Pukekaroro Quarries, Ltd

Te Aroha News, Volume XXXVII, Issue 5966, 20 August 1920, Page 3

Pukekaroro Quarries, Ltd

- A new Auckland enterprise of con- ' siderable interest is The Pukekarpro Quarries, Ltd„ the abridged prospectus of which company is being published in .this issue. The capital is "*tb be. £IOO,OOO, and 60,000 shares of £1 each, are now;, offered to the public. The provisional directors are Messrs J. B. Macfarlane, Robert Burns, and Ernest Yates, all of Auckland, anil Mr Arnaud McKellar, of Christchurch. The object of the company Is tp.acqulre a sub-lease for years -pf the-: trachyte areas of some*B2 acres situated at Pukekaroro, about four) miles from. Kaiwaka, on the North Auckland Main Trunk line. The property is known as Bald Rock, and it contains a practically inexhaustible deposit of stone in two formations—one being admirably suited for converting into road metal, the other being a handsome building stone. The contour of the deposits and surrounding land is said to be such that a working scheme by gravi-' tation can be provided. In close proximity are limestone deposits which' are also to be worked by the company, the limestpne being declared a quality that makes an admirable fertiliser. It is thei intention of the ’company to construct a branch railway line to conaect with the Main Trunk lipe at Kaiwaka. . The promoter's are to receive noconsideration (apart from a cash payment of £1259 ,to cover expenses incidental to obtaining the lease and option and survey of line), until such time as the ’company is actually pro-

during road metal, building . stone, " f bnd ground limestone, when a royally iwill be paid to them for stone removed from .the land. .. y Reports attached to the prospectus •s state that the estimated yearly output will be 60,000 cubic yards of mental, and 14,000 cubic feet of building and monumental stone, and on this basis an annual working profit pf £10,933 is anticipated; The pro- - moter's, however, confidently expect that before long the output will be double that of the estimate, at a comparatively small increased expense. Other reports deal with the quality and quantity of the stone deposits, and also with the. available and prospective markets for metal, building stone, and ground limestone. The complete prospectus may be obtained from the provisional directors of The Pukekaroro Quarries,Ltd , Auckland.