A MINING COMPANY'S TITLES

Press, Volume LXXI, Issue 21510, 27 June 1935, Page 8

A MINING COMPANY'S TITLES

I $ I LVrOSFJ) IN LIEU OF! I FORI''KIT LIRE j li'Klfl'i Amsoni erini? rr,tr.OßASt.> DUNEDIN. June 23. A minim; action involving the titles <;f a coms»nny funned with English capital for dredging a section of Hie Molyncux river was hold botore the warden (Mr H. J. Dixon, S.M.) at Ciyd': in March, when decrees of forfeiture were sought by J. S. Burrows i'i rcKpoct to tv/o of the three claims held by the Molyneuy 3old Dred;;in::; Company, Ltd.. on the Molyneux river, extending from Alexandra to some distance above Clyde. The Molyneux Gold Dredging ComI'smy. Ltd., was registered in England wiln a capital of £250 000. In the form of 1.H1,000 fully paid shares it p.'i'd for three c:air,i:i on the river extending over about 10 miles, and also for certain other properties. In addition ii paid £ 12,000 to the Otayo 'Central Electric Power Board, with a view to sccurinf, electrical energy to work the dred;;e. The company is further understood to have entered into contracts for the construction ol a dred;<e eostin;; £40.000 and it is originated that it will cost an additional ; £ &0.000 lo erect the dredge on the j river. Trie total area of the claims is about acres, and the area in dispute | amounted to about 520 acres, •Claim:; i were pcf.-.-d more than two years a.';o, 1 and in order to protect them special • legislation was passed by the Parliament of New Zealand in Novemoer. '['lie warden nave his decision yesterday, after reviewing the evidence i and the points of law raised. He held jfiiat th'Yf fr-cl been a lorleiture. but J in view ol the special circumstances j relied on by !be delen:iant company, ibe exercised his discretion by tm- ! P' si;r; a line in lieu of forfeiting the j lie. uses. Tiie total ol the fines and ie.,„ts for the two licenses was £3O I fs. J