THE BULLER AND OTHER COALIFIEDS.

Nelson Evening Mail, Volume II, Issue 173, 26 July 1867, Page 2

THE BULLER AND OTHER COALIFIEDS.

Ad-iuterim Report of the Select Committee appointed to consider and report upon the best means of securing the speedy development of the Buller and other Coalfields in this Province. Your Committee, after meeting several times, have arrived at the conclusion that, in order to develop the working of coal-

fields in this province, the Snpcrintendent shn.ll be authorised (with proper precautions and restrictions) toguarantee interest on a certain expenditure for that purpose, on a sura not exceeding £30,000 for a period of four years. The terms imposed by the lease might become a part of the terms and conditions on which the payment of interest might be made to hinge. The interest might be either (as in the case of the Dry Dock or Patent blip) at a fixed rate, which, added to the profits of the lessees would amount to 10 per cent, or any other rate agreed on, or some less rate of interest fixed, by way of bonus, in addition to and irrespective of the profits on the working of the coal. Your committee incline to recommend the latter alternative. Your committee will merely observe that the main principle here recommended has already obtained the sanction of the Provincial Council in the case of the Patent, Slip or Dry Dock, and may. in their opinion, be extended tc the furtherance oi jit hast an equally desirable object — the development oi' the coalfields. Your Committee would also recommend ilint, in order to offer further inducements to develop coal fields within Blind Bay, the Superintendent should be authorised to pay a bonus at the rate of five shillings per ton to any individual or company, raising good steam coal from any proper mine and one calculated to be of a permanent character, situated on this side of Cape Farewell, on his or their giving proof that not, less than one thousand tons of such coal have been landed at the port of Kelson. Provided always that such terms shall not exceed £500 in any one half-year, commencing with the six mouths ending 31st December, 1867 ; that the sum total shall not exceed £2000; and that in case such bonus shall be claimed by more than one party, it shall be divided proportionately to the quantity of coal raised in the half-year by each party respectively. Persons working coal-mines within Blind] Bey cculd, if they should think fit so to do, take advantage of the guarantee of interest recommended in the first part of this report, in preference to the bonus of five shillings per ton as recommended in the latter part, but your Committee wish it to be understood that persons availing themselves of such guarantee of interest are not to be entitled to also claim the bonus of five shillings per ton.