FORESTRY CAPITAL

Sun (Auckland), Volume III, Issue 716, 16 July 1929, Page 8

FORESTRY CAPITAL

COMING FROM OVERSEAS STRICT SUPERVISION URGED Such an enormous amount of overseas capital has been invested in afforestation in New Zealand that it is incumbent on the Government to keep a careful watch on the whole scheme. The above opinion was voiced this morning by Dr. W. H. Horton, chairman of directors of Mamaku Forests, Ltd., who returned by the Marama this morning from Australia. He was accompauied by Mr. H. P. Maguire, secretary ot the company. They have been investigating affoijitation in the Commonwealth. Dr. Horton said that Australia is taking a great deal of interest in afforestation in New Zealand. The general feeling in Sydney and Brisbane, among the business men, was that Australia is on the eve of a serious depression and that New Zealand is round the corner. “They are feeling very happy about us in Australia,” said Dr. Horton, “except for the earthquakes. Personally I think the reports of the ’quake will seriously affect our tourist traffic this year. There is a good deal of anxiety in Australia about the recent disaster.” Dr. Horton estimated that between £2,500,000 and £3,000,000 of Australian capital has been invested in afforestation in New Zealand. This prompted the remark that the Government should keep a careful watch on afforestation schemes of all kinds. “We have to send in accurate and very exhaustive returns every year, but I think that the Government should definitely supervise all afforestation, both public and private companies. “Investors are entitled to this safeguard. though personally 1 think all the afforestation companies have put their houses in order.”