TEE ASBESTOS INDUSTRY IN NELSON.

Some six weeks ago it was announced that the New Zealand Asbestos Compau3 r had been floated in Chrisfcchurch with a capital of £50,000, for the purpose of working some asbestos deposits at the head of the Takaka River. Mr. W. Smart, who discovered the asbestos as long ago as 1800, has supplied particulars to the Nelson Mail. The deposits, which have been secured under mineral leases, are situated near the hoad of the Takaka River, at the junction of that river and Grecian Creek. The locality is four or live miles from the Table Land, and the distance from either Waitapu or Motueka is about 27 miles. When the asbestos was discovered by Mr. Smart there was no great demand for the material, but as it is becoming largely used and entering into the composition of so many articles of every-day use, the iibre is now worth from £10 to £25 a ton in England, whilst some of the best quality commands as much as £53 a ton. Samples have been sent to England and tested by Bell's Asbestos Company, the owners of the Canadian asbestos mines. M». Bell states that the iibre sent from here is the best he has ever seen, and he has expressed his willingness to sell out his Canadian interests and remove his manufacturing plant to New Zealand. Two German firms have also offered to take 5400 tons of the fibre yearly, whilst a French firm will also take all of a length of from five to 25 inilira&tres that can be supplied. Asbestos is now used as packing for steam pistons and cylinders, boiler coverings, fireproof safe linings, fire-escape ladders, as well as firemen's and ladies' dresses, &c. So great is the demand that there is now a dearth of , the material in some parts of the world. There is a large supply available on the company's lease, and the outcrop of one lode is 24 chains long and 70ft high. The fibre is easily worked by quarrying. A track has been cut from the head of the Takaka River to the mine, and a tram will be constructed to connect with the present tramway, running from Waitapu to East Takaka. Most of the company's snares, which were over*subscribecl for, are held in CUristchurcli*