The Scrap Market
p. 46 · Read in the full issue
Cash-in Now
Booms Again
A VERITABLE stream of old ships, often laden with scrap metal, have. made their way from Australia, New Zealand, and else where to the Japanese smelters in recent months. • >Scrap metal prices have risen and buyers are to be encountered every where. An Auckland firm in No vember arranged the purchase of a large consignment of scrap at Pago Pago, and there was a report from Suva that a Mr. Banno, of the Japanese firm of Banno Bros., which was established in Tonga and else where in pre-War II days, was in that city buying scrap metal. He later went on to Australia, where war-wrecks in Darwin Harbour were purchased.
Auckland metal merchants said that, generally speaking, it would not pay to send a ship to any Islands port for less than 500 tons of scrap, especially if it is a “no port” island. But if anyone has an old war dump at the back of his property now is the time to cash in on it. The Australian Govern ment has just brought in regula
tions restricting the flow from this country.
The smarter of the scrap hunters are said to be spending hours in public libraries looking up the history., of old Island wrecks, and to cheek on their cargoes.
Some wrecks might be worth
salvaging these days, with i high and modern equipment a able. As an example, one bla< a four-bladed phosphor bronze peller from the 50-year-old ) of the Maitai was reported i £4OO recently. (See page 71, issue).