THE IRON INDUSTRY.

Taranaki Daily News, Volume LV, Issue 277, 15 April 1913, Page 3

THE IRON INDUSTRY.

PROSPECTS AT PATKA. SEEKING ENGLISH CAPITAL. Patea, April 11. fn connection with the imnsand industry. Mr. A. D. Bayfield waited upon the Patea Harbour board and asked for ail extension of the option held by him. He had been in negotiations with certain financial people in America, but these had not borne fruit, and he had ■hanged his «Toitnd to England. He had. he said, interviewed Mr. Loriuier. of the Imperial Trade Commission. with regard to the ironsawl industry, and as a result he hud ajfreed to send a t]Uantitv of ironsand for experimental purposes. ITe (Mr. Bayfield) contemplated emp]onii'.r an electrical engineer to assist him in his experiments, and to carry out certain prospecting work forthwith, with a view to ascertainim the quantity of sand available under the option. Under the circumstances he would ask foi an extension for twelve months of the option already granted. Under thr agreement he Iml to expend the sum ol £2.000 in the erection of works. He alsc , ?.«kpd that whatever was spent in pros pectin" be set oIT against Ibis sum. Mr Bayfield. contiuuincr. said that he was ii touch with influenlial people, who wonh he. prepared to nut up a considerable sum of money if they were satisfied tli-n a sufficient quantity of sand existed. ITi hnd the statement of eminent men tlia' 'he sand wa* workable provided it wa the-re in s ilVicient nuantities. The Bo.n'd has decided to grant th noplieitt;ion. The cliainnan s-'id li< thonniit that if there was miy likeli hood of the iron industry bein<; >tartei the Board ontrlil to assist in the mallei —"Wanganui Chronicle."