THE LITHGOW IRONWORKS

Otago Witness, Issue 2804, 11 December 1907, Page 27

THE LITHGOW IRONWORKS

DEPUTATION TO THE PREMIER. A SYMPATHETIC REPLY. SYDNEY, December 6. The board of directors of the bank interested in the Lithgow ironworks will today consider the action of Parliament in giving the Government priority in connection with the proposed advance *of £70,000. The bank holds £200,000 worth of securities -on its debt, and under these circumstances it is expected that the bank will reject the proposals of Parliament. December 7. The Commercial Banking Company has informed Mr Sandford that the bank could not agree to the Government's terms for the proposed advance to the Lithgow ironworks. In the Assembly, in reply to a statement that the bank had decided to close down on the ironworks and appeal to the Government to devise means to keep the works going, Mr Wade (the Premier) 6tatcd that they had no official information on the matter, and the Government could not say what further steps would be taken, but it was prepared to make efforts to prevent a dislocation of the industry. December 8. The latest development in connection with the Lithgow ironworks is that a notice was posted to-day that all departments of the works, with the exception of the blast furnaces and the iron mine at Carcoar, will be closed down tomorrow. This will throw idle 1750 men, and will directly and indirectly affect 3000. A deputation representative of all classes at Lithgow will wait on the Premier to-morrow to urge the Government to take steps to prevent the disasta? threatening the town by the stoppage of the works. December 9. The Commercial Banking Company has officially informed the Premier that the bank could not accept Parliament's terms for advancing money to the Lithgow ironworks. Mr Sandford also wrote to Mr

Wade that the baric called upon him f« pay the full amount of the overdraft. An I officer of the bank takes possession to-day. ' The whole of the -works except the blast furnaces will be closed. There is great anxiety at Lithgow, as practically the whole town is dependent on the works. It hoped the Government and Parliament will come to the rescue to prevent the works closing. A deputation, representative of the whole interests of Lithgow district, interviewed the Premier to-day to d«k the Government to use its efforts in evolving < a scheme to prevent the closing of the ironworks. The ' deputation urged the importance of conserving a national industry %nd the disaster threatening the> distriot and a large body of workers. -Mr Wade said he realised the serious effect upon the State which the closing of the works would have. The Government was fully in sympathy with the deputation, but it requited time and anxious thouffbt to see a wit out of + he wood. He hoped that in a few days some>j thing Tvould evolve to save the industry and place it upon a lasting footing.