STATE MINES PURCHASE OFFER

Dominion, Volume 10, Issue 3070, 4 May 1917, Page 4

STATE MINES PURCHASE OFFER

SOME OF THE TERMS. By Telegraph—Press, Association. Christchurch, May 3. Iu an interview with Mr. Wilson (representing a group of New Zealand financiers) on the subject of the proposed purchase of the State coal mine, a reporter gathered the following fact?: (1) The syndicate are prepared to accept an- option over the properties for twelve months, on terms to be mutually, arranged between the parties. (2) The syndicate will be prepared to "ive a royalty of a certain amount per ton; of all coal hewn from the collieries. (3) The syndicate are willing to purchase on a. straight-out price agreed, upon by two arbitrators appointed by each side, the price to be determined by the number of tons available on the present conditions of development. . (4) The syndicate to. guarantee fuli supplies for "transport and railway service in the Dominion. An alternative proposal has been submitted to guarantee the Government 5 per cent, per annum on _ losses sustained during a certain period of the operations of the Department until the total has been liquidated. : Asked in.reference to the supply of labour, Mr. Wilson etated that .the exemption of miners from the operation of the Military Service Act, coupled with the fact of the undoubted patriotic feeling in the Dominion, as shown by the recent. municipal elections, aiid Jther reliablo sources, left no reason for doubt, on the point.