BAY OF ISLANDS COAL COMPANY.
There will be found in our advertising columns a prospectus published by the Bay of Islands Coal Company, who have purchased from Mr. J. MoLeod his interest in the Kawakawa coalmines. We have no doubt, from the names which appear upon the Board of Directors, that the company will prove a success. 1,200 out of 2,000 shares have already been subscribed for, and the remainder are now offered to the public. According to the present demand, the profits of the company would give a dividend of 15 per cent. ; but the demand i> constantly on the increase, and it is expected that within a few months it will be doubled. We need scarcely remind our readers that competent authorities have pronounced this coal to be of an excellent quality, and that for steaming purposes it is considered superior to the .Newcastle. We congratulate the province on the prospeot which now exists of a plentiful supply, of coal at a moderate rate.
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Bibliographic details
Daily Southern Cross, Volume XXIV, Issue 3349, 10 April 1868, Page 2
Word Count
166BAY OF ISLANDS COAL COMPANY. Daily Southern Cross, Volume XXIV, Issue 3349, 10 April 1868, Page 2
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