State Coal Mine

Oamaru Mail, Volume XXVII, Issue 8563, 18 August 1904, Page 1

State Coal Mine

By Telegraph. (From Our Own Correspondent.) i Wellington, August 17. '

The balance-sheet of ihe Slate'coal mines shows liabilities on debentures £107,000, ' sundry creditors £ISOB, accrued intercut £l6sß—•> ("'a! of £110.166. Point Eliza- , both collieries, original cost- and additional

£16.908, exi emliture during the year ■on machinery .and plant £ll,BB1 —total ' £28,789. Point Elizabeth railway, includ- j ing addition i' expenditure for the year £52.f!86. S: •!.:-.n-llle collieries c"-t £53203, , machinery, etc., £15,082; sundries, in- M eluding cash in hand, £3131 ; profit and | ' loss £892; total sinhing fund £110,166. \ The profit anil loss item is the loss on tho .', year's working of tho Scddonvillc niino, i, which opened last November, the liabili- ;■ tics are divided thus:—Point Elizabeth ' £82,480. Saddonville £276,686, total i £110,166. The report for tho mine is that li' it lies in the cove area, separated by a i,fault from the smaller portion of tho pro- ~ perty in which a fire broke out some year* i '■ ago ; that it lias been prospected with most n hopeful results, and an endless rope haul- '' age line has been constructed on two lines . of 401b rails to carry full buckets and empties for carrying tho coal from the main, ■>' tunnel mouth to the railway line. Tho seam being Bft. to 1.2 ft., unfortunately the ■ coal is of :i soft friable character, e.uily • broken up in transit, but althoti'.rh it is i solt, the ijiiaiity is L-ood, and, if used with 'i ' fine openings in the furnace, it would bo ,:

difficult, to find a bettor fuel for s|.»:im -\rnr- , poses, and even the fine dross, if used for ' domestic purposes, enkps quickly, nwl nukes, vliu;i broken up, a bright fire willi •'< j ■i slrone; hc:if. The engineers on tlio ',j , steamers usim; this ro;i] speak very highly j'l, ns to its steun ucnoratinjr properties ; hut.' .• i unless the fire bars arc close there would ~' ', be mucli waste, nwini; to cinders aJid un- |' consumed coal dropping through into the ,; : ash-pit. This acemmts for the small con- : , • sumption of this ce.nl since starting thesale of it from Xovomlier last til) the 31sfc March. The total output from the mino ',. was 7190 tons, and since tlio end of •XfarcK ', : i ' to the 30!! i .Tune the avcr.tjjo wockly out,- .■ put has been 812 to)\«, which c:in bo '| > doubled if a market can be found for the, coal. . .',