MINING NEWS.

Evening Post, Volume LXXVIII, Issue 9, 10 July 1909, Page 9

MINING NEWS.

THAMES DEEP LEVELS. ' - [BY TELEGRAPH — PRESS ASSOCIATION.] AUCKLAND, 9th July. The Thames deep, levels scheme, which seemed to be on the verge of being brought to a head, has received a further set-back owing to th.6 action of .the Government in connection with the subsidy upon which .so much depended. It will b? remembered that the representa: tives of the various companies coneernj ed met at the Thames on 24th June last, in conference with Mr. F. Heed (inspecting engineer of the Mines Department), and agreed upon a scheme which was submitted to the Government. This provided for a crosscut at the 1000 ft level from the Queen of Beauty shaft' to that of the Kuranui-Caledonian, and subsidiary crosscuts to the Saxon, May Queen, and Victoria areas. The estimated cost of the whole scheme waa £16,795, and the Government, was asked to give towards the undertaking a S for £ subsidy to the extent of £8398, the companies intimating that they wer* prepared ito pay the sum of £10,000, and tc» start the work immediately if the Government's assistance, as asked, was forthcoming. The Minister for Mines has, however, decided to limit the subsidy to £5000, and this may wreck the " whole scheme, according to Mr. C. Hudson, chairman of the Waiotahi Goldmining Company. The representatives of the companies to-day received the following telegram from the Minister, the Hon. R. M'Kenzie :—: — "I have to inform you that, subject to ratification by Parliament, and also to conditions now being drafted, th« Government has decided to grant a subsidy of £ for £ up to £5000 on th« crosscut from the Thames- Hsuraki shaft at the 1000 ft level to the Kuranui* Caledonian shaft. The subsidy will only; be payable on the actual crosscut hei tween the two shafts, and not on th* subsidiary drives' to connect the differ* ent claims with the "crosscut. The prirw cipal condition that will be attached Ut the grant will be the right of fufcur* companies, and of companies other thaa; Jbhose who have now entered into th« agreement to contribute towards tha cost, to utilise the crosscut on payment of an adequate contribution ; and, gen* erally, the intention is to make it clean that the crosscut is to be regarded as a work for the~publi<s benefit, in retoraj for the subsidy from Ihe State. Th* form of agreement contaihing v the con* ditions, etc., '.will be submitted to tlU| companies shortly." A meeting of the representatives of .the companies is to be held early nexi week. AGITATION IN AUCKLAND MINING CIRCLES. ' , [BI TELEGRAPH — SPECIAL TO THE POST.] AUCKLAND, This Day. The receipt of the telegram from the Minister for Mines announcing a subsidy of only £5000 instead of £8388 asked for towards the exploration of the Thames deep levels, is causing consider* able agitation in local mining circles. It may be possible to modify the sc|iem« by striking out altogether the subsidiary crosscuts, but it is not thought likely that the companies will agree to this, as the concession was only given to them after long negotiations and careful thinking out. It is feared that the whole scheme will now fall to thf ground, in which case Thames stocks, winch have been rapidly rising ou the market during the last few days, will seriously 'fall in price. It is hoped that the Government will reconsider the matter and increase the subsidy to £8000 at least. I ■