GOLD AND COAL.

New Zealand Herald, Volume XXV, Issue 9112, 21 July 1888, Page 6

GOLD AND COAL.

ANNUAL MINING REPORTS. [BY TELEGRAPH.—SPECIAL CORRESPONDENT. ] Wellington, Friday. The report of Mr. Gordon, Inspecting Engineer on goldfields roads, water races, and other works in connection with mining, was laid on the Table to-day. It deals with the state of mining generally on the various fields, and contains a report on the extraction of gold and silver from ores. The subjects dealt with are treated under the headings, "Subsidised Roads and Tracks," " Drainage," " Aids to Prospecting," " Aids Towards Treatment of Ores," "Aids to School of Mines," "Roads Wholly Constructed by the Mines Department, " Report on Gold and Silver Mines," "Treatment of Gold and Silver Ores," and statistical tables showing the expenditures on works, etc. The reports of the goldfields wardens were also submitted. The falling-off of gold production for 1887 is £92,469, as compared with 1886. For the six months of the present year the falling-off is £13,580. The decrease is principally in the alluvial fields of the West Coast and Otago. In the Auckland district, the statistics show the yield of fold from quartz to be fairly constant, 'he yield of gold for 1887 was 203,8690z, value £811,100; silver, 20,8090z, value £3453: total value, £814,551. There are 11,720 miners, whose average earnings are £65 4s 3d ; in the previous year it was £80 12s 3d. There are 1605 coal miners, whose average earnings are £108 per head. The value of goldmining machinery, plant, &c., is £1,889,574, of which £250,348 is in the Auckland district. Over £7000 has been expended on schools of mines since their inauguration, salaries of teachers and travelling expenses, amounting to no less than £5654. THE COAL MINES OF THE COLONY. Inspector McLaren gives lengthy reports on the Kawakawa, Whangarei, and Waikato coal mines. Referring to accidents, he says there is a fatal accident to every 833,621 tons of coal raised in the North Island, a result so low that he has never seenit equalled in the mining statistics of any country. With regard to the successful working of the coal mines he says :—" A most important factor starting on a, sound financial basis. I do not know what is the Sractice in the South Island, but in the forth the unsound principle of erecting works and starting business principally on borrowed money is almost universal. When the very limited market and the intense competition of trade are taken into consideration, it must be apparent that the enormous profit cannot be realised that will enable double dividends being paid, one to the money-lender and another to the shareholders. The effect of this system is that the companies are continually in financial difficulties, and instead of being able to increase their business, they are most seriously crippled. In a report such as this, I can merely point to what I consider the main cause of the failure for many years of nearly all the companies that have been floated in Auckland, namely, the heavy millstone of debt that has been placed round their necks, under which they stagger for a time, and ultimately sink. The end is always the same."