THE GOLDFIELPS.

Auckland Star, Volume XLII, Issue 176, 26 July 1911, Page 6

THE GOLDFIELPS.

TALISMAN SALES, WELLINGTON, this day. Talisman sales were reported to-day at 50/9. KAPANGA. The manager telegraphed this morning: "Water lowered beneath the chamber of 1000 feet level. Debrie has been cleaned out and a start made on the level,"

WAIOTAHI G.M. OOMPANY.

ANNUAL MEETING. The annual meeting of the Waiotahi G.M. Company was held at noon to-day in the Chamber of Commerce, Mr. C. Hudson being in the t'h».ir. The directors' report, which is as follows, was adopted on the motion of the chairman: "The operations at the mine are now confined to work below the No. 6 level, and it may 'be assumed that the future of the mine depends upon the result of developments at the low levels. The baJance brought forward from the previous year was f 13.2G0 8/2, to which has to be added the proceeds of gold, amount earned by public crushings, and interest amounting to £4740 18/3, making a total of £18,010 6/5. The disbursements have been: Cost of mining operations, including rates and taxes, £4982 2/4; sinking shaft and deep-level coste, £652 0/5; expenses outside mining, £339 5/; a total of £5973 7/9; leaving a balance of £12,036 18/8. The retiring directors are Dr. McDowell and Mr. Shaw, who, being available, offer themselves for Te-election. An auditor will have to be appointed for the ensuing year." The retiring directors, Dr. W. McDowell and Mr. H. Shaw, were re-elected, and Mr. W. W. Wallace Bruce was rcappointed auditor.

DEEP LEVEL CROSSCUT.

MEETING OF THE BOARD. PROGRESS TOO SLOW. NON-ACCEPTANCE OF LOWEST TENDER. The customary calm of the proceedings of the Board of Management for the Thames Deep Level Crosscut was ruffled this morning by a few pointed from a couple of members, which resulted in a brief but interesting discussion. There were present: Messrs. E. 11. Taylor, MJ 5 . (chairman), C. Hudson, H. Uilfillan, H. H. Adams, Graves Aicken, A. Bruce, and J. Kneebone. After the usual formal business had been transacted, Mr. Hudson said they had now been something like 16 months upon the crosscut, and had expended about £5000. They had raised amongst the companies interested £12,000, and wher that was spent they had a subsidy o: the £5000 to come from the Government. Therefore they had actually only £12,000 to complete the tunnel, RHd there was still about 20.00 feet to be driven. As the tunnel was only in 732 feet, at the present rate of progress, it would mean abou'b four years and nine months to complete the main tunnel alone. Suph slow progress was absolutely prejudicial to mining at Thames, and he hoped they would get along more rapidly in the future. It should be remembered that the companies at the northern end of the field practically got no benefit from the £5000 spent on unwatering the field to 1000 feet. The only company gaining from that -was the Slay Queen. He mentioned these facts so that the Board would uso the utmost economy according with speedy progress.

Mr. Bruce asked if Mr. Hudson had any suggestion to make. If they allowed £5 per foot for the 'tunnel, it would take £13.500 to complete it, and they had only JE 12,000 left to spend. Mr. Adams pointed out that in the first contra-ct there were only six men engaged, but now there were about double that number, so progress should be proportionately quicker in the ftAure. He quite agreed with Mr. Hudson that economy was required. Mr. Kneebone said that tfle Wftiotfthi, Victoria, and May Queen, all benefited from the deep level pumiping. • "Mr. Hudson said at tUe present time the permanent water level in the Waiotahi mine was 524 feet from the surface. They were -working 6 feet a;bove th*c. If the pump was only working to the 600 feet level it would be just as good for the Wajotahi Company. Mr Adams eaid they had an advisory committee at Thames, and he thought they should ba compensated. This was objected to by various members present, who pointed out that the members of the advisory were the paid servants of the respective companies. Reverting to the former discussion, the Chairman said he wished to point out that the companies only existed at Thames on the prospects of the deep levels, therefore tjiq pumping to 1000 feet benefited the whole of them. That alone was a great advantage to the cpmpany. The Board had a good air plant at work, and the tunnel shpuld progress more rapidly in the future. Mr. Hudson then referred to the fact that the lowest tender had not been accepted forg the continuation of the tunnel, and said that the Board had injured itself in the matter of future contracts. There was a feeMng that pressure from the Miners' Union had something to do •with it. Chairmaai: "I absolutely deny that. So far as. I am concerned the Miners' Union had nothing to do with it." Mr. Bruce: "They know jolly well better than to try it on mc." Chairman: "I simply decided as I did, because I wanted to get the -work gone on ivith as quickly as possible, and I am prepared tP accept the responsibility for what wii3 done." Mr. Adams: Siwe that matter has been raised I must say that had I been present at the last meeting I should havo voted for the lowest tenderer, especially when he was recommended by a man like Mr. Stansfleld. Mr. Knee-bone said he voted for the present -contractors because he thought the other price was too low for the work to be gone on with. Mr. Adams said there was no chance for new contractors if the old ones were to always get the preference. Mr. Kneebone: I think our action was absolutely justified. The Chairman ended the discussion }>y saying that there was no motion beforethe Board.