Another Local Industry.

Progress, Volume XIV, Issue 8, 1 April 1919, Page 483

Another Local Industry.

Although in the past Palmerston North has not been regarded as a manufacturing centre, it is pleasing to note that a company is being floated here with the object of extracting by-products from the waste from our timber industries, and with the prospect of the supply of cheap power in the near future from the proposed hydro-electric scheme at Mangahao, there are possibilities that other industries may be developed in this district, which in the past has depended to a great extent on stock-raising and dairying for its support. The proposed company, which is to be known as the New Zealand Oil and Acid Extraction Company, Ltd., is being formed for the purposes of extracting from woods, trees and sawdust acetic acid, methyl alcohol, oxalic acid, acetone tar, potash, charcoal, oils'and other products,

In the past nearly all these products have had to be imported, but now that it has been demonstrated that they can be produced locally fiom the waste products from the sawmills, and from the millions of feet of timber which at the present time are put to no reproductive use, it should be a good thing both for the district and the Dominion. A prospectus has been issued for a company with a capital of £3OOO, divided into 600 £5 shares, and these are now offered to the public, who will doubtless readily avail themselves of the opportunity of adding another local industry to the credit of the Dominion.