MINING NEWS.

New Zealand Herald, Volume LII, Issue 15848, 19 February 1915, Page 3

MINING NEWS.

VICTORIA. THE EFFECTS OF THE WAR. The annual meeting of the Victoria Gold Mining Company, No Liability, was held at the office of the company, Empire Buildings, Swanson Street, yesterday. Mr. Graves Aickin presided. I The report stated that the directors 'wished to express their disappointment : that their expectations regarding the commencement of mining operations at the 1000 ft level had not been realised. Through various unforeseen causes, which could neither have been anticipated nor avoided, work at the deep level could not be undertaken. The great war had been largely responsible for this, as the money required by all the companies had to come from their shareholders, and large numbers of these were not able to pay the calls when made. • Unfortunately, just as the deep levels drive was nearing completion, serious unexpected difficulties were met with that entailed considerable extra expenditure, not provided for, which could only be met by calls upon the six associated companies. The directors greatly regretted that many shareholders who had been for several years members of the company were obliged, through stress of circumstances as the result of the war and other causes, to forfeit their shares. Application was made for protection for 12 months, so that all work and expenditure might cease daring this period. The associated mines had also applied for protection. The report was adopted. The retiring directors, Messrs. Alfred Nathan and Henry Green, were re-elected. Mr. P. K. McDonald was reappointed auditor.

PAEROA WARDEN'S COURT. j [BY TELEGRAPH.OWN CORRESPONDENT. ] Paeroa, Thursday. At the Warden's Court, H. H. Chapman was granted for 12 months a special river claim of 25 chains on the Komata Creek at Komata, it, being intimated that the Ohinemuri County Council would probably secure the Komata Reefs Co. : s water right's for water supply purposes. The grant of the river claim was made subject to it not interfering with water in the creek, if it should be required for public purposes. The Komata Reefs Gold Mining Company was granted six months' protection for three residence sites and two special sites at Komata. In connection with the case against the Waihi-Paeroa Gold Extraction Co. of failing to pay proper overtime to men employed on the river, which was heard last Court day, the warden intimated that he intended submitting the case for the opinion of the Arbitration Court, as there seemed to be an omission in the award regarding persons employed in this capacity.