DEVELOPMENT OF MINERAL RESOURCES.

Press, Volume LVII, Issue 17320, 5 December 1921, Page 8

DEVELOPMENT OF MINERAL RESOURCES.

POTENTIALITIES IN HEW gT.AT.A-NT> (moil OCK OWN CORKESPOJfDEKT.) LOXDOX, October 25. By the Niagara, from Vancouver, Mr J. Oats Matthews is returning to J*'ew Zealand on a business visit of possibly a year's dux&tion, after a considerable absence. For some time he iaa been in Kigeria. Mr Matthews has been appointed engineer and \manager for the Anglo-Scottish Finance Coxporati-n, Ltd., of Kluon Buildings, Lon* don, and it is in that capacity that lie i 3 going out to report upon tlio possibilities, iiis corporation deeming it desirable that til© mineral resources oi tne Empire should oe developed in preference to tne mineral resources ol ioveign countries. I'ho du-tci-ors ot the Anglo-Scottish Finance Corpoiation (c.ip.*ul £oO,GOJ, iu -i).;,0U0 shares cf IDs ea<cii) ate: —Aics&i's J. Macitay Hucy, C. Kceve Llewhirst, i. J. Berryhill Cross, and K. Fortc«cue D.ilyety; and, referring to Kew Zealand as the principal field of the company's operations at the present time, they consider themselves fortunate in securing the Eerviccs oi iir Matthews, who has had some years oi experience in the mineral areas of the Dominion, and whose reputation in practical mining tiicica there ranks very high. They have obtained a report and survey from him during a short visit to £ng~ land, giving r. resume of past development and futuie prospects of tha mineral wealth of the Dominion. T'no company's particular objects are thus set out:—(a) The careful selection of mining and commercial propositions; (b the direct control of pioneering operations by expert staffs of proved experience; (cj the bringing of propositions to production stage by tho provision of woiking capital; (d) the organisation of companies for tiie purpose cf acquiring and working such properties, including the underwriting or placing of the shares or debentures. In an attractively illustrated booklet, Mr Matthews describes the natential mineral wealth of New Zealand as beyond the dreamfi of avarice, the Dominion now embarking on a large and progressive policy qf development. He says that tho economic place of mining in ths history of Kew Zealand is a large one. In that country almost ©very k-iown variety of mineral has been discovered. "The real interest in New Zealand mining is less in whr.t it has been or is, than in what it will be with the exoeption of railways and roads to the mineralised areas. "With these developments will coins a influx of population and a vapid increase in the production of minerals; much that is now unworked will be turned to profitable account, and hitherto unlieard-of gold and miners' fields will demonstrate to the possibilities for profitable investment. There are hundreds of, miles of mineralised oountiy in which no prospecting has yet been done; tiwro arc neglected fields \yhich, with systematic development, will yield a handsome return to those who undertake tho venture. The wido distribution of coal and lignite is a material aid to other industries, while the vast undeveloped gold and iion resources show their enormous value as an asset. There are many other minerals, such as copper, antimony, cinnabar, manganese, mica, and asbestos, while limestono is distributed over a wido area, and lithographic limestone occurs in tho Auckland district and on the West Coaat. Scheehte is now regularly exported from Ctago and Marlborough, fuller's earth and hematite paint from the Thames, while there is a variety of grinding and polishing materials in Otago and different parts of the Dominion. These and many other minerals, etill await the introduction of modern methods and some capital fcr their development; when these are forthcoming the yield of gold and other will receive Ml enormous impetus." * ' ' '__ . Mr Matthews, in his reference to the westland Province, whero a rich and extensive fi*ld is likely to develop, if scientifically exploited with energy, perseverance and capital, characterises the AVest Coast "as one of tho most interesting and extensive fields for research. It is rich in the possession of untold wealth, as evidenced by tho discoveries already made, and its output of gold. In places it is an unexplored portion of New Zealand, capable of absorbing an enormous population, and with ff°od chmatio conditions. '* .. ' . I The opinion is expressed that ' in no other part of the world has Nature been more generous with -mineral gifts than to £<6W Zealand . It is a notable fact'that. ! mines which have been abandoned m th® past—generally owing to want of have since been worked on progressive lines, remarkable results have been obtained, and without doubt there is room for vast investments of capital in. opening up hnstilyabandoned mines and the neglected mineralised areas of the Dominion. But whatever is done, let it be done with the., best of machinery science has applied to. mining, and expert practice,must be harnessed therewith for tHe- benefit of industry. ... It should be remembered that eome of the best paying mines in New Zealand have been worked ana discarded, and taken up again and wonted assiduously by some wealthier and more enterprising company, which has ultimately ! reaped richer rewards than those "ho first discovered and worked them. . . . Waihi has grown into a veritable trolden City " Mr Matthews describes the coal and iron deposits of New Zealand as '/an asset of incalculable worth," and he thinks that if the oil obtainable in the Gisborne district exists in large quantity, its fine guality would enable it to be refined with works of exceedingly inexpensive construction. New Zealand is so situated that she must obtain a largo share of the trade of the Southern Hemisphere in crude oil if she is prepared to supplyHhe demand." VAND SALES SOUTH &A2LAIA TOWNSHIP. v The leas© of several sections in the Soutih. Rakttia, township wis offered by auction last Thursday by tho Commissioner of Crown "Land® (Mr G. H. B-jllari), Mr A. W. Duncan being the salesman. The sections aro all in "block XIII., R«£aia Survey _ Distriot. Following 13 the result of tho auction: — Yearly Area. Rental. 1 Section, a. r. p. £&. <L Purchaser. 78' ..010 OIS 0 James Douglas 133,135 0 2 0 2 0 0 James Milne 177 .. 0 127 015 0 Walter. Street 418 .. 0 110 015 0 John Pye 417 .. 0 1 4 015 0 John Pye ({I • o 1 0 012 6 Robert Hoodie <66 ..0 1 0 115 0 Chas. Behinee 587 ..- 0 1 0 015 OW. R. Blaok 598, 6SB, GOO, 6012, . 610 ..1 2 0 2 0 0 Sarai Saunders 633, 689 ' 6&1 • 0 3 0 1 10.0 JM. Greygoose 721, 723, 725, 727 0... 830 1 00 L. Pluck No bid wa« received for sections 708-9, 711, 713, area la.; upcet price 16s. . The Commissioner of Crown Lands ia inj viting written tenders (closing at 4 p.m. on | the 22nd irast.) for the lease <*f reserves 610 and 1644, blook XIV.; Waitaki Survey District; area. 31 acres 2 roods; upset annual I rental £5; situated about a mile from Glenavy railway station. Tenders aro being invited also for the grazing rights for & term of two months of a farm at Rainclifi, near Pleasant Point, df 180 acres; tenders close on the 9th inst. On Saturday the New Zealand Loan and Mercantile Agency Company, Ltd., put up for auction twelve blocks of Mr P. w. Coop's Burnside property. Bidding was not very brisk, and only four lota were sold. Lot 1, comprising 22 acres, was sold at £OO per acre. Lot 7, of 26 acres, and Lot 8, of 16 acres, were sold at £io an acre to 3fr Boyds, who also purchased Lot 9, comprising 23 acres, at £BO an acre. THE PROPERTY MARKET Jones, McCrostie Company, Ltd., sold bj public auction in their land s&le zooms on Saturday, on account ol thS owner, the property situated at the corner of Fitzgerald avenue end Lichfield street, comprising shop and brick dwelling of aix rooma, with briok store attached, to Mr Kirfcy for £BIO. REDUCTION DT MEAT PRICES IN WELLINGTON. _ Reductions in retail meat prices in Wollington were made on Friday. Quotations we:—Beef—Fiflet, per lb, lid; rump steak, 8d; whole rump, 6d; sirloin beei, 6d; j.rime ribs, sd; rolled beef, 4d; steak beef in piece, 4Jd; gT*vy beef, 84; beef steak, id; fresh. brisket an boos, 2Jd; corned brisket on bone. 2£d; oorned round, 6d; oomed roll, id; shins, Id; less, clods, and. neok btef on bone, ljd. Mutton—ci3es, 84d; hindquarter with fi»£s, 4d; leg, sd; loin, 43; beet neok 4d; foreqnarter, 2Jd; shoulder, 4d; Eeci, neck said breast, 2d; flapa, M; chops €d; cutlets, Sd. Lamb—Hindquarter, "d; foro.iMirter, 6d; til; ioia, 7c. > ecj —Fillet, per lb, 6d; shoulder, 4d; loin, sa; ioreqiuirUr, 3d," outlets, 8&