NEW ZEALAND IRON

Taranaki Daily News, Volume LII, Issue 133, 3 July 1909, Page 2

NEW ZEALAND IRON

FLOTATION 01:' A COMPANY. THE TREASURES OF PARAPARA AND TAUAXAKI. An industrial enterprise which is expected to prove of the greatest importance to .New Zealand is at the present time being planned by a group of southcm capitalists (says yesterday's Dominion). A Christchufch syndicate has been registered with a capital of £40,(1(1(1 for the purposes of taking over the extensive iron leases at Parapn'ra. in the -Nelson district, and Now Plymouth. The intent inn is to form a very large company to work the deposits on" an extensive scale. Coal leases are being tak;n up within eight miles of the deposit, at Paraptra. it i s anticipated that a large portion of the requisite capital ' will be found in New Zealand. Very little has been heard of tile Parapara deposits since the last unsuccessful attempt to float a large company hi England for the .purpose of working . them. A couple of years ago it was confidently anticipated that £500,000 would be raised in London for this pur- j pose, but nothing came of Jt, although J the promoters, relying upon expert opin- / ion, expected to produce all the iron re- f quired m Xew Zealand and a large sur-/ plus for export. II

i'lte fact that (he great deposit ol iron ore at Parapara has remained si long practically untouched becomes a/l the more remarkable when it is realisil that its existence has been well ■kno-.Vn tor many years. J u the early days, before the advent of white people, tlie iron ore was used by the Maoris for milking,paint.

Ihe Inranaki Lunsaiid. which is also (0 Jie worked by the proposed Hf\v company, was' at one time brought prominently before the public bv the late llr. I'.. M. Smith, M.H.R., but work in ••onucclioii with it never got bevoyl the experimental stage. All the iron at present used in Xew Zealand is imported Tile Registrar of the .Supreme Court, Mr. D. (.. A. Cooper, has been /-ji<ra<»ed in taking evidence in coiiucctio' I'ith a i'?!'" of * 4, . , ' linn »""'° »y Mr.loscph Witnefonl, ot London (formerly a member of the New Zealand House of Re-' presents lives), against the Public Trustee in the estate of the late Sir' A. J Cadman, the Hon. Hamilton Gilnier, Mr. Allan Maguire, and Mr DanW Berry |Xew Plymouth), r„ r ~||o „ cd breach ot agreement in regard to the sale of defendants' lease of the Parapara iron deposits Mr. Levi appeared l for the plamtill, Mr. Stafford for the Public Trustee, ami Mr. Dal/.iell for the other defoadants.