(From Otago Daily Times, October 18, 1877.)

We referred lately to the project which has been set on foot in Oamaru for the establishment of a Stone Export Company, and we to-day publish in our advertising columns the prospectus. We understand the shares have been subscribed for liberally in Oamaru, and that steps are now being taken to place a moiety in Melbourne. Should this be successful, the Company will be at once able to commence operations on a considerable scale, and either acquire some of the chief quarries or enter into agreement with their owners and connect them with the shipping ports. We refer to the matter again, because it is one of considerable importance. It is quite possible the export of this beautiful stone may become one of great magnitude, second only in importance to the coal trade, which we all wish to see developed. Every new export means so much additional wealth to the colony, and brings with many collateral benefits in the way of a development of a shipping trade. We believe the demand for this stone will largely increase in our own colony, and that at every spot where it can be sent at moderate cost by rail it will be largely used. The internal trade and the export trade being developed together, should help each other, as it is a question of quarrying and handling large quantities of heavy material at a cheap rate, by means of suitable machinery. It is, therefore, of importance that the matter should be well managed, and we should like to see some of our leading men taking an interest in the matter, as they generally do when an important industry requires their attention. Many a good scheme is spoilt for want of good management at the outset; and while we heartily wish this new enterprise success, we hope the shrewd Oamaru men whose names appear in the Provisional Directorate will be able to associate with themselves some men of practical experience, both in Dunedin and Melbourne, so that there may be no costly experiments at the outset. As regards snipping facilities, the railways and their branches will do much to help, and we are informed that the wharfage requisite for shipping under the shelter of the breakwater at Oamaru is rapidly progressing towards completion; and that there are some transhipping facilities at Kakanui, though not as yet sufficient depth of water there for large vessels. Of a kindred character is another remarkably promising enterprise, which has been conducted through its preliminary stages by a few progressive Dunedin men; we refer to the slate quarries lately opened at Otepopo. We have recently had personal demonstration of the great superiority of the slate there produced. It exists, we are told, in immense quantities, capable of supplying not only New Zealand requirements, but Australian also. This applies to the finer qualities of slate used for various useful purposes, as well as to roofing slates. page 14 The two industries to which we have thus referred are so closely allied, and the shipping facilities required so similar in each case, that we should imagine the two might be very advantageously worked together. At all events they are both worthy of attention as probable sources of large profits in years to come.