THE TAIRUA MINING LEASES.

Auckland Star, Volume XXVII, Issue 106, 7 May 1896, Page 5

THE TAIRUA MINING LEASES.

LETTER TO THE CHAMBER OF

MINES.

A meeting of the Legal and Finance Committee of the Chamber ot Mines was called for thia afternoon. There were only four present ab the time of meeting, and ib was agreed to call a meeting of the whole Council for Monday morning ab 11 a.m. The meeting was called to consider a letter from Mr James Macky re the threatened cancelment by order of the Minister of Mines of a number of licenses of properties at Neavesvillo, Tairua, all of which, Mr Macky stated, were applied for in due form, and granted by the V. arden. Mr Macky concluded :—" It seems bo us the publication in London of the Minister's proposed action will have a most disastrous effect on the mining interests of the colony, and seriously retard the flotation of properties already in the markeb. Capital is proverbially shy, and if London financiers are led to suppose that licenses will be issued by our Government to work holdings, and after months or even years of actual work, may be suddenly called in, and cancelled on account of some supposed technical irregularities, then ib musb be apparent to any thinking person thab the security of tenure offered to English capitalists will be found of too precarious a nature to tempb any prudent investor. I trusb the gravity of the situation, in the interests of the mining community generally, will influence the members of your respected Chamber to take such steps as will avert this threatened calamity to the goldmining industry in New Zealand.