TARANKI IRONSAND.

Otago Daily Times, Issue 14245, 20 June 1908, Page 10

TARANKI IRONSAND.

EXTENSION OF LEASES WANTED. (Per United Press Association.) NEW PLYMOFTH, June 19. At tlie Harbour Hoard meeting to-day the following letter was received from tho Public Trustee and the executors of the late Sir A. J. Cadman:—" We regret to have to ago in request an extension of the lenses ot the ironsand on tlie foreshore at New Plymouth, and, in doing so, would mention that we, had every reason U> believe that the company was floated in, London, and the amount due to us wan to bo paid about the'middle of November last, and the works commenced at once, but, unfortunately, tho big , slump in the English sunt American money markets occurred, and knocked all arrangements on the head. We now Jiavo a New Zealand syndicate arranging to take the matter up and pay a. heavy deposit as a guarantee of bona fides.' An extension of term for compliance with the provisions of the lease to, say, January Ist next, would, we feel sure, expedite the business. Wo have spent many thousands of pounds, of which your board has had a share, in endeavouring to promote tile iron industry in New Zealand, and we would therefore i;sk the board to meet us in tho 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. Wo desire to see the industry established, and will be satisfied to get. our money relumed." The chairman explained that since (he last meeting several Urns of sand had I.e-sn sent to England through Mr Burgess, of Ngairo, for experiment. II was decided to accede to the request.,