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Hawke's Bay Herald, Volume XX, Issue 3886, 30 March 1877, Page 2

The purchase of the Kuinara water race by the Government appears to be a transaction, of a very questionable character. We learn from the West Coast Times that there was quite a commotion in Hokitika among the lucky shareholders in the Kumara Water Race Company, when it ' was known that the Government had determined upon Concluding the purchase of the race. One shareholder is said to have netted a thousand pounds by the transaction, and another nearly six hundred pounds, and half a dozen others from two to three hundred pounds each. The speculation has been one of the most fortunate recorded in connection with mining on the coast. The price paid by the Government was £8000 cash — the sum, according to the Wellington Argus, fixed by the shareholders themselves. That journal remarks " the total amount spent by the company on the race was £2500, so they have cleared about £5600 by the investment. The acquisition of this race was, it is said, necessary to properly carry on the expensive AVahnca race. This is an excellent example of the admirable management of the General Government and of how the money goes."