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The Pamphlet Collection of Sir Robert Stout: Volume 87

VII

VII.

Your Committee having regard to the necessity of large supplies at the Melbourne depot, and the large preliminary outlay on trucks, machinery, and other improved appliances, besides the great importance of starting with sufficient capital at the disposal of the Company, recommend that the capital of such Company should be £25,000. They are, however, of opinion that not more than half this amount need be called up before the Company becomes self-supporting.

In conclusion, your Committee would desire to express their great obligation for the cordial response to their enquiries, by so many professional men, and others, so well qualified to judge; eliciting so large an amount of valuable information respecting our stone industry. They desire specially to refer to the very satisfactory evidence which has been forthcoming as to the extreme durability of the stone itself, its great strength and other serviceable qualities, its great purity and beauty, and the extraordinary facility with which it can be wrought into the most elaborate designs. Its great economy, moreover, in the cost of workmanship as compared with all other stones whatever is very remarkable, it being 50 per cent, less on ordinary buildings, and in highly ornamented buildings shown to be only one-third of that requited in working other stones. If, moreover, it be borne in mind that so far as your Committee's enquiries have extended the price of Oamaru stone in Melbourne has hitherto been from 4s 6d to 5s per foot, and that any stone with which it would be brought into competition commands about the same price in the market, it will be sufficiently apparent that a large reduction in price, stimulating the demand and largely increasing the consumption, may be effected, and the undertaking nevertheless remain an exceedingly profitable one.

Your Committee are therefore clearly of opinion that a large and profitable trade awaits the formation of a Company, which will develope this valuable industry on a scale commensurate with its vast importance.

We have the honor to be, Worshipful Sir and Gentlemen,

Your Obedient Servants,

(Signed on behalf of the Committee)

J. K. Brown,

Convener. Oamaru,