THE CEMENT INDUSTRY.

Taranaki Daily News, 25 March 1918, Page 2

THE CEMENT INDUSTRY.

PROPOSED AMALGAMATION. COMBINED CAPITAL, £OOO,OOO Affairs in connection with the cement; industry in the Auckland Province have I been in an unsettled ftate ; for Pome months past, chiefly owing to the advent in the field of a. new company at Wlinp«mrei—the Dominion -l-'orlknd Cement Company, a very large mill, the total capital invested in which, from first to last, amounts, it is understood, to over £450,000. When this company started manufacturing, the tlir?e Auckland eminent companies were unable to find a market at a profitable price for their total outputs), and on November 30 last the assets of the Dominion Company wero placed in the hands of the liquidator, Mr. F. T. Eyre. These assets were subsequently sold at auction in Auekand, and purchased by Mr. j.. '.._ 4 -ard for the sum of £137,750. The position has remained unsettled rince that time, but during the past few days a sharp rise in the shares of the Wilson and New Zealand Cement Companies suggested that some move was in contemplation. In consequence of this •a Herald reporter waited upon Mr. Geu. Elliot, chairman of the Wilson Portland CementACompany, to ask if some information could riot be given, in view of the rumnrT ihat were abroad. Mr. Elliot replied that his original intention was not to say anything until arrangements had been finally completed, but as so r..any of their shareholders were writing from the country for information, ho decided it was opportune to state the position of his company at the present time. The statement was then made t.hat ; a tentative agreement has been entered Into to amalgamate the three Auckland Oment Companies into one concern, and shares will bo allotted, subject to the consent of shareholders, as follows: Dominion Company 285,000 shares Wilson's Company 520,000 „ New Zealand Co. .. 05,000 „ Total capital .. 600,000 Before the fusion outlined above can be completed, it will be necessary for it to receive the sanction of the shareholders in all the companies interested. The present share capital of Wilson's Portland Cement, Company is 100,000 shares of £l, and that of the New Zealand Portland Cemenft, Company 110,000 shares of £l. If the proposed scheme is carried into operation it may mean the closing of one or two mills until such time as the demand for cement in New Zealand justifies the running of all of them.