BOUGHT FOR AMERICA

Evening Post, Volume CIX, Issue 6, 8 January 1930, Page 11

BOUGHT FOR AMERICA

RAILWAY SCRAP IRON

(By Telegraph.) (Special to "The Evening Post.")

AUCKLAND, This Day.

One thousand tolls of scrap iron and junk which has been purchased from the Railway Department by Mr. H. Kirehenbaum as a speculation will be v shipped to America next month. -Mr. Kirehenbaum arrived in Auckland about four months ago, with a few suitcases packed with Continental currency, which represented" millions on paper provided some of the Continental Powers redeemed'itin due course, and since then he has been looking for likely speculations. Tho sight of much good iron and junk scattered round the railway landscape at Newmarket intrigued him, with the result that he made arrangements with the Railway Department to buy' up a thousand-ton lot. By cable, ho arranged with an American firm in San Francisco to buy it, with .the result that next month it will bo loaded into one of the Union Company's freighters at Auckland. "I go round and I sco iron lying everywhere," said Mr. Kirehenbaum, in relating how he came to make the deal with tho Railway. Department. "I cable to America and find that there is such a. big inarkot there that I could fill' up ten or fifteen ships with it. They want it to imake motoroars with, and perhaps they will sendtho motor-cars back to New Zealand." Mr. Kirehenbaum was pained ■to learn that in New Zealand the practice was to dump worn-out railway engines and much- scrap iron in fillings, and he thought that such useful stuff could be put good purpose here. • ,■ • . "Donf hide your money in the ground," ho added naively, as he showed his contract notes as proof that everything was signed in connection with the thousand-ton shipment. He is hopeful of the Railway Department being able to provide him with some future shipments. On tho subject of price Mr. Kirehenbaum preserved a discreet silence. It was gathered, however, that it was quite satisfactory as far as he personally was concerned.