LAKE COLERIDGE SCHEME.

Evening Post, Volume CVII, Issue 27, 1 February 1924, Page 5

LAKE COLERIDGE SCHEME.

TENDER ACCEPTED,

The Hon. J. G. Coates (Minister of Puolic works) announced yesterday afternoon ttiat the'tenders submitted lor tne duplication- of the tunnel in connection with the'LaKe Coiei'iage^nydro-eiec-tric scheme' ranged from ±i2U4,406 to £114,40/. ' ; The1 highest figure, said the .Minister,1 was "a sailing suale tender," the ngure shown representing the tenderer's estimate of the cost of tne work' and including a nxed fee of Jt!22,0u0. The arrangement.was tliat on the 'completion of tnei work, the .Department would pay to thi| tendereiv^la par cent, of the amount Beiow ±J20,400, and that if tne. work cost more than ,±ob the tenderer would pay to the Department 15' per cent; of tne excess. The lowest tender of ±! 1X1,437 was submitted by Messrs. James, '■ Beban, and paity, all' of whom, are located in New Zealand.

"This tender is the most'favourable," said the Aiinister, "and has oeen accepted subject to the provision that vie party complete the necessary insurance policies and furnishing copy of the agreement current amongst themselves, in order that the Department may be: quite clear as to the procedure in cose"' o£ dissension between the individualsconcerned. Another condition is thatthe party.is to appoint two iully-autho-' rised representatives with power- to sign' the contract on behalf of all the members, and with these-two men only the Department will deal, they being responsible to the party for distribution of moneys due under the contract.

■__ "Mr. Beban is at present on the west toast enlisting members of his party, and when the quota i 3 full, he will re-: turn to Wellington, and the contract will be formally signed. The time* fixed for the completion of the work is--24 months, but the Department is offer-' ing a bonus of £50 a week for every week under 21 months by which the contract is completed; while, on the othqr hand, the contractor must pay to the Depart ment.£loo per week, for <sach week thatj the work is in hand over 24 months. Inquiries have been made to establish the standing of Mr. Beban; and as these in each case:have.proved very satisfactory, it 15 confidently anticipated that the contract will be pushed to completion as expeditiously, as i possible and that first-class wortc will result."