THE STEEL INDUSTRY

New Zealand Herald, Volume LXXIII, Issue 22464, 7 July 1936, Page 5

THE STEEL INDUSTRY

EXPANSION IN AUSTRALIA

BROKEN HILL PROPRIETARY

PORT KEMBLA DEVELOPMENT

Remarkable expansion in tho Australian iron and steel industry has taken place in the past few years. Associated with this growth lias been a marked increase in the industrial activities of the Broken Hill Proprietary Company, Limited, which now owns the ordinary capital in Australian Iron and Steel, Limited. Tho latest development is tho purchase by Australian Iron and Steel of 1600 acres of New South Wales Government land at Port Kembla. Great industrial utilisation is planned. New industries will be established by the Broken Hill Company, and Australian Iron and Steel, to supply the following:—Pig iron, galvanised iron sheets, tin-plate and tin containers, wirenetting and wire coke ovens, motor bodies and other steel products. Tho companies will spend £2,000,000 within three years, and employment will be given ultimately to thousands of men.

The wire-netting industry will bo established immediately, while the coke ovens will nlso bo put in hand without delay. At an early date a fully-equipped aerodrome, which will compare favourably with those in the capital cities, will bo constructed. In keeping with modern industrial development, * slips for seaplanes will also be laid down at Port Keinbla. The companies will cmploy, within a period of three months, an extra 1000 men, either directly or indirectly, working on the property, or making machinery to prepare the land for industrial purposes. It is proposed also to construct an inner harbour to give sea access to the steelworks. The whole area of 1600 acres will bo required within a few years for the establishment of steelworks and subsidiary industries. There will be a network of railways over the whole area. The Port Keinbla railway, it is understood, will traverse the company's extensive works when completed. In addition to the works mentioned, the firm of Lysaght's, Limited, will also spend £500,000 at Port Kembla, beginning operations at an early date. Adequate protection will be given to the existing electricity undertaking; the sea walls, on which three sets of railway lines are in existence; and also access to the wharfage system will be assured. It is stated that the Broken Hill Company has become cramped at Newcastle through lack of foresight in 1912 in not visualising the land required for the ultimate establishment of the industry in all its branches. DAIRYING YEAR ALBERTLAND PAYMENTS ADVANCE FOR JUNE AT 1/0* [from our own correspondent] WELLSFORD, Monday The directors of the Albertland Cooperative Dairy Company, Limited, in their 33rd annual report, state that 873 tons of butter were mgde during the season at the company's factory at Te Hana, an increase of 32 tons over the output of last season. Advance payments totalling £06,174 have been made and there is a balance of £12,861 available, a total of £79,035, compared with a total last season of £58,478. Final payments are to be made at the following rates: —September, Jd; October, Hd; November, 2d; December, 2d; January, 3d; February, 2d; March, 3d; April, 3d. The final payments for the months of September-December will be made on July 20, while that for the latter months will be made when realisations are received from London. These payments will bring the average net payment over all grades for the sei'son as a whole to 11 4-5(1 per lb. of butter-fat at farm gates. These final payments will not absorb the whole of the balance available, and, as the butter unsold has risen in value since the balance-sheet was made up, there will be further distribution or a carry-for-ward to next season's account.

The grading of butter for export showed an improvement over last season with an average this season of 93.73 per cent, compared with 93.55 per cent last season. The number of suppliers during the season increased from 292 to 295, and shareholders from 301 to 312. Tho cost of cream cartage was reduced from .52d to .42d per lb. of butter-fat, while the cost of making lib of butter fell from 1.07 d to I.OOd. There was an increase of £7410 in tho turnover of the trading department to £26,729. The profit made will enable a rebate of 4 per cent on certain purchases. More tlian twice the amount of manure was sold this season.

The company will make an advance payment on July 20 for cream supplied during Juno at the rate of Is OJd per lb. of butter-fat for superfine quality, with tho usual deductions for other grades and share capital.

KATIKATI COMPANY

INCREASED DISTRIBUTION

The output of butter by the Katikati Co-operative Dairy Company, Limited, Bay of Plenty, for the year ended May 31, was 726 tons, an increase of three tons over the previous season. The number of suppliers was 150, an, increase of 10. Conditions were not favourable for heavy production, the annual report j states. The quality of the output was well maintained. The accounts disclose a balance available of £6219. It is proposed to pay out on July 25 a dividend of 5 per cent on paid capital and a further payment of Id per lb. butter-lat for November and December supply; 2d for January and February; ljd for March; and Id for April. This will increase payments to Is per lb. butter-fat, which does not include cream carting. A balance of £269 is being carried forward until final sales are received, whei\ it is anticipated that tho final total payment for the season for finest grade, together with dividend and cream carting, will bo in the vicinity of 32ic 1 per lb. A total sum of £66,062 will have been distributed on July 25. which is £l-1,528 more than in tho previous season. MOTUROA OIL REPORT The following report for tho two months ended Juno 30 has been received from Moturoa Oilfields, Limited (Now Plymouth):—Motorua No. 1 Ave 11 produced 1690 Imperial gallons of crude* 011. Total production to date, 23,513 Imperial gallons. No. 2 well producod 14,613 Imperial gallons of crude oil. Total production to date, 761,920 Imperial gallons. No. 4 well produced 7125 Imperial gallons of crude oil. Total production to date, 115,798 Imperial gallons. QUOTATIONS FOR SILVER British Wireless RUGBY, July 4 Silver is quoted to-day at 19Jd an ounce spot and forward, compared with 19 3-8 d and 19 7-10 d yesterday.