OIL AND IRON

Taihape Daily Times, Issue 220, 19 April 1917, Page 2

OIL AND IRON

POSSIBILITIES IN TARANAKI. PROMISE OP GREAT INDUSTRIES. A MINISTER'S IMPRESSIONS. "While at New Plymouth," said the Hon. G. W. Russell to an interviewer, "I had an opportunity of going over the oil works, inspecting the harbour, and a,lso visiting the Taranaki ironsand works. With regard' to the oil at the Blenheim bore and the Taranaki oil works, both bores are down well towards the 5000 ft. level, at which it is expected the final result will be achieved. Considering the nature of the stratum, the rnanagers are quite hopeful of success. While at the refinery, I was able to examine the balance sheet for the last half-year of a shallow-well company in that locality. The bore showed an output for the six months of 41,000 gallons of oil. The gross returns were £IO7O, and th e working expenses £450. As the original cost of the well was £6500, there is a good indication that if other wells were' established and the same results were obtained (of which there is every reason to be confident), the proposition would" be payable practically from the start, and if three or more wells were establisTied, the refinery which has just been built at a huge cost would also pay well. Although the oil works at Moturoa, up to the present, have been disappointing, the examination I made leads me as a layman, to hold the opinion that they will still work out satisfactorily, and a great industry will be added to those we have at present." j The Minister added that the keen- i est interest he felt in the disrict was in connection with the ironsand works which were now approaching completion. These had been erected on high ground near the inside of one of the Sugar Loaves. The machinery was up to date in every way, and every possible test had been applied. At least £25,000 had been sunk in the venture, and in three or four weeks it was anticipated that there would be a trial run of the plunTT The natural supply would be an important element of the scheme, as the coa] had to be powdered and mixed in the necessary quantities with the ironsand. "The whole equipment," said the Minister, "strikes me as having been carefully planned, and the managers are confident of success, although, naturally, they anticipate that there may be some little difficulty at the start. When completed, this plant will be capable of turning out .ten tons of pig iron per day. If the 'methods proposed are successful, .'here will be no reason why there should not be a chain of similar works laid down as far as Patea, and even Wanganui, as ironsand is found along the entire coast, as well as on the shores of Tasman Bay, at the head of which Nelson is located. The possibilities, therefore, of the new industry for the Dominion are huge. If the • scheme is successful it will be possible to manufacture pig-iron at a price considerably below that being paid at the present time, and, when freights are normal, New Zealand will be able to compete against the imported article. I have no hesitation in stating that if Taranaki finds the scheme is successful I will be prepared to use my influence as a public man to do my best in assisting in the development of the iron industry, which is absolutely necessary to every form of industry and manufacture."