A NEW TIMBER ENTERPRISE.

Taihape Daily Times, Volume XI, Issue 3517, 2 July 1920, Page 5

A NEW TIMBER ENTERPRISE.

The question of .timber supplies is one of pressing public importance, and therefore, considerable interest will ho awakened by the Abridged Prospectus of The Great Western Timber Company, Ltd., which is published in this issue. I Tlie new company is being formed with a capital of £325,000, divided into 125.000 shares bf' : £l each, to open up and work a large area of forest in the vicinity of the port of Okarito, South Westland. • ■ ■ i prospectus states'that there are 10.000 hcres over 'which the vendors |ave' the milling rights; 4000 acres on the shores'of thef OkaritbLagoon; 2000 aci'es just o'A* the' ! South' side of the littife’ township, while-4000 acres are further'north near the Wanganui River (south-of-Hokitika)P With regard to the 6000 acres adjacent to Okarito. Mr Gideon Anderson, Crown Lands Ranger, now Forestry Inspector, estimates that there is 80 per cent, rimu, 17 per cent) whitfe pine, the balance being silver pine, totara and matai. He further estimates that, this area will average 30,000 feet to the acre. The Ranger has given permission to stale that he considers there is no hush.' in Westland that will .compare with this, both as to the length of the bole and the number of trees to the acre. The average length of .the bole of the trees in the forest inspected was estimated to be not less than 80 feet, while some of them w r ere 120 feet. Mr J. Blair Mason, M. Inst. C.E., M. Inst. Mech. E., M.N.Z. Soc. C.E., the well-known Marine Engineer, visited Okarito, an.d his reports thereon are an interesting account of the possibilities of working the port. His conclusion is that with boats to suit the port in its present state getting, the timber out is certain. The timber content of the forest areas over which the vendors hold milling rights is estimated at three hundred million feet. Computed at £1 per hundred this means that the Company will start out with an asset that should be worth £3,000,000. Full particulars of the new enterprise are given in an illustrated booKlet entitled “New Zealand Monarchs of the Forest,” which can be obtained from any branch of the Bank of New Zealand. For the convenience of intending investors, an application formis being published in this issue, at the foot of the Vhridged Prospectus.