BLACKBALL CO-OPERATIVE COMPANY'S CORRESPONDENCE.

Press, Volume XLVII, Issue 7552, 15 May 1890, Page 6

BLACKBALL CO-OPERATIVE COMPANY'S CORRESPONDENCE.

TO THB SDITOB Of TH- PRESS. Sir,—ln your issue of 2nd inst., which has just been brought under my notice, Mr Dombrain in a letter under the above heading makes the following statement and challenges a contradiction :-— "About May, 1888, Rosamond completed a terra of eighteen months, during which she had been under charter to Mr Martin Kennedy, of Greymouth. The rate of charter was £500 per month. The carrying capacity of Rosamond is 800 tons, she would' therefore carry 44,000 tons at a cost of £9000; that is a fraction over 4s Id, yet my Directors quote 5a per ton." ■ i - These questions are asked of "Investor," of whom I have no knowledge, but as my name is mentioned I feel* it is my duty to reply. . ' " '

1. My charter of Rosamond was for two years, which ended in October last. The charter money was largely in excess of £500 raouthly; she never discharged at Lyttelton 800 tons coal during my charter, probably the average would be under 725; she required over 60 tons for use and reserve; and three trips monthly is too high an average, considering the detention of weather, floods in rivers, heavy sea on bar, and unavoidable detention in landing in turn, and holidays, which are numerous. The coal she actually landed for twelve months ending October, 1888, was 27,000 tons, or 17,000 tons under Mr Dombrain's estimate.

I pass over the other remarks as to flooding Coalpitheath Mine, which was only a few days off, for it .appears to mc Mr Dombraiu's costs of coal is on a par with his assertions about the Rosamond's costs of coal carrying, which if correct I must have had a profit of £10,000 to £12,000 for the term of her charter. I only wish it were true.

In addition to the charter money being understated, there was also to pay all port charges, oils, waste, fuel, towage at Greymouth over £50 monthly, and general up keep of steamer and hired labor. Iα conclusion, I can say, on behalf of the Company I represent as Managing Director, that we are prepared to offer 150,000 tons freight to any Company willing to undertake the contract for any period of two to five years, at a rate largely in advance of 5s per ton. Our arrangements for present carrying offers no hindrance, as it will expire before the plant for doing our work <ould be in Australian waters.—Yours, &c, Martin Kennedy. Wellington, May 9th.