PARAPARA IRON ORE.

Timaru Herald, Volume XCVIII, Issue 15160, 2 October 1913, Page 5

PARAPARA IRON ORE.

NO STATE INDUSTRY.

(Feom Our Special Correspondent.) WELLINGTON, Oct. 1. 3he Prime Minister was asked to-day by" the Hon. R. McKenzie (Motueka) whether the, Government intends to submit any proposals to Parliament this session for the development of the Parapara iron deposits, either as a State enterprise or by offering reasonable inducements to private enterprise to undertake the manufacture: of iron and steel in the Dominion. \ Mr Massey replied as follows:—"So far. private enterprise- has failed to submit to the Government any scheme for developing this deposit which could possibly be entertained. _ The Government have no present intentions to Bubmit proposals to Parliament enabling them to work the Parapara iroji deposits as a State enterprise." Mr McKenzie referred to the recent appointment by the Government of a committee of experts to visit ParaparA, and to report on the subject. He urged that the Government should take the House into its confidence and frankly state what it intended to do in regard to these deposits, and especially in regard to the proposals submitted by the Elthelburga syndicate. v

Mr C. A. Wilkinson (Egmont) said that the proposals submitted by the Elthelburga syndicate Tequired . very oareful scrutiny. The country was asked to guarantee the interest on a very lagre sum of money. The promoters of the scheme proposed under thf>,t_ Kuaraniee to unload shares on British public and make a large profit for themselves. He hoped that members of the House would watch this matter very carefully.