THE COAL CREEK COAL MINES.

Otago Witness, Issue 2059, 10 August 1893, Page 13

THE COAL CREEK COAL MINES.

Wellington, August 4. An English syndicate have purchased the Cobden Railway and Coal Company's property at Coal creek, near Greymouth, and intend to begin work there at once. The price is not given, butt it is stated to be satisfactory. Further particulars re purchase of Coal creek coal leases, Greymouth, show that was the last day in which Mr M'Dougall, inLondon, was allowed to have the matter in hand. Word was received to-day that £2000 had been deposited in the Bank of London, whish represents the amount to be paid to New Zealand shareholders, who hold seven-tenths of the scrip, and the present lessees are to protect the property until Mr M'Dougall arrives in the colony. The property consists of 4500 acres, and £8000 or £9000 has already been spent in development. Several seams of coal of excellent quality have been discovered, the largest being 15ft thick. Mr Alexander M'Dougall, who was secretary of the old company, will leave for the colony in a few days and will represent the new syndicate. The company will construct a railway from Coal creek to Greymouth, a distance of about four miles and a-half.