REVIVAL OF AUSTRIA.

Taranaki Daily News, 15 December 1919, Page 5

REVIVAL OF AUSTRIA.

CAPITAL FOR INDUSTRY WANTED. By Telegraph.—Press Assn.—Copyright. Received Dec. 14, 5.5 p.m. Paris, Dec. 12.

The Chancellor, Dr. Reimer, and a party of business experts, are iu Paris, seeking to raise capital to re-start Austrian industries by the sale of the Danubian fleet and the Austrian State railways for a sum of £1,600,000,000. They point out that Austria has vast resources of iron ore in the Duchy of Styria, where there are also clever workmen and intact factories. There are also excellent markets in Hungary and Jugo-Slavia, but it is impossible to develop the resources owing to lack of capital to work Ue raw material.—Aus.-N.Z. Cable Assn, ITALY SECURES IRON ORE. Received Dec. 14, 5.5 p.m. London, Dec. 12. The Milan correspondent of the Daily Chronicle states that for the purpose of freeing Italy from dependence on foreign markets for iron ore, Italy has acquired the Austrian mining company, the Alpine Montan Gesselsehaft, and foundries at Mounterzerberg, in Styria. It is estimated that these foundries alone can produce a million tons of steel annually, and it is estimated that the mines can be Worked for two hundred years. It is hoped that within a year Italy will not require to import iron ore.—Aus.-N.Z. Cable Assn.