THE IRON INDUSTRY.
EXTENSION OF BOUNTIES. (By Wire.—Parliamentary Reporter.) Wellington, Last Night. The Iron and Steel Industries Act, 1914, provides for the encouragement of the manufacture of iron and steel in New Zealand. It authorises the Gov-1 ernment to pay bounties up to a maximum amount of £150,000 at the rate of 129 a ton for pig iron, puddled bar iron, and steel produced from bar iron, and 24s a ton for steel produced direct from the furnace. An amending Bill Introduced in the House of Representatives to-day extends from March 31, 1824, to March 31, 1931, the last date on which the bounty will be paid. The Prime Minister, speaking on the introduction of the Bill, stated that the war had come after the passing of the original Act, and nothing had been done. It was possible that some companies would be prepared to establish a claim to the bounties within the next few years, and the period wa3 being extended accordingly. The bounties would cover both iron ore and ironsand.
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Taranaki Daily News, 28 October 1920, Page 5
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172THE IRON INDUSTRY. Taranaki Daily News, 28 October 1920, Page 5
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