COLONIAL INDUSTRIES.

Temuka Leader, Issue 806, 27 December 1881, Page 3

COLONIAL INDUSTRIES.

There is nothing which tins colony requires more than the development of her resources, an 1 the establishment of local industries, and we are glad to find that several new industries have already been started, and that others are in contem-

plation . Of the Southern Cross Petroleum Company satisfactory news comes to hand. The second bore is 171 feet down, and 15. feet into the solid rock ; the water and oil exuding rose 80 feet in the tube. Five casks of paraffin' mineral were shipped for Melbourne on the lSlh inst. The appearances are 3aid to he very encouraging.

The JS T ew Zealand Fruit Preserving Company has been fully organised in Dunedin, and the Directors are now in negotiation for a suitable plant which has been offered them fron. a neighboring colony, and it is expected that operations will be in full swing- during the present year.

The Wellington Tobacco Growing Co, has received very satisfactory reports of the young plants which are springing up on settlers' farms in various districts. Some specimens of (he plants have been forwarded to Wellington, where they may be seen at. the company's office, in Panama street. They are About four inches high and look healthy and flourishing, and sufficiently advanced for transplanting. By the end of this month most of the early sets will have been planted out, Seed is still being distributed. It is extremely likely a tobacco growing company will also be formed in Wnnganui, the project being now under consideration by some of the leading settlers in that district.

Mr J. L. Coster, manager for the New Zealand Shipping Company writing from London, «ay3 with regard to the frozen meat by the Orient, the carcasses looked like any other mutton, though inside

\nn could see moisture from thawing. The Middle I fc'mlc down to Somersetshire and lifter hanging it for three days, it was roasted. The food was the best mutton I

had eaten since leaving New Zealand—the juice was in the meat, and could be ladled up from the cut. The meat 1 purchased was charged to me at 8d per lb, The vendor showed me some Devonshire mutton, which he said was worth 9id, but I find saddles are retailed at about Is." Uirect Steam Communication may be exexpected to be established before long and a frozen meat industry started, which would enable the Colony to geo rid of its surplus stock at a profitable price. Chambers' Journal gives publicity to a scheme which is on foot in England to start a company for the initiation of tea and silk culture on a large scalehere Silk gram has already arrived in New Zealand by the last mail-stearner.

We find also that besides the woollen factories already in existence there are Others about to be started. Recently efforts were made is Tirnaru to get up a Company for the purpose of starting a woollen factory in that town but it fell hrough. There can be no doubt, however, that the matter will be taken in baud again and that eventually it will succeed. The prospectus of a Company lias been issued in M.isterton and has met with good encouragement. The capital is proposed to be £IO,OOO in £5 shares part of which will be taken up in England. Shares to the value of £2IOO were taken up in the room. In Wellington also efforts are being made with the same object in view and there appears little doubt of ultimate success.

A large and influential company is being formed to develop the business ot the Westport Coal Company. The capital is to be £400,000 in 80,000 shares of £5 each. Of these 30,000 shares half paid up will be taken in payment !>y the present proprietors of the mine, and according to the prospectus 25,000 will be placed on the Melbourne market, and a similar number reserved for new Zealand. Owing to the grent demand for shares in Melbourne it has been decided to give the Melbourne brokers an additional 10.000 shares to dispose of, and according to latest advice the whole of these have nearly been absorbed. In Dunedin 10,000 shares have been taken up, and it is practic lily certain that the whole of the capital has been subscribed It sppaks volumes for the confidence which our neighbors in Victoria have in the future of New Zealand coal fields that they should come forward in a few weeks with sush a sum as £175.000 towards the formation of this company. The demand for tlie Westport coal is already much larger than can be satisfied, and as soon as the increased capital has been utilised, an indefinite expansion of the business is bound to follow.