KAITANGATA MINERS’ PLIGHT.

Otago Witness, Issue 3804, 8 February 1927, Page 52

KAITANGATA MINERS’ PLIGHT.

SUGGESTED MEASURES FOR RELIEF. The plight of the Kaitangata miners has aroused widespread sympathy, and within a few days the distress in the township will be considerably alleviated. Subscription lists opened in several centres are being circulated, and there is a prospect of the men being given an early start on the construction of a road ak.ig the western bank of the Chitha. The Public Trustee holds a £3OOO residue from a relief fund set up for the dependents of those killed in the 1879 mining disaster, and Mr F. Waite, M.P., has telegraphed the Minister of Mines suggesting that £2OO of this amount be granted for relief. In the Washing-Up Bill of 1922 this fund was transferred for the relief of the widows, families, and dependents of miners killed in any mine in New Zealand. In the meantime efforts to find work for the men are being pushed ahead, and as a result of a conference between Air Waite and Air J. R. Alarks (public works engineer) an early start on the road work is probable. The company for •which the miners have been working is the New Zealand Coal and Oil Co. (Ltd.'. The company was registered on February 28, 1900. According to the Stock Exchange Official Intelligence, the company’s properties comprise three collieries, one of which is freehold, together with a shale field of 4200 acres and plant for the manufacture of shale oil and its by-products. The statement of dividends as submitted in January, 1926, was as follows:—No dividend has been paid on the ordinary shares. Dividend on preference shares (7 per cent.) for 1902. 1903. At February 28, 1925, the debit balance on the profit and loss account stood at £18,066 and the reserve fund at £315. The authorised capital is £210.000, of which £192,694 had been issued in 180,000 ordinary and 12.694 (part of 30,000) preference shares of £1 fully paid. In 1901 the capital was increased from £lBO,OOO to £210,000. The holders of preference shares are entitled to a non-cumu-lative dividend of 7 per cent.