COAL-MINING.
' [Pa* Pe3ES3 ASSOCIATION,] WELLINGTON, August 4 Further particulars relative to the purchase of the Ocal Creek coal leascj. Grey-' mouth, show that to-day was the‘last day in which Mr M’Dousali, in London, was allowed to have the matter in hand. Word was received tvday that .£2OOO had been, deposited in the Bank of London, which represents the amount to be paid to the New Zealand shareholders, who hold seven-tenth! of the scrip, cud the present lessees are to protect the property until Mr M'Douaall arrives iu the Co ony. The property consist,a of 4500 acres, and £BOOO or £9OOO has already been epent in developing it. Several seams of coal of excellent quality have beeu discovered, the larged; being fifteen feet thick. Mr Alexander M’Doug&ll, who was the Secretary of the old Company, will leave for the Colony in a few days, and will represent the new syndicate. The Company will construct a railway from Ccal Creek to Grey mouth, a distance of four miles and a half.
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Bibliographic details
Lyttelton Times, Volume LXXX, Issue 10108, 5 August 1893, Page 6
Word Count
169COAL-MINING. Lyttelton Times, Volume LXXX, Issue 10108, 5 August 1893, Page 6
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