Page 4 Advertisements Column 5

Waikato Times, Volume XX, Issue 1701, 31 May 1883, Page 4

Notices.

PROSPECTUS OF IVjEW yEALAND TRON AND QTEb-L /"COMPANY (LIMITLD.) CAPITAI £200,000. 40,000 SHARES OF £f> EACH. 12,000 SHAKES 10 HE ALLOT ED AT PRESENT.AND THE ISALANCE WHEN IT IS FOUND NECESSARY TO ENLARGE THE WORKS. The Shares Held in Reserve will he Allotted to the Shareholders at Par, in Proportion to the Number of Shares Held. Diklciors : CLARK, TAMES McCOSH, Auckland SI ONE, CAPTAIN JAMES, Auckland MORRIN, IHOMAS, Auckland CHAMBERS, JOHN, Auckland DAWSON, WILLIAM, Wellington HOLDSHIP, GEORGE, Auckland KEEP, J. H., Auckland GARDNER, GUY H., New York. SoncnoßS : WHITAKER, RUSSELL, and BUDDLE, Bavki rs : BANK OF NEW ZEALAND. Slckui ary pio (cm : JAMES MACFARLANE. The Nb\v Zhalanu Irox and Steci. Company (Limiied), 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 G. H. Gardnei. The practicability of these patents having been fully proved by the works at present in operation at Onehunga, there remain but two points to be considered— viz., lhe cost cf manufacturing and the market for the product. THE COST. In estimating the comparative cost of manufacturing iron here and in England, there arc three items to be considered, viz, labour, coal and raw material. The raw materi.il is almost a nominal cost to us. The coal will cost no moic here than in England, for it is intended to use only gas tor all heating purposes in the works, which can be produced by means of gas generators from slack or anj brown coal at a far lower 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 h.^e to consider what advantage we possess to counterbalance this greater cost. 'lhcbe ad\antages consist (Ist) in situation, by which we save 10 per cent on the Homo cost which is absorbed in commission, insurance, exchange and interest, and outward lreight, as the freight from Auckland or Onehunga to different places in the Colony will be no more than the charges in England in bringing the iron from the mills by rail and cartage and shipping charges in London ; (2nd) 111 our process, by which we sa\c cost of fettling (or wrought iron sciap), winch in puddling from pig has to be put into the furnace, and the cost of making the pig and the waste of the same in puddling. This is a most impoitant item in our favour, and would be alone suflicient to counterbalance the greater cost ot labour, for by the patents undti which this company will work, the same result is obtained irom nonsand as is obtained fiom pig iron, thus saving the evpense of making the pig 'lhe difference in cost bct.vcen pig iron 111 England, suitable for making good bar iron, and the ironsand at Onehunga being fully 3ns per ton in our f.tvoui. If, then, we take the amount of saving which we htuo by our process and situation to counterbalance the greater cost ot wages in this Colon) , we li.no — Ist— lo per cent on the Home cost— say £1 .. 14s 2nc'—Sd\ ing in fi eight . 2ns tfrd— Sa\ ing ol fettling 3i 4th— Saving of cost ot making v the pig ... 35s sth— Saving of manufacturer profits .. 7s 84s The total cost of labour in manufacturing pig iron into finisk^d bars in England is under 35s per ton ; so that if the cost of labour here is e\cn as high as 00s there remains a large margin of proht. It is estimated that the total cost of the best finished bar iron at Onehunga will be undergo per ton, THE MARKET. lhe production of chuaj) iron opens so large a field of industry tli.it it is impossible to estimate the future of this trade. It is .in undoubted tact that bar iron can be made fiom ikons \\d morl cm aim \ nm irom \v\ oihlr ori.. lhe supply of raw Inatcll.ll is unlimited, and New Zealand should become one of the largest iron producing countries in the woild. lhe nnny branches of manufacture, of which cheap iron is the prune essential, will no doubt spring into life now that both iron and coal maj be obtained in New Zealand, and with the supply so will the demand mci case. The amount of iron imported into Australasia in 1832, was as follows :— Australia. New Zealand. Total. Tons. Tons. Bar Iron ... 44,500 9,250 53,750 Fencing Wire 40,000 0,500 49,500 Galvanised Iron 37.050 8,000 45,080 Pig Iron 24,500 4,000 28 500 Plate Iron ... 9,250 1,000 10,250 Wire Nails . . 0,750 2,750 9,500 Hoop Iron . . 3,750 850 4,000 Sheet lion ... 3,500 r 000 _ 4,100 Ihesc figures do not include Tasmania or West Australia lhe piescnt cost of South Staffordshire iron which is uimci sally used in these colonies, is £1 10s f. o. b , London, costing dcliverj in New Zealand about £9 100, which is one of the lowest puces for 111 my years, owing to the depression of the iron industries in England. Auckland iron at £&, f. o. b,, would thus keep out the imported iron, and leave a large profit to the manufactuiers. It is also proposed to manufacture the iron into a tew articles which are largely used, such as lent ing standards, fish-plates, raihvaj spikes, &c , on which a larger profit can be made. Fencing standards cost in the South Island about per ton, and are used to the extent of over JOOO tons per annum, and in other lines large quantities can be sold at better profits than can be made on bar iron. Fencing wire being protected by a dutj of £l per ton, and bva large cost of importing, offers a profitable field of industry, and it is proposed to add this line to the products of the companj as soon as the abo\c operations are at work The sing from the puddling furnaces, if it contains a sufficiently high percentage of iron, will be snieltcd in an ordinary blast furnace, and run into pig iron, thus utilising- all the waste products. Sjdncy and Melbourne will take a largo quantity of iron from us, as low freights arc easilj obtained to those colonies. It is expected that New Zealand iron can be sent to England and the United State-, at very piohtable prices, as the iron made from sand 111 the United States by this process is found to be of so superior a quality for making high-priced steel, that ihe whole of it is consumed bj- that branch of industrj', and the price paid would Veld us a large piofit. India, Chini, Japan and San Fiancisco open fields for exportation, which we may shortly hope to compete for, as our location is most favourable for them as a basis of supplies, and at certain seasons of the j ear freight can be had at a merely nominal rate , and a speed) enlargement of the works, as the requirements of the trade may demand, is pro\idcd for in the 28,000 unallotted shares. These shares when allotted, will be offered to the stockholders at p it in proportion to the shares held. 1 his Ccmpanj' will take over the concessions obtained by Messrs Chambers and Gardner, consisting of 1000 acres ot land, and tour miles of foreshore on the North Head and two mi cs of foreshore on the South Head of Manakau Harbour, ar.d three miles of foreshore at f aranaki, which will supply all the irons md necessary for miny years to come. No othei place on the West Coast offers such facilities for cheap coal and ready tiansportation of the finished product as Onehunga, as from its location we can ship from cither the E.ist or the West Coasts, and from the North Head the sand Can be put into barges at anj state of the tide or weather, without going outside the Heads, and brought to our own wharf. These considerations make these concessions particularly valuable, while the lease at Taranaki Mill be available tor the manufacture of chaicoal iion^ 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. lhe patents owned by Messrs Chambers and Gardner are so essential to the manufacture of iron by the direct process, that it is impossible to manufacture iron from ironsand in pavible quantities without them, thus securing to the company a virtual monopoly. Of the first allotment of shares Messrs Chambers and Gardner will receive for their New Zealand patents 3000 shares paid-up to £i, and in future allotments of shares up to 40,000 in all, 25 per cent of such allotments paid up to £i. 0000 shares are at present offered to the public, payable as follows :— los on application, 103 on allotment, and 20a at intervals of 3, C, and 9 months, the remaining 20s at an interval of not Jess than three months after the last call ; but it is not anticipated that it will be necessary to call up more than £i per share. In view of the many ad\antages which we possess— a large and constantly growing market at our doois, and scpaiated 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.

BOOKBINDING AND ACCOUNT BOOK FACTORY, Victoria-street West, Auckland. O. OoOPER Hereby informs the Waikato public that Ledgers, Cash and Day Books are ruled and bound to order ; Music, Scrap and Fern Books, Albums, and Portfolios are made, repaired and bound in a superior style at the above address. THE BILLIARD ROOM and TABLE at the Royal Hotel having lately undergone a thorough overhaul, and the services of an experienced marker having been obtained, oustomers will not fail to appreciate the eh.an.ge,