Whangarei Coal Co. (Limited).

Auckland Star, Volume XVII, Issue 201, 27 August 1886, Page 2

Whangarei Coal Co. (Limited).

The following is the roport of tho directors of the above company, which was to bo laid before tho annual meeting to be held late this after noon :—The directors havo to roport tho salo or 11,587 tons coal since tho completion of tho railway. A large amount of permanent work has been done at the mine, inoluding tho erection of storage accommodation capable o holding from 500 to GOO tons of coal, at a cos of about £1.500. A number of miners' cottages have been erected and others repaired which are all let at fair rentals. Prospecting has proved that tho company's mine contains s large area of coal, which, as the works-progress towards tho dip, improves in quality. Tho company also had to construct a shunting station to the branch railway at a cost of about £500. This together with the other permanent works was an unlooked-for expenditure. During tho past few months your directors havo used every effort to induce the Government to recognise their just claims, by taking over the Company's railway, which is, undoubtedly, part and parcel ot the Whauwhau-Kamo lino, but tho whole cinestion (including four other lines) has been allowed to stand over until next session. Although the depression which is being felt in this Colony at the present timo is affecting many of the industries which consumed local coaU the directors have every hopo that with care and economy the next balance sheet will show a substantial dividend. The retiring directors. Messrs McLeod and Masefield, offer theuisch es for re-election. Mr J. King offers himself as a candidate for the vacant seat on the Board. Tho sharelir Mers will also have to elect the auditors for the ensuing year.—D. J. McLeod, Chairman.

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