OIL AND IRON

Otago Witness, Issue 3293, 25 April 1917, Page 49

OIL AND IRON

POSSIBILITIES IN TARANAKI,

PROMISE OF GREAT INDUSTRIES.

"While at New Plymouth," said the Hon, G. W. Russell to a Posh interviewer, "i had an opportunity of going over the oil works, inspecting the harbour, and also visiting the Taranaki ironsand works. With regard to the oil at the Blenheim bore and too Taraki oil works, both bores are down well towards the 5000 ft level, at which, it is expected the final result will 'be achieved. Considering the naturo of the stratum, the managers are quite hopeful of success. While at the refinery I was able to examine the balance sheet for the last half-year of a shallow-well company in that locality. The bore showed an output for the six months of 41,000 gallons of oil. The gross returns were £IO7O, and the working expenses £450 As the original cost of the well was £6500, there is a good indication that, if other wells were established, and the same results were obtained (of which there is every reason to be confident), the proposition wotud be payable practically from the start and if three or more wells were established the refinery, which has just been built at a huge cost, would also pay well. Although the oil works at Moturoa, up to the present, have been disappointing, the examination I made leads me, ao a layman, to hold the opinion that they will work out satisfactorily, and a great industry will bo added to those we have at present." The Minister added that the keenest interest he felt in the district, was in connection with the ironsand works, which were now rapidly approaching completion. These had been erected on high ground near tho inside of one of the Sugar Loaves. The machinery was up to date in every way. and every possible test had been applied. At least £25,000 had been sunk in the venture, and in three or four weeks it was anticipated that there would be a trial run of the plant The natural supply would be an important element of the scheme, aa tho coal had to be powdered and mixed in the necessary quantities with tho ironsand. "The whole equipment." sa : d the Minister, "strikes me as having been carefully planned, and the managers are confident of success, although, naturally,, thev anticipate that there may b< some Httlo difficulty at tho start. When completed, this plant will bo capable of turn, ing out 10 tons of pig-iron per day If th<6 methods proposed are successful, there will ho no reason why there should not be a chain of similar works la : d down as far as Patca, and even Wanganui, as homnnd is found don? the entire coast, as well as on tho shores of Tasman Pay. at tho no/id # of which Nelson is located The possibilities, therefore, of the new industry for the dominion are huge. If the scheme is successful, it. will bo possible io manufacture pigiron at a price considerably below that being paid at the present time, and when freights are normal New Zealand will bo able to compete against the imported article. I have no hesitation in stating that, if Taranaki finds the scheme is successful. I will bo prepared to use my influence aa a public man to do mv best in ass : sting in the development of the iron industry, which is absolutely neces*arv to every form of industry and manufacture."