Proposes to Develop Labrador Shell Deposits
Northern Products Co., which has been granted exclusive right to the export of marine shells from the coast of Labrador by the Newfoundland government, effective July 31, 1931, is considering shipments of shell to Newfoundland during the coming season in steamers with a capacity of 3,500 to 5,000 tons. Shell will be processed, and sacked at St. John's for shipment to foreign markets.
Some $100,000 has been spent to date on exploitation of markets, it is reported, and the company is now in a position to operate the deposits on the Labrador coast on a large scale. The marine shell industry is one of the chief industries in Florida and there is an annual world demand of some 1,000,000 tons of which the United States takes 400,000 tons. Development work undertaken by Northern Products Co. has been done by local capital.
— Financial Post, June 18, 1931