COMMERCIAL

Greymouth Evening Star, 9 November 1929, Page 8

COMMERCIAL

COAL CARBONISATION. . (Special to' "Star.") 1 AUCKLAND, November 8. With the arrival of an engineer from England this week, the Waikato coal carbonisation project /has advanced another step toward realisation. The engineer, Mr D. G. Whitwell, representing Fuel Industries Ltd., of London, reached Auckland by the Aorangi on Sunday. He has since been in conference with the directors of Waikato Carbonisation Ltd., the company formed by four of the five Waikato Collieries to carry out the project. In a few days he will go to Rotowaro, where the plant is to be erected. Mr W. D. Holgate, chairman of the Waikato Carbonisation Ltd., stated yesterday that Mr Whitwell was concerned with the civil engineering side of the. scheme. His first task would be to prepare for and supervise the putting in of the foundations for the building for the plant. This work would be taken in hand as soon as possible. “We are advised that the first of the plant will be shipped from Europe about the end of February. The contract includes the supply of all the steelwork for the buildings, which will be fairly extensive. A German engineer representing the Metal Bank Company, will arrive about the same time to supervise the installation of the plant proper. Included in the scheme is an aerial ropeway for conveying slack coal to Rotowaro from the Pukemiro and Renown mines. The company is making inquiries in'Britain with a view to letting a contract for its installation. ’ ’

The four coal companies participating in the scheme are Taupixi Coal Mines Ltd., on whose property ; the plant will be built, the Pukemiro Coal Company, Renown Collieries Ltd., and Waipa Railway and Collieries Ltd. From slack coal of which about 150,000 tons is produced yearly in the Waikato, the carbonisation plant will extract light and heavy fuel oils, gas and other products, leaving a residue of high calorific value suitable for household and steam-raising purposes. After briquetting ,it will be possible to make profitable use of 80,000 tons of slack hitherto consumed yearly by the Auckland: Power Board’s steam generating station at the King’s Wharf, which will be superseded when a full supply of hydro electric power is available from Arapuni. AUSTRALIAN LOAN. LONDON, November 7. The “Daily Telegraph’s” city editor says: The announcement of an Australian internal loan is no surprise. There has been a good recovery of the Commonwealth Government stocks here, but this moment would hardly be opportune for the flotation "of a large Dominion loan. In this loan, the Federal authorities are wise in seeking the assistance of the Home market. ADELAIDE WOOL SALES ADELAIDE, November 8. There was excellent competition at to-day’s wool sales here. Prices were 12i per cent, higher than at last week. STOCKS AND SHARES. AUCKLAND, November 9. Sales reported: Grey Valley Coal 26/9, Bank of New Zealand 61/3.