IRON AND STEEL INDUSTRY OF NEW ZEALAND.

Taranaki Daily News, Volume XXXXV, Issue 132, 5 June 1903, Page 2

IRON AND STEEL INDUSTRY OF NEW ZEALAND.

AN INrBRKSTING CIRCULAR, (From our Own Ooeresposdent.) London, April 24. I have bsen fav urtd with a c *py of a circuhr, which is b-ing widely distributed in the city. It will bo noticed tint the prop-wd company is to make a profit of £200,000 per annum 00 • capital if £600,000. I hope it will! The circu'a-, verbatim et littaratim, runs as follows:

"1 he Hon. A. J. Chdm«i, 0.M.0, late Minister for Mines in New Zealand, at present on a visit to tbi* country, holds leases over territoiiee containirg rich deposits of iron on and ironsind. The former extend* over an area of 1000 acres, which, accord iog to an official report, i* e«tim«ted to contain no less than 100,000,000 tons of ore on the surface aloiio, tnd tin Utter is a concession from tho local authorities of New Plymouth extending over 10 miles of foreshore. Exp'riments on an extensive scale bav<) been made for the pest 30 years, which at la<t have resulted in a triumph for Mr K. Mutcalfe Smith, a member of the House of Representatives, who has discovered and protected a process whereby this valuable deposit of ironstnds oan bs successfully treated, and excellent pig-iron produced therefrom at a ve>y srnill cost, some 300 tons of iron having already bean produced from which articles differing so widely as cart wht els and surgical instrument of the first quality bave been made. Mr. O J. Soeius, F.R.8., vicepresident of the Iron anl Sttel Institute, ia his report, says: 4 The sanda are rich in iron, and free from tulphur and phosphorus. The sample of pigiron was extremely tough, good grey foundry iroD, chilling with a clem surface. Tho enormous deposit cf the iron-sands osrtainly guarantees a supply of material for 50 years to come, and the profits should be large and last<ng.' Mr. R. Price Williams, M.1.0.E., 82, Yic'oria-street, London, ia his report, says: 'ln my opinion the quality of the material prodded from this ironsand is of such ix.e'lenoe a* to tender it cf a sp.cial vilue.' Mr. F. Siemens, of 10,Qieen Anne's Gate, Westminster, says: ' I hive had an opportunity of examining the specimens of pig-iron produced by Mr. E. Metcalfe Smith, »nd it seems that wrought iron in here, xhe-4 0 , viip, etc., as well asstesland castings, all of excel!ent quality, oan be made from the pig iron produced from the natural iron ore. Containing only from 2 to 4 per cent, of titanium, it is better as an iron ore than any I have yet seen.' Sir Frederick Abel, secretary and director of the Imperial Insti'ute, in his report, says: 4 The New Zealatd ore is decidedly superior to the Northampton ore.' Sir Jmnct Sector, K.0.M.G., F.R.S.inhis*port, says: 'This iron \>ss the following characters Colour uniform approaching whi to, structure homogeneous, and finely granular, hard, and brittle/ " Ia oidtr to ecqnire the leases, etc., from Mr Oadman, and to erect build* ings, furnaces, plmt, machinery, etc., a company is to be formed with a otpital of .£600,000, on which, after making most liberal deductions frcm flaunt supplied by experts, it is estimated that a profit of at least £200,000 per annum will be made. The Government have undertaken to encourage the enterprise, and on the foregoing basis will grant a •übaidy of £20,000 on the first 20,000 tons of iron produced, and will further promote the success of the undertakirg by placing all possible contracts with the company. Favourable reports have been received f.om Mr O. J. Snelus, F.R.8., vice president Iron and Steel Institute; Mr B. Price-William*, M.1.0.E.; Mr H. Alien, lecturer cn manufacture of iron and steel, Birtow School of Science; Sir James Hector, K.O.M.G, M.D., F.R S; Sir Fradetick f

Abel, director Imp riil Institute; Mr W, 8. Rey, New Zealand Government Analyst. Toe undersigned hu bean m'homed by Mr Oidmm to forma syndicate for the promotion of the said le tmpany, and a prospectus for private jcircuktion will shortly be is«usd.—M, ,Fabm'b Kii>g, 8, Mi re Oour* Chambers, Temp'e, K. 0., February 28,1903." | I l ave thought it better to give an ex ci reproduction of this interesting hfocumnnr. withrut venturing to cirreot 'its occasionally eccentric spelling. I taresaytbat Mr " E. Metoufe Smith " I may possibly recognise himself, but I should very muoh doubt whether the "NewZeiland Government Analyst" will acknowledge as an old arquaintaooe « Mr W. 8, Rey."- Auckland Etmli.