Grey River Argus and Blackball News PUBLISHED DAILY.

Grey River Argus, 14 October 1907, Page 2

Grey River Argus and Blackball News PUBLISHED DAILY.

/MONDAY, October i4th,..^g?'.:.^ /< .- — — - ; - & '--& i '£.■ It is satisfactory to see that the j -ing citizens and business men "g&mf rally of Hokitika and the- neighborhood so successful and^actiye in push-" ing .the fortunes "of the : Ross: "Gold- . fields" Ltti. "• Necessarily, in. a" mining" venture of that peculiar nature, the preparatory work is rather consideraible and will occupy some little time; • Consequently it is v of .good "omen tose'e- the promoters starring themselves so briskly in order to set the' scheme' going, as it may mean a great stake to the Coast. The speculation, in as far as the company's- mining, rights are* concerned; ■ .nolds out" the most promising inducements; But iit may . ' uaaq 3Aeq: ?6u pjnoAi" Auvdmoo. 'was -3J3 &i{V pouad- snorAajwli t b jo suoi% -Blraclo Suimra 9tp papu9n^ jbtjv ss&> -arts I '»iq'B.>[iirai3i -'.aqj ioj icra aa^Av U 'puhoj \[z. joxiotsaKdxo V sq 1 } puu iB;idBD jgqjjiij jo jusui;--oqj ioj ppu papu&ixo ub ' Suiveotpm jo sub^ot o\[% aq Abui s /a?OuioD aqijo ssaoons oqjL -31001 juap yzzxS c op in existence, aftd no one would have 1

dreamed of opening a new. alluvial field on Ross Flat. General attention , will be drawn to the 'matter by; the /report of the first statutory ' meeting held at Hokitika on Wednesday 'last, and at which 56,305 shares were represented. The chairman in - his opening- address congratulated the meeting- upon the successful flotation of the company, and said that the whole of the first calf of two shillings pei share had been paid, leaving a credit balance at the Bank of £3500. The agreement made . between H. M. Smyth, M.A., -and the company regarding the property was confirmed and adopted. .Before putting the motion the Chairman' explained that the agreement dealt with all the rights and privileges held by Mr. Smyth on behalf of .the promoting including the Tight to the Government subsidy of .£15,000, all of which had been secured by the Company. It also, dealt with Mr Smyth's option for the purchase of the Kanieri Lake water race. The Chairman also stated that at the directors' meeting on the 18th uit he had placed on record the fact .that he and Messrs^ Murdoch and Grimmond held Ta. interest' in this property. The terms of the agreement were discussed and found quite satisfactory to the meeting.- The agreement for the supply and erection' of' the plant was completed with a firm, viho takes a large interest in the undertaking, and who are sending home' the senior partner to personally superintend the ordering of the plant. ' ! It was resolved that the engineer be instructed to proceed to England as soon as possible and .personally examine the latest forms of electric pumping machinery in use In' the Cornish and Welsh mines, and -also visit the Victonan alluvial mines and report tully to thfe Company on his return : further, that he be authorised to incorporate any modern improvements wjichvhe may deem to be to the advantage of the Company's operations m his present specification. In order to save time, it was resolved that the Minister of Mines be asked to appoint an engineer in England to consult with Company's engineer' and Mr G. S. Maben and approve ot the form of pumps recommended by them, so that the same may be IS?- t? ? Htt,e d€lay as ssiMe. This I f st resolution was a happy thought, and there is little room for doubt as to the readiness of Government to fall in with the idea. aad 2 Vi hC C ° mpany ' w hich h a 3 embarked on a huge venture charac- '-, tensed by one of the most novel-fea-tures that the recorded, history of f Tl m the past has P r^«ced •It would be unfeir to the public, a, veil a& ancorrect to say that the undertaking,^ without risk. For, like most other mining ventures on so large a scae there are risks to be faced greLT y* m^ oin^ to ffreat expense. As' the bottom is below the level of the ocean, the _nwatenng may be . more ; dicult than is at present apprehended. Even the ground itself m ay prove disappointing-, though very little apprehension is telt as to either risk by those' at all. acquainted with the locality and »h. past history of the field. As the source of the alluvial gold on Ross _ lat must be the range of hills .at the back and running parallel with the Coast linej the probability is that hne of alluvial gravel,, commonly called "a lead," will extend a good deal farther south of Ross, and lead to the opening up of a field comparable m some respects with BaHaral Should this possibility, .eventuate it would be the means of Opening up a splendid field for human industry for at least a few years, as well as "leading to the introducing of population to the unoccupied country lying still farther south. As the company have adequate: water rights; they have decided wisely to instruct those acting for them in the selection of machinery to make careful- examination of the- various installation^ for supply--ing electrical power • -;that can be brought under -their obsenration'.--Every day furnishes new .and interesting lessons as to the economy and great adaptability of this natural force _of the future-for all kinds of purposes dependent upon kinetic energy. If an electric installation can be procured that will *o the work required to enable the auriferous beds., of gravel to be worked successfully, *it ought to be more economical and 7 better in every way than- to -employ the machinery hitherto relied upon- to work deep and' wet mines throughout the world. If sympathy counted for anything, it imight.be of some .value to this enterprising company, for the best wishes of every one along .the West Coast of this Island will go to the company for all success in their great venture/ for they have many difficulties looming on the horizoil of their hopes. .