BIG TIMBER MOVE
£400,000 FLOTATION QUESTION IN HOUSE (Tfl£ SUN'S Parliamentary Reporterj PARLIAMENT BLDGS., Friday. Mr. F. Langstone (Waimarino) has given notice to ask the Prime Minister (the Right Hon. Sir Joseph Ward) what steps he proposes to take to safeguard the interests of the Crown, the natives, and the public of the Dominion in connection with a large timber block in the King Country known as the Tonga riro timber area. In a note Mr. Langstone said that the prospectus of a company which it is proposed to float in connection with the exploitation of the area provides for the introduction of a cash capital of £400,000 and states that estimated profits from royalties and transport charges in connection with the area total £2,294,750.
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Bibliographic details
Sun (Auckland), Volume III, Issue 750, 24 August 1929, Page 13
Word Count
125BIG TIMBER MOVE Sun (Auckland), Volume III, Issue 750, 24 August 1929, Page 13
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