Ironsand Concessions.

Taranaki Daily News, Volume XXXXV, Issue XXXXV, 11 December 1903, Page 4

Ironsand Concessions.

REGISTRATION' OF PRELIMINARY COMPANY. Tine New '/.enhuul Herald London correspondent, writing under date Oct. JiO, says :—To-day I had a short chat wil'h Mr Denys, account-

ant of Port-almd House. E.C., the gentleman Who has had in band the. formation of a company for the exploitation! of -the New Zealand ironsand anttl other concessions secured by Sir A. .1. Caiihuan. ■•We haw now registered the Colonial Iron and Coalfields Construction Confpunv." says Mr Denys. ■■The capital is £25,1)00 in 20.000 ordinary shares of £1 each, and JOO,OOO IS' or founders' shares of

Is each. This company is what may lx- termeil a first expense company—that is to say, its object is to carry the matter on until a further aind larger company is furmud. Having done this', Mr Furnier King, the representative of the company, left London a few days ago to join the I North German steamer Bremen, for the purpose of visiting New Zealand personally."

■'■ These founders' shares—are they to go to the original promoters ?"

"Not at all," answered Mr Denys. "Some of them will be allotted to the ordinary shareholders if they so desire. As to the larger company, f have not the slightest doubt that we shall be able to form, thiait. What is tihe object of Mr Farmer King's visit to the colony ? Well, we understand that the New Zealand Government will not guarantee debentures, but from speeches which have Tjeen made in Parliament, they say that if an industry is started they will give orders. Now, London iiiva'iiriers are very sceptical, and Mr King has gone for the purpose of getting the options and other matters put into paper form—into black and white, if you like—so that when lue comes back he will be to show that we have something to go upon before we start putting up machinery. An-d, as I have said," remarked Mr Denys, in cow.lus/ign, ••'I have no fear of the result,"