ROYALTIES FOR £150,000,000
BRITISH OWNERS’ OFFER LONDON, April 28. The mineral owners are understood to have submitted to the Secretary of Mines their own proposals for the unification of coal royalties, which iias been promised by the Government. The proposals are contained in a memorandum drawn up by the Executive Committee of the Mineral Owners’ Joint Committee. It is understood that the mineral owners will be prepared to accept a purchase price of £150,000,000.
For the purpose of arriving at this amount, the owners take the royalties paid over the past, seven years. On this basis the mean is £5,223,000 a year. Jan. 1, 1939, is suggested as the (Jute for transference of the royalties to the Crown. c -.
Compensation on the basis proposed would . leave the Crown as purchaser, it is claimed with an annual surplus of roughly £1,000,000, without taking into consideration future expansion of the industry.
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Greymouth Evening Star, 18 June 1936, Page 10
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149ROYALTIES FOR £150,000,000 Greymouth Evening Star, 18 June 1936, Page 10
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