Kawarau Company.

Dunstan Times, Issue 3355, 3 January 1927, Page 5

Kawarau Company.

The annual meeting of the above wa« called for last Tuesday in Dunedin, bu« lapsed for want of a quorum. It appear that the articles provide for one-fifth of the issued capital to be represented, but on the occasion it was below 60,000, the required number. > The report is fairly lengthy. It points out that owing to the lateness of the season and the volume of water from the tributary streams conclusive. results could not be expected other than to prove the effectiveness of the dam. The dam is considered to have effectively served its purpose. The opinion in the report is that in any ordinary hard winter results will bo much more successful. The report features the fact that the Consolidated Kawarau Claims is an amalgamation of some 60 claims, and that another proposal for the amalgamation of some fifty of the others is in progress. The company appears to welcome this. The report will be discussed at a meeting this week. In connection with the above there is a good deal of talk of the, latest amalgamation proposal, and an even smaller amalgamation is mentioned What it i K going to achieve we arc at a loss to understand. Without going to the public there will not be any money for further constructive works. Our own opinion is that it would be very unwise for some of the local companies to lose their identity. If all the claimholders concerned in the latest proposal are genuinely sanguine of the richness of their areas, they should be prepared to come forward individually and commit themselves for their quota towards any further dam. The first step should be in the direction of getting a report as to where a dam should be erected, and the cost. We have our own ideas of the value of the many areas and have our own opinions on some of the keenness for amalgamation. As stated above, we think some of the local companies—we will not mention names should consider very seriously before rushing to amalgamation. They should at least await developments in the depths of winter. t i —Cromwell ‘Argus