LORD RANFURLY ON MINING.

Evening Star, Issue 10932, 15 May 1899, Page 4

LORD RANFURLY ON MINING.

At the special request of the residents of Karangahake, His Excellency the Governor broke his journey there to renew his acquaintance with the residents. Lord Ranfu-ly, in ft short speech, referred to the marked progress of the minin? industry during the past few years, and particularly during the period he had resided In the colony. Although he had only been in the colony, comparatively speaking, a short time, the progress made in this industry was such that he felt hinneif fulty justified in making special ieference to it. This particularly referred to the drtdging industry of the South, which during last year had progressed in a manner that was quite remarkable. When he visit d and Inspected various dredging area l ! he had been informed that twenty-four out of twentyseven companies were dividend-paying concerns. He cauld not say that in the North ißlaad twenty-four out of twenty-seven quartz mining companies were dividend-payers, but he sincerely hoped that these companies would progress and prosper, as he believed they should, so that capital required for the development of the auriferous portions of the northern part of New Zealand would be available. It was all right enough to speak of, adopting, a borrowing policy, but while bi ig a setose approved of that Idea, in so fer as it related to the borrowing of money for &e construction of

rail way b, the making of roads, and the opening! up of the unsettled portions of the colony, a borrowing polioy could not for many reasons be adopted for the purpose of opening up the goldfields of iSfew Zealand, therefore th;y required tbe assistance of outside capital. In a young colony like Now Zealand they ojuld not possibly obtain sufficie >t capita! the proper and efficient devj|o;nTiMut ef gohifielda, aim he ther - fjre hopud that by proving the value of their auriferous areas and by bringing the quaify.miuing industry to even a more prominent petition than it now oocupie3 tin confidence of outBide investors would be secured, and the assistance of British capital obtained for the purpose named.