PARAPARA LEASES.

Evening Post, Volume LXXVI, Issue 44, 20 August 1908, Page 4

PARAPARA LEASES.

WHAT IS THE COMPANY DOING?

QUESTIONS IN PARLIAMENT. Questions relating to the Parapara iron deposits caused some discussion in Parliament yesterday. Mr. Jennings aeked the Premier whether he would acquire the deposits for the State. He urged that the leases originally acquired by the late Sir A. Cadman and the lato Mr. E. M. Smith were practically of no use, so far as development of the field is concerned, as little work was being done on the property and great wealth was lying undeveloped. The 'Premier replied that the Government preferred that every effort for carrying out the work bj private enterprise should first be made, and if this should fail the question of taking up the industry as a State concern would be fully considered. Mr. R. JSl'Kenzie said the Government should gave the English speculators to understand that the lessees should develop the deposits and not allow them to remain idle. The Ministei (the Hon. Jas. M'Gowan) : The Government had not treated the company specially. The company had spent a great deal of money and had carried out the conditions imposed upon it. He did not want the idea to go abroad that British capital or any other capital invested in this country was in danger of being confiscated. If the company at present holding righi^- in connection with the deposits was unable to carry out the terms of its lease the time would come when it would be necessary for the Government to take strong action, but it would not be wise to do anything in that direction at the present time. Mr. Wilford : Hear, hear. Mr. R. M'Kenzie : They have had tsn years now. Mr. Wilford : Ten years' hard labour ! i The Minister went on to point out the amount of capital that would be required to run an industry of the kind, and referred to what had happened in the case of large iron works in Australia (the Lithgow works). Did the hon. member want the New Zealand Government to got into the position obtaining in respect of the works referred to at the present time? He was not one to recommend the Government going into doubtfu', efforts. There was plenty of money here or elsewhere to develop such a field. It . was work of a speculative character quite different to that of coalmining. There were works and enterprises which the Government could carry on as well and better than private individuals, especially where the well-being of the people was concerned.