A COAL-MINING PROSPECTUS.

Press, Volume LXIII, Issue 19114, 24 September 1927, Page 12

A COAL-MINING PROSPECTUS.

STATEMENTS IN THE HOUSE REPLY BY A DIRECTOR. "Tho references mado in Parliament to the prospectus of the Hillside Collieries, Ltd., are entirely misleading and wrong. The collieries have nothing whatever to do with the Rotowaro. Glen Alton, and Pukemiro mines," said Mr 0. 0. Davis, provisional director of the Hillside Collieries, Ltd., in a statement made to a representative of The Press yesterday afternoon. "Tho proposed mine," ho said, "is w the Keefton district and has nothing to do with the properties above mentioned. The statement that the company relied on the railways taking largo quantities of coal for raihvaj purposes is not referred to m any part of tho prospectus. Tho only reference is that both the experts who have reported on the present property agree that Boatman's coal is suitable for railway use and the policy of the Railway Department is to apportion its orders amongst various mines in each province. This is rery different from the statement made by the Minister for Mines iu reply to Mr J. R. Hamilton. "With reference to the quantity of coal being taken by the Railway Department ' from the three Waikato mines," said Mr Davis, "the quotation in the prospectus is merely an extract from the 'N.Z. Herald' of June 21st, 1927, and was reprinted in perfectly ■good faith by the compilers of the prospectus. In any case this is not put forward as a claim, but is republished as an extract from the 'Herald.' . , "It seems to me," ho continued, ,: that in this case an attempt has been made to discredit the flotation by this obviously inspired question and answer in tho House."

NO GOLD.

REPORT FROM TAUPO DENIED

(press association telegram.)

HASTINGS, September 23

"There's not a word of truth in the report published this week in an Auckland paper, and copied in some provincial papers, that a party of Hawkejs Bay prospectors operating on the western side of Lake Taupo, collected 50 ounces of gold a few days ago and hope to get a further quantity within the next week or bo."

The above is the statement of the secretary of the Hastings syndicate which has had four prospectors on the field for the last six months. ' "We have combed the hill very thoroughly during that time," he said, "and we know, and are now campecr upon the only creek which carries any trace worth noticing of alluvial gold in that district. Only prospecting work has been done. We are still prospecting, and no gold at all has been won." Continuing, he said that such a report of a rich find would be laughable, but that its Publication may have been inspired wiih unworthy motive, possibly with a view of company flotation. In any case, he said, the instigation of such reports is commercially immoral, as they are calculated to draw men into costly country where the chances of reward are very remote. SILK AND WOOL MIXTURES. (BI OABLI— SBKSS ASSOOIATIOH—OOPXBIGHT). (AWTBAUAH AND H-& CABLS ABSOCUTIOK.)

LONDON, September 22. Special provisional returns of artificial silk and wool mixtures exported from Manchester in August totalled 236,000 yards, eclipsing the previous record for February by 80,000 yards.

AUCKLAND FARMERS' FREEZING

COMPANY.

[THE PRESS Special Service.]

AUCKLAND, September 23. • "Much more satisfactory than last year." This epitomises the comments mad© to-day by Mr J. E. Makgill, chairman of directors of the Auckland Farmers' Freezing Co., upon the operations of that concern for the period ending June 30th. The directors, he added, had no hesitation in recommending the payment of a six per cent, dividend. Mr Makgill made it clear that the main objects of the company were not the earning of dividends or profits, but those who had supplied its capital were entitled to a reasonable return. BUTTER AND CHEESE DEARER.

[THE PSESS Special Service.]

AUCKLAND, September 23. A further rise of one penny in the retail price of butter is announced by local merchants as effective in Auckland to-morrow. The new reta.il price will be Is lOd per lb for first grade factory butter and Is 9d for second grade. The latest increase is the third within a month. Proportionate increases in the prices of cheese are also announced. The rise on the local market is in sympathy with the steady appreciation of New Zealand dairy produce on the London market. SHARES.

<BT CABLE—PBESS ASSOCIATION— COPYRIGHT.) (AUSTRALIAN AND K.Z. AND SUN CABLE.) (Received September 28rd, 7.40 p.m.) LONDON, September 22. Peninsular and Orient shares are quoted at £274. RABBITSKINS.

(Received September 23rd,' 7.40 p.m.) LONDON, September 22. At the rabbitsklns sales 3250 bales were offered and 1300 sold. Jhe demand was very poor, the Americans not competing. Hatters* sorts were 10 per cent, below July prices, and furriers* 5 per cent. PROPERTY MARKET REPORT.

Messrs Ford and Hadfield, Limited, land and estate agents and auctioneers, 133 Worcester street, Christchurch, report a general improvement as regards the sale of both city and suburban property. During the past ten days tney repeat having sold on account of Mr B. C. Jacobs Ira very fine block of land, containing over 56 acres, situated in Burwood and in very close proximity to the City, at a very satisfactory price. Also on account of Mr R. E. Eder his new bungalow, situated Peyerell street, Riccarton, to Mr E. S. Palmer. Also on account of Mr W. H. Benson, his very charming bungalo>v, situated in Papanui, to Mr H. S. Chetwin. Also on account of Mrs C. Dclanev, two building sections, situated Barrington street, Spreydon, to H. Koberts. Also on account of client, a very fine residential property, situated Weston road, to Mr A. Binnie. Also on acconnt of Mr H. Orchard, his residential property, situated Somerfcew street, Spreydon, to a. client. Also on acconnt of the mortgagees a very fine rural property, situated at Spnngston, containing over 78 acres, togetherdwelling and outbuildings, to Mr C. W. Bobsoru