THE TARANAKI IRONSAND.

New Zealand Herald, Volume XXXVIII, Issue 11625, 12 April 1901, Page 3 (Supplement)

THE TARANAKI IRONSAND.

Soiy: interesting speeches were made at the farewell banquet in New Plymouth to Mr. E. M. Smith, on March 27.

The Mayor (Mr. E. Dockrill) in proposing the toast of Mr. Smith, referred to Mr. Smith's mission to England, and wished him success in his endeavour to develop the mineral resources of Taranaki. The speaker traced Mr. Smith's labours in the direction of developing our resources, and said that Mr. Smith had fought against bad luck with indomitable perseverance and pluck which now has every prospect of being rewarded with success. When Mr. Smith had gone to London on a previous mission he believed that he would have succeeded had he not fallen into, what he might term, " bad hands." Now Mr. Smith was going to London under more favourable and auspicious circumstances, and with a worthy coadjutor, in the person of the Hon. A. J. Cadman ; and there was every reason to believe that capitalists would be induced to take the project up. Mr. Smith, in reply, reviewed Bis past efforts to develop the mineral resources of this district, and detailed all the smeltings of ironsand that had taken place in New Plymouth, and showed how mistakes had been made in the way the operations had been carried out. He went exhaustively into what he had done on his first mission to London, pointing out that he had proved conclusively to leading men that his system of smelting ironsand was a success. He explained how the business portion of the programme was spoiled by circumstances which would be avoided on this occasion. The Chairman proposed "Success to the Ironsand Venture," coupled with the name of Mr. Berry, who. he remarked, had been entrusted with the initial difficulties, which Mr. Berry had ably overcome. Mr. Berry, in reply, gave some, information as to what led up to the present venture. At the end of last session Mr. Cadman came to him and said that Mr. Smith had partly convinced him of the practicability of smelting the ironsand, but Mr. Cadman added that he would like to hear more from some other qualified person who was not so enthusiastic as Mr. Smith. He took Mr. Cadman in hand, and gave him information. One mile of beach was tested as to the quantity of sand, and an estimate of 3,000.000 tons was arrived at. Other information was supplied Mr. Cadm.™, and finally he and Mr. Bevy undertook the preliminary work, which", it was estimated, would cost £2000. Some ten miles of sea j beach had been leased, and other leases would also be obtained. Two coal mines anil other j rights had been got. In all they had some seven options. It was decided to put some j New Zealand money into the venture. If they failed in London, then they had Germany and America to try. Only that day j Mr. Smith had received a letter from j America inviting Mr. Cadman and himself to go to America, where, the writer stated, there was plenty of enterprise, and where capital would be no object. They, however, would try the London market first as arranged. They would not trouble brokers in the matter, but would endeavour to get four or five gentlemen to take up the project. He gave a few figures to show what employment such an industry would give. If the project succeeded in London lie had arranged with Mr. Cadman to have the necessary buildings erected straightway, and machinery would be sent out afterwards. He might 'say that the Government had nothing to do in the venture except that the Government had been liberal in the matter \ of. ] bonuses. The whole expense '-was being borne by himself and partners, whose names; he was not at liberty to mention, except Mr. Cadman's,;