FORTUNE FOR IDEA.

Taranaki Daily News, 29 May 1922, Page 5

FORTUNE FOR IDEA.

NEW RUBBER PATENT, DEATH OF INVENTOR. NEW ZEALANDER INHERITS. By Telegraph.—Press Assn.-—Copyright. Received May 28, 5..5 p.m. Melbourne, May 27. A Melbourne man has invented and perfected a new process for the manufacture of rubber, and it is of such importance that negotiations for its sale have so far realised £2,000,000. The essence of the process is the cheapening of the cost of making rubber and the utilisation of old tyres and all kinds of discarded rubber to be made new. The invention is not without its tragedy. The inventor, Mr. Wdlliam Stocks, did not live to reap the reward of his success; he died some time ago from heart failure. He started a factory in New Zealand, and small companies were formed in Melbourne and New Zealand to handle the invention, but later agents were sent to England and America to exploit it. Eventually they met Dr. Woodward, president of several rubber companies in America, and the object was accomplished. The Melbourne company and the New Zealand option party receive in equal shares 10,000,000 dollars, made up of 1,500,000 dollars cash and 2,300,000 dollars in shares in the American company; and also one million dollars cash and 5,200,000 dollars in shares in subsequent companies to be formed in other countries. In addition, the Australian agents are in virtual control of the American company until the whole of the world’s rights are disposed of. The inventor’s share of the revenue received to date from patents amounts to £20,000. His son, who is a son of the inventor’s first marriage, does not inherit a penny of the fortune; under a simple will it passes into the hands of Mrs. Stocks, who is living in New Zealand.—Aus.-N.Z. Cable Assn.