PARAPARA IRON FIELDS.

Gisborne Times, Volume XXV, Issue 2197, 28 September 1907, Page 2

PARAPARA IRON FIELDS.

BIG COMPANY TO BE FORMED. Press Association. WELLINGTON, Sept. 27. The Public Trustee informed a Post representative that the underwriting of the capital of the Parapara syndicate for developing the concession granted to the late Sir Alfred Cadman has been completed both in New Zealand and England. The flotation of the company on the market will be undertaken at the first favorable opportunity. The capital is £600,000. NEW PLYMOUTH, Sept. 27. With reference to the telegram from Wellington regarding Parapara, Mr. Berry informed a “Daily News” reporter that the wire was substantially correct. The amount floated in New Zealand was £IOO,000, which mis raised in record time, £37,000 being subscribed in one afternoon. English capital is all guaranteed, and flotation will be put in hand almost immediately. The modus operandi of the company is not yet settled, but Mr. Berry said that no doubt works bo established here as well (Spb.at 1 'ATapara, although the latter 'would probably get earlier attention. It is nearly seven years since the late Sir Alfred Old man and Mr. Berry too-k this matte;; in hand, and since that -time they have .spent thousands upon the venture, with, until recently, very little hope of success. It is regretted that +he late Sir A. Cadman and Mr. E. M. Smith did not .live to see the fruits of their labors, to which the latter devoted the best years of his life. . . . .