THE FLAX INDUSTRY.

Waikato Times, Volume 106, Issue 17837, 9 October 1929, Page 5

THE FLAX INDUSTRY.

OPERATIONS IN WAIKATO. 14,000 AORES AT GORPONTON. CAPITAL FROM LONDON. Mr C. L. Wilson, managing-direc-tor, at a luncheon given by Australian ami New Zealand Investments, Limited, yesterday, outlined the results of his negotiations in London for the investment of capital in the flax industry in New Zealand. The company which is being floated proposes operating in the Waikato with 14,000 acres of land in the Gordonton district. Mr Wilson reported that he had been successful in obtaining £500,000 capital for the venture in London. "It is expected that the company will eventually give employment to over 1000 men,” said Mr Wilson. "There are great possibilities for the industry in directions in which fibre is not at present a marketable commodity." On Mr Wilson’s return he visited Canada, with a view to seeing whether there was a potential market there for the disposal of New Zealand fibre. He believed the potential market there to be sufficient for a long time to come. Canada was at present obtaining its fibre from foreign countries. Mr Wilson stated that the industry needed co-ordination in the marketing of its products. If a way could be found for the exportation of production through one organisation it would mean a very great improvement. A good deal of attention had been given by the Government to the industry, and its help had been very beneficial. While an increase in output was required, an improvement in quality was also desirable. He was seriously considering taking steps to approach the Government for the rep Introduction of its previous offer of a bonus for the improvement of machinery.