ONAKAKA IRON COMPANY.

Taranaki Daily News, 18 December 1920, Page 6

ONAKAKA IRON COMPANY.

STATUTORY MEETING The statutory meeting of the Onakaka Iron and Steel Co., Ltd., was held yesterday at the Taranaki County Council chambers. In the absence of the chairman of the provisional committee (Air. J. K. Leggo, of Nelson) Mr. G. Frascr (Auckland) presided. Mr. Fraser submitted a report in the course of which he stated that the company had been raised to work and develop the iron ore of the Onakaka lease in making foundry pig iron. The blast furnaces and equipment are - shortly to be erected on modern lines. Sir. J. A. Ileskett, who has great experience in this direction, has heen appointed manager. The provisional directors, who acted in the floating of the company, go out of office at this stage, but are eligible for re-election.

The general report stated that'the total nuniDor of shares allotted to date is 52,322,, of which 15,000 have been issued as fully paid up to the vendors, the consideration being the sale to the company of a modern blast furnace and appurtenances; 10,511(1 . issued as fully paid-up to the Onakaka Syndicate, and 4500 issued as fully paid-up to the promoters of the company. It -was decided that the number of directors should be twelve. Of these four are to be appointed later by the Onakaka Syndicate. For the remaining eight vacancies eleven names were submitted and the following were elected: Messrs. ,T. R. Le«j;o (Nelson), O. Fraser (Auckland), K. Masters (Stratford), Campbell Thomson (Dannevirkei, O. Lomas (New Plymouth), ,1. J, K. Gilmour (Dannevirkei, F. Craven (Danncvirke), J. Ringland (Dunedin).