LITHGOW IRONWORKS.

Timaru Herald, Volume XIC, Issue 13464, 10 December 1907, Page 5

LITHGOW IRONWORKS.

THE BANK TAKES. POSSESSION.

Prees Association-By Telegraph-Copyright SYDNEY, December 9.

.The Commercial Banking Company lias officially informed tlie Premier that the bank could not accept Parliament's terms for advancing money to the Lithgow ironworks. Mr, S-and'f ord! a'so wrote to Mr Wad's that the bank had called upon him to pay the full amount of the over-draft. An officer of tire bank takes possession to-day, and the whole 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-is hoped that Government and', Parliament will come to ths;rescue and prevent their closing.

THE PREMIER WAITED ON.

GOVERNMENT REQUIRE: TIME. Received 9.50 p.m., December. 9th. '..-'".. SYDNEY, /December 9. A deputation, representative of the whole 'interests of the Lithgow district, interviewed the Premier and asked that .the Government visa their efforts to evolve a scheme to prevent the closing of the ironworks. , The deputation urged the importance of conserving a national industry and averting the disaster threatening the district and a largo body of workers. ■ Mr Wade'(the' Premier) said that he realised the serious effect that the..closing of the works would have upon the State. The Government were fully in sympathy with the views of the deputation, but required timei fdr anxious thought to sea their way out of the wood. He-hoped..-tflxafc within'a few days something would bft evolved to save the industry, and place it upon a lasting footing. ■ . "'v.- - •, '-..' .. ' : - '.