Page 4 Advertisements Column 5

Waikato Times, Volume XX, Issue 1702, 2 June 1883, Page 4

Notices.

PROSPECTUS OF X-EW yEALAND TRON AND QTEbL /COMPANY (LiMirt-D.) CAPITAI £200,000. 40,000 SHARES OF £5 EACH. 12,000 SHARES 10 HE ALLOIED AT PREhENf.AND THE BALANCE 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.

Dirlciors : CL\RK, TAMES MtCOSH", Auckland SI ONE, CAPTAIN JAMES, Auckland MORRIN, IHO.MAS, Auckland C HAMMERS, JOHN, Auckland U VWSON, WILLIAM, AVellmjjton HOLDSHIP, GEORGE, Auckland KEEP, J- H , Auckland GARDNER, GUY H , New York. Soticuor.s : AVHU'AKER, RUSSELL, \\d HUDDLE, lUnki rs : BANK OF NEW ZEALAND. Si cri i \k\ pio tan : JAMES MACFARLANE. Tiih New Zkalanb Ikon and Sti.el Company (Limiiuu), is organised to manufacture Bar and Pig Iron and \\ ire from the iron sand deposits on the West Coast, by means of the patents owned by Messrs John Chambers and G H. Gardnci. . The practicability of these patents h«iving been fully proved by the works at present in operation at Onehunga, there rcmatn but tyro points to be considered- uz , the cost cf manufacturing and tho 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. . Ihe law material is almost a nominal cost to us. The co.il will cost no more here, than in England, for it is intended to use only gas for all heating purposes in the work"!, which can be produced by means of gas generators from slack or any brown coal at a far lower cost than the same amount of he.it can be obtained from burmnp co.il. Labour is then the only item which will cost more here than in England, and we ha\c to consider what advantage we possess to counterbalance this greater cost. .... 'lhcbc advantages oontist (Ist) in situation, by which we sa\c 10 per cent on the Home cost which is absorbed in commission, insurance, exchange and interest, and outward freight, 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 lail and outage and shipping charges in London ; (2nd) in our process, bj which we save cost of fettling (or wrought iron scrap), which 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. Ihis is a most important item in our lax 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 is obtained Irom iionsand as is obtained from pig iron, thus saving the expense of making the pig. Ihe difference in cost between pig iron in England, suitable for making good bar iron, asd the ironsand at Onehunga being fully 35s per ton in our favour. . If, then, we take the amount of saving which we have by our process and situation to counterbalance the greater cost of wages in this Colony, we have :—: — Ist— lo per cent on the Home cost— -say £7 .. 14s 2nd— Saving in freight 25s 3rd— baying of fettling . _ ; ... 3s 4th— Saving of» cost of making the pig ... 35s sth— Saving of manufacturer' profits ... 7s

84s The total cost of labour in manufacturing pig iron into finiskcd bars in England is under 35s per ton , so th.it if the cost ot labour here is even as high as 60s there remains a large margin of proht. It is estimated that the total cost of the best finished bar iron at Onehunga will be under £6 per ton. THE MARKET. The production of cheap iron opens so large a field ot industry th it it is impossible to estimate the futuie of this trade. It is un undoubted fact that bar iron can be made fiom irons \.nd mori. CHI APIV. IH\\ IROVI A\\ OlHl U ORL Ihe supply of raw matenal is unlimited, and New Zealand should become one of the largest iron producing countries m the woild. 'Ihe many branches of manufactuie, of which cheap iron is the prime essential, will no doubt spi ing into hie now that both iron and coal may be obtained in New Zealand, and with the supplyso will tho demand increase. The amount of iron imported into Australasia in 1882, 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 37,030 8,000 45 080 Pig Iron ... 24,500 4,000 28,500 Plate Iron ... 9,250 1,000 10,250 Wire Nails ... 6,750 2,750 9,500 Hoop Iron ... 3,750 850 4,600 Sheet Iron .. 3,500 000 4,100 These- figures do not include Tasmania or AVest Australia.

'Ihe present cost of South Staffordshire iron which is universally used in these colonies, is £1 10-. i. o. b , London, costing delivery in New Zealand about £9 10c, which is one ot the lowest prices for many 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 manufacturers. It is also proposed to manulacture the iron into a few articles which are largely used, such as feii( ing standards, fish-plates, railway spikes, &c, on which a largci profit can be made. Fencing standards cost in the South Island about ;£ll per ton, and are used to the extent ot over 3000 tons per annum, and in othei lines large quantities can be sold at better profits than can bq made on bar iron. Fencing wire being protected by a duty of £1 per ton, and by a large cost of importing, ofivrs a profitable field of industry, and it is proposed to add this line to the products of the company a1?a 1 ? soon as the above operations are at work The slag from the puddling furnaces, if it contains a sufficiently high percentage of iron, will be smelted in an ordinary blast furnace, and run into pig iron, thus utilising all the waste products. Sydney and Melbourne will take a large quantity of iron from us, as_ low freights are easily obtained to those colonies. It is expected that New Zealand iron can be sent to England and the United States at very profitable pi ices, as the iron made from sand in the United States by this process is found to be of so superior a quality for making high-priced steel, that the whole of it is consumed by that branch of industry, and the price paid would yield us a large profit. India, Chini, Japan and San Francisco 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 year freight can be had at a merely nominal rate ; and a sprcdy enlargement of the works, as the requirements of the trade may demand, is piovtded for in the 28,000 unallotted shares. Ihese shares when allotted, will be offered to the stockholders at par in proportion to the shares held. '1 his Company will take over the concessions obtained by Messrs Chambers and Gardner, consisting of 1000 acres ot land, and four miles ot foreshore on the North Head and two mi es of foreshore on the South Head of Manakau Harbour, and three miles of foreshore at Taranaki, which will supply all the irons md necessary for m.my years to come. No other place on the West Coast offers such facilities for cheap coal and ready transportation of the finished product as Onehunga, as from its location we can ship from either the East or the AVest Coasts, and from the North Head the sand can be put into barges at any 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 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. 'Ihe patents owned by Messrs Chambers and Gaidner are so essential to the manufacture of iron bv the direct process, that it Is Impossible to manufacture iron from Ironsand in pay-ible 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 £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 tho public, payable as follows :— XOs on application, lOs on allotment, and 20s 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 practic«lly 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. T)OOKBINDING AND ACCOUNT J3 BOOK FACTORY, Victoria-street West, Auckland. O. Cooper Hereby informs the Waikato public that Ledgers, Cish and Day Books are ruled and bound to order; Music, Pcrap and Fern Books, Albums, and Portfolios aie made, repaired and bound in a supeiior style at the sbo.'e address. rp HE "BILLIARD ROOM aud TABLE JL at the Roy.il Hotel having lately undergone a thorough ovcr'ianl, ami the services of an experienced muker having been obtained, customers will not fail ,ta appreciate the Pha»£«.