Page 3 Advertisements Column 8

Waikato Times, Volume XX, Issue 1695, 17 May 1883, Page 3

Notices.

HAMILTON AUCTION MART.

Saturday, May 19th, at 2 p.m.

BEDSTEADS, MATTRESSES • Bedding, Colonial Sofas Tables, Clocks, Tools Potatoes, Bacon and Hams. Also, — A Mare, goes in harness or saddle. JOHN KNOX, Auctioneer.

ROSPECTUS OF MEW rTT EALAND TRON AND OTEEL /COMPANY (LIMJTED.) CAPITAL £200,000. 40,000 SHARES OF £5 EACH. 12,000 SHARES TO HE ALLOTED AT PRESENT.ANDTHE BALANCE WHEN IT IS FOUND NECESSARY TO ENLARGE THE WORKS. The Shares Held in Reserve will 1)» Allotted to the Shareholders at Par, in Proportion to the Number of Shares Held. Directors : CLARK, TAMES McCOSH, Auckland STONE, CAPTAIN JAMES, Auckland MORRIN, IHOMAS, Auckland CHAMBERS, JOHN, Auckland DAWSON, WILLIAM, Wellington HOLDSHIP, GEORGE, Auckland KEEP, J. H., Auckland GARDNER, GUY H., New York. Soi icitors : WHITAKER, RUSSELL, and BUDDLE, . Bankurs : BANK OF NEW ZEALAND. Si'Ciun art pro tern : JAMES MACFARLANE.

Tub New Zkai.and Iron and Stfkl Company (Limitkd), is organised to manufacture Bar and Pig Iron and Wire from the iron sand deposits on the West Coast, by means of the patents owned by Messrs John Chambers and U. H. Ganlnci . . , The practicability of these patents having been fully pro\cd by the works at present in operation at Onehunga, there remain but two points to bo considered- US'., the cost of manufacturing and the market for the product. THE COST. In estimating the comparative cost of manufacturing iron here and in England, there are three items to be considered, mz, labour, coal and raw material. - , . , The raw material is almost a nominal cost to us. The coal will cost no more here, than m England, for it is intended to use only gas for all heating purposes in the works, which can be produced by means of gas generators from slack or any brown coal at a tar lowci cost than the same amount of heat can be obtained from burning coal. Labour is then the only item which will cost more here than in England, and we have to consider what advantage we possess to counterbilancc this greater cost. Ihese advantages consist (Ist) in situation, by which we s.up 10 per cent on the Homo cost which is absorbed in tomnmsion, insurance, exchange and inteiest. and outward ireight, as the freight from Auckland or O.u-hunga to different phecs in the Colony will be no more than the cliaiiri'sin England in bringing the iron from the mills by lail and callage and shipping charges in London ; (2nd) in our proccs-, by which we save cost of fettling (or wrought iron sciap), which in puddhnjr from pig has to be put into the furnace, and the cos.t ot making the pi* and the waste of the same in puddling. Him L, a most important item in our tax our. and would be alone sufficient to counterbalance the greater cost of labour, for by the patents undei which this company will work, the same result i» obtained from ironsand as is obtained from pig iron, thus saving the expense of making the pi-'. The difference in cost bet .%ccn pig iron in England, suitable for making good bar • irotl^ and the ironsand at Onehunga being fully 35s per t0 If "then, wcTakc the amount of saving which we have by our process and situation to counterbalance the greater cost of wages in this Colony, Ist— lo per cent on the Home cost— say £1 ...Its •2nd— Saving in freight «" 3rd— bavins of fettling . ... ••; - •» 4th-Savin X of cost of making, the pig ... 3os sth— Saving of manufacturers prohts ■•■ '» 844 The total cost of labour in manufacturing pig iron into finished ba.s in England is under 35s per ton • so that if the cost of labour here is c\en as high as 00s there remains a large margin otpro' fat It is estimated that the total cost of the best finished bar iron at Onehunga will be undergo PertOn< THE MARKET. The production of cheap iron openi so large tt field ot industry that it is impossible to estimate the future of tins trade. It is -n undoubted fact that bar iron can be made from iuonsanD Moris CHI API 1 riIAN FROM ANY OIHI'K OKI. Ihe supply of raw matenal is unlimited, and New Zealand should become one of the largest iron producing' countiies in the world. The nnnv branches of manufacture, of whiCb cheap iron is the prime essential, will no doubt spring into lite now ihat loth iron nnd coal may be obtain, d in New Zealand, and with the supply so will the dimand incic-a=c. » t , •„ The amount of iron imported into Australasia in 1882, was as follows:— . Australia. New Zealand. Total i Tons. Tons. Bar Iron ... 44.500 0,260 63,7fi0 Fencing Wire .. 40,000 0,500 40,600 Galvanised Iron 37,080 8,000 4o 080 Pig Iron ... 24,500 4,000 28.n00 Patolron ... 8 260 1,000 10,260 Wire Nails ... 6,750 2,750 0,600 Hoop Iron ... 8,760 850 4,000 bhcetlron ... 3,500 600 . 4,100 These figures do not include Tasmania or Weit Australia. , „ _ „. . The present cost of South Staffordshire iron which is universally used in these cdlotitc*, is £7 10s t. o. b., London, costing delivery in New Zealand about 10s, which ii one ot the lowest puces for many vcars, owing to the depression of the iron industries in iing11 Auckland iron at £S, f. o. b,, would thus keep out the imported iron, and leave a large pront to the manufactuieis. It is also proposed to m.inufacturc the iron into a few articles- which aic largely used, such as fencing standards, fish-plates, railwaj spikes, &c, on which a larger profit can be made. Fencing standards cost in the botith Island about ,£ll per ton, and ate used to the extent of over JOOO tons per annum, and in other lines large quantities can be sold at better prohts than carl be made on bar iron. . Fencing wire being piotcctcd by a duty of £1 per ton, anri bj a large cost-uf importing, oltors n uruhtablii field of industry, and it is proposed to add this line to the products of the company as boon as ihu above operations arc at vvorki Ihe slag fioni the puddling turnacc-s. if it contains a sufficiently high percentage of iron, will be i-tncltcd in an oi dinar} blast furnace, and run into pig iron, thus utilising all the waste products. S}dney s.nd Melbourne will take a large quan» tity of iron from us, as low freights are easily obtained to those colonies. t It is expected that New Zealand iron can be sent to England and the United States at -K^y profitable pri( cs, as the iron made from sand in the United States by this process is found to bo of so superior a quality for making high-priced steel, that ihe whole of it is consumed by that btamh of industry, and the price paid would yield us a large profit. India, China, Japan and San Francisco open fields for exportation, which we m.i} shortlj hope to compete for, as our location is most favourable fwr them us a basis of supplies, and at certain seasons ot the year freight can be had at a merely nominal rate ; and a speedy enlargement ot the woiks, as the requirements of the trade may demand, is provided for in the 25.000 unallotted shares. Ihese sharei when allotted, will be offered to the stockholders at par in proportion to the shares held. 'Hits Company will take over the concessions obtained b> Messrs Chambers and Gardner, consisting of 1000 acres ot land, and four miles of foreshore on the North Head and two mi.es «f foreshore on the South Head of Manakau Harbour, and three miles of foreshore at faranaki, which will supply all the ironsand necessary for many jears to come. No other place on the West Coast offers such facilities ior cheap coal and ready transportation of the finished product as Onehunga, as from its location we can ship from either the East or the West Coasts, jnd from the North Head the sand can be put into barges at an> state of the tide or weather, without going outside the Heads, and brought to out own wharf. These considerations make these concessions particularly valuable, while the lease at Taranakt will be available for the manufacture of charcoal it on, as a good quality of charcoal can be obtained in that district at a reasonable price. . The New Zealand Government has offered a bonus of £1000 for the first 200 tons of wrought iron blooms, and an additional £1000 for the first 200 tons of pig iron manufactured from ironsand, which this Company will secure. The patents owned by Messrs Chambers and Gardner are so essential to the manufacture of iron by the direct process, tlut it is impossible to manufacture iron trom ironsand in payable quantities without them, thus securing to the company a virtual monopoly. Of the hrst allotment of shares Messrs Chambers and Gaidner will receive for their New Zealand patents 3000 shares paid-up to £4, and in future allotments of shares up to 40,000 in all, 25 per cent of such allotments paid up to £4. 9000 shares are at present offered to the public, payable as follows :— los on application, 10s on allotment, and 20* at intervals of 3, 6, and 9 months, the remaining 20s at an interval of not less than three months after the last call ; but it is not anticipated that it will be necessary to call up more than £4 per share. . In view of the many advantages which we possess— a large and constantly growing market at our doois, and separated by so many miles from its present base of supplies, a practically unlimited supply of ironsand, suitable coal at a low price close to hand, and the cheapness of our working— we have no hesitation in offering the shares of this company as one of the safest and most profitable investments which has ever been before the public. HE BILLIARD ROOM and TABLE at the Royal Hotel having latsly undergone a thorough overhaul, and the services of an experienced marker having been obtained, customers will not fail to "appreciate the change,