NORTH AUCKLAND ENTERPRISE.

Timaru Herald, Issue 170297, 16 August 1920, Page 9

NORTH AUCKLAND ENTERPRISE.

PUKEKARORO QUARRIES, LTD. _ A new Auckland~cnterprisc of consideraTjTo interest is Tiis rukekaroro Quarries; .Ltd., tne aorragea prospectus of which, company is - ueing puDlisliea in tuns assue. j.*n& capixai is "to be £IOO,OOO, and 60,000 sriaTes or i"l eacn are now offered to the public. The provisional curectors are .Messrs J. B. Iviacrarlane, xtouefu JSuriis, »;v: Krnest rates, all of AucTfland", ami "Sir Arnaud McKellar, of Cliristchurch. The object of the company is to acquire a sub-lease for 97± years i f the trachyte stone-bearing areas of some 82 acres situated at Pukekaroro. about four miles from lvaiwaka, on tiie North Auckland Main Trunk lino. The property is known as Bald Rock, and it contains a practically inexhaustible deposit of stone in two foz'mations—one being admirably suited for converting into road metal, tho other being a handsome building stone. The contour of the deposits and surrounding land is said to be such that a working scheme by gravitation can be provided. In close proximity are limestone deposits -which are also to be worked by the company, the' limestone being declared a quality that makes an admirable fertiliser.

It is the intention of the company to construct a branch railway line to connect with ilie Slain Trunk line at Kaiwaka.

The promoters are to receive no consideration (apart from a cash payment of £1250 _ to cover expenses .incidental to obtaining the lease and option and survey of line), until such time as the company is actually producing road metal, building stone, and ground limestone, when a royalty will be paid to them, for stone removed from the land.

Reports attached to tho prospactus state that the estimated yearly output will bo 60,000 cubic yards of metal, and 14,000 cubic feet of building and monumental stone, and on this basis an annual working profit of -C10,933 is anticipated. The promoters, however, confidently expect that "before long the output wall 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 ho obtained from the provisional directors of The Pukekaroro Quarries, Ltd.,'" Auckland.