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BAY OF ISLANDS COAL COMPANY.

In relation to the operations of this company, and the workings of the mine, it is very gratifying to be able to report a steady continuance of* the output of the best coal, sufficient for the demand made for it by the vessels calling at Opua to coal. It also appears that the prediction I made some time back that in spite of many difficulties and unexpected hindrances there would be a dividend at the half-yearly meeting of the company this month, is fully verified, for by the printed report of the directors I find that it is recommended to pay a dividend of six per cent, from the funds in hand, which stiil leaves a balance of over £1200 in the bank to the credit of the company. This is most satisfactory, as the workings still shew fair success, and ib is now proposed to open another drive, from indications discovered some ten days ago by the manager, Mr. Moody, to strike in on the No. 3 level, where the works are now progressing so favourably. This, it is supposed, will open the better portion of the seam already alluded to, and give a much larger area and facility for extracting the mineral. From the manager I learn that the contrast between the mining works in the Bay of Islands coal mine with that of Newcastle, New South Wales, where he had some experience, is caused by former volcanic action, which disturbed the run of the seams here, but which are so steady and continuous in other coal deposits and works in New South Wales and elsewhere. In this locality the seam is faulty, broken into various parts, and is seldom continuous in an unbroken depth of the seam. The favourable report, therefore, of a steady continuance of coal where no faults occur is a matter of much importance, and very great satisfaction. I also learn that it is now the intention of the directors to prosecute vigorous prospecting operations with the diamond drill. Lately there has been erected a separate detached buildingfor all the machinery of the drill and boring appliances, and everything is thus kept in order for immediate work as soon as the directors may decide. On my last visit to the level where the bulk of the mining is proceeding, in No. 3 level, I had an opportunity of inspecting the concrete dams erected last April, when the outbreak of the water occurred. They still act admirably in regulating the pressure of the flow of water, and the Tangye pump is still not required, but kept in good order ready for any emergency. If a store shed and separate siding to and from it were erected at Opua, near the wharf, capable of holding 500 to 1000 tons of coal, and such being advertised, the demand for the coal would be increased, and the works in consequence extended. If the Government were alive to their own interest in thus securing a much extended traffic for the Kawakawa line, they would at once take steps to secure this boon, for surely there can be no question that the employment of double tne amount of labour by the company would not only be an advantage to the Government line of railway, but would so advance thffi locality that it is surprising no steps in this direction have been taken to extend the railway traffic.— [Own Correspondent.]

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/NZH18880806.2.52

Bibliographic details

New Zealand Herald, Volume XXV, Issue 9125, 6 August 1888, Page 6

Word Count
574

BAY OF ISLANDS COAL COMPANY. New Zealand Herald, Volume XXV, Issue 9125, 6 August 1888, Page 6

BAY OF ISLANDS COAL COMPANY. New Zealand Herald, Volume XXV, Issue 9125, 6 August 1888, Page 6