IRON INDUSTRY.

Press, Volume LXVI, Issue 20025, 5 September 1930, Page 12

IRON INDUSTRY.

PROGRESS AT ONAKAKA. ASSISTANCE JUSTIFIED. [THE PRESS Special Service.] "WELLINGTON, September 4. '•"What progress is the industry making?" asked the Leader of the Opposition, the Rt. Hon. J. G. Coates, when a return of the bounties paid in respect of the iron and steel industry was under consideration by tho House of Representatives this afternoon. "What is the outlook so far as the Government is concerned, and is the assistance 'liven to the Onakaka Irou Company justified." Mr E. J. Howard (Lab., Christcliurch iSonth) considered the House should bu given more details annually about the company, not from a point of view ot criticism, but from the view of the progress of the industry in tho Dominion. What was the difficulty that prevented the company from placing itself in order in that class of industry? Increased Output. "The gtiueral condition of tho industry is satisfactory," said tho Minister for Railways, the Hon, W. A. Vuitch. Although tho Onakaka Company had to face temporary financial difficulties, they were not serious. The company had increased its capital expenditure to increase its output, and incidentally the market. In carrying out this capital expenditure, the company had temporarily drained its financial resources. Tho Government had given, it temporary relief. There was every reason to hope that the company was now on the direct road to prosperity. "I am afraid wo are living on hope." said Mr M. J. Savage (Lab., Auckland West). "This is an industry that is gradually being put to death. We have mountains of iron ore i» New Zealand, but the Government seems content to bring ore from India irrespective of how it is produced, and leave our own national resources undeveloped. If the Government does not see fit to give a sufficient bounty to develop our natural resources, it ought to consider developing them itself. I don't see why the Stat© should not take up the development of the areas of iron ore. Tt seems tho onl> alternative to giving help to private enterpriw. The mountains of iron ore in New Zealand are not receivintr the attention tliey deserve. Practicably all the pig iron used in New Zealand was the output of the works. Increased quantitina of manufactured products ko> : nT turn"' 1 out.'' The Minister for Public Works, the Hon. W.' B. Taverner, remarked, that the Government was fullv alive to the need for assisting the industry.

Bounty Justified. The Leader of the Labour Party, Mr H. E. Holland, said the bounty paid to the company had justified itself. J. A. Young (R., Hamilton) considered it refreshing to know that the company was moving along satisfactorily. That not only applied to the production of pig-iron, but manufactured iron products. In his own town o£ Hamilton an order was recently placed for twelve-inch pipes manufactured by the company.

Mr D. G. Sullivan (Lab., Avon) asked for an assurance tbat the Government Would use the products of the works wherever possible.

"This side of the House prefers the bounty system to Customs protection, and is glad to see it has been done in this case," said MrC. Carr (Lab., Tiniaru).

A Hopeful Outlook. . The Minister for Mines, the Hon. A. J. Murdoch, Baid he had not bad an opportunity of visiting the. Onakaka works, and was not in a position to speak with a first-hand knowledge of the industry as it existed there. The statements presented to the Mines Department each month showed what the company was doing. The company had striven hard against adverse circumstances, and it was apparent that in its Boar future it would be in a prosperous condition. Samples of the iron had been sent abroad with a view to the use of iron from the works in the manufacture of motor-cars.. He believed that the iron would.prove satisfactory. SKIN SALE. H. Matson and Co. held their weekly skin and bag wool sale yesterday. The bench of buyers was not eo numerous as usual and bidding was dragging throughout. Prices showed a further decline of 2/1 on last week's rates, and several lota were passed at auction. The range o! values was: Merino, sound 6d, dead and damaged SJd to sd; pelts, sound 4id. damaged and faulty 2Jd; halfbrcd, sound 7Jd to 71d, dead and faulty 5Jd to 6Jd; crossbred, sound 5J to 6Jd, dead and damaged 4|d to s|d, threequarterbred, sound 6Jd; hoggets, sound SJd to 6Jd, dead and damaged ssd to 5Jd; lambs, sound 6d, dead and faulty 3Jd to sd, black Id, seedy skins Id to 3Jd. Country green skins: Merino Is 6d to Is 9d, dead halfbreds 2s 5d to 3s 6d, dead cfossbreds Is lid to Ss, dead hoggets 2s Id to 2s 3d, sound hoggets 2s 5d to 2s 7d. Country butcher skins: Crossbred 2s 3d to 5s 3d, three-quarterbreds 3s to fa Id, halfbreds 3s 6d to 5s 3d, hoggets 6s. Abattoir skins: Crossbreds 3a lid to 6s 3d, three-quarter* breds 3s 3d to 6s lOd, halfbreds 3s 7d to 6s lid.

Bag Wool: Dead 41(1 to 6Jd, three-quarter-bred oruts 3Jd to 5Jd, half bred cruts 3Jd to B{:A, halfbred pieces 4|d, crossbred cruts 2Jd to 4?, d.

CLEARING SALE. Jones, HcCrostie Co., Ltd., held a successful clearing sale in their rooms on Wednesday, when there was a large attendance. The following were amongst the prices' realised: Dining room suite £2l, 2 bedsteads £6, 2 bedsteads £6, chest of drawers £6 10s, Occ. table £2 10s, pair tapestry pictures £2 tfs, Singer sewing machine £lO 10s. gramophone ,£B, occ. chair £2, 3 occ. chairs £5 12s 6d, buffot £8 10s dining table £7 15s, 4 chairs £6, bedroom suite £2l, ditto £l3 10s, spirit stand £2, cabinet £2, 2 boxes of tea £4 7s, cupboard £2 ss, -ditto £3 10s, dnchesse pair £5, buffet £4 12s 6d, tea caddy 30s, tray £2 2s 6d, ditto 22s 6d, entree dish 85s, 9 spoons and 15 forks £7 ss, carpet £26, ditto £9 ss, ditto £8 15s, ditto £7, ditto £6 10s, rug £3 2s 6d, piano £ls, ditto £lB, pair of vases £1 12s. DAIRY PRODUCE. The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following cablegram from London, under date 3rd inst. Butter—Choicest salted, 126s to 1275. Chesc—White, 73s to 743; coloured, 76» to 78s; market slow, A BREWERY PROFIT. A net profit of £4112 is shown in the annual report and balance-sheet of C. L. lunes. Ltd., brewers, bottlers, etc., of Auckland and Hamilton. This work 3 out .at a shade over 13 per cent. . of the paid-up capital. The directors give little away in the balance-sheet and nolico to shareholders. Tbejte is no profit and loss account, or any indication as to whether the usual 8 per cent, dividend will be increased. The company has erected a new modern building at Hamilton and this will be opened nest wecli.