MINING NEWS.

Press, Volume LVIII, Issue 11098, 17 October 1901, Page 3

MINING NEWS.

" In the annnaVreptftft'tobe submitted by the director* to the-'shareholders of the Maori Queen Company, regret-i& expreeeea that the dredge has not proved a dmctend-paying concern, bho has uridetibftcdly proved die claim to be rich enough .to pay wen, and the direc- ' tors feel confident tKat' she will do so when the alterations now being mads ate completed. A sufficient number of debentures' have been applied for,' and the work-is at present in band. As it is necessary to have an active representative on the West Coast, the directors have'nominated Mr Gardiner V. Wilson to fill one of the vacancies on the directorate. The amount of gold won daring the. period ending September 30th was valued at £902, and tne working expenses amounted* to. £>D 1 4s od. The credit balance- of ther profit and loss acccount is JE925 0s lid. ~: The Ihilce of Wellington, the Mp.jor Hobin, and the Lord Kelson Companies, wnose claims adjoin each other,on,the Grey river, propose to Jombme {or the purpose ot completing the dr&ge now 'being"built" for the hral-named company, .which ie to prospect eatfb. claim for a suggested period-of throe months. A roeotthg of the Major .Robin Company has been called for the 2oth instant, to coneiclcrthe conditions under which" the r.bove proposal i* to be gmm effect id. . ■ Our Dunedin correspondent . telegraphed last night that the master of the .Leviathan Company's dredgo reports:—"Reached old workings this morning. ... .Diodge working well." -- « ! CANTERBURY STOCK-EXCHANGE. i The following.are yesterda/fl quotations, subject to the usual brokerage;— > Al, sellers 39a pd. Ahattxa River, sellers 4s 63.pd. Builer Junction,'sellers 2s ed p. - ! Firet Chance, buyemos. Golden Gravel, sellers 15a pd. Giey Eivcr Extended, sellers par. MoKitika Kiyer, ectlere 18s ed ptt. Mokoia, buyer* 13s 6d pd, sellers, 16a pd. Kcd Jacks, buyers 22s pd. letetnakatt, sej.ers 4a ' j>a. ~ Three Mile Gieenatone, sellers 17s 6d pd. DTJNEDIN SHABB 3IARXET. (rRXSS ASSOCIATION TiXEURAIT.) OUiSKDIiS, October 16. Dunedin Stock Exchange sales:—Aipine, No. 11., 18s; Boundary Creek, preferential, Sβ; Gentle Annie, 9a 6d; Oibb'a Beach, &i 6d; Golden Kiver, 7e, 6s 9a, 6s 10j,d; Baflway House, Ss 3d, 8s 3d, 6s Ud, 7s 3d; Leaning Rock, Uα 6<l, 14s, 13s 3d, 13s 6d; Hirer toojyncux, 6s 3d; Sixteen Mile Beach, 2s, 2a JM, -2a 2d; Teviot, 6e 9d, 6s 3d. Otago Stack Exchange sate*:—Gold King, "3 3d;<;Juiiotlon Kiccrric, 26s 3d; Ktelly and Utasy, Sα 6d; Vincent intended, 1% WEST COAST NOTES. \ (BPKCI.VL TO "THE- PRXSS.") V GRBYMOU'I'JI, October 16. It rained hard , last night, and this forenoon it came clown in torrents, and is still raining. There is every appearance of floods in the livers, which win mean bad returns on Saturday. Tne J?actolu» Company's dredge hud a breakdown this morning, anil will stop work for the remainder of the week. It is doubtful if the Fed Jacks Company's dredge will wash up before next week. -Ihe machinery is working -.veil. The riorth' Beach Connnny's return will bo a little lesa than last week. Tho Princfe.of \V»ies- Company's plant ia expected, to arrive trora London in a iortmght. The directors, in the annunl report, say that they estimate that after getting the plant into complete working order, and after allowing for the charges at. present in view, the capital vriit be about £1000 short of completing end finally equipping. 'Ibis ahorUge the directors contetup.a;» meeting by the issue : of debentures. . ] A movement is about to be set on foot at Kumnra having for its object the raising of the necoesary capital to complete the Greenstone Company s dredge. It is suggested i that the prevent company should liquidate and I hand over its aes«U to a new cojppany, with < reduced capita.!, a portion of which will be' divided pro rsta in paid up shares among toe present shareholder?. DUNEDIN, October*l6. A scheme ie being laid before the shareholders in the Major Kobm Company io purchase an interest, along with the Lord Xelsori Company, ■ in the Duke of "Wellington Company's dredge. The suggestion is for the Duke of \Vellington Company to contribute £>QOO, the Major Kobin £1730, and the Ix>rd Nelson £750, basing the total coat of the dredge at £7500. The Duke of Wellington Company finds itwlf unable fo complete its dredge wilhout assistance. If the scheme cornea to a head the dredge Trill prospect 'all three claims in rotation. It is expected tKat the Xotown Creek Company's dredge will be ready for work by the first *«"•*' at next month.

OF DELEGATES. A conference of delegates of local bodies interested in the tramways was held last night at the City Council Chambers. There were present—His Worship the Mayor of Christchurch (in the chair), and Cr. Gray (City Council), Cγ. Edwards (New Brighton), Mayor of Linwood and Cr. Bean (Linwood), Crs. Jones and Hadfield (Sydenham), Mayor of Woolston and Cr. Hobson (Woolston), Mayor of Sumner and Cr. Maffey (Stunner), Mayor of Sfci Albans (St. Albans). The report, of the sub-committee was to the effect that the .system"of tramways should be held and worked by the City Council- . " ..'■" - '•■ I' :' ■■■': :•■ The»Mayor of Cliristchurch said that the resolution was carried in the sub-committee by one vote. Perhaps, as the resolution had. been carried by so small a majority, the question would have to be threshed out that evening. In. reply to the Mayor of Sumner, *- The Chairman said the voting u> the subcommittee was as follows:—Ayes—The Mayor of Chvistchurch, Or. Gray, Chairman of Selwyn County Council, and Or. Edwards unguuiß) ; noes—Mayors of- St. Albans and Woolston and Or. Jones. Cr. Gray moved the adoption of the report, and Cr. Edwards (New Brighton) seconded the motion. The Mayor of Summer said he was unable to be present at the meeting of the sub-com-mitteE. He was strongly ot opinion that the conduct of the trams being placed in tho hands of the City Council would not be in the interests of the public. The Mayor of St. Albans said that he had moved at the meeting of the sub-committee a resolution in favour-of a paid Tramway Board, to be elected by the ratepayers, the said Board to make inquiries as to the best mode of traction, and also to take charge of the working of the trams. That was lost by one vote. lse now moved as an amendment, "That in the opinion of this confer-enr-e a paid Tramway Board to represent the whole of the ratepayers interested should be appointed to make inquiries as to the best system of tramway traction suitable '-to the requirements of the Christchurch district, and that the said Board shall hold office for five years, and be empowered by the local bodies concerned to borrow a sufficientsum to instal a modern tramway service," He contended that the Councillors, being liable to removal in two years, would prevent continuity of action.' His proposal was to the effect that the trams should be run by an independent Board, and that the profits, if any, should be devoted to the extension of the tramways. The chances would-be that, if the City Council were allowed to run the trams they would find that the matter would be relegated to a small committee of p?rhaps four, who might be removed, two years afterwards. - He thought, therefore, that an. independent Board, elected for five years, would do N far better work' than oae local body:. The Mayor of Sumner seconded the amendment, and contended that the fatal stumbling block in connection with the proposal that the City Council should run toe trams was want of continuity. It would probably os that the City Council might try and make a revenue producing concern of it. H« thoughfc.the Council .would see that it. would be better to fall in jjvith the proposal of the other local bodies, and have a body of directors elected by all the -ratepayers interested, working the tramways for'-the benefit of all. He-gave the proposal of the Mayor of St. Albans his hearty support.' In reply to Bean, .. ' The Chairman,?aid that-they would require to get legislation to elect a Tramway •j.rust. ~ "•■;-

. Cr. Gray, objected to. the proposal for a tramway trust, as, the to be consulted would be far too cumbrous. Ag&ih, there was ho precedent for such a proposal, es he'did not know a.system esiiting anywhere else. The argument a<s to want of continuity did not affect the management of : gasworks, waterworks, etc., in cities where these were under municipal control. The Council dealing with these, would have to appoint a manager who. would report to the Committee Saving charge of the special .work. If the City Council had charge of. the trams they." would have to go to the various local bodies.for concessions, and probably it would be arranged as to the sharing of the profits with tiw local bodies. He. felt pertain that none of the' local bodies would agree to the City Council making a profit out of the tramways. If they, did not scon .arrive at an arrangement they ..would find that the end would come before they had dove. anvthmg,'.and they wo&d be left with the 'present unsatisfactory state of things. The Cliairman said , he felt sure the psople of Christchurch and surrounding districts would nevajr consent to hand over the control of the tramways to five' irresponsible persons without control of the powers they would exercise on money., they we aid spend. Cr. beonjilid that the hands of hie Worship the Mayor of Linwood and himself were tied because the Council had passed a resolution opposing the formation of it , tnunway trust. They had, theiefore, to vote against the amendment-. Or. 'Edwards supported the motion on the grourd that no argument had been brought forward to show that a trust would manage tik tramways better than the City Council elected* by yie ratepayers of Christcborch, He quite concurred in the remarks of the Chairman, that the public" would not agree'with t-h* handing over of the management of tramways for five years to an irresponsible body. If the ratepayers twere satisfied that the larger interests of tire city could be placed safely in the hands of the City Council then he felt sure that a small matter like the management of the tramways could well be left to them to deal with. Cγ. Hobson (Woolston) did not think it was fair that the City Council should rule the tramways for all time because, the suburbs were as much interested as the city itself, and, therefore, he thonght that tlisy should see that the tramways were managed by the representatives" of the people and not by one body, such ■ as the City Council. He should support the amendment because he believed in the representation of the people on the Board. Cr. Jones (Sydenham) said there were several points which should be considered. Hβ was in favour of. a body specially elected to deal with the tramways, and he was opposed to handing over the management of the tramways. Had the City Council shown such skill and wisdom in tne past that they should have the whole of the management of the tramways handed over to "them? Sydenham had been called a dog in the manger, but this ■wa« not the fact. As to .the abattoirs, Sydenham had been die first- to convene a* meeting, and had instigated the City Council to call the second one. Cr. Jones went on at some length to comment on the subject of the abattoirs and the Sydenham Borough Council, and also as to the Waimakariri scheme. He desired to point out that the City Council' was not a proper body to have handed over to it th» |<saters now 'asked for, judging from* its dealings with the local bodies in the past. Reference had been made to the expense of an election, but he thought that the expenditure of the money would be a good thing if they could get five good men to manage their tramway!!. An endeavour had been made to induce the boroughs to come in and support a greater Cbristchurch, but they declined to do so. This being so, would the boroughs be ready to hand over

the management of. the tramways in which they were interested to the city Council? He should tbeiefore be in favour of the amendment, bewuiSe he felt that -the proposals of the Mayor of 45t, Albans would ba far more is the interests of the public as a whole. , Or, Hadfield . (Sydenham) stated that while agi-eeing in the main with the amendment; tor which he should vote, he was not much enamoured of some of the proposals of the mover. The election of the members of "the Board would, he thought, be attended with difficulty, and he did net consider the proposal to elect them for tiva years would be a wise thing. He did not think th?re was much in the argument &hat the City Council could not manage the tramways because it was .a City Council, bnt they cou.'d not expect them to do so in the interests'-of 'the outside local bodies.* He was of opinion that a trust representarive of the various local bodies would be far better than one elected by the people as now proposed, but he felt that the management of the tramways by a body such as the trust now proposed would be preferable to handing, them over to the City Council. The Mayor of Linwood said that he would be in favour of the tramways being managed 'by a Board representing the whole of the local bodies interested as opposed to the vesting of the control in the City Council. The details would have to be settled afterwards. He should vote against the amendment of the Mayor of St. Albans because his Council had carried a resolution to that effect, but he should also vote against the resolution.

The amendment was then put and carried by seven to four, the delegates from Sydenham, St. Albans, Woolrton. and Sumner voting, for it, and those of the City Council, New Brighton, and Linwood against it. ■Cr. Hadfield (Sydenham) moved as a further amendment, "That in the opinion of this Conference it is desirable that a combined Committee composed of delegates elected from the various local bodies interested should have control of the tramway system of the city and suburbs." Cr. Gray suggested that the amendment of Cr. Hadfield s-hould be taken as a notice of motion, and let them, as delegates, go back to their Councils so as to get their views on it as it was. a totally different aspect of the question. He thought that as they had to get legislation some time yet would have to elapse, so they h«d plenty of time. The* Mayor of St. Alh;;ns moved, "That the meeting be adjourned till the 12th November the amendment, proposed by Cr. Had field to be taken as a notice of motion. ' This was seconded by Cr. Bean and carried. The meeting then adjourned.