SUPPLY ASSURED.

Auckland Star, Volume LXVII, Issue 113, 14 May 1936, Page 20

SUPPLY ASSURED.

TAUPIRI COAL MINES. TO LAST OVER 100 YEARS. PROBLEM OF SLACK. "The company lias ail assured coal supply for over 100 years ahead," said the Hon. E. W. Alison, chairman, at the annual meeting of shareholders of Taupiri Coal Mines, Ltd., yesterday afternoon 'at the Chamber of Commerce. In recommending a dividend of 5 per cent Mr. Alison said that providing price-cut-ting was not indulged in lie felt sure there would be many, more dividends ill future.' - s On seconding the motion to adopt the report and balance-sheet, Colonel W. D. Holgate remarked upon the much improved position compared with a year ago. The result of the operations of the Waikato Carbonisation Company, to which the chairman had referred, was rapidly proving that the company was justified in its undertaking, which had involved an expenditure of £100,000. To-day the company was producing a high-grade fuel which was becoming: more popular every day. The company was also producing oil which so far had a very ready sale. In addition, tho slack coal carbonised last year amounted | to over 20,000 tons, which otherwise would have been added to the tons dumped and wasted.

The over-protluction of slack, lie said, was 011 c of tlie most difficult problems, and one which he was pleased to see the present Government was somewhat concerned about. He considered that tlie difficulty could bo overcome by dumping unused slack in the Waaihi Lake at a position where close on 1,000,000 tons could bo dumped on 35 acres of land with an average depth of over 12ft of water. Close to tlie railway and tho power line the position was suitable for transferring the power plant from King's wharf, thus saving the cost of freight, should additional electricity be required over and above the supply from Arapuni. Tho system of keeping tlie supplies of coal under water was being used by the Chicago Power Board and the New York Power Board, two of the largest electrical plants producing electricity from coal. The cost of freight and dumping into the lake would be no more than it cost the companies now to dump slack which immediately caught (ire and was destroyed. Such a system would not only be a great saving to the companies, but would also prevent a national waste. Tho motion, recommending a dividend of o per cent, was carried. " The retiring directors. Colonel AV T . D. Ilolgnte and .Mr. A. .T. Parker, were reelected unopposed. On the motion of Mr. ,T. B. Paterson, a vote ot thanks was .accorded the directors office staff," heads of departments, mine officials and men at the mines.