MANUFACTURING RUBBER

New Zealand Times, Volume XLIX, Issue 11221, 29 May 1922, Page 5

MANUFACTURING RUBBER

MORE ABOUT THE NEW Process. A REMARKABLE STORY. By Tpleerraph.—Press Assn.—Copyright. (Received May 28, 5.5 p.m.) MELBOURNE, May 27. A Melbourne man has invented’and perfected a new process for the manufacture of rubber of such importance that negotiations for its sale have so far realised £2,000,000. The essence of the process is the cheapening of th© cost of making rubber and the utilisation of old tyres and all kinds of discarded rubber to make new. The invention is not without its tragedy. The inventor, William Stocks, -did not live to reap the reward of his success’. Ho died some time ago from- heart failure after having started a factory in New Zealand. Small comSanies were formed in Melbourne and r ew Zealand to handle the invention, but later agents were sent to England and America to exploit it. Eventually they met Dr. Woodard, president of several rubber companies in America, and their object was accomplished. The Melbourne company and tho New Zealand option party receive in equal shares 10,000,000 dollars made up of 1,500,000 dollars cash aud 2,300,000 dollar© in shares in the American company, and also 1,000,000 dollars cash and 5,200,000 dollars in shares in subsequent companies to bo formed in other countries. In addition Australian agents arc in virtual control of the American company until the whole World’s rights are disposed of. The inventor’s share of the revenue received to date from the patents amounts to £20,000. ' His son, who is a son of liis first marriage, does not inherit a penny of tho fortune. Under a simple will it passes into the hands of Airs Stocks, who is living in New Zealand.

A story similar to the above was published m Wellington some months ago.