MATAKI GOLD DREDGING

Nelson Evening Mail, Volume LXX, 25 March 1936, Page 10

MATAKI GOLD DREDGING

—; < “The best way to aid and stimulate mining in New Zealand would, be to abolish the gold tax,” said Mr C. 0. Maliony, chairman of directors of Mataki Gold Dredging, Ltd., Murchison, speaking at the fourth annual meeting of shareholders held in Auckland. In . criticising the burden of the tax. Mr Maliony referred to statements made by the Minister of Mines (the Hon. P. C.’ Webb) during his tour of the Thames district. Mr Maliony said that it would seem that the Minister of Mines thought it was fair to take arbitrarily the capita 1 of .existing companies by means of the gold tax as a donation towards the capital of companies intending to prospect for low-grade ores. That was, he said, to aid people who thought they would find gold by sinking expensive shafts. In his opinion this was quite wrong. Rumours which had been circulated adverse to the condition of the company’s dredging-plant, were , denied by the chairman, and also by Mr G. J. D. Stitt, the managing director, and Mr T. B. Gillooly, dredgeinaster. Mr Gillooly stated in a report that the dredge had worked during the last l year for 30 weeks. It had established a I record in working for two and a half years without missing one week’s return. The machine had stood up to the work well and was in good reliair. It was mentioned by Mr Maliony I that the life of the claim would he at | least eight to 10 years. | Messrs R. H. Montgomery and 11. . Curd, directors, were re-elected, i MATAKI RETURN (United Press Association) ' , . AUCKLAND, 23rd March. The Mataki return for the week ended 22nd March was' 430 z for 127 hours’ work.