacture of cast iron pipes and j steel castings. Still more profits will ; accrue by utilising the by-products which are to-day running to waste. Capital is needed for these improvements, and the company offers % per ! cent, first mortgage debentures with \ right of conversion into shares after j three years. Don’t miss a chance like j this! Investigate the figures: Prospectuses and full particulars may ! be obtained from the secretary. Nlr. r>. O. Johnston, of Watkins. Hull. Hunt Vv heeler. Public Accountants, Wellington, or at the firm's: branch of- i rice, third floor. Xational Bank Build- ! inv. Fort Street. Auckland, where ap- . plications will be received. Call or write to-day for your prospectus. —5 j