THE IRONSAND INDUSTRY

Taranaki Daily News, Volume LIII, Issue 242, 18 February 1911, Page 4

THE IRONSAND INDUSTRY

BRIGHT AND BUSINESS-LIKE PROSPECTS. SYNDICATE GUARANTEES DEVELOPMENT. DEPOSITS £2OOO AS GUARANTEE. A very important event in the history of attempts to develop the enormous deposits of ironsand on the beach at New Plymouth occurred yesterday, this step, showing that at last the prospect of an important colonial industry has uppealed to people who have the necessary capital to set the mutters in train, and there is now no reason to doubt that the initial steps towards the establishment of the industry will be taken beforevery long. Some years jigo the New Plymouth Harbor Board granted to a syndicate certain options over its foreshore, with> certain reservations near the root of tlm breakwater. This was known locally as the Cadman syndicate, the bestknown being the late Mr. A. J. Cadmau. (afterwards Sir Alfred), and Mr. D. Berry, of New Plymouth, with whom was associated Mr. E. M. Smith, at that time member for Tnranaki in the House of Representatives, and a mail' who gave the greater portion of hi*, lifetime and the very best of his talents im4 indomitable energies to the task ot proving that there was money in ironsand. Various attempts were made, notably by Mr. J. H. Witheford, to interest London financiers, and at one time hopes ran high, but nothing eventuated. The Public Trustee, acting in the estate of the late Sir Alfred Cadman,. has from time to time secured extensions of the leases or options, and a little over a year ago managed to interest a Christchurch syndicate, who undertook to float a company.

Accordingly, a representative of the syndicate and Mr. Poynton, the Public Trustee, waited on the Harbor Board, and secured a further, and it was then understood probably a final extension, for the Board found that there were others desirous of securing an opportunity to develop these deposits, but the' existence of the grants to the executors of Sir Alfred Cadman kept them "off the grass." The syndicate secured this extension until March 1011, and undertook to have certain development work carried out bv that time.

When the Premier- spoke at New Plymouth a week or two ago he stated that he had authentic information that work in connection with the ironsand industry would be started in New Plymouth within the year. So developments were eagerly awaited. At yesterday's meeting, the aforementioned firm offered to deposit with the Bonrd £2OOO to be forfeited to the Board if the development works were not well under way by 31st March, 1912, and to be refunded to the syndicate if work progresses satisfactorily. The Board accepted the offer, and granted* the application, the money having been deposited with the agent' of the Public Trustee in Christohureh. '

Seen last night by a News representative, Mr. D. Berry said the option* referred to the foreshore' from tho Tnpnae river to the Waiwakaiho river, with certain small reservations near theBreakwater to enable the Board to carry out the reclamation .works, and included also a block of Bome fifty ncreß at the root of the Breakwater round about the back of Paritutu. This latter place would be the site of the works which are to be established. Mr. Berry further stated that he'had been in communication with the syndicate and he knew that all arrangements had been made for a very rapid prosecution of the industry.