IN LIQUIDATION
ONEKAKA . IRON COMPANY
(By Telegraph.—Press Association.)
NELSON, 80th March,
The decision of the Onekaka Iron and Steel Company to go into liquidation will -mean throwing 180 men out of employment and the loss of £50,000 a yoar in wages. The ■ directors are handing over immediately to the trustees for the debenture-holders.
Every effort has been made by the directors to obtain further financial assistance from tho Government, but without avail.
Tho company, after three years' preparation, started smelting iron for commercial purposes ■in January, 1924. Later the manufacture of pipes was added to the enterprise.
Those responsible for directing the affairs of the company have had an uphill fight, and much regret is felt that circumstances have compelled the directors to take the present action. - ••■.:
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https://paperspast.natlib.govt.nz/newspapers/EP19310331.2.83
Bibliographic details
Evening Post, Volume CXI, Issue 76, 31 March 1931, Page 11
Word Count
127IN LIQUIDATION Evening Post, Volume CXI, Issue 76, 31 March 1931, Page 11
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