A NEW INDUSTRY

Wanganui Chronicle, Volume LXXXII, Issue 19478, 24 December 1925, Page 11

A NEW INDUSTRY

TREATMENT OF COAL FOE BYPRODUCTS

An important proposal is afoot to for ma company in New Zealand for the treatment of coal for by-products; such as coke (for industrial and household purposes), prepared tar, benzol, (motor spirit), sulphate of ammonia, liquid and anhydrous ammonia, sheep dips and disinfectants, etc. The proposed company has option over a splendid coal area within a four miles of Westport, which is a suitable distributing port. The name of tho proposed company will bo The Coal By-Products Company of New Zealand, Ltd., and tho capital will bo £400.000 sterling, divided into 400,000 shares of £1 each. Of these, 150.000 shares are to be 8 per cent, cumulative preference shares, and 250,000 are to be ordinary shares. It is estimated that tho company will treat somewhere about 90,000 tons of coal annually, from which tho main byproduces are estimated as follows: — 67,000 tons of coke, 1.200 tons of sulphate of ammonia, 180.000 gallons of benzol, and 736,000 gallons of prepared tar. A conservative basis of the selling value of these products alono total £220,000 sterling. The cost of manufacturing is not expected to exceed £130.000, leaving a profit margin of £90,000.

Among tho gentlemen responsible for the promotion of the company arc such well-known names as tho Rt. Hon. Sir Joseph Ward. C. J. B. Norwood, Esq., "Mayor of Wellington, C. H. Hewlett, Esq., Christchurch. J. A. Redpath, jnr., Esq., Christchurch, B. B. Wood. Esq., Christchurch, Geo. Scott, Jnr., Esq., Christchurch, W. Cunningham. Esq.’ Christchurch, and Geo. L. Johnston, Esq., Dunedin. Tho project should prove an excellent proposition and full particulars of tho new company will be advertised in a few weeks’ time.