TARANAKI IRONSAND.

New Zealand Herald, Volume XLV, Issue 13781, 20 June 1908, Page 6

TARANAKI IRONSAND.

[BY TELEGRAPH.PRESS ASSOCIATION".] New Plymouth, Friday. At the Harbour Board meeting to-day the following letter was received from the Public Trustee- and the executors of the late Sir A. J. Cadman: — We regret to have to again request the extension of the leases of ironsand on the foreshore at New Plymouth, and in doing so would mention that wo hud every reason to believe that tho company was floated in Loudon, and the amount due to us was to be paid about the middle of November last, and the works commenced at once, but, unfortunately, a big slump in the English and American money markets occurred, and knocked all arrangements on the head. We now have a New Zealand syndicate arranging to tako tho matter up, and pay a heavy deposit as a guarantee of bona tides. An extension of the term for compliance with the provisions of tho lease to, say,. January 1 next, would, wo feel sure, expedite tho business. We have spent many thousands of pounds, of which your Board lias had a share, in endeavouring to promote the iron industry in New Zealand, and wo would therefore'ask tho Board to meet us m this matter once more. If necessary, we could satisfy the Board that we do not wish to make* anything out of the investors, as our terms are very reasonable. We desire to see the industry established, and will be satisfied to get our money returned." The chairman explained that since last meeting several tons of sand had been sent to England, through Mr. Burgess, of Ngaire, for experiment. It was decided to accede to tho request. A small shipment of ironsand, consisting of 96 sacks, is being sent to England by the Turakina by Mr. Newton King, of New Plymouth.