THE IRONS AND PROJECT.

New Zealand Mail, 22 January 1902, Page 15

THE IRONS AND PROJECT.

Our London correspondent, writinw oil 13th December, says:—l am glad to bo able to report at last that Messrs Cadman and Smith have made final and definite arrangements with a leading London firm to float a private company to develop the iron and steel industry of New Zealand, with a capital of £500,000 of which £250,000 will be working capital. There will be a reservo fund, and the balance of the capital will be used in acquiring the concessions and in tho expenses connected with the erection of extensive works. As there are a few details in connection with the concession that require arrangement on the spot, Mr Cadman will return with Mr Smith by the Karamea on 19th, and attend to these matters himself in the colony, returning, if required, to England in March to make final arrangements. Mr Smith is expecting to receive early next week from Sheffield some finished articles of cutlery made from Taranaki ironsand, in the shape of surgical instruments, amputating knives, razors and carvers, of which the manufacturers speak in high terms. A pair of carvers in a box of New Zealand ornamental woods is, I believe, destined for “King Richard” himself. The carvers are guaranteed to glide through even the meat supplied to the Newtown Park encampment.