THE GREY MOUTH COAL LEASES.
AN ENGLISH COMPANY FORMED.
[ Nyny TKI.KUUAI'II. —VUi:ss association.] Wellington', Friday. Fitktiieu particulars re the purchase of the Coal Creek coal leases, Greyinouth, show that to-day was the last day on which Mr. McDougall, in London, was allowed to have the matter in hand. Telegrams were received to-day that £'20' H) had been deposited Tft the bank in London, which represents the amount to be paid to New Zealand shareholders, who hold seven-tenths of the scrip, and the present lessoes tire to protect the property until Mr. McDougall arrives in the colony. Tho property consists of 4,")00 acres, and £S0t)() or £0000 has already been spent in developing it. Several seams of coal of excellent quality have been discovered, tho largest being 15 feet thick. Mr. Alex. McDougall, who was secretary of the old company, will leave for the colony in a few days, and will represent the now syndicate. The company will construct a railway from Coal Creek to Greyinouth, a distance of about four and a-half miles.
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Bibliographic details
New Zealand Herald, Volume XXX, Issue 9271, 5 August 1893, Page 4
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173THE GREY MOUTH COAL LEASES. New Zealand Herald, Volume XXX, Issue 9271, 5 August 1893, Page 4
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